The BeeCash platform, operating under the domain beecash.co, registered on November 28th, 2017, offers no clear information regarding its ownership or management. The domain registration lists "Beecash coin" as the owner, with a city listed as "United Stage," indicating fabricated details. Marketing materials feature narration with a pronounced European accent, suggesting the operators are based in Europe.
BeeCash lacks any retailable products or services. Participants can only market BeeCash affiliate memberships. The scheme’s core involves affiliates acquiring BEH points, which are then "lent" back to the company. These BEH points are sold to affiliates at prices ranging from $0.60 to $1.20 each.
The company promises a monthly return on investment (ROI) of up to 45% on these lent BEH points. Investment tiers dictate the duration and terms of the ROI. For instance, investments between $100 and $1,000 yield a variable daily ROI for 200 days. Larger investments, such as those between $5,001 and $10,000, offer a variable daily ROI plus a 0.2% bonus daily ROI rate for 120 days. The highest tier, $10,001 to $100,000, provides a variable daily ROI plus a 0.35% bonus daily ROI rate for 90 days.
A significant restriction is that only 30% of any ROI payments can be withdrawn. The remaining 70% must be reinvested into purchasing new BEH points, effectively perpetuating the cycle. This reinvestment requirement is a common characteristic of Ponzi schemes.
BeeCash also employs a unilevel compensation structure for referral commissions. In this structure, an affiliate’s directly recruited members form level 1. Any recruits made by level 1 members are placed on level 2, and so on, theoretically down an infinite number of levels. BeeCash caps payable unilevel levels at fifteen. Commissions are paid as a percentage of the funds invested across these levels. The commission rate starts at 8% for personally recruited affiliates (level 1) and decreases for subsequent levels, reaching 0.05% for levels 11 through 15.
Affiliate membership with BeeCash is free, but only allows for earning referral commissions. Full participation in the investment opportunity requires a minimum initial investment of $100.
The scheme presents itself as an ICO lending platform, but it fails to identify any legitimate source of external ROI revenue. The only disclosed source of incoming revenue is new investment from participants. This structure, combined with the referral commission system, firmly places BeeCash into the category of an ICO lending Ponzi scheme. Such schemes typically collapse when recruitment slows, and there are insufficient new funds to pay existing investors.