Crypto 7 Continents, a cryptocurrency trading platform that surfaced in June 2017, shows striking similarities to the defunct Global Trading Club Ponzi scheme. The company's website, crypto7continents.com, was registered on June 13th, 2017, and its "about us" section appears to be directly lifted from Global Trading Club's marketing materials.
Analysis of the Crypto 7 Continents website reveals it is virtually a clone of Global Trading Club's online presence. Global Trading Club operated as a Ponzi scheme starting in late 2016. Affiliates of that scheme were promised daily returns on investments ranging from $250 to $31,000, with payouts scheduled for up to 475 days. Reports of Global Trading Club's collapse began to emerge in early May 2017.
Crypto 7 Continents lacks any identifiable retail products or services. Its business model centers solely on recruiting new affiliates who then invest funds. The investment tiers for Crypto 7 Continents range from $500 to $10,000. Investors are promised a 25% monthly return on investment, with returns paid out over a 12-month period.
The affiliate investment packages are structured as follows: Basic at $500, Basic 2 at $1000, Medium at $3000, Medium 2 at $5000, Premium 1 at $8000, and Premium 2 at $10,000.
Commissions are paid out for recruitment. Affiliates who bring in new investors receive a commission based on their own investment level. Basic and Basic 2 affiliates earn a 15% recruitment commission. Medium and Medium 2 affiliates receive 20%. Premium and Premium 2 affiliates are eligible for a 30% recruitment commission.
Residual commissions are distributed through a binary compensation plan. In this structure, an affiliate sits at the top of a two-sided team, left and right. New recruits fill positions on these teams. The company calculates daily investments on both the left and right sides. Affiliates receive 10% of the matched investment funds. Any excess investment funds on the stronger side are carried over.
As with Global Trading Club, Crypto 7 Continents purports to generate its promised 300% annual return through cryptocurrency trading, claiming to possess proprietary trading software. The scheme requires a minimum investment of $500 to join.