Iskander Network Review: A Hidden TexitCoin Reboot?
Iskander Network is a crypto MLM company selling mining investment positions. It claims to be decentralized, but its structure raises major concerns.
This Iskander Network Review looks at its ownership, compensation plan, legal risks, and connection to TexitCoin.
Who Owns Iskander Network?
Iskander Network is connected to Bobby Gray, also known as Rob Gray.
Gray previously ran TexitCoin, which collapsed in 2025. He now operates Iskander through a Wyoming DUNA structure called Iskander DMC.
This setup appears to reduce personal liability. Reports also suggest Gray moved to Singapore during legal issues linked to TexitCoin.
Products and Services
Iskander Network has no retail products.
Affiliates can only promote memberships and investment positions. This is a major red flag, as legitimate MLMs usually have real products.
Compensation Plan
Investment starts at $995 and goes up to $241,785.
Members invest using USD Coin or Tether and receive passive rewards in ISK tokens.
The company also uses a binary MLM structure, where commissions depend on matching recruits on both sides.
Why the Math Looks Unrealistic
Each matched position creates only $1,990 in revenue.
Yet Iskander advertises payouts from $3,000 to $25,000 per match.
That creates a serious financial gap.
For example, 1000 matched positions would generate about $1.99 million. But the company claims payouts of up to $25 million.
This model only works if new money keeps entering the system.
That creates strong Ponzi-style concerns.
Legal and Securities Risks
Under the Howey Test, Iskander Network may qualify as a securities offering.
Investors put in money, expect profits, and rely on the company’s efforts.
There is no public proof the company is registered with the U.S. Securities and Exchange Commission.
That creates serious compliance risks.
Is It a Pyramid Scheme?
The structure strongly suggests yes.
Reasons include:
- No retail products
- Recruitment-based commissions
- Passive returns
- No outside customer revenue
This means the system depends on affiliates funding other affiliates.
TexitCoin Connection
Iskander Network shares many similarities with TexitCoin:
- Crypto-based investments
- Recruitment rewards
- Internal token payouts
- Passive income promises
The business model looks nearly identical.
Final Verdict
This Iskander Network Review highlights several red flags.
These include hidden ownership, no retail products, unrealistic payouts, and possible securities violations.
The biggest concern is trust.
With Bobby Gray’s TexitCoin history, Iskander Network looks more like a reboot than a new opportunity.
Investors should proceed with extreme caution.
