The Central Bank of Russia issued a pyramid fraud warning against 7Eleven-INS on June 25, 2024. The online platform, which claims "more than 45 thousand investors" and displays awards dating back to 2017, registered its domain, 7eleven-ins.com, privately on May 30, 2024.
7Eleven-INS provides no information about its ownership or executive team. The website lacks executive biographies, founder stories, or any verifiable details about who operates the company. This lack of transparency contrasts sharply with its claims of longevity. The company has existed for approximately six weeks, yet it purports to have been active since 2017.
A Chicago address listed on the 7Eleven-INS website, an unspecified office building, has a history of use by fraudulent entities. The UK's Financial Conduct Authority (FCA) cited Horizon Crypto for securities fraud in 2022. Horizon Crypto also claimed to operate from this same Chicago address. Scammers have previously leveraged this location.
The website displays a British Virgin Islands (BVI) Investment Business License dated October 2018. This certificate either is fraudulent or belongs to an unrelated entity, as it predates 7Eleven-INS's existence by six years. BVI is widely recognized as a jurisdiction with minimal oversight for multi-level marketing (MLM) fraud, making any company presenting BVI credentials immediately suspect for investment schemes.
7Eleven-INS offers no genuine retail products or services to customers outside its affiliate network. The entire business model revolves around marketing affiliate memberships. Its stated purpose is to attract new investors, not to sell goods or provide a tangible service.
Affiliates are encouraged to invest cryptocurrency, with 7Eleven-INS promising daily returns scaled by investment size. Plan 1, for investments from $50 to $499, offers a 6% daily return. Plan 2, covering $500 to $1,000, promises 10% daily. Plan 3, for $1,000 to $5,000, claims 15% daily returns. And the highest tier, Plan 4, involves investments of $5,000 or more, with an advertised 30% daily payout.
Referral commissions are structured across three levels of recruitment. Direct recruits earn the referrer a 5% commission. Second-level recruits, those brought in by direct recruits, generate a 2% commission. Third-level recruits result in a 1% commission. While membership itself is free, participation in the income scheme requires a minimum $50 investment.
The 7Eleven-INS website uses a common, generic finance template. It is filled with vague financial terminology and stock photography. No specific details link its high-return promises to any verifiable trading activities or legitimate business operations. The company states it manages $6.562 billion and generates 20% daily. If these figures were accurate, the platform would have no need to solicit $50 investments from online strangers or to bother with recruitment at all.
7Eleven-INS has not registered with any financial regulators. The BVI certificate, even if legitimate for another entity, would not authorize operations outside the British Virgin Islands. The company's activities, particularly its offering of unregistered investment contracts, constitute securities fraud under multiple jurisdictions.
The only funds entering the 7Eleven-INS system come from new investor deposits. This incoming capital is then used to pay purported returns to earlier investors. This mechanism precisely defines a Ponzi scheme. And without any retail sales, the emphasis on recruitment for investment also establishes it as a pyramid scheme.
When recruitment inevitably slows and the inflow of new money ceases, the promised returns will disappear, leading to the collapse of the scheme. Most participants in such operations ultimately lose their invested capital.