DexNet Review: Dubai MLM crypto securities fraud

DexNet operates in the cryptocurrency MLM niche.

The company is headed up by founder and CEO Aleksey Kedo.

Kedo, who appears to be a Russian national, is known to BehindMLM as a
top promoter of Kairos Technologies
Ponzi scheme.

Following multiple regulatory fraud warnings and regulatory enforcement actions across Europe, Kairos Technologies
collapsed
in September 2016.

Authorities in Belarus made
thirty Kairos Technologies related arrests
later that same month.

Nonetheless what was left of Kairos Technologies limped along.

In January 2017 Turkish authorities concluded Kairos Technologies was an
illegal pyramid scheme
. Finally in January 2018, what was then left of Kairos Technologies was
disposed through a failed ICO exit-scam
.

DexNet’s other founder Igor Botnari, appears to be a random crypto bro with the usual failed businesses under his belt.

These include:

FixOne – failed cryptocurrency exchange, no website traffic

ProfixOne Capital – website disabled

FixOne Global – failed trading scheme, website disabled

One Token – failed crypto investment Ponzi offering 65% annually

Teroxx – failed crypto trading scheme, no website traffic

Abloxx – failed shit token Ponzi promising 8% a quarter for 5 years

Toqunia – another collapsed crypto scheme of some sort, website abandoned years ago

DexNet operates from three known website domains:

dexnet.one – privately registered on February 3rd, 2023

dexnet.info – privately registered on June 9th, 2023

dexfreedom.com – registered by Seychelles shell company Solutions Innovation on March 16th, 2023

As of February 2024, SimilarWeb tracked top sources of traffic to DexNet’s .ONE domain as Russia (30%), Ukraine (16%), Germany (13%), the UK (12%) and Moldova (11%).

Top sources of traffic to DexNet’s .INFO domain over the same period are Russia (39%), Malaysia (22%), Germany (22%) and the UK (17%).

Top sources of traffic to DexNet’s .COM domain over the same period are Latvia (50%), Russia (40%), Germany (6%) and Ukraine (4%).

On its .ONE domain, DexNet represents it operates as “Dexnet Information Technology CO” out of Dubai.

Due to the proliferation of scams and failure to enforce securities fraud regulation, BehindMLM ranks Dubai as the 
MLM crime capital of the world
.

DexNet’s website specifically suggests it is under the protection of Sheikh Majid Rashid Al Mualla.

BehindMLM’s guidelines for Dubai are:

If someone lives in Dubai and approaches you about an MLM opportunity, they’re trying to scam you.

If an MLM company is based out of or represents it has ties to Dubai, it’s a scam.

If you want to know specifically how this applies to DexNet, read on for a full review.

DexNet’s Products

DexNet sells Android boxes for $1499 retail. Affiliates pay $999.

The boxes are purchased in tether ($1 = 1 USDT).

DexNet’s Android boxes are primarily used to mine XNET, an inhouse token DexNet created.

Users receive a reward in XNet tokens for ensuring smooth operation of DEX Node device

🤖 Quick Answer

What is DexNet and its business model?

Who founded DexNet and what is his background?
DexNet was founded by Aleksey Kedo, a Russian national serving as CEO, and Igor Botnari. Kedo previously gained prominence as a top promoter of Kairos Technologies, a cryptocurrency scheme that faced multiple regulatory actions across Europe.

What happened to Kairos Technologies?
Kairos Technologies collapsed in September 2016 following regulatory fraud warnings and enforcement actions. Turkish authorities declared it an illegal pyramid scheme in January 2017. The company ultimately ended through a failed initial coin offering exit-scam in January 2018.

**What regulatory actions targeted Kairos Technologies

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