Pitrex Review – Another Crypto MLM Ponzi Scheme?
- Crypto MLM Reviews
- September 25, 2024
Welcome to my Pitrex Review!
Pitrex is a relatively new player in the MLM world, but its lack of transparency and dubious promises of passive returns raise serious red flags. Operating under the guise of “quantitative trading,” Pitrex looks eerily similar to a long list of “click a button” Ponzi schemes that have surfaced since 2021. Let’s take a closer look at what’s really going on with this platform.
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Who’s Running Pitrex? No One Knows
One of the most concerning aspects of Pitrex is its complete failure to provide any verifiable ownership or executive information. The company operates under two known domains:
- pitrex.pro – registered on April 30th, 2024
- pitsp.com – first registered in 2016, updated on January 9th, 2024
While Pitrex tries to appear legitimate by offering up a company registration for Pitrex LLC, it’s important to note that these certificates are often meaningless in the MLM world. Shell companies with bogus details are easy to register, and in this case, they don’t provide any real insight into who’s behind Pitrex.
A deeper dive into Pitrex’s website reveals that it runs on the Meiqia platform, a Chinese software company based in Beijing. This strongly suggests that whoever is running Pitrex has ties to China.
Reminds me of TOST and FluxCart.
Pitrex’s Products: There Are None
As with many Ponzi schemes, Pitrex doesn’t offer any actual products or services. Affiliates aren’t able to sell anything to retail customers, which is a significant red flag in the MLM industry. Instead, the only thing affiliates can do is market Pitrex membership to other potential investors.
Compensation Plan: Heavy Reliance on Recruitment
Pitrex’s compensation plan is centered around investments in tether (USDT). Affiliates are promised daily passive returns based on their investments, but the specific investment tiers are not disclosed on either of Pitrex’s websites.
The company also offers referral commissions for bringing in new recruits, paid across three levels:
- Level 1 (direct recruits) – 20%
- Level 2 – 6%
- Level 3 – 3%
This emphasis on recruitment rather than actual sales is a hallmark of a Ponzi scheme.
Cost to Join Pitrex Reviews
While joining Pitrex is free, full participation in its income opportunity requires an investment in USDT.
Conclusion: Is Pitrex a Ponzi Scheme?
Pitrex is yet another “click a button” Ponzi scheme, where affiliates are encouraged to log in and click a button daily. The platform claims this generates revenue through “quantitative trading,” but let’s be honest—clicking a button doesn’t trigger any real trading activity. What’s really happening is simple: new investments are used to pay off earlier investors.
Pitrex is part of a growing trend of Ponzi schemes that have emerged since 2021. Many of these schemes, such as World Quant AI, AI Global, and Wheatland AI, have already collapsed. Like its predecessors, Pitrex is likely to disappear without warning, leaving most investors with substantial losses.
It’s also worth noting that organized crime groups from China are believed to be behind many of these Ponzi schemes. The US Department of Treasury recently sanctioned Cambodian politician Ly Yong Phat for his involvement in sheltering Chinese scammers, further exposing the shady operations behind these “click a button” platforms.
If you’re considering investing in Pitrex, think twice. History shows that these schemes never end well.
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