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The securities scam that began with My Blockchain Life is continued with My BlockX.

When BehindMLM last checked in on My Blockchain Life, it mentioned the debut of an opportunity involving the BlockX Trading AI bot.

Angry US BLKX bagholders appeared in the comments section of that article after it was published, but My BlockX as a business opportunity had died.

That changed a few months ago when a member of My BlockX made contact with Colombian authorities.

Glenn Williams served as the founding president of My Blockchain Life.

Williams posted anti-vaxxer memes on Facebook for most of 2020 and 2021. COVID-19 caused his death in October 2021.

My block is still definitely being managed by someone, and Jeremy Sowerby’s name continues coming up.

I was unable to independently confirm that Sowerby is the rightful proprietor of My BlockX.

If Sowerby (on the right) is in charge of My BlockX, he maintains a high profile. Given his lengthy history of MLM cryptocurrency scams, it makes sense.

As the proprietor and CEO of Dunamis Mining, Sowerby is well known.

Early in 2019, Dunamis Mining, an MLM Ponzi with a cryptocurrency “mining” motif, was introduced.

A few months after starting up, Sowerby appointed BitClub Network con artist Joe Abel as CEO and changed the company’s name to Dunamis Global Tech.

By the end of 2019, Dunamis Global Tech has ceased to exist. Travis Bott’s Onyx Lifestyle Ponzi received the affiliate investor base that Sowerby sold to it.

A few months later, in the middle of 2020, My Blockchain Life debuted. I think Sowerby is quiet because of his close relationship with Joe Abel.

In a word, My BlockX’s product is a staking investment scheme and an auto trading bot, two stages of securities fraud.

To participate in the staking investment program, My BlockX affiliates must stake at least $2500 in BLKX tokens.

My blocks produced the useless ERC-20 token BLKX. ERC-20 tokens may be produced quickly and for little to no money.

BLKX tokens are parked with My BlockX after being purchased with the guarantee of up to 42% yearly ROI:

Returns are paid in BLKX, which My BlockX will convert to “another crypto” upon request.

To pay for these withdrawal requests, My BlockX only recycles already invested cryptocurrency on the backend. Consequently, the Ponzi scam.

The “Limitless Trading Engine” is the name given by My BlockX to their automated trading bot system.

My blocks affiliate must first deposit at least $2500 into the staking investment plan to access Limitless Trading Engine.

My blocks advertise a further 580% yearly ROI via Limitless Trading Engine:

Every MLM crypto Ponzi employs Limitless Trading Engine as their standard trading bot gimmick.

Our AI employs patented automated algorithms to find chances to Buy and Sell in the market that would take humans an eternity to act upon.

You won’t need to worry about anything since the Limitless engine makes the appropriate movements at the appropriate times, with the appropriate quantities, and with the appropriate assets.

My blocks provide the following rubbish in place of registering with financial regulators and providing the legally necessary audited financial reports:

In addition to the $2500 that is tied up in BLKX staking, My BlockX can cost up to $9997 per year for access to the Limitless Trading Engine:

Starter Plan: $2497 annually; $10,000 maximum per trading account

Growth Plan: $497 per year with a $50,000 trading account maximum and “increasing earnings”

No trading account cap, unlimited plan for $9997 a year, and “maximized profitability”

You are probably familiar with the routine: “But they can’t touch our money!” -> bot blows up or “technical issues” -> sorry for your loss.

My block does not offer any details about their MLM opportunity. They could still be utilizing the outdated My Blockchain Life payout structure, modified to account for BLKX investment and trading bot costs.

In any case, My BlockX is at the very least engaging in securities fraud. The MLM industry and securities fraud are ideal for a Ponzi scheme.

The fact that My BlockX has no verifiable external revenue stream that is used to fund withdrawals is more proof of this.

In that regard, My BlockX remained mostly dormant until a few months ago after defrauding mainly US investors.

According to SimilarWeb, 95% of the traffic to My BlockX’s website is now coming from Colombia, and that number is rising.

Financially speaking, this is the US BLKX bagholders of My BlockX dumping to new, credulous Colombian investors.

These BLKX transfers take place through My BlockX, an internal exchange connected to two shady investment scams.

Throughout 2022, Colombia has been a hub for MLM-related securities fraud. Local authorities seem to have given up trying to control Ponzi scams, most of which are run by other nations.

Glen Williams and Jeremie Sowerby were both residents of Canada in the instance of My BlockX.

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