My Cryptobit, a cryptocurrency trading application, has launched with membership fees reaching $1500, operating as a multilevel marketing scheme disguised in blockchain jargon. The company's structure prioritizes recruitment over any tangible product or service.

The firm lists Ozcan Come as owner, CEO, and founder, with David Bras listed as Department Marketing Content. Both men are based in Switzerland. Bras's Facebook profile also lists him as an owner and founder, mirroring Come's official titles. This dual claim suggests a shared leadership role.

Before My Cryptobit, Come and Bras operated Capital Solutions, a venture they abandoned in October 2017. My Cryptobit then launched in November 2017, a timeline indicating a potential pivot from one scheme to another with the same principals.

My Cryptobit offers no actual products or services for purchase or resale. Affiliates market only the membership itself. The promised app purports to be the first cryptocurrency application to cover all essential aspects of the cryptomarket. It claims to provide ICO research, portfolio tracking, airdrop services, daily bitcoin analysis, one-tap trading, and market news. The business model does not support these features.

New affiliates pay membership fees up to $1500 to join the program. These funds do not go toward developing technology. Instead, they are used to pay recruitment commissions, forming the core revenue stream for My Cryptobit.

The company presents thirteen affiliate ranks, each requiring progressively larger sums from downline membership fees to achieve. A Bronze member needs $1500 in fees from their recruits. Silver requires $5000. Gold climbs to $25,000, and Platinum reaches $50,000. The ranks continue through Sapphire ($100,000), Ruby ($250,000), Emerald ($500,000), and Diamond ($1,500,000).

Higher ranks become increasingly unattainable. Double Diamond demands $3,000,000 in accumulated downline fees. Blue Diamond requires $7,500,000. Black Diamond needs $18,000,000. The top rank, Imperial Diamond, requires an astonishing $48,000,000 in downline recruitment commissions.

These figures represent an unrealistic aspiration. They are designed to keep participants engaged in recruiting new members to generate fees, a pursuit that offers little chance of actual achievement. The mathematical structure of such multilevel marketing schemes guarantees that the majority of participants will lose money.

My Cryptobit suggests affiliates invest with an "expectation of a ROI." However, the public-facing website provides no details on how investments function or where returns originate. This lack of transparency is intentional. Without a legitimate business generating revenue, there is no mechanism for producing returns. Funds are derived solely from new recruits.

This model exemplifies a recruitment scheme. It leverages a popular industry like cryptocurrency, employs operators with minimal public profiles, charges entry fees, and structures rewards around recruitment. The enterprise operates in silence regarding actual investment returns. This formula is common among schemes that eventually collapse.

My Cryptobit is not a legitimate cryptocurrency opportunity. It is a system designed to extract money from participants, benefiting only those at the highest levels.

For those who have lost money to investment schemes, the U.S. Securities and Exchange Commission offers resources for reporting fraud and seeking recovery at investor.gov.