On its website, Odecent omits management and ownership details.
The domain name for Odecent’s website, “odecent.com,” was first registered in 2022. The most recent change to the private registration was made on May 22, 2024.
We recorded a tape with Validus co-founder Mansour Tawafi on September 12th as a result of that tipoff.
Tawafi continues by revealing that Odecent was an unsuccessful attempt to initiate a Validus relaunch in late 2023.
Billal and Salman, my Validus partners, approached me around two months ago and began discussing the project they were developing before we had ever met.
Therefore, prior to Validus, they had already begun building several excellent items, and for the previous three years, they had a crew working on these projects.
We attempted to start this in Validus as well. Fingenius was a product at the conclusion of Validus, as some of you may recall.
We reached a point at the end of 2023 when we wanted to We really tested it with a few leaders, but at the time, it wasn’t particularly effective.
We intended to launch this in January, but the firm naturally went into operational inactivity after the DFSA’s stop and desist order in mid-December.
Tawafi is alluding to a December 22, 2023, Dubai Financial Services Authority fraud alert on Validus securities.
So, my partners approached me and said they wanted to start using this product again. They have developed a comprehensive system for it and are prepared to take action.
Within Odecent, Tawafi says he will be “taking a position, taking a role.” However, that part has not been confirmed as of the time of shooting.
Tawafi is referring to Salman Shahzad and Billal Ali as “Billal” and “Salman.”
Billal Ali is mentioned by Validus marketing as a co-founder of the Ponzi scheme:
The CEO of Validus, Howard Friend, seemed like a random European finance dude at least when he first came to light.
Since Validus’ demise, neither Friend nor Daud have appeared in public. It is assumed that both of them are hiding in Dubai.
Someone is attempting to con you if they reside in Dubai and approach you about an MLM opportunity.
An MLM firm is a fraud if it claims to have links to Dubai or is situated there.
Continue reading for a detailed analysis of how this relates to Odecent in particular.
There are no retailable goods or services offered by Odecent.
Only the Odecent affiliate membership itself may be promoted by affiliates.
An automatic trading bot is available to Odecent affiliate members.
To get access to a supposedly AI automated trading bot, Odecent affiliates must subscribe:
Managed trading subscriptions
Subscriptions to one’s own exchange trading accountns
Keep in mind that a 600% ROI may cause a membership to expire early, depending on the subscription chosen (while details aren’t given, it seems like there is a 500% to 700% range).
Keep in mind that commissions and incentives received via Odecent’s multilevel marketing opportunity are included in the 600% ROI ceiling.
An Odecent subscription terminates even if a 600% ROI is achieved before to its expiration. In this case, in order to keep making money, the membership must be renewed.
Recruiting affiliate subscribers is how Odecent’s multilevel marketing business makes money.
The Odecent compensation scheme has eleven affiliate levels.
They are as follows, along with their corresponding qualifying requirements:
When recruited affiliates pay for their first membership, Odecent affiliates get a referral commission.
The following is how referral commissions for subscription renewals are paid:
Odecent uses a binary compensation scheme to pay residual commissions.
An affiliate at the top of a binary team, divided into left and right sides, is compensated according to a binary pay structure:
There are two places on the binary team’s initial level. These first two slots are divided into two more positions each, for a total of four positions, to create the binary team’s second level.
The binary team’s levels are created as needed, with each level holding twice as many spots as the one before it.
Affiliates are recruited both directly and indirectly to fill positions on the binary team. Keep in mind that a binary team may develop to any depth.
Odecent counts the amount of membership fees paid by both sides of the binary team at the conclusion of each week.
On the side of the weaker binary team, residual commissions are paid as a proportion of the amount of subscription fees, according to rank:
Odecent uses a unilevel compensation system to provide a matching bonus.
Every individually recruited affiliate is positioned right behind the top affiliate in a unilevel pay scheme (level 1):
New affiliates are added to level 2 of the original affiliate’s unilevel team if any level 1 affiliates hire them.
Level 2 affiliates get promoted to level 3, and so on, down an almost limitless number of levels, if they bring on new affiliates.
The Matching Bonus is limited by Odeccent to four unilevel team levels.
Depending on rank, the Matching Bonus is given as a percentage of residual commissions received throughout these four levels:
Keep in mind that the Matching Bonus is limited to $15,000, regardless of rank.
Odecent offers the following one-time Rank Achievement Bonuses to affiliates that meet the requirements to be a Team Leader or higher:
Odecent provides affiliates with a number of time-based promotion bonuses, including:
Get a Dubai getaway by purchasing a B20,000 membership within 30 days after signing up with Odecent.
qualify for a (another?) “Dubai retreat” as Senior Manager within 30 days of joining Odecent.
Get a Rolex watch by qualifying as Senior Director within 30 days of joining Odecent.
The purchase for a subscription is linked to Odecent affiliate membership:
Managed trading subscriptions
Subscriptions to one’s own exchange trading account
Apart from the duration of the subscription, an Odecent affiliate’s earning potential increases with the amount of money they pay.
Note : Odecent seems to run in the cryptocurrency tether (1 USDT = $1), even though I’ve cited USD in this review to make things easy.
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.
Hiding out in Dubai is expensive. And so we have Validus ringleaders back with another fraudulent investment scheme.
Mansour Tawafi explicitly pitches describes Odecent as a “side solution” for Validus victims to recover their losses through.
Odecent’s managed trading subscriptions are a repeat of Validus’ offering. Affiliates sign up, invest and receive a weekly passive return.
This technique deceives investors into thinking that monies cannot be stolen since they are exchanged in their own broker/exchange accounts.
This is untrue. Usually, “lulz can’t touch our money!” methods end in a fraud by manipulating transactions or blowing the bot up.
During its operation, Validus got alerts about securities fraud from Belgium, Australia, and New Zealand in addition to Dubai.
It’s interesting to note that in August 2024, Moroccan visitors accounted for 100% of Odecent’s website traffic.
Given the small sample size (around 984 visits each month), SimilarWeb may have made a geoinaccuracy. It could possibly be a result of one or more of Odecent’s co-founders moving to Morocco from Dubai.
We turn to Phil Moser to get into the specifics of what makes Odecent a fraudulent investment plan:
It provides you everything, including 40 live APIs and a large number of active bots, if you have a $50,000 maximum bot.
After 70 weeks, it offers you a seven-fold refund, okay?
For those who say, “Y’know what, I don’t know how to do this, I don’t know how to connect, y’know these different bots, to monitor it, to all the different things that need to be there,” there is [the] centralized alternative.
All I want is a location where I may invest my money and get a certain amount of returns every week and month.
If you have a $50,000 maximum bot, it gives you everything, including 40 live APIs and a lot of active bots.
It gives you a seven-fold refund after 70 weeks, okay?
“Y’know what, I don’t know how to do this, I don’t know how to connect, y’know these different bots, to monitor it, to all the different things that need to be there,” is “the] centralized alternative” for those who say that.
I just want a place where I can invest my money and get a certain amount of returns each month and each week.
It should be mentioned that Odecent works in “points” internally. The corporation claims that one point is worth $1, although this is only accurate while Odecent permits internal point conversion to USDT.
Similar to Validus, the firm blocked withdrawals as soon as recruiting stopped up. The same will apply to Odecent, leaving affiliates with useless points that they are unable to use.
Given Odecent 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 Odecent, 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.
There are no reviews yet. Be the first one to write one.
