CryptoLux (CLX)

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Category: Coin/Token

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avatar Crypto Anonymous 224 rated:

Crypto Anonymous posted on March 12, 2019 02:45:14

Cookie cutter ponzi/MLM bitconnect imitator. It may be a russian platform, the founder, sole owner and sole director is a Robert Alexander as shown in the incorporation filing in British chamber of commerce. 

This program has:
  • the usual investment packages
  • trading bot/system that delivers the monthly profits; up to even 45% per month (yeah right) with
  • focus on profits that can be made, even shows messages of each time someone has invested.
  • Representatives can get a "downline" of other referring members and they mention that you have an "upline" (as per any MLM/pyramid structure)
This smells an awful lot like the usual ponzi that will collapse/shut down/exit scam at any given moment. As per the inherent structure of ponzi schemes, the blockchain verifiable payouts that are shown on the website are not any proof that it isn't a ponzi, payouts in a ponzi are used to give the scheme credibility. As long as more money comes in than goes out, the ponzi engine is running. To ensure that ratio of in and outflow in favor of inflow, reinvestments of earned profits are highly encouraged, so the money stays in the system, but it does only virtually. The fact they use a token on the blockchain doesn't change that at all. 

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