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Binaxx’s website contains no information regarding the company’s ownership or management.

What the website does have are connections to its social media profiles. Among those accounts is Binaxx’s official YouTube channel, where Sann Rodrigues hosts corporate marketing films for Binaxx.

Binaxx’s Zoom username is “Binaxx,” indicating that he is a company representative rather than a promoter.

Rodrigues has been directly pushing Binaxx on social media since October.

On August 31st, 2021, Binaxx’s website domain (“binaxx.com”) was privately registered.

Rodrigues is evasive about his precise role inside Binaxx. He is either running it or closely collaborating with whoever is.

Rodrigues, whose full name is Sanderley Rodrigues De Vasconcelos, is best known as TelexFree’s chief promoter.

TelexFree was a Ponzi fraud worth $3.6 billion. Rodrigues collected more than $3 million.

Rodrigues paid the SEC $1.7 million in 2017 to resolve TelexFree fraud accusations.

The humiliated fraudster has relocated to Portugal from the United States.

Rodrigues is the subject of an ongoing investigation by Brazilian authorities. In February 2020, it was revealed that Rodrigues fled Brazil for the United States with the assistance of the Federal Police.

Rodrigues was forbidden from leaving the country at the time due to ongoing criminal proceedings against him.

Brazilian authorities had made two arrests as of July 2020: one of the police officers involved and an attorney. Additionally, almost $340,000 in cryptocurrencies was seized.

Rodrigues then promoted iFreeX, BitinForex (Top10Cap), and Clube365.

All of these were Ponzi scams.

Clube365 was founded in early 2020. A visit to the scam’s website reveals that the domain name for Clube365 is for sale.

Stay tuned for a comprehensive assessment of Binaxx’s multilevel marketing opportunity.

Products by Binaxx

Binaxx does not sell items or services to the general public.

Affiliates are only permitted to promote the Binaxx affiliate membership.

Binaxx’s Compensation Plan 

Binaxx affiliates invest tether (USDT) or bitcoin (BTC) with the promise of passive profits that are “unlimited.”

The investment is subject to an annual fee, which affects the number of fees charged by Binaxx on returns:

  • C5 – $5 annual fee, minimum $150 USDT or 0.005 BTC, and Binaxx charges a 50% ROI fee;
  • A10 – $10 annual fee, minimum $150 USDT or 0.005 BTC, and Binaxx charges a 48% ROI fee;
  • A20 – $20 annual fee, minimum $150 USDT or 0.005 BTC, and Binaxx charges a 40% ROI fee;
  • A30 – $30 annual fee, minimum $150 USDT or 0.005 BTC, and Binaxx charges a 39% ROI fee;
  • A50 – $50 annual fee, minimum $150 USDT or 0.005 BTC, and Binaxx charges a 38 % ROI fee;
  • A70 – $70 annual fee, minimum $150 USDT or 0.005 BTC, and Binaxx charges a 37 % ROI fee;
  • A100 – $100 annual fee, minimum $150 USDT or 0.005 BTC, and Binaxx charges a 36 %  ROI fee;
  • A200 – $200 annual fee, minimum $150 USDT or 0.005 BTC, and Binaxx charges a 34% ROI fee;
  • A300 – $300 annual fee, minimum $150 USDT or 0.005 BTC, and Binaxx charges a 34% ROI fee;
  • X5 – $500 annual fee, minimum $500 USDT or 0.015 BTC, and Binaxx charges a 34% ROI fee;
  • X6 – $600 annual fee, minimum $300 USDT or 0.075 BTC, and Binaxx charges a 30% ROI fee;
  • X7 – $700 annual fee, minimum $5000 USDT or 0.15 BTC, Binaxx charges a 27% ROI fee;
  • X8– costs a yearly fee of $800, a minimum of $10,000 USDT or 0.25 BTC, and Binaxx charges a 25% ROI fee;
  • X10– charges a $1000 yearly fee, with a minimum deposit of $20,000 or 0.5 BTC, while Binaxx charges a 20% ROI fee.

Commissions for Referrals

Binaxx pays referral commissions on first fee payments and ROI fees levied against downline affiliates.

A uni-level compensation scheme is used to track referral commissions.

Binaxx appears to limit the number of paying uni-level team levels to thirty.

The amount of fees paid by a Binaxx affiliate determines the referral commission rates and the number of tiers commissions are paid on.

  • Affiliates in the C5 category do not receive referral commissions;
  • Affiliates in the A10 category receive 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, paid across levels 1 to 5;
  • A50 tier affiliates earn 25% on annual fees and 17% on ROI fees, paid across levels 1 to 7;
  • A70 tier affiliates earn 25% on annual fees and 20% on ROI fees, paid across levels 1 to 10;
  • A100 tier affiliates earn 30% on annual fees and 20% on ROI fees, paid across levels 1 to 12.

And so on respectively.

Binaxx’s MLM aspect is a little hazy.

Regardless of tier, I think 30 percent of fees are given out in commissions. This implies that higher-tier affiliates can receive the difference between commissions provided to lower-tier affiliates.

For example, if someone in your downline is an A30, they receive 20% and 14%. If you were an A200, you would make 30% and 22.5 percent.

Assuming there are no higher tiers between you and your A30 downline, you would get the 10%/12.5 percent difference on whatever commissions they make.

An affiliate or affiliates higher up the chain than A200 would receive the difference in ROI fees paid until the whole 30% was paid out (at A200 the full 30 percent on annual fees paid has already been paid out to you).

Earnings Limits

Binaxx has a 300 % profits ceiling; however, it’s unclear what this pertains to.

Given that returns are meant to be infinite, I assume the profits ceiling of 300 % applies to commissions received.

This might be either a daily/weekly/monthly cap or a subscription-based cap.

It’s not clear which of these is the earnings ceiling, and Binaxx makes no mention of it.

If it’s the latter (which I feel is more likely), the idea of “annual fee” only applies to people who aren’t recruiting.

Joining Binaxx

Binaxx affiliate membership costs $5 to $1000 per year.

The more an affiliate pays in fees, the less they spend in ROI fees and the more money they might make.

When the 300 % earnings maximum is achieved, it is unclear whether membership fees must be paid again.

Conclusion

After failing with simple crypto Ponzi schemes, Sann Rodrigues has returned with a “lulz can’t touch our money!” Ponzi fraud.

These schemes extensively market on the notion that they cannot immediately access monies housed in a third-party exchange account.

They don’t have to, in fact. Affiliates give Binaxx entire control of their funds via a bot.

Binaxx created the bot and does everything they tell it to do. This can be altered on the spur of the moment.

“Lulz can’t have our money!” Ponzi schemes use a bot to transfer money between accounts. This occurs through transactions but is not lucrative trading.

When affiliate recruiting slows up, a “lulz can’t touch our money!” hoax crumbles, and affiliate accounts are depleted.

To cover this up, a slew of reasons are concocted. It was described as a “technical mistake” by iQuandex. It was dubbed a “rare black swan market situation” by Digital Profit.

The eventual effect was the same. The administrators of the frauds stole the money of the affiliates.

MLM firms that provide passive investment programs must be registered on the regulatory front.

Binaxx and Sann Rodrigues are not registered to offer securities service in any country.

Rodrigues was explicitly barred from conducting additional acts of securities fraud as part of his TelexFree settlement.

Binaxx’s website was ranked 8 million by Alexa at the time of publishing. This is increasing, implying that recruiting is rising.

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