My Crypto Consult, a cryptocurrency investment platform, launched in June 2018, operating under a veil of secrecy regarding its ownership and management. The domain registration for mycryptoconsult.io was privatized, obscuring the identities of those behind the operation.
The only individual publicly linked to the venture is Willi Morant, who lists his role as "Project Development." Morant joined My Crypto Consult in late 2018. His prior involvement includes promoting Holiday Coin Club, a cycler scheme that ultimately collapsed, and FGXpress, another failed business.
This operation appears to have ties to FutureNet, a multilevel marketing company. Earlier in 2023, FutureNet affiliates were promoting FuturoCoin, a cryptocurrency that later exhibited the hallmarks of a Ponzi exit-scam. The combination of undisclosed ownership, association with failed ventures, and a leadership team with a history of promoting collapsed schemes presents a significant warning.
My Crypto Consult does not offer any tangible products or services. Affiliates can only recruit new members into the scheme itself. The entire business model relies on bringing in new participants and persuading them to invest in GLAM tokens.
The investment structure involves tiered entry points, starting with 1,000 GLAM tokens and extending up to 10 million tokens. The platform entices new investors with bonus percentages ranging from 300 to 325 percent on initial token purchases. Each investment tier imposes limits on the total number of tokens an affiliate can acquire and the potential earnings.
The QuickStarter tier, the entry level, permits affiliates to accumulate up to 44,000 tokens, with commission earnings capped at $2,000. The Leverage Pack tier limits token accumulation to 6.5 million over a six-month period. The 7PayMaxx All-In-One level allows for up to 22 million tokens over a 12-month span. At the highest levels, VIP and Elite tiers, affiliates can theoretically accumulate as many as 7.5 billion GLAM tokens.
The compensation plan employs two common predatory methods. Affiliates receive a 10 percent commission for each person they directly recruit. Additionally, the company utilizes a binary compensation structure. In this model, affiliates are placed within a branching tree. As recruitment expands, each level effectively doubles the available recruitment slots. The company calculates new investment volume on both sides of an affiliate's team and disburses residual commissions as a percentage of these funds.
This setup is characteristic of a multilevel marketing scheme masquerading as a cryptocurrency investment platform. The binary compensation structure is designed to ensure that most participants lose money. Only those at the top, who profit from the early influx of recruits, are likely to see financial gains.
My Crypto Consult is essentially selling the promise of GLAM token appreciation. This value is entirely dependent on a continuous flow of new capital from new recruits. When recruitment inevitably slows, the tokens will likely become worthless, resulting in losses for all investors except the operators.
The lack of transparency, the connections to previously failed investment schemes, the absence of genuine products, and the complete reliance on binary recruitment commissions clearly indicate that this is not a legitimate investment opportunity. It is a Ponzi scheme using cryptocurrency terminology. Individuals considering participation should be fully aware of the inherent risks.