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Banqiro is a Crypto Token MLM platform from one of MLM’s Ponzi scheme families. Here’s our clear banqiro.io review revealing the risks behind Alex Reinhardt’s project.
After the brothers behind this project registered their trademark in the EU, Banqiro has been marketing its token project. Banqiro is a Crypto MLM project owned by Alex Reinhardt, a known serial MLM scammer.
The platform is under Banqiro GMBH, a German shell company that is heavily influenced by Jürgen Dieter Marschke, a crypto enthusiast. Alex has a close sister who works to register such shell companies all over Europe, Maria Reinhardt.
There are several other social media marketers who are pushing this brand all over Europe. And as it turns out, Alex is now turning the project to North America where he hopes to target close to a million investors.
We have been closely monitoring all his projects, and none of them ended in success. That’s why we are extremely cautious of the fact that Alex is now claiming to have the best crypto token project under BNB.
Details of exactly where Banqiro is operating remain sketchy as the platform has not been transparent. Lack of accountability is another issue with the project failing to give accurate information on the available token numbers.
Each time investors buy into the project, the token numbers increase instead of decreasing.
Here’s our detailed Banqiro Review.
As we publish this post, the Banqiro project is now in the pre-sale token phase. Investors are encouraged to buy the tokens with 175 Million tokens available. Where is the token address for investors to verify this number?
In any token project, transparency is key and investors need to have access to certain information. This includes information on the number of tokens available all thanks to access to the Blockchain network.
That’s not the case here as we have a platform failing to offer much in terms of authenticity. What we have instead is a platform devoid of accuracy and transparency, looking to take advantage of naïve investors.
There are several projects underway to make it appear like Banqiro is a well-rounded crypto project. In fact, that’s far from the case as Alex and his team are only looking for your funds. There are no tokens to earn as the tokens are not even real.
Investors are fooled by the incoming projects Alex claims are underway. These projects are the ecosystem the Banqiro token will be used under. And this is why investors are signing up as it all looks flashy and glamorous.
Some of the projects Banqiro claims to be underway include an Exchange and Wallet platform. Others include integrating an invoice software and a credit card branded with Banqiro information.
The ecosystem sounds just about right for most investors, but there are some serious flaws. Alex simply claims the projects are underway with no proof the projects are actually real. And that’s why we have to expose the platform’s entire ruse.
Let’s take a closer look at how Alex managed to reach this new height of deception.
With multiple shell companies, Banqiro manages to open branches in different EU regions. Note that Banqiro GMBH is the parent shell company operated by the Reinhardt’s. ALMA GMBH is another shell company that solely deals with crypto projects.
We first heard of Alex and his sister in 2015 after the collapse of SwissCoin, a project that capitulated in the end. PlatinCoin was the next project he operated seeing that there was little blowback from authorities.
In 2019, PlatinCoin was under investigation by BaFIN which led to Alex using shell companies to re-invent it to PlatinWorld. This is what led to the famous crypto MLM scam PlatinCoin Ultima, PLCU.
PLCU collapsed late last year (2022) with the collapse of the coin pumping to $100,000 before collapsing. Ultima is the newest Ponzi scheme from Alex and his team which works closely as Banqiro, only in a different realm.
Banqiro is primarily targeting German investors which is marketed as a pre-sale of BNB token. There’s a seed-sale that took place a few weeks ago that managed to net over $55m, with several UK marketers on board.
These include Shahab Ganji and Roshan Indran who have access to Asian markets and influence investors in that region. Ganji has in the past promoted failed Crypto Token Ponzi schemes such as Omnia Tech and USI-Tech.
Alex and Ganji are German nationals who fled to Dubai after BaFIN issued a warrant of arrest. We strongly believe the two are working to defraud investors in the Middle East as well. Those who’ve signed up are from Canada, Germany, Spain, Turkey, Vietnam, and Zambia.
How does Banqiro work and what’s the end game?
Banqiro is heavily involved in the sale of tokens that are not even created from the Blockchain network. 175Million is a number given to showcase the number of available tokens up for sale. It’s a sale tactics to ensure investors buy-in as much as possible.
With the pre-sale, investors get a quote from the platform on the number of tokens they own. Please note there’s no account to highlight the available tokens you’ve got. And this has without a doubt influenced the huge scam capability.
Without investors knowing the actual tokens available, Alex and his team can sell millions of air tokens. Since there’s no Blockchain network to verify the sales, we have a team duping investors to sign up and buy tokens that hold no value.
Alex has also come up with an affiliate program that pushes investors to earn bonuses and commissions. All investors have to do is refer close family and friends into the tray. Alex does little marketing in this aspect.
Instead of earning tokens as the price of an affiliate, Alex promises a huge share in the overall Banqiro ecosystem. Affiliates occasionally get email alerts of their possible staking ownership of the ecosystem.
Speaking of staking, the project also claims to earn income through staking investments. There’s a 10% ROI guarantee for investors who take the staking route. And this has pushed more investors to sign up hoping to get a lion’s share of the ecosystem.
Despite the platform’s marketing campaigns, there are still no satisfied clients. Banqiro is failing in its plight to convince investors of the overall potential. Social media has been abuzz with claims Alex is about to shut the entire project.
As a rule of thumb, we encourage investors to do due diligence before investing in any staking or token project. Accountability and transparency are some of the things you must have in any project.
You can also reach out and request a review of any project from us.
Judging from past projects from Alex and his team, it’s likely everyone’s going to lose from the project. Those who are making profit are Alex, family members, and close marketers such as Ganji.
The platform is only using the pre-sale route to fool investors to deposit funds and but non-existing tokens.
From what we’ve seen in the past with Alex Reinhardt’s projects, Banqiro is a risky investment project, please stay away.
The best way to earn with staking opportunities is by using verified projects with solid performance records.
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