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Arkonix Mining is a very secretive operation with no transparency when it comes to discussing who the owner is and what their qualifications are. The domain of the site was even anonymously registered in September 2017. So it is exactly one year old. Arkonix Mining also accepts USD and EUR currencies, meaning that whoever runs the operation is most likely based in the US or in Europe. This is just a wild assumption given that the owner is anonymous and does not seem to want to reveal their identity or location. However, we are able to find some lead at the footer of the site where they provide a Ticino, Switzerland address. So this information is corresponding to our assumption.
As always, any investment opportunity, no matter how genuine it looks is not to be trusted if it is not upfront with the details of the owner. Most of the time, scams follow this pattern and because of this, we are very careful not to give them 100% trust if we have not dag further into their operations yet.
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In as much as this site claims to mine Crypto currencies, it still has the iconic elements of a ponzi scheme. It has no real product or service except that of recruiting new members to join. This is the only way the service can generate some returns which can be used to pay out ROIs. We have viewed the hashpower plans and saw that the more an affiliate invests i this program, the more they are supposed to make. The minimum that can be invested is $50 while the maximum that the site will accept is $4800 which will give BTC4800.
Residual commissions are paid based on a uni-level compensation structure, something that only ponzi schemes know how to do best. In this arrangement, an affiliate is placed at the top of the scheme with referrals joining directly under them. Affiliates of this company are also entitled to earning bonuses ranging from $50 to $50,000. Arkonix Mining does not tell us what mining contracts they are offering or what partnership shares are. Instead, the ponzi scheme element is coming out much stronger than the mining side of things.
The company is only offering investment packages and Arkonix Mining affiliate membership is tied to any of the investment plans. As we have said before, investment plans start at $50 all the way to $4800. You are supposed to earn depending on what you have contributed into the scheme. While this makes sense, there are a lot of things that Arkonix Mining is not telling us. We would like answers to these questions. Unfortunately, Arkonix Mining is not willing to answer us or address the concerns. So that means this could be a ponzi scam. To know why, just keep reading.
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Arkonix Mining is claiming that it is a Swiss based Crypto currency cloud mining provider who is also selling hash power. Apart from the physical address which they have provided on the site, there is no other evidence to support the claim that Arkonix Mining is based out of Switzerland.
Secondly, we have investigated the business model very carefully and found that this site is combining a potential ponzi fraud with a pyramid scheme business model. As an MLM company, Arkonix Mining is supposed to provide us with evidence of mining activities taking place on their website and also evidence to suggest that all revenue is generated from Crypto currency cloud mining. They need to demonstrate it without giving any excuse as to why they are not doing so.
But you see, the company has not provided us with this kind of proof. No wonder it is not surprising that they are also offering nothing in the way of the details of the person in charge of the website itself. We don’t know who is running the site.
They should know that if these details are missing on their site, then there is a good chance that investors will be inclined to believe that the company is just recycling newly invested funds to pay existing members who joined earlier.
Generally speaking, an MLM which is claiming to mine Crypto currencies usually provides some photo or video evidence to suggest that they own mining rigs and all income is generated from Crypto currency cloud mining. In addition to this, Arkonix Mining is providing us with some dubious statistics on their site which appear to be suspicious because those numbers cannot be verified. If they cannot be verified, then it only means the anonymous owner of this site just wrote those numbers to fool us.
And even if Arkonix Mining was truly mining Crypto currencies and they proved that revenue was being generated from mining, they have to prove that all revenue, not just part of their income, is generated from mining. That is how legit Crypto currency cloud mining operations run this business.
Also, when you look at the compensation structure which this site has implemented, you find that it is using pyramid fraud to pay existing ROIs. If we combine these tell tale signs, we are 100% convinced that this is a scam looking to steal funds from the public. There is not a lot that is going on for this company.
Eventually, the business will collapse. The pyramid side of things will collapse. Then the ”mining site of their operation” will also collapse shortly afterwards. There is no exception since Arkonix Mining has provided evidence to suggest that this will be their ultimate end. So if you want genuine mining of Crypto currencies, don’t approach companies with MLM side of operations. Go with legit sites which engage in real mining of coins.
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