SnapBots provides no information on its website about who owns or runs the company.
SnapBots website domain (“snapbots.io”) was first registered in February 2018. The private registration was last updated on January 20th, 2020.
Further research reveals Torque Trading CEO Bernard Ong citing himself as SnapBots’ Chief Financial Officer on LinkedIn.
Ong officially held the position from March 2017 (prior to SnapBot’s launch) till August 2019.
Ong would go on to launch the
Torque Trading Ponzi scheme
in October 2019.
Up until recently SnapBots was listed as a project on Snap Innovations website:
Bernard Ong (right) is a Managing Director at Snap Innovations. Multiple Snap Innovations executives work in SnapBots and Torque Trading.
Snap Innovations is a Ponzi factory based out of Singapore. Known Ponzi schemes Snap Innovations is tied to include Cloud Token and Torque Trading.
Laughably, after Torque Trading recently collapsed Snap Innovations
attempted to distance itself
from its scamming.
The only Snap Innovations acknowledged to be part of SnapBots on the company’s website is SnapBots Ambassador Amin Sukisawn.
SnapBots marketing material
additionally cites Snap Innovations executives Tan Duong and Donna Lee as SnapBots Ambassadors.
The rest of Snap Innovation’s executive team is credited as SnapBots’ “research team”.
Read on for a full review of SnapBots’ MLM opportunity.
SnapBots’ Products
SnapBots has no retailable products or services, with affiliates only able to market SnapBots affiliate membership itself.
SnapBots’ Compensation Plan
SnapBots affiliates invest in SNAP tokens on the promise of an advertised monthly return.
At the time of publication a calculator on SnapBots’ website provides a 1 SNAP = 0.845 USDT conversion rate.
SnapBot marketing material suggests SnapBots solicits investment in BTC, ETH and LTC.
Once invested in SNAP tokens are parked with SnapBots on the promise of a 2% to 5% monthly return.
The MLM side of SnapBots’ compensation plan pays on recruitment of new affiliates and returns they receive.
SnapBots pays referral and recruitment commissions via a unilevel compensation structure.
A unilevel compensation structure places an affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them (level 1):
If any level 1 affiliates recruit new affiliates, they are placed on level 2 of the original affiliate’s unilevel team.
If any level 2 affiliates recruit new affiliates, they are placed on level 3 and so on and so forth down a theoretical infinite number of levels.
SnapBots caps payable unilevel team levels at two.
Affiliates who pay a 1000 SNAP fee qualify to earn recruitment and referral commissions as follows:
level 1 (personally recruited affiliates) – 30% of returns paid
level 2 – 15% of returns paid
Recruitment commissions are paid on the 1000 SNAP fee charged to affiliates.
Referral commissions are based on returns paid to level 1 and 2 uni
🤖 Quick Answer
Who owns and operates SnapBots?SnapBots conceals ownership information on its website. Investigation reveals Bernard Ong, CEO of Torque Trading, served as SnapBots' Chief Financial Officer from March 2017 to August 2019. Ong holds a Managing Director position at Snap Innovations, which lists SnapBots as a project and shares multiple executives with both SnapBots and Torque Trading.
What is the connection between SnapBots and Torque Trading?
Bernard Ong, who was SnapBots' CFO, subsequently launched Torque Trading in October 2019. Multiple Snap Innovations executives work across both SnapBots and Torque Trading, indicating significant operational overlap between the two entities and their parent organization.
When was SnapBots registered and what is known about its domain?
The SnapB
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