On its website, Binaxx makes no mention of the company’s owners or executives.
Links to its social media are what its website does offer. One of such accounts is the official Binaxx YouTube channel, where Sann Rodrigues hosts corporate marketing films for the drug.
The fact that Binaxx’s Zoom account is named “Binaxx” indicates that he is speaking for business rather than a promoter.
That being said, since last October, Rodrigues has been actively marketing Binaxx on social media.
The domain name “binaxx.com” for Binaxx’s website was privately registered on August 31, 2021.
Rodrigues is vague about his precise position inside Binaxx. But it’s obvious that he’s either in charge of it or closely collaborating with whoever is.
The most prominent advocate of TelexFree is Rodrigues, whose full name is Sanderley Rodrigues De Vasconcelos.
A $3.6 billion Ponzi fraud, TelexFree. Over $3 million was kept by Rodrigues personally.
Rodrigues paid the SEC $1.7 million to resolve fraud allegations involving TelexFree in 2017.
It’s thought that the discredited con artist relocated to Portugal from the US.
Rodrigues is the subject of an ongoing investigation by Brazilian authorities. It was discovered in February 2020 that Rodrigues had used Federal Police to leave Brazil for the US.
Rodrigues was unable to leave the country at the time because of legal procedures against him.
Brazilian authorities had detained a lawyer and one of the involved police officers as of July 2020. Additionally, more than $340,000 in cryptocurrencies had been taken.
Rodrigues promoted iFreeX, BitinForex (Top10Cap), and Clube365 after TelexFree.
Each of these was a Ponzi scam.
Early in 2020, Clube365 appeared. The domain for Clube365’s website is up for sale, according to the fraudulent website.
For a thorough analysis of Binaxx’s MLM potential, keep reading.
Products from Binaxx
No retailable goods or services are offered by Binaxx.
Only the Binaxx affiliate membership itself may be promoted by affiliates.
Compensation Plan for Binaxx Affiliates of Binaxx invest tether (USDT) or bitcoin (BTC) with the promise of passive earnings with “no limit.”
The amount of costs Binaxx levies on returns is based on a yearly fee that is connected to investment:
A10 – $10 annual fee, min $150 USDT or 0.005 BTC, and Binaxx charges a 48 percent ROI fee A30 – $30 annual fee, min $150 USDT or 0.005 BT, C and Binaxx charges a 39 percent ROI fee A50 – $50 annual fee, min $150 USDT or 0.005 BTC and Binaxx charges a 38 percent ROI fee A70 – $70 annual fee, min $150 USDT or 0.005 BTC and Binaxx charges a
In addition to ROI fees levied on downline affiliates, Binaxx also pays referral commissions on initial fee payments.
A uni-level compensation scheme is used to monitor referral commissions.
An affiliate is put at the head of a unilevel team in a unilevel pay system, and each affiliate they recruited is positioned immediately under them (level 1):
New affiliates brought on by any level 1 affiliates are added to the original affiliate’s unilevel team at level 2.
If any level 2 affiliates bring on new affiliates, they are promoted to level 3, and so on down a theoretically endless number of levels.
The maximum possible Unilever team levels in Binaxx appear to be thirty.
The amount of fees a Binaxx affiliate pays determines the referral commission rates and the number of tiers commissions are paid on.
Affiliates in the C5 category do not get referral commissions.
Affiliates in the A10 category are paid 10% of level 1 yearly fees (personally recruited affiliates)
A20 tier affiliates earn 15% on annual fees and 10% on ROI fees, paid across levels 1 to 3; A30 tier affiliates earn 20% on annual fees and 14% on ROI fees; A50 tier affiliates earn 25% on annual fees and 17% on ROI fees; A70 tier affiliates earn 25% on annual fees and 20% on ROI fees; A100 tier affiliates earn 30% on an annual basis and 30% on an ROI basis.
Binaxx’s MLM component is not entirely obvious.
I think commissions, regardless of tier, account for about 30% of the fees paid. The difference in commissions given to affiliates of lower tiers can thus be collected by affiliates of higher tiers.
For instance, if someone in your downline is an A30, they will receive 20 and 14 percent respectively. If you were an A200, your pay would be 30% and 22.5 %.
You would receive the 10 percent /12.5 percent difference on whatever commissions they receive, assuming there is no one in a higher tier between you and your A30 downline.
When ROI fees are paid, an affiliate or affiliates higher than A200 upline will keep the difference until the entire 30% is distributed (at A200 the full 30 percent on annual fees paid has already been paid out to you).
There is a 300 percent profits cap on Binaxx, but it’s not obvious to whom it affects.
I think the 300 percent profits ceiling refers to commissions earned because returns are meant to be infinite.
This would either be a subscription-based cap or a periodic cap (daily, weekly, or monthly).
Although Binaxx doesn’t say, I’m not clear which of these is the earnings cap.
The term “annual fee” only truly applies to people who aren’t recruiting if it’s the latter, which I think is more likely.
The annual cost of a Binaxx affiliate membership ranges from $5 to $1000.
An affiliate might earn more money by paying more in fees since they pay less in ROI fees.
When the 300 percent earnings maximum is achieved, it is unclear if membership fees must be paid again.
Binaxx Final Verdict
Sann Rodrigues is back with a “lulz can’t touch our money!” Ponzi scam after failing miserably with more traditional crypto Ponzi schemes.
These scams largely capitalize on the idea that they are unable to have direct access to money housed in a third-party exchange account.
They don’t have to, in actuality. Through a bot, affiliates hand over full control of their funds to Binaxx.
The bot is programmed by Binaxx and follows their instructions. This can be altered at will.
“Lulz can’t have any of our cash,” Ponzi schemes use a bot to transfer funds between accounts. Trading is used for this, although it isn’t lucrative trading.
A “lulz can’t touch our money!” fraud fails and drains affiliate accounts when affiliate recruiting stops.
There are several justifications used to hide this. Technical error, according to index. It was described as a “rare black swan market situation” by Digital Profit.
The outcome was the same. Scammers’ administrators stole affiliates’ money.
MLM businesses that provide passive investment plans must register with the appropriate regulatory body.
Sann Rodrigues and Binaxx are not authorized to offer securities in any country.
As part of his TelexFree settlement, Rodrigues was expressly forbidden from engaging in any more securities fraud.
The website for Binaxx is now ranked at 8 million by Alexa. This indicates that recruiting is increasing as it is rising.
Refer to index and Digital Profit to see how Binaxx will conclude after it quits.