IconX Review – SCAM or Legit Crypto Mining Race?
- Crypto MLM Reviews
- January 15, 2025
Welcome to my IconX Review!
Let’s talk about IconX—the latest MLM scheme that’s making big claims but raising even bigger red flags. If you’ve stumbled upon IconX and its promises of lucrative mining returns, it’s time to hit the brakes. From dubious ownership details to shady compensation plans, IconX checks all the boxes for a textbook MLM setup that relies on questionable practices. Let’s dive deep into what makes IconX a risky proposition for your hard-earned money.
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Who’s Behind IconX Review?
Here’s the first glaring red flag: IconX fails to provide clear ownership or executive information on its website.
The domain “iconx.tech” was privately registered on March 9, 2024. While the website names Danyal Islam, Rado Mulej, and Hind el Hadaj as part of a “community trustees council,” further investigation reveals these individuals are just promoters with no verifiable authority or control over the company.
Digging deeper uncovers connections to Dubai’s Al-Maktoum ruling family:
- Saeed bin Hasher Al-Maktoum – IconX’s Chairman
- Solaiman Al-Rifai – IconX Board Member
- Ram Alsridi – Managing Director and Board Member
- Ali Abuzinjal – Community Director
The plot thickens when you learn these individuals were all tied to Safir International’s Zeniq Coin Ponzi scheme, which collapsed in 2023. That’s not exactly a resume that inspires confidence.
IconX’s Products
IconX has no actual products or services for retail sale. Instead, affiliates are left to market IconX memberships and investment positions tied to “mining cards” and “mining machines.”
Membership tiers include:
- Starter ($100/year): Access to 2 mining card positions
- Premium ($300/year): Access to 9 mining card positions and 4 mining machines
- Platinum ($1000/year): Access to 20 mining card positions and 15 mining machines
Investments in mining cards start at $400 and promise a 118% return every 90 days. But let’s be real—these numbers scream unsustainable Ponzi math.
Compensation Plan: Recruitment Is King
IconX incentivizes recruitment over actual product sales, making it a classic pyramid scheme.
Affiliate Ranks
IconX affiliates climb through nine ranks, with advancement tied to recruiting and generating volume in the binary compensation structure. For example:
- Star 600: Generate $600 in volume on both sides of the binary tree.
- Icon: Generate $9,000,000 in volume and have four Senior Vice Presidents in your team.
Residual Commissions
IconX uses a binary compensation model to pay residual commissions. Affiliates earn 10% of new volume on the weaker side of their binary tree. Once payouts are made, matching volume is flushed, and leftover volume carries forward.
Referral Commissions
Affiliates earn:
- 10% on membership fees
- 5% on mining card and machine investments
What’s Really Going On?
IconX markets itself as a crypto mining platform, but there’s no evidence to back up these claims. The company provides no audited financial reports or proof of revenue from actual crypto mining.
Instead, IconX uses newly invested funds to pay out returns to earlier investors—classic Ponzi mechanics. And with its founders’ history in collapsed MLM scams, it’s not hard to see where this is heading.
Conclusion: A Risky Gamble
IconX is an MLM masquerading as a crypto mining opportunity, built on shaky foundations of pyramid and securities fraud. With ties to past Ponzi schemes and a lack of transparency, it’s only a matter of time before the house of cards collapses. If you value your money, steer clear of IconX.
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