Call my cynical but I can’t see any legitimate reason for an MLM company to by domiciled in Singapore, owned by a shell company in Dubai and operated by someone living in the US.
The corporate structure of Coin Leaders appears to have been implemented with money laundering in mind.
That might sound harsh right off the bat but upon consideration of Coin Leaders’ compensation plan, is wholly justifiable.
Coin Leaders is pretty much John Pretto’s attempt at the OneCoin Ponzi business model.
Affiliates invest in “cycles” (OneCoin tokens), which are converted into DasCoin (OneCoins), which are assigned an arbitrary value by DasCoin, a centralized authority.
DasCoin itself is not publicly tradeable and can only be acquired through Coin Leaders investment. Oh and it fits into the whole money laundering theme by purportedly being based in Hong Kong.
The Coin Leaders website identifies the CEO of DasCoin Limited as Michael Mathias.
Surprise surprise, Mathias is/was also a OneCoin affiliate.
Coin Leaders and DasCoin present the usual comparisons to legitimate cryptocurrencies and crap about external use of the coin through a merchant network.
The reality however is that Coin Leaders and DasCoin offer up nothing more than a Ponzi pyramid hybrid.
Our premiere license … provides an unparalleled combination of benefits and yields rewards that are a 10x magnitude greater than even the Executive License!
The Ponzi element of Coin Leaders is the investment of funds which are converted into DasCoins. The value of DasCoin is assigned by DasCoin Limited, the company running the point-generation script that spits out DasCoins.
The value of DasCoins is pegged to nothing more than the rate of investment from Coin Leaders affiliates.
Affiliates cash DasCoins through Coin Leaders, who use newly invested funds to pay off existing investors.
Albeit convoluted in an attempt to pose as a legitimate cryptocurrency, this is nonetheless the definition of a Ponzi scheme.
Coin Leaders’ pyramid layer is found in its referral commissions, wherein affiliates are paid to recruit new affiliate investors.
Referral commissions are paid out of funds invested by newly recruited affiliates.
As with all Ponzi schemes, once recruitment of new affiliate investors dries up Coin Leaders will collapse.
This has already presented itself in OneCoin, amid reports that
coin withdrawals by affiliates are next to impossible (the only source of income for most is referral commissions).
From the looks of it Coin Leaders appears to have been launched by Ponzi scammers who joined OneCoin and then left for whatever reason.
I’m sure that’ll end well…