WinWheel, which was led by a number of former top OneCoin Ponzi promoters, was basically a relaunch of the defunct Algotech Ponzi scheme.
Through node holdings linked to the business Connect, WinWheel provided investors with passive returns.
This is an overview of the findings from the Scams Radar WinWheel review;
In conclusion, WinWheel is a Ponzi scheme that has connections to Connect, an unidentified blockchain corporation that operates in the United States.
Both businesses have business strategies that seem purposefully complicated to confuse people, and they are operated and/or pushed by serial scammers.
WinWheel collapsed shortly after launch but Connect rebranded as Connect United and continued to defraud investors.
We’re releasing a separate Connect United review today per your request after verifying that Connect United’s product was MLM and not merely a WinWheel clone.
Despite being largely the product of one or more persons, Connect United’s website does not list executives or ownership.
In 2021, I mentioned that Stephen Michael Miller, a Utah native, served as Connect’s spokesperson.
Miller had experience in real estate prior to becoming involved in MLM crypto scam.
As usual, you should carefully consider joining and/or transferring any funds if an MLM firm is not transparent about who owns or operates it.
There are no retailable goods or services offered by Connect United.
Only the Connect United affiliate membership itself may be promoted by affiliates.
Affiliates of Connect United make investments in “win node” and “switch node” positions.
The promise of a varied daily passive return motivates this action.
Despite using USD in its incentive scheme, Connect United cautions that “rewards are paid out in USD equivalent, NOT paid in USD.”
Connect United uses its own WIN cryptocurrency to pay commissions and returns.
Recruiting affiliate investors is how Connect United’s multilevel marketing business makes money.
The pay structure of Connect United is divided into four levels.
They are as follows, along with their corresponding qualifying requirements:
Referral commissions on invested monies are paid by Connect United at two recruitment levels (unilevel):
On level 1, BlockBot and higher ranking affiliates get a 10% bonus.
It costs nothing to become an associate of Connect United.
To fully take advantage of the attached income opportunity, one must:
Keep in mind that Connect United provided these figures in their promotional materials. However, live pricing seems to be flexible and dependent on how much Connect United feels like charging.
Keep in mind that Connect United warns that investment charges are “locked in place for 30 minutes” after they are mentioned.
USD (credit cards), USD Coin (USDC), USD Tether (USDT), and its own WIN token are all available for investment by Connect United.
The website boasts of disrupting the global financial environment and changing the face of money in the future. Scammers often utilize such inflated claims to entice unwary people.
Limited verifiable information about the business, its employees, or its actual location is available on the website. Reputable financial sites often provide clear details about how they operate.
The website provides a number of high-risk financial services, including cryptocurrency arbitrage and flash loans, but it does not clearly comply with regulations or sufficiently describe the hazards involved.
As is typical in cryptocurrency frauds, the website advertises CLHC, its native coin. Platforms that actively advertise their own coins might raise suspicions among investors.
Testimonials from people in other nations are included on the website, however they can be faked to give it a false impression of validity.
Without hard proof of present performance, the comprehensive strategy and aspirational goals for the future, such as branching out into other industries, may be a ploy to draw in investment.
WinWheel’s straightforward investing plan was obscured by a mountain of pseudo-compliance and cryptocurrency jargon. It’s much the same with Connect United.
After removing the pseudo-compliance and crypto jargon, we are left with a really simple investing plan.
Affiliates of Connect United register, make investments in “node positions,” and get paid passively. When investors are recruited and follow suit, commissions are paid.
Both Stephen Miller and Connect United are not SEC-registered, even though they are headquartered in the US and predominantly serve US citizens (as of April 2024, SimilarWeb reported 84% of Connect United’s website coming from the US).
Remember that according to the Howey Test, Connect United’s node position investment plan is a securities offering regardless of how much crypto language and pseudo-compliance is used.
Affiliates of Connect United participate in the business (a joint venture) with the hope of making money (there is no other incentive to do so), and these earnings are obtained through the labor of others (Connect United’s node returns are paid passively).
Stephen Miller and Connect United conduct securities fraud as a result of their failure to register with the SEC.
On the money side of things, Connect United appears to be laundering funds through Switch Pay.
The domain “switchpay.co,” which was only recently privately registered on February 20, 2024, is where Switch Pay operates.
Switch Pay’s website lists Fortress Trust LLC, Ibanera LLC, and Switch Reward Card DAO LLC as shell businesses. There is no detailed information given about these businesses.
The Win Blockchain Distribution Algorithm determines how the money from every transaction made through Connect is allocated.
Connect United would be considered a Ponzi scheme if it used fresh investment to cover ROI withdrawals.
Like other MLM Ponzi scams, new investment will stop coming in as soon as affiliate recruiting stops.
Connect United will eventually collapse as a result of this deprivation of ROI revenue.
Given Arm Trade very 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 Arm Trade, 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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