First Scrap Review: Recycling themed Boris CEO Ponzi

First Scrap provides no information on its website about who owns or runs the company.

First Scrap’s website domain (“firstscrap.com”), was first registered in November 2020. The private registration was last updated on July 2nd, 2022.

In an attempt to appear legitimate, First Scrap provides a random residential address in Canada on their website. For the purpose of due-diligence, this is meaningless.

First Scrap’s website went live in mid 2021, coinciding with a launch on or around June.

In late May 2022 First Scrap picked up their marketing game, with the introduction of “John Ronald”:

“John Ronald” is in fact Daniel Pulyakh (Данил Пулях), an actor based out of Moscow, Russia.

Since the May 2022 promo vid, Russian scammers have hired additional actors to play the rest of First Scrap’s executive team.

The above FaceBook post suggests a rented office Boris CEO marketing video is on the way.

As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.

First Scrap’s Products

First Scrap has no retailable products or services.

Affiliates are only able to market First Scrap affiliate membership itself.

First Scrap’s Compensation Plan

First Scrap affiliates invest USD and cryptocurrency on the promise of advertised returns:

Bronze – invest $100 to $10,000 and receive a 1.55% daily ROI

Silver – invest $10,001 to $35,000 and receive a 1.85% daily ROI

Gold – invest $35,001 to $60,000 and receive a 2.15% daily ROI

Platinum – invest $60,001 to $100,000 and receive a 2.45% daily ROI

Note that First Scrap charges a 7% fee on all withdrawal requests. First Scrap affiliates are also only able to withdraw twice a month.

The MLM side of First Scrap pays on recruitment of affiliate investors.

Referral Commissions

First Scrap affiliates earn a commission on funds invested by personally recruited affiliates.

Bronze tier affiliates earn a 6% referral commission

Silver tier affiliates earn a 7% referral commission

Gold tier affiliates earn an 8% referral commission

Platinum tier affiliates earn a 9% referral commission

Residual Commissions

First Scrap pays residual commissions via a binary compensation structure.

A binary compensation structure places an affiliate at the top of a binary team, split into two sides (left and right):

The first level of the binary team houses two positions. The second level of the binary team is generated by splitting these first two positions into another two positions each (4 positions).

Subsequent levels of the binary team are generated as required, with each new level housing twice as many positions as the previous level.

Positions in the binary team are filled via direct and indirect recruitment of affiliates. Note there is no limit to how deep a binary team can grow.

At the end of each day Frist Scrap tallies up new investment volume on both sides of the binary team.

Affiliates are paid 8% of funds invested on th

🤖 Quick Answer

What is First Scrap and when was it established?

What address does First Scrap provide on its website?
First Scrap displays a random residential address located in Canada on its website. Security analysts consider this address meaningless for due-diligence purposes, as it appears designed solely to create an illusion of legitimacy.

Who is John Ronald and what is his connection to First Scrap?
"John Ronald" is a persona associated with First Scrap's marketing campaign beginning in May 2022. The character is portrayed by Daniel Pulyakh, a Moscow-based Russian actor, indicating potential fraudulent operations orchestrated from Russia.

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