Recently, an organization by the name of EAconomy sprang to notoriety due to its claims to educate innovative skills and provide additional incentives through its affiliate kit.
In this post, we are going to review EAconomy and tell you whether is it legit or another fraud.
What is EAconomy?
EAconomy is an MLM-based ed-tech platform that offers training in trading and wealth management that can be very helpful in upcoming years.
The founder and CEO of this company is Hassan Mahmoud. The headquarters of this company is situated in Las Vegas, USA.
According to SimilarWeb, the total number of visits on its website www.eaconomy.io is 23k and its domain was registered on March 2021, as per WHOIS.
EAconomy also offers an affiliate kit to earn extra incentives over the perks of the ed-tech platform. The minimum cost to activate an affiliate marketing kit in EAconomy is $29.
We investigated their business model and affiliate marketing kit, and we found several red flags and cautious signs that you should the lookout for before investing. Let’s take a look at it:
No Support System
We looked at many online user reviews, and the overall tone was negative. Many of them stated that if you have any problems, they don’t respond to your questions.
The support system is nothing more than a website display meant to lull the target audience into a false sense of security. We believe that practicing such behavior is exceedingly immoral and unethical, and it is also bad for any firm, thus it is a major warning sign.
Incorrect Physical Address
We looked out for the company’s official headquarters, which was listed on the website, but we discovered no information about it. That was nothing more than a random location.
EAconomy is hiding its actual place of operation. It is not registered anywhere legally and serving as global platform from a single website.
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Lack of Transparency
There is not a single piece of information anywhere concerning the other top executives, except their CEO and founder. It seems quite strange that a business with such a significant marketing budget would choose to ignore its other leaders and brand ambassadors.
Being an ed-tech company, it doesn’t even have the presence on popular social media platforms. Morever their public website consists of very little information about them and badly design.
We conclude that the reason for the lack of transparency is that they are running a scam under the guise of an ed-tech platform.
Bogus Education Platform
To assist consumers in learning about cryptocurrencies, forex, and other forms of trading, EAconomy has three different platforms called Hercules, Manar, and Eminus. One of them is run by pro traders, while the other two are AI-driven.
The identities of their crew of pro-traders remain a secret. Normally, every ed-tech platform promotes itself by touting the caliber and qualifications of its professors, but in this instance, nothing has been said about the team of professional traders or their titles.
Furthermore, it is still unknown how AI will impact your timing of investing in the cryptocurrency market to produce the greatest results. Since the market for cryptocurrencies is so volatile, yield can’t be predicted.
Typical Money Circulation Fraud
Speaking of their affiliate kit, it first cost $29 to acquire it, but after that, you will receive $15 per month. Additionally, you must recruit new affiliates or students and invite them to join the business if you want the best return on your affiliate kit investment.
Below is a description of the ranks and earnings from recruiting new students using the EAconomy affiliate kit:
|Ranks||Personally Enrolled Students||Total Accumulation in Downline||Weekly Payout||Monthly Payout|
The ed-tech component of the business was solely created to deceive customers and lure them into their trap. This is an obvious Ponzi scheme.
In this type of Ponzi scheme, a sizable sum of money that the operators get from new affiliates circulates within the business, generating enormous profits for the operators but providing nothing to the users.
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Should I Invest in the EAconomy Affiliate Kit?
No, instead of putting your money into these fraudulent schemes, you should put it into other trustworthy ones.
We advise you to avoid investing in EAconomy because many other people fell for their trap and lost a significant amount of money.
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