If you’re curious about the company’s management or founders, you won’t find any hints on the Binary Torrent website.
Binary Torrent’s website is a placeholder before its official release; it says the firm will officially begin operations on August 27.
The internet name “binarytorrent.com” (which hosts the Binary Torrent website) was privately registered on January 4, 2022.
An agreement from “Bo Jensen” led BehindMLM to discover Binary Torrent only last month.
Jensen’s email, sent from an address within the BinaryTorrent domain, advertised Binary Torrent as a “rescue package” for eEcomelize.
Jan-Eric Nyman started the isomerize pyramid scheme in the year 2020.
The Unaico SiteTalk pyramid scam is where MLM and Nyman first met. He is currently best known as the man who created the fraudulent cryptocurrency known as OneCoin.
Following the failure of carmelizing in the middle of 2021, Nyman became the public face of another illicit lottery operation called Lucky Dozens.
The Lucky Dozens pyramid scheme failed around September or thereabouts of 2021. About four months later, Nyman bought the domain name for Binary Torrent’s website.
Learn more about the MLM potential of the Binary Torrent platform in the following article.
The Goods of Binary Torrent
Brokers in the Binary Torrent network have bought Lapland Mineral Gold Tokens (LMGT).
Package White: Spend €99 and get 16 LMGT for Free!
Green Bundle: Put down €199 and get 50 LMGT.
Blue Package: Spend 499 Euros to get 175 LMGT.
Spend EUR 1299 and receive 500 LMGT in the “Red Package.”
Put in €2549 and get 1100 LMGT in the Purple Package.
Spend EUR 5049 and get 2300 LMGT in the Black Package.
Affiliates who want to continue earning commissions from Binary Torrent must reinvest at least once every four months.
To put it another way, “one token is tied to 0.1-gram gold” is the value of one Binary Torrent token. Furthermore, Binary Torrent explains, “investors frequently consider gold one of the safest
“investments,” meaning that capital put into LMGT will earn interest on its own.
Binary Torrents’ multi-level marketing (MLM) component is funded by the investment capital of affiliates recruited into the MLM.
Restrictions on Withdrawal
Binary Torrent limits withdrawals from affiliates by classifying them into three distinct groups:
trading wallet – required reinvestment using Binary Torrent’s internal exchange tokens cash wallet – can be withdrawn for actual money Tokens of the LMGT cryptocurrency can be withdrawn.
The maximum package level an affiliate has invested in determines the minimum and maximum withdrawal amounts that can be made without further review by Binary Torrent.
Participants in the White Package get 40% in cash, 30% in trading tokens, and 30% in LMGT tokens for withdrawals.
Affiliates at the Green Package level earn 50% of cash withdrawals, 25% of trade withdrawals, and 25% in LMGT tokens.
Affiliates at the Blue Package level earn 60% of cash withdrawals, 20% of trading wallet withdrawals, and 20% in LMGT tokens.
70% of cash wallet withdrawals, 15% of trading wallet withdrawals, and 15% of LMGT tokens are distributed to Red Package affiliates.
Affiliates in the Purple Package tier earn 80% of withdrawals in cash, 10% in trading wallet tokens, and 10% in LMGT tokens.
Affiliates in the Black Package level receive 90% of withdrawals in cash, 5% in a trading wallet, and 5% in LMGT tokens.
Affiliate Positions for the Binary Torrent
The Binary Torrent affiliate program consists of eleven different levels.
To go along with their specific requirements, here they are:
Join the Binary Torrent affiliate program by making an initial investment of EUR 99 or more and then reinvesting the proceeds every four months.
Managers are required to put in at least €110 of their own money, find and keep two Affiliates or above, and create a minimum of 5,000 GV in weaker binary team side volume every year.
Directors must make a personal investment of at least EUR 220, bring on at least three Affiliates and keep them active, and create at least 10,000 GV in weaker binary team side volume over a year.
To qualify as an Executive, you must have personally invested at least EUR 440, recruited and maintained at least four Affiliates, and generated a minimum of 20,000 GV in weaker binary team side volume over the previous 12 months.
Your investment must be at least EUR 880, you must keep six Affiliates or above (one must be Executive or higher), and your weaker binary team’s side volume must have totaled at least 40,000 GV over the last 12 months for you to qualify as a Ruby.
To achieve Emerald status, you must keep a EUR 880 investment active, recruit and retain seven Affiliates or above (one must be Ruby or higher), and create 75,000 GV in aggregate weaker binary team side volume over the previous 12 months.
Diamond: Minimum personal investment of EUR 1650, eight active Affiliates (at least one must be Emerald or above), and 150,000 GV in weaker binary team side volume generated over the preceding 12 months.
Maintain a EUR 1650 investment, bring in nine Affiliates or above (one must be Diamond or higher), and create 300,000 GV in weaker binary team side traffic over a year to get the Blue Diamond rank.
A Black Diamond must have a minimum personal investment of EUR 4,950, must have nine or more active Affiliates or above (at least one must be a Blue Diamond or higher), and must have generated 750,000 GV in weaker binary team side volume during the last 12 months.
Maintain an active EUR 4,950 investment, keep nine personally recruited Affiliates or above (one must be a Black Diamond or higher), and create 1,500,000 GV in aggregate weaker binary team side volume over the last 12 months to earn the title of “Crown Diamond.”
Maintain a EUR 4,950 investment, keep nine Affiliates or above (one must be a Crown Diamond), and create 5,000,000 GV in weaker binary team side volume over the previous 12 months to get the Presidential Diamond rank.
The abbreviation “GV” means “Group Volume” in the jargon. In this case, Binary Torrent determined GV to be 90% of capital.
Consequently, the investment quantities advertised in Binary Torrents’ packages are insufficient. For this reason, I have included the necessary investment amounts in euros rather than linking them to a predetermined subscription tier.
Affiliates that promote Binary Torrent can earn 10% of their recruited affiliates’ LMGT token investments.
Compensation for Continuing Efforts
Affiliates that promote Binary Torrent are eligible for a binary compensation scheme that provides for the payment of both upfront and ongoing commissions.
Typically, under a binary pay system, one affiliate will lead a two-way, symmetrical team (left and right).
With a binary team, there are always exactly two open spots on the ground floor. After dividing these initial two roles in half, the binary team has its second level (4 positions).
Each succeeding level of the binary team has twice as many spots as the level before it was produced.
Affiliates are recruited both directly and indirectly to fill open positions on the binary team. Keep in mind that there is no maximum depth to a binary team.
Each week, at the close of business, Binary Torrent tallies the total amount of money invested by both sides of the binary team.
On the side of the weaker binary team, residual commissions are paid as a proportion of new investment volume, scaled by rank.
Affiliates receive a 10% ongoing commission with no limits.
The weekly maximum for a manager’s residual commission is EUR 100.
Directors are eligible for a 12% residual commission rate, with a weekly maximum of EUR 250.
The weekly maximum residual commission for executives is EUR 500.
There is a weekly maximum of EUR 1000 on the residual commission that Rubys can receive.
Emeralds receive a weekly residual commission of EUR 4000 (or 15% of their weekly base salary, whichever is greater).
Diamonds receive a weekly residual commission of EUR 10,000 (16%).
With a weekly ceiling of EUR 20,000, Blue Diamonds receive a residual commission rate of 17%.
Earnings for Black Diamonds are restricted each week to EUR 30,000 in residual commission.
The weekly maximum residual commission for Crown Diamonds is EUR 40,000.
The weekly ceiling for Presidential Diamonds’ 20% residual commission is EUR 50,000.
When the payout is made, the money is flushed against the winning side of the binary team.
Any unused space on the side of the more powerful binary team is transferred.
Binary Torrent’s Matching Bonus is paid out through a straightforward, one-tiered compensation plan.
With a unilevel pay plan, an affiliate is at the top of a team and each person they recruit is at the same level as them.
New affiliates recruited by an affiliate on level 1 join the original affiliate’s unilevel team at level 2.
Affiliates on level 2 who bring in new members are promoted to level 3, and so on, potentially infinitely deep into the network.
A maximum of nine “unilevel” team levels can be reached for the Matching Bonus in Binary Torrent.
As before, the Matching Bonus is a rank-based proportion of residual earnings generated by unilevel team affiliates across all nine levels:
On the first tier, directors receive a 10% bonus (personally recruited affiliates)
Top-level executives receive a 10% bonus on their first and second year’s salaries.
In the first three tiers, Rubys receive a 10% bonus.
There is a 10% increase for Emeralds on the first three levels and a 5% increase on the fourth.
On levels 1-3, diamonds earn a 10% match, while on levels 4-5, they earn a 5% match.
On levels 1-6, the Blue Diamonds receive a 10% match, 5% on levels 4-5, and 2.5% on level 6.
On levels 1-3, Black Diamonds receive a 10% match, on levels 4-5 a 5% match, and on levels 6-7 a 2.5% match.
Levels 1-3 receive a 10% match for Crown Diamonds, levels 4-5 receive a 5% match, and levels 6-7 and 8 receive a 2.5% match.
Levels 1-3 receive a 10% match for Presidential Diamonds, levels 4-5 receive a 5% match, and levels 6-9 receive a 2.5% match.
Benefits for Reaching Higher Ranks
As an additional incentive for reaching the Executive level and beyond, Binary Torrent offers the following one-time Rank Achievement Bonuses to its affiliates:
Lifestyle Bonus: €100 for Executive tier, €500 for Ruby, €1000 for Emerald, €5,000 for Diamond, €10,000 for Blue Diamond, €15,000 for Black Diamond, €30,000 for Crown Diamond, €50,000 for Presidential tier.
All affiliates from Diamond to Presidential Diamond level are eligible for a monthly Lifestyle Bonus.
The monthly salary for diamonds is €500.
The monthly compensation for Blue Diamonds is one thousand Euros.
The monthly salary for Black Diamonds is EUR 1500.
The monthly salary for Crown Diamonds is €2000.
The monthly salary for Presidential Diamonds is 5,000 Euros.
Rewards for the Top Ranks of the Binary Torrent Affiliate Program Black Diamond Trips
We are taking our co-founders, management, and mining operation partners on a one-of-a-kind, all-expenses-paid luxury vacation.
As long as the Black Diamond status is kept, the trip is given out annually.
A Participant in the Binary Torrent
A yearly fee is required to maintain a Binary Torrent affiliate membership. Amounts owed are left a mystery.
Each Binary Torrent affiliate must also make a quarterly investment of €99 to €5049 to receive commissions.
Concluding Remarks on the Binary Torrent
In essence, Binary Torrent is just a tweaked version of the OneCoin Ponzi scheme.
Publishing rights have replaced educational packages, and LMGT tokens stand in for ONE token. There are also withdrawal limits imposed to keep as much money as feasible within the system for as long as possible.
Binary Torrent was “established in the USA with operations in Sweden and Vietnam,” according to the company’s official marketing presentation.
To dissect the three pillars of the Ponzi scam that is Binary Torrent, it is necessary to examine this assertion.
Both Binary Torrent LLC and Made4Share Publishing LLC are Delaware limited liability businesses, and they are the only entities associated with Binary Torrent that have any US presence.
On March 21, 2022, Made4Share Publishing LLC was formally established. Although I couldn’t pinpoint when exactly Jan-Eric Nyman bought the name “made4share.com,” I can see that it was parked as recently as December 2021 according to the Wayback Machine.
By using the Made4Share platform, Binary Torrent allows its investors to share e-books with the world.
Use Made4Share to have your e-book read by millions of people online. The modern approach to being seen, recognized and valued.
The LMGT token investment packages offered by Binary Torrent include the necessary credits for this purpose.
The fact that Jan-Eric Nyman hails from Sweden is the Swedish link to Binary Torrent.
Simon Le is the bridge between Vietnam and Binary Torrent.
Le was a high earner in OneCoin, where he promoted the cryptocurrency in Vietnam and signed up new members. We left for Vietnam after the 2017 bankruptcy of OneCoin.
Since then, he has tried to start other offshoot Ponzi schemes, but none of them have succeeded. Late in 2021, Le was seen again by BehindMLM as a participant in the WinWheel Ponzi scheme, which was again being conducted by the same people who had previously run the OneCoin fraud.
There was an immediate failure of WinWheel following its initial release. The fraudulent website is currently unreachable.
The second part of Binary Torrent is a Panamanian front business called Lapland Minerals Inc., which Nyman incorporated in about March 2022.
There is no recognized regulation of MLM-related securities fraud in Panama, making it a scam-friendly state.
Nyman has formed Lapland Minerals in this jurisdiction so that LMGT coins can be created there.
The LMGT coin is worthless in comparison to other BEP-20 tokens. On the Binance Smart Chain, users can generate BEP-20 tokens. One may be set up in a matter of minutes and for next to nothing.
To back up his statements, Nyman has used Lapland Minerals.
All 1.2 billion LMGT are backed by legitimate claims to 0.1 grams of Gold.
This is the foundation on which Nyman sells LMGT to investors “based on the current gold price index,” which is completely bogus.
It’s an intriguing feature of Binary Torrent, as it means that every investor suffers an immediate loss.
If, for example, you’re interested in losing EUR 5049 to a serial Ponzi schemer, you can consider investing in Binary Torrent’s Black Package.
You’ll receive 2300 LMGT tokens at an average cost of €2.19 each.
A single LMGT token is equal to 0.1 g of gold in the eyes of Binary Torrent.
A kilogram is equal to one thousand grams, thus we multiply 2.19 by 10,000 to get the LMGT value for one kilogram of gold.
That translates to EUR 21,900. At the present exchange rate, one kilogram of gold is worth around €56,463 (USD 58,050).
It’s a quick 61% fall in value for the bogus gold tokens of Binary Torrent.
The situation becomes much direr when one considers the market value of LMGT:
The current price of LMGT is close to 0.40 EUR. For the low, low price of EUR 2.19, Jan-Eric Nyman will sell you a token he conjured out of thin air. Each one is worth no more than 0.40 EUR on the open market.
Remember that none of this is meant to pass the logic test. Nyman has just constructed a Ponzi scheme using a slew of front firms to conceal his true financial intentions.
The Ponzi scheme is meant to allow existing investors to pay out once new investors join the scheme and LMGT begins pumping.
This is likely to continue as long as fresh capital is committed to a losing venture. Even if Nyman is selling LMGT to Binary Torrent affiliates for 0.40 EUR apiece, the price has to be inflated at least that much.
The Multi-Level Marketing component of Binary Torrent is a pyramid scam, similar to that of OneCoin. Binary Torrent is a Ponzi scheme, and the only way to keep the money flowing is to encourage new investors to sign on as affiliates.
After OneCoin, Nyman, and Le launched other unsuccessful Ponzi schemes. As far as I can tell, Binary Torrent will follow the same pattern.
Even if the scam gains traction and Nyman and Le can pay out, most Ponzi scheme investors always lose money.