On its website, BitHarvest does not provide executive or ownership information that may be verified.
Rather, BitHarvest presents a management team with unfamiliar names:
BitHarvest CEO “Logan Lee” is actually Singaporean national Steve Ng.
Ng, a poker player, recently participated in the Taipei 2024 Asian Poker Tour event.
Chinese con artists working in Singapore; Singaporean con artists working in Singapore; or a mix of Chinese and Singaporean con artists working in Singapore
Notable more names associated with BitHarvest include Marcos Caleb and Jan Gregory.
Marcos Caleb promotes multilevel marketing cryptocurrency Ponzi scams on his YouTube channel.
Caleb has recently advocated the MLM cryptocurrency Ponzi scams Trade Like Crazy (collapsed), Titan369, and EchoOne (collapsed).
Canadian citizen Jan Gregory, also known as Jan Strzepka and Jan Gregory Cerato, is a prolific Ponzi scam marketer.
Gregory was fined $165,000 for securities fraud by the Alberta Securities Commission in September 2022.
Gregory moved to Dubai and quickly left Canada. Gregory spent the most of 2023 dealing with Russian Ponzi fraudsters from Dubai and Turkey, the world’s MLM criminal capital.
Gregory was a frontman for CoinMarketBull, Maxspread Technologies, Vortic United, CloudFi, and SureX during the 2023 MLM crypto Ponzi crimewave. Authorities in Russia and California were aware of Gregory’s Ponzi scheme via Dubai. Gregory undoubtedly made a lot of money by enlisting people in Russian Ponzi schemes, but as his 2023 campaign came to a close, flaws in his carefully manicured, carefree social media persona became apparent.
Cynthia Petion, the CEO and founder of Novatech, previously engaged in the same behavior when participating in the AWS Mining Scam, which included an MLM company posing as having actual mining facilities:
It turns out that there were no actual mining operations or infrastructure at AWS Mining.
They just misled passive investors into thinking that.
BitHarvest is now experiencing the same issue.
Some individuals who are unfamiliar with multilevel marketing scams may see a business do a public event, erect booths, etc., and some will even post on Yahoo Finance.ponder…This had to be real!
BitHarvest doesn’t provide any goods or services for sale.
Only the BitHarvest affiliate membership itself may be promoted by affiliates.
Affiliates of BitHarvest invest in both partial and full positions.
BitHarvest charges 90 USDT + $10 in BTH for a half investment stake.
BitHarvest charges $100 in BTH and 900 USDT for a complete investment position.
BitHarvest developed the internal BEP-20 shit token known as BTH.
Partial positions are defined as investments of $100 USDT. A complete stake is represented by a 900 USDT investment (or nine 100 USDT investments).
The prospect of a variable daily passive return, paid out in bitcoin, motivates this action.
BitHarvest’s multilevel marketing division makes money by finding affiliate investors.
Note that BitHarvest only distributes 70% of commissions that are generated. Only half of the remaining 30% may be reinvested in new BitHarvest holdings; the other 30% is transferred to a closed “register wallet.”
BitHarvest offers an MLM opportunity with six affiliate tiers.
They are as follows, along with their corresponding qualifying requirements:
Referral commissions are paid by BitHarvest to affiliates who are individually recruited and invest USDT.
Keep in mind that commissions for referrals are classified. This implies that higher ranking BitHarvest affiliates may keep the difference given to lower ranked downline affiliates as a 22.5% referral payment is always paid out.
BitHarvest matches up to 30% of downline affiliates’ daily returns.
The ROI Match is coded, much as referral commissions. Higher ranking BitHarvest affiliates may then recover the difference given to lower ranked downline affiliates since a 30% match is provided on each ROI payout.
It costs nothing to become a BitHarvest affiliate.
To fully take advantage of the associated income possibility, you must invest at least $100 USDT.
It seems that Gregory has replaced his Russian partners with Asian con artists based in Singapore for 2024. Apart from that, BitHarvest is just another Boris CEO Ponzi scheme.
BitHarvest’s Ponzi scheme involves a magical USB gadget that somehow uses artificial intelligence to fake anything.
enhances the production of offsite ASIC mining rigs by connecting to them.
Because there are no costly energy costs or physical space constraints, Bitcoin miners may now mine without having to pay a hefty fee for an ASIC equipment for the first time.
There are two reasons this is pointless:
FINCEN is not a financial authority, yet BitHarvest LTD, a similarly pointless Colorado shell business, is registered with the MSB.
The biggest visitor sources to BitHarvest’s website as of April 2024, according to SimilarWeb, were Taiwan (83%, down 58% month over month), Norway (6%), Kenya (5%), and Hungary (3%).
BitHarvest does not present proof that it has registered its securities offering in any of these nations, apart from Singapore.
As of right now, fresh investment is BitHarvest’s sole confirmed source of income.
BitHarvest would be considered a Ponzi scheme if it used fresh investments to cover ROI withdrawals. Furthermore, BitHarvest’s multilevel marketing (MLM) division functions as a pyramid scam as nothing is advertised or sold to retail clients.
Like many MLM Ponzi schemes, ROI income will stop growing as soon as affiliate recruiting stops.
Given BitHarvest extremely low trust score, there is a good chance that the website is a hoax. Use caution when accessing this website!
Our algorithm examined a wide range of variables when it automatically evaluated BitHarvest, including ownership information, location, popularity, and other elements linked to reviews, phony goods, threats, and phishing. All of the information gathered is used to generate a trust score.
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