EXXA tokens are made out of thin air and, in addition to keeping track of investments in the company, serve no purpose. The EXXA tokens are entirely null and void, outside of any internal value assigned by Exxa managers. Withdrawal requests are returned as long as the new investment can pay them. When the deficit between the two amounts, the collapse began, eventually leading to Exxa unplugged.
What is Exxa?
Exxa is a multi-level marketing company (MLM) based in Singapore, operating in the niche market of Blockchain and cryptocurrency. This project was established to help people become financially independent. So, when you hold your cryptocurrency in the Exxa wallet, you will receive similar profits.
Source: Exxa’s site
Executive team
SQ2 Fintech owns 25% of the company. In particular, Anthony Lau is CEO of SQ2 Fintech. He is also the CEO of the World Blockchain Forum. Synonymous, Lau and WBF owner Sheng Zhao are two people running this project together.
The World Blockchain Forum has long been viewed as a Ponzi planning nursery over the past year (or even longer). At this year’s World Blockchain Forum, both Lau and Zhao were not publicly visible to this project. Instead, Daniel Pang continued to appear as the CEO.
Project’s management team:
- Danny Pang – Co-Founder
- Gergory Weng – Co-Founder
- Francis Aw – Co-Founder
Pang was the one who appeared after this MLM project late last year, as the CEO of Axxa Global. Accordingly, this is a combination of SQ2 Fintech and Axxa Global.
Axxa Global’s website currently has an Alexa ranking of over 5 million, showing that outside Exxa, it has collapsed long ago.
Of the three Ponzi application wallets that the World Blockchain Forum has launched, Cloud Token and S Block are still active. Meanwhile, the Plus Token collapsed a few months ago. The Chinese government estimates the collapse of the Plus Token resulted in $2.9 billion in losses.
Products
Exxa has no products or services available. Affiliates may only market affiliate members.
Exxa’s compensation plan
Exxa affiliates invest in previously created EXXA tokens, with the promise of profit supposedly derived through a trading bot.
As above, once affiliates have invested in EXXA tokens and parked them with Exxa, the advertised profits range from 3% to 9% a month.
Profits are paid with EXXA tokens. Exxa affiliates withdraw money from their tokens via an internal exchange. Therefore eventually withdraw more than they invested initially.
However, this project does not disclose the current internal EXXA token value.
Residual Commissions
Exxa pays the remaining commission through an unmet compensation structure
An uncompensated compensation structure places a branch at the top of an unprovisioned group, with each individually recruited branch placed directly below them (level 1):
- If any tier 1 affiliates recruit new branches, they will be placed at level 2 of the unlicensed group of the original branch.
- If any tier 2 branches recruited new branches, they would be set to level 3 and so on and so on, reducing the number of theoretically infinite levels.
Exxa limits the remaining commission to a twenty-one level.
Affiliates are paid the remaining commission on the profits paid to affiliates placed in their un provisioned group.
How many group levels have not been granted yet, but one Exxa affiliate earns the remaining commission is determined by the number of affiliate investors they have personally recruited.
- You recruit an investment branch and earn 100% at level 1 (personally recruited branches).
- You recruit two investment affiliates and make 100% at level 1 and 50% at level 2.
- You recruit three investment affiliates and make 100% at level 1, 50% at level 2, and 5% at level three to fifteen.
- You recruit sixteen investment affiliates and make 100% at level 1, 50% at level 2, and 5% at level three to twenty-one.
The token EXXA pays the remaining commission.
Community rewards
Exxa appears to reward affiliates that are ranked with a percentage of their total unmatched investment:
Source: Exxa
As above, ranking requirements start when generating $200,000 in EXXA token investment volume. Higher ranks are obtained by recruiting others to do the same.
A higher rank corresponds to a higher percentage of downstream investment.
It is unclear whether the estimated earnings based on Exxa’s rating are in USD or EXXA tokens.
How to join Exxa?
Exxa affiliate membership is free. However, fully participating in the attached income opportunity requires a minimum investment of $10 in EXXA tokens.
Is Exxa a scam?
- Vague investment information
Lacking information on how the company manages the investor’s money. A real and verified trader does not back them, only rely on DEVO +, which using market indicators and complex trading algorithmic.
DEVO + is programmed to trade conservatively and provides a fuss-free way to receive EXXA rewards daily. Naturally, there is also no proof and information at all on who is running behind the scenes.
- Limited exchange platform
Currently, there’s a limited platform for us to sell or buy EXXA tokens. From my research, EXXA tokens are not available for trade on any major exchanges yet.
This new company founded on August 8, 2018, in Singapore and officially launched recently. And, I don’t find any internet platforms or shops is accepting EXXA tokens as a method of payment.
- Teach you nothing
To recruit more people and make money, you need to learn how to reach more people without spending a lot of money and annoy the people around you. For example, I have created this blog that gets hundreds of visitors each day. I can promote something here, and if people buy it, I will earn an affiliate commission.
Instead of forcing people to join a program or buy something, I rank my blog high on Google and let them come to me. This is done through search engine optimization and keyword research.
Sadly, they don’t teach anything like that in Planet Impact Academy. That’s why it is tough to make money in an MLM business without learning some internet marketing skills. If you are interested in how I learn those skills and make money online, please feel free to check here where I share my online venture in detail.
It is too early now to identify if is Exxa a scam.
I would keep this program in my list and monitor it closely since this program is relatively new. Nevertheless, Exxa is still new and to prove itself as a reliable company.
But in my opinion, I still do not recommend EXXA because it is very similar to the other crypto token wallet Ponzi scheme. Although the name of the bot changes, this is the same script used in every World Blockchain Forum Ponzi scheme.
These schemes had scammed millions of dollars when they did their exit scam. Exxa wallet is available in IOS and Google Playstore.
Although it seems to give the users full control over their funds, there are no such features as the wallet. I believed it is just smoke and mirrors!
Another red flag to consider is the possibility for a company to promise a fixed percentage of ROI?
Lastly, my review has provided all the necessary information needed. All that is left for you to do is look at the findings and make an educated decision.
Conclusion
The Blockchain Platform’s fourth application wallet Ponzi program is the same. Exxa represents it, making a profit through their DEVO trading bot. DEVO + is our AI trading bot that trades cryptocurrencies on your behalf, unaffected by bias and emotion. Using market indices and complex trading algorithms, DEVO + is programmed to trade conservatively and provide a hassle-free way to receive daily EXXA rewards.
Although the bot’s name changes, this is the same scenario used in every Ponzi scheme of the World Blockchain Forum. From a legal perspective, it is providing a passive investment opportunity. This constitutes a security offer. The Exxa Forum and World Blockchain represent them based in Singapore.
The Monetary Authority of Singapore regulates securities in Singapore. A search on the MAS website found that neither Exxa or the World Blockchain Forum was registered. This means that Exxa’s MLM opportunity is operating illegally in Singapore. Indeed, it does not register anywhere in the world to provide securities – meaning it works illegally in any country they attract investment.
At the time of publishing, Alexa pegged Canada (23%), India (11%), and Russia (9%) as the top three sources of traffic to Exxa’s website. The only reason an MLM company would choose to operate illegally is if they do not follow what they say.
This brings us to the Ponzi nature of Exxa’s business model.
EXXA tokens are made out of thin air and, in addition to keeping track of investments in the company, serve no purpose. The EXXA tokens are entirely null and void, outside of any internal value assigned by Exxa managers. Withdrawal requests are returned as long as the new investment can pay them. When the deficit between the two amounts, the collapse began, eventually leading to Exxa unplugged.
This is precisely what happened with the Plus token and will eventually happen in other Ponzi schemes of the Blockchain Forum.
As with all Ponzi programs, when it inevitably collapses, most investors will lose money.
Besides, WBF continues to launch new Ponzi programs every few months will also sound the alarm bell.
Read more:
- What Is PayAsian? Should We Invest In PAYA Tokens?
- The Giveaway BTC, ETH, LTC, And XMR Scams Reappear In The Cryptocurrency Market