X3MTRON: Scam Alert!

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Written by

ProofCryptofaucets

https://www.youtube.com/channel/UCG6zUEiNemT9dlGILOlcW_Q/about

3 years ago

Topics: Scam, Cryptoscams, Scamalert, Tronscam, Open For All, ...

What is X3mTRON?

X3mTRON, running through X3mTRON.com, is an unregistered investment website where investors make money from recruiting new investors. It is a scam.

Here’s how it works.

When investors join the project, they pay to enter one of three packages.

The Single package, costing 500 TRX.
The Trident package, costing 1,500 TRX.
The Business package, costing 5,000 TRX.

In order to make their money back, investors must recruit new investors into their downline. After an investor as recruited the required number of investors for each level, they receive their return-on-investment (ROI).

In the single package, you need to reach level 3 to make a profit. In the trident package and the business packages, you need to reach level 2 to make a profit.

Once investors have progressed through all five levels, the cycle begins again. At this stage, you would need to have recruited 32 investors.

Basic Details

Scam Type:

The Snapping Point believes that X3MTRON is a pyramid scheme.

A pyramid scheme is a type of scam where investors are promised a commission for recruiting other investors. Pyramid schemes operate with ‘uplines’ and ‘downlines’. When someone joins the project, their upline receives a commission from every investment they make.

Money in a pyramid scheme flows from the bottom of the pyramid to the top, reaching the founder. Here is what a pyramid scheme looks like.

If you’d like to see some examples of other pyramid schemes, please refer to Tron Chain and CyberChain.

Currency Used:

X3MTRON are operating with the cryptocurrency TRON (TRX). TRON is a cryptocurrency operated by the TRON foundation. They are not affiliated with this scam.

Current Membership:

X3mTRON is gaining popularity quickly, hence why The Snapping Point is issuing a scam warning. Since July, the project has:

Over 3,960 participants.
Traded over 6,033,220 in TRX.
Been marketed to over 22,000 people through social media and telegram.

Founder Information

Although we know very little about the founder of X3mTRON, here are some basic details that are available about the project and it’s manager/s

X3mTRON.com has been operating since the 31st of July 2020.
The website is registered through NameCheap and is hosted on their servers.
The project is being marketed through the Telegram group ‘X3mTron Official Group‘, which has over 22,800 members.
The project’s founder is running Facebook, Instagram and Twitter pages to market the project.

Is X3mTRON a scam?

Before we discuss the reasons The Snapping Point considers X3mTRON a scam, here are the four signs we use to determine a pyramid scheme.

Incentivised Recruiting. Investors primarily make money by recruiting new investors and not through selling to customers.
Inventory Loading. Investors are required to keep investing to participate.
Price-Fixing. Investors and/or business owners have no control over the price of their ‘products’.
Market Saturation. There are more people trying to recruit you into the project than people wanting to join.

How many of these apply to X3mTRON?

The only way to generate money in the project is to recruit new investors – that’s incentivised recruiting.

The only way to keep making money in the project is to invest in new levels – that’s inventory loading.

The project determines what money is made at each level meaning the investors have no control over what their downline (customers) are charged – that’s price-fixing.

The platform has 3,960+ investors, meaning there are now more investors than potential investors for them to recruit – that’s market saturation.

With that in mind, here is a list of reasons why this prokect is a scam.

The project/ company is not a registered financial institution.
The website does not have a business license nor any permit to operate a financial investment project.
The project has no public founder.
Participants in the project only generate income from recruiting new investors.
Over 3,960 people have invested in the project conducting at least 7,784 transactions. This means the majority of investors have only conducted one transaction (meaning they are likely unable to recruit anyone).
The project’s founder has promised that participants will earn between 500,000 and 2,000,000 in each cycle, but the project has paid members (at most) 6,033,220 TRX. This means only 10 people (at MOST) have earned close to the promised amount. That’s less than 0.3% of participants.