Axneb Ltd has recently entered the market with claims to offer investors a return on investment (ROI) of more than 140%.
In this post, We will scrutinize Axneb Ltd and suggest whether it is a legit platform or another internet scam.
|Head Office||London, United Kingdom|
What is Axneb?
Axneb is a crypto-investing MLM platform that allows you to earn money while sitting at home.
The CEO of Axneb is George Pratt and the headquarters of this company is located at 24 Rivington Street, London, United Kingdom.
According to SimilarWeb, the total visits on its website Axneb.com is 200k+ with top countries reaching Russia (21%), Brazil (9%), and the USA (9%). Moreover, its domain was registered on February 2023, as per WHOIS.
To join, you just have to sign up on its website through your email. This company’s minimum and maximum investment amount is $25 and $250,000 respectively.
Axneb offers guaranteed 1 to 2% daily returns on investment made, which create suspicion against the company.
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After analyzing this company’s income plan and business model we discovered several red flags in it. Let’s take a closer look:
1. Lack of transparency
The company made it obvious in its income plan and on its website that it had hired a team of skilled cryptocurrency traders to maximize returns for their investors, but no additional details were provided about these traders.
Because they stake a lot of hard-earned money on this platform, its consumers should be well-informed about the traders, including their identity, experience, and designation in the company.
2. Operators’ Anonymity
They are attempting to keep CEO George Pratt’s identity a secret from the general public. On their social media pages, website, and marketing PDF, they have only specified the CEO’s name and not a visual identity.
In addition, when we did extensive research on the CEO’s identity, we couldn’t find a single image of a businessperson or entrepreneur with this name. Instead, we discovered that George Pratt is a well-known painter; perhaps they used his name as a ruse.
3. Unrealistic Returns
They have listed three income strategies on their website: Capital Boost, Growth Grain, and Smart Invest. According to their websites, these strategies generate returns of 107%, 121%, and 140% over predetermined periods.
On their website, you can invest between $25 and $250,000 in the three income strategies.
If we apply fundamental concepts from economics to it, this ROI appears unreasonable and impractical. This type of investment scheme with a substantially high ROI appears so implausible.
Every legitimate investment scheme provides reasonable returns over a long period, but they guarantee the returns within a few days.
4. Money Circulation Fraud
Although they claim to be a platform for investing in cryptocurrencies, their primary revenue comes from the referral program they operate.
According to their referral program, you will receive 5% for direct recommendations, 2% for referrals at the second level, and 1% for referrals at the third level. Hence, it is an MLM offering commission from 3 levels downline.
This referral program is the heart of Axneb, which constantly inflows money and circulated among investors.
A company using an MLM compensation plan with no legitimate products is always a money-circulation fraud.
5. Bogus Ponzi Scheme
After carefully examining its income plan and business strategy, We can easily conclude that the corporation is merely a Ponzi scheme initiated to defraud individuals
These Ponzi schemes involve an extremely high volume of internal money circulation, with senior executives reaping significant profits while the general public receives nothing.
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Should I invest in Axneb?
No, it would be best if you stayed away from these kinds of Ponzi schemes. Instead, save and invest your precious money in some legitimate opportunities.
Axneb is registered as a shell company in the UK and doing false claims with investment returns to lure people around the world.
Its operators are hiding and it’s doing securities fraud. Axneb is nothing more than a bogus Ponzi scheme that can collapse at any time.
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