Eric Alexandre Ceret founded SwapIT, a platform offering token-based investments, with its website domain "swapit.io" privately registered on September 2nd, 2019. The company provides no public details regarding its ownership or operational structure on its official site.

Ceret, identified as SwapIT's CEO, has a history in cryptocurrency projects marked by volatility. His prior venture, JetCoin, launched in mid-2017. The token's value immediately dropped after release. It saw a brief surge in early 2018, climbing above one dollar, before stabilizing at a price between one and two cents. JetCoin currently trades around six cents. Such price movements are characteristic of speculative assets prone to pump-and-dump cycles.

Rune Evensen also holds a position on SwapIT's corporate team, according to public profiles. Evensen has a documented history of involvement in multi-level marketing (MLM) schemes, tracing back to Unaico SiteTalk. He later fronted The Opportunity Network, a reboot of the Unaico/SiteTalk model. Through connections with individuals like Dan Andersson, Sebastian Greenwood, and Kenny Nordlund, Evensen established ties to the OneCoin Ponzi scheme. More recently, in February 2019, Evensen served as CEO of Coss, a "bullshit crypto company" linked to Snap Innovations. Snap Innovations, described as a "crypto Ponzi factory," gained notoriety for Torque Trading, an MLM crypto Ponzi that defrauded investors of millions.

Both Eric Alexandre Ceret and Rune Evensen list Singapore as their base of operations on social media platforms. The presence of these individuals with documented histories in speculative or alleged fraudulent schemes raises questions about SwapIT's operational integrity. SwapIT does not offer any retail products or services. Instead, the platform focuses solely on marketing its affiliate membership to prospective investors.

Affiliates invest in "cards," each representing a single token. Investment tiers range from a "Starter" level at $50 for six cards to a "Legend" tier requiring a $10,000 investment for 1500 cards. Other tiers include Bronze ($200 for 25 cards), Silver ($500 for 60 cards), Gold ($1000 for 125 cards), Platinum ($2500 for 325 cards), and Diamond ($5000 for 700 cards). An "Apprentice" tier exists without an investment requirement. These card tokens are purportedly "randomly generated" as investments come in.

Once acquired, card tokens are "parked" in SwapIT pools. The company promises monthly returns paid in Bitcoin, claiming 30% of invested funds are allocated to these returns. SwapIT outlines six distinct monthly ROI pools. The "Community Pool" allows affiliates to invest up to 100 card tokens each month. The specific mechanics and qualification criteria for the remaining five pools were not fully disclosed.

The undisclosed ownership, combined with founders' previous ventures, presents significant risks for potential participants.