On its website, CryptoProgram doesn’t say who owns it or who runs it.
The website domain for CryptoProgram, “cryptoprogram.me,” was registered privately on October 28, 2022.
After doing more research, I found that Ed Zimbardi is in marketing videos for CryptoProgram.
Instead of just saying that he runs CryptoProgram, Zimbardi has made up this story:
So, this program has been going on in the background for a long time. It has only been available to people who are part of a certain network.
I’ve been a part of it for a while and I’m very happy about it because it’s been going strong for a long time. And there was no sign that people outside of the network would be able to use it.
Well, I enquired. Why did I enquire? Because I’ve been in a lot of high-risk, high-reward programs that have come and gone.
I also know that the people behind the program make a lot of money because I know them. So it is possible to offer a big payout to clients.
So I asked the people who work on the back end of this program if they would let me help them make this online program that they own. Because I’d like to help people get their money back.
Zimbardi has been in marketing since the early 2000s, and he has a lot of experience with lead generation.
Zimbardi quit his job as CEO of EZJR in 2015.
The main thing we do at EZJR is use our own eCommerce platform to help brands, products, and services sell better.
Our unique method keeps the cost of getting leads to a minimum and then turns as many of those leads as possible into customers.
Zimbardi tried to sell himself as a marketing coach from June 2015 to June 2017. In the middle to end of 2017, Zimbardi joined iMarketsLive, an MLM with a focus on forex.
The CFTC gave iMarketsLive a $150,000 fine at the end of 2018 because the company had lied about commodities. After the fine, iMarketsLive quickly changed its name to IM Mastery Academy.
Around August 2018, Zimbardi stopped promoting iMarketsLive. After that, it looks like he got involved in securities fraud and Ponzi schemes.
Zimbardi says that he has “taken part in a lot of high-risk, high-reward scams.”
Some of them had very large rewards. As if your money doubled in twenty-two days. 3% each day, five days a week. Just an insanity of money.
I have lost a lot of money, and so have some of the people who have followed me.
This brings us to the end of 2022, when CryptoProgram will be released.
CryptoProgram’s website gets most of its traffic from the United Arab Emirates (56%) and the United States (36%), which is interesting to note.
Zimbardi lives in the US state of Georgia, according to his social media profiles. A lot of people from the UAE visit CryptoProgram, which suggests that Zimbardi has a partner or partners in Dubai.
Dubai is the world’s MLM crime capital. The rules for Dubai from BehindMLM are:
If someone from Dubai tells you about an MLM opportunity, they are trying to take advantage of you.
It’s a scam if an MLM company is based in or says it has ties to Dubai.
Read on for a full review to find out how this applies to CryptoProgram.
The Products of CryptoProgram
CryptoProgram has no products or services that can be sold.
Affiliates can only promote affiliate membership in CryptoProgram.
How CryptoProgram pays its members
Affiliates of the CryptoProgram buy $550 packages, which they pay for with either tether (USDT) or USD Coin (USDC).
This is done because of a promise of a 25% return on investment, which will be paid out after 32 days and then every 30 days after that.
At the end of a ROI cycle, you can withdraw your money, which includes the $550 you put into the package at the start.
The MLM part of CryptoProgram pays people who bring in other investors as affiliates.
CryptoProgram gives commissions to people who bring in new members down two levels (unilevel).
level 1 (affiliates you personally recruited): $25 for every $550 package invested, then $15 per 30 day ROI cycle.
level 2: $6.25 for every $550 package bought and every 30 days after that.
Referral commissions are paid until the last month, when money is taken out by affiliates who were brought in.
Signing up for CryptoProgram
Joining CryptoProgram is free, but if you want to take part in the attached MLM opportunity, you have to invest $550 in an active package.
CryptoProgram asks for money to buy tether and USD Coin.
The End of CryptoProgram
CryptoProgram says that it makes money from outside sources by trading “goods and services.”
We are a group of people who have been using an arbitrage strategy for more than 20 years in dozens of different online niches.
When you buy a package, the money goes toward buying goods and services at one price and selling them at a different price. This is called “online affiliate marketing,” and it involves sending both paid and natural traffic to websites to get people to buy services when the chance comes up.
That has made it possible for people who buy packages to have a long-term program where they earn a fixed 25% USDT on their crypto every month.
No proof is given that CryptoProgram actually trades.
The business model also doesn’t pass the “Ponzi logic test.”
Anyone who can consistently make 25% a month legally isn’t going to give you access for free. In fact, it’s likely that they wouldn’t let you in at all.
25% a month on even a small amount of money makes a lot of money very quickly.
From a legal point of view, CryptoProgram’s chance to invest without doing anything is clearly a securities offering.
Dubai is a scam-friendly crime haven that can’t be changed much, but CrpytoProgram has ties to the US through Ed Zimbardi, and the US is its second largest source of website traffic (geographic website traffic typically correlates with investor ratios).
The SEC is in charge of securities in the US. So, Zimbardi, CryptoProgram, and anyone else who promotes CryptoProgram must all be registered with the SEC.
Even though I can’t speak for every promoter, neither CryptoProgram nor Zimbardi are registered with the SEC.
This means that CryptoProgram is at least breaking the law when it comes to securities.
CryptoProgram seems to be well aware that they are breaking the law because they have this disclaimer:
As a private transaction, this program is exempt from the US Securities Act of 1933, the US Securities Exchange Act of 1934, and the US Investment Company Act of 1940, as well as all of their rules, regulations, and changes.
The platform is not backed by the FDIC. The platform is neither a bank nor a security company with a license. US clients are discouraged from taking part.
These kinds of disclaimers don’t mean anything. You can’t just say that securities law doesn’t apply to you and then break the law anyway.
Also, “clients from the United States are discouraged from taking part” is a meaningless statement. We already know that US investors make up the second largest group of CryptoProgram investors.
When MLM companies don’t do what they say they do, they are committing securities fraud. In the case of CryptoProgram, this means making money from outside sources by trading “goods and services.”
Since there is no outside source of income that can be verified, the only source of income that can be verified coming into CryptoProgram is new investments.
CrpytoProgram is a Ponzi scheme because it uses new money to pay out a 25% ROI every month.
As with all MLM Ponzi schemes, new money will stop coming in once affiliate recruitment stops.
This will stop CryptoProgram from getting money from ROI, which will eventually cause it to fail.
The math behind Ponzi schemes makes it clear that most people will lose money when they fail.