Table of Contents
Introduction
The cryptocurrency industry is one in which Quwiex, a firm that engages in MLM (multi-level marketing), operates. An unusually high rate of return, five percent each day, is being promised to investors by Quwiex which is one, firm that engages in MLM as a rate of return on their investments. Boris CEO, who is known for his involvement in the promotion of Ponzi schemes, is the founder of the firm. In this essay, we will discuss the Quwiex multi-level marketing company and investigate the dangers that may be posed to investors.
Background
Boris CEO, who calls himself a cryptocurrency specialist, launched Quwiex in 2019, the year it was created. Since this is a multi-level marketing (MLM) organization, potential investors are incentivized to bring in new people to participate in the scheme so that they may receive commissions. The return on investment that the firm guarantees to investors is an astounding 150% each month, which comes out to 5% per day on the money invested in the organization.
There is little evidence to back up the claim that the firm generates profits by trading cryptocurrencies on a variety of platforms, yet they make the claim anyhow. In addition, the organization does not give any information about the trading tactics it employs or the platforms it trades on, which is a warning signal for prospective investors.
The history of Boris CEO
The fact that Boris CEO has a history of supporting Ponzi schemes is something that investors contemplating investing in Quwiex have to take into consideration as a reason for caution. In the year 2018, Boris CEO was pushing a Ponzi scam that was named “Bitcoin Trading Robot.” This scheme guaranteed investors a return on their investment of 2% each day on average. The scam was discovered to be a fraud, leaving investors empty-handed.
Boris CEO has also been linked to a number of other Ponzi scams, such as “Crypto Adz,” which was brought down in 2018, and “Lara With Me,” which was brought down in 2016, respectively. It is evident that Boris’s CEO has a history of supporting fraudulent schemes, which ought to serve as a caution indicator for anybody who is considering investing in his company.
Regulatory action or reaction
Quick action has been taken by regulators in reaction to Quwiex. Financial authorities all over the globe have issued warnings to investors, advising them to steer clear of the scam. The United Kingdom’s Financial Conduct Authority (FCA) has issued a warning to investors, stating that they should be wary of investment schemes that promise high returns with little or no risk. The FCA has stated that investors should be wary of investment schemes that promise high returns with little or no risk. In addition, the United States Securities and Exchange Commission (SEC) has issued a warning, indicating that investors should be cautious when contemplating investment schemes that promise significant returns.
Investor reaction
Investors, especially those in the cryptocurrency field who may be targeted by the scam, have expressed alarm in response to allegations about Boris CEO’s participation in Quwiex, which has generated anxiety among investors. Investors are cautioned to use extreme care when contemplating investment schemes that promise large returns and are urged to carry out extensive research prior to putting their money at risk by following these two pieces of advice.
Potential implications
The Quwiex multi-level marketing technique may have enormous repercussions in the future. If it turns out that the plan was a Ponzi scam, then more investigations into the scheme and the people associated with it could be necessary. It may also result in an increase in the inspection of MLM schemes, particularly those that guarantee huge returns with little or no risk.
In addition, the findings underscore the need for stronger regulation and control of the cryptocurrency business, notably in the multi-level marketing (MLM) sector. The relevant authorities need to coordinate their efforts in order to track down individuals responsible for fraudulent actions, bring them to justice, and safeguard investors against fraudulent investment schemes.
Conclusion
The persistent danger that is presented by investment frauds is brought to light by the claims that Boris’s CEO was involved in the Quwiex multi-level marketing scheme. When contemplating investment schemes that offer large returns with little or even no risk, prospective investors need to be on high alert and exercise extreme care.
The relevant authorities need to coordinate their efforts in order to track down individuals responsible for fraudulent actions, bring them to justice, and safeguard investors against fraudulent investment schemes. It is essential to keep in mind that if something looks too good to be true, then there is a strong chance that it is. Before putting any of their own money into an investment, traders should always do their research, and they should never put in more money than they can afford to lose.
You may also like Nasgo NSG and SNP token securities scam, according to ShareNode’s review
