Troncase’s website, troncase.io, registered privately on September 9, 2020, offers no information about its ownership or management. Investigations into official Troncase marketing videos on YouTube revealed an Estonian language-based phone in use, suggesting a connection to Estonia for the individuals running the operation. This lack of transparency is a common characteristic of high-risk investment schemes.

By February 16, 2021, two individuals, Martin Karus and Erik Nurm, emerged as likely administrators for Troncase. Serial scammer Ryan Conley identified Karus and Nurm as Troncase’s Master Distributors in a video interview published on February 8. As Master Distributors, Karus and Nurm occupy top positions within the Troncase smart-contract hierarchy, effectively making them administrators in the absence of any publicly identified higher authority.

Both Karus and Nurm originate from Europe, reinforcing the earlier suggestion of an Estonian connection. Karus’s LinkedIn profile indicates he began in multi-level marketing with Amway in 2010. He described this venture as having "little success," which led him to promote various MLM Ponzi schemes. These schemes include Lyoness, Questra World, Cloud Horizon, and Crowd1. Erik Nurm was linked to the Nano Club Ponzi scheme in 2016. More recently, Nurm worked alongside Karus in promoting Cloud Horizon and Crowd1. According to their respective Facebook profiles, Martin Karus is currently located in Malaysia, and Erik Nurm in Thailand.

Troncase offers no retailable products or services. Affiliates can only market Troncase affiliate membership to others. This model, where revenue primarily derives from recruitment rather than product sales, is a hallmark of Ponzi schemes.

The Troncase compensation plan requires affiliates to invest a minimum of 100 TRX, the native cryptocurrency of the TRON blockchain. In return, affiliates receive a promised 300% return on investment (ROI). This ROI is paid out at a base rate of 1% per day. An additional 0.1% daily bonus is applied if no withdrawal is made, capping at a total bonus of 0.5% after five consecutive days without a withdrawal.

Further bonuses incentivize continued participation and recruitment. Affiliates receive an additional 0.1% bonus for every 50,000 new affiliate investors who sign up, up to a maximum of 0.5%. Another 0.1% bonus is paid for every 20,000,000 TRX in referral commissions distributed, also capped at 0.5%. A final 0.2% bonus is available for every 80,000,000 TRX invested company-wide, reaching a maximum of 1%. These escalating bonuses are designed to encourage larger investments and sustained engagement, driving the flow of new funds needed to pay earlier investors.

Referral commissions are paid through a unilevel compensation structure. This structure places an affiliate at the top of a personal team. Any affiliates they personally recruit are placed directly under them on level 1. If a level 1 affiliate recruits new members, those new members are placed on level 2 of the original affiliate's unilevel team. This pattern continues, placing recruits deeper into the team structure across potentially infinite levels. The reliance on continuous recruitment to fund payouts defines the Ponzi nature of the scheme.

At the time of this report, website traffic analytics from Alexa show Pakistan as the top source of visitors to Troncase’s website, accounting for 48% of traffic. The United States follows with 21% of Troncase’s website traffic. Investing in anonymous, unregistered cryptocurrency schemes promising high, fixed returns carries significant risk of capital loss. The US Securities and Exchange Commission (SEC) has repeatedly warned investors about the dangers of such platforms.