Neuryx Club: An Automated Crypto Trading Securities Fraudulent Project
A crypto project called Neuryx has been launched to the market with a fraudulent scheme. According to a recent report uploaded by Behind MLM, the company has several flaws that raise concerns regarding its proposals.
There are several red flags that the report shows. The first thing that they mention is the fact that the company provides no information about who owns the business. Clearly, this is one of the most important things that investors should know before placing funds in a project or company. At the same time, there are no retailable products or services available.
Affiliates at Neuryx Club join with the promise of receiving passive returns from their investment. Each investor will have a determined amount of funds that can be received depending on the fees they pay.
These affiliate fees range between $200 a year up to $5000 a year with $300 a month per affiliate. Investors will not only earn passive trading returns, but they will also receive a payment every time a new individual is recruited.
Users expect to earn a passive income with an automated cryptocurrency trading program. If the affiliated individual pays its monthly fees the company says that it will keep trading on his behalf. However, the company is offering a security. According to data provided by Alexa, 76% of the traffic to the Neuryx Club website is originated in the United States. The remaining 24% comes from Indonesia.
As reported by Behind MLM, Neuryx did not register its securities offering with the U.S. Securities and Exchange Commission (SEC). At the same time, they do not inform whether they have registered with Indonesia’s Financial Services Authority (FSA).
If the securities offering is not registered with the local authorities that means that they are selling illegal securities. If they would like to be registered, the company would have to provide evidence of AI trading. In addition to it, they would have to provide information about who developed the bot and which were its past results.
The US SEC has been trying to shut down illegal securities offering. Furthermore, it has already taken several measures against 90 crypto projects in the market.
Those trading bot scams tend to run losses for investors or just make enough funds to cover monthly affiliate fees. However, most of the money is made using recruitment strategies rather than trading. That means that the funds that users will have come from a pyramid scheme released by an unknown project.
If the cryptocurrency market wants to keep growing in the future, it will have to get rid of these scammers.
The views and opinions expressed in the article Legit Automated Crypto Trading Securities Project or Fraudulent Scam? do not reflect that of 48coins.com nor of its originally published source. Article does not constitute financial advice. Proceed with caution and always do your own research.