It is the determination of the Digital Currency Association that
USI-TECH shows all the signs of being a classic Ponzi scheme.
By the time it is done, it may be the world's largest in history.
USI-TECH leaders and lawyers appear to be lying and
participating in the deception. They are trying to say there isn’t a
security involved, when there is certainly:
1. OFFER is for a placement of money
2. OFFER says the money is being managed by the company
3. OFFER claims money is being used in such a way to generate returns
4. OFFER owes any returns to their client.
They imply they own a Bitcoin mining facility in Iceland which they just rent.
The main "product" is getting other people on board.
Their offer: https://bitcoinlabs.usitech-int.com
In my opinion, USI-Tech is another recruiting scam that uses ridiculous claims of returns for their products to get people to buy them and join the scam. You have to pay them to participate in the 12 level compensation plan. The founders of this scam have a long history with other money making scams. FOREX and Bitcoin have massive risks in investing in them. USI-Tech does not have the answer to lowering your risk and making you consistent returns. The Bitcoin Package they offer is a Ponzi scheme. The software they offer can’t offer the regular returns they claim it does. The software is used as the “product” in a product-based pyramid scheme. They expose you to shady FOREX brokers as well. USI-Tech claims to have its headquarters in Dubai. They are not registered as a business in Dubai. They are registered as a company in Ras Al Khaimah. Ras Al Khaimah is a common place for offshore companies to register as a company in the UAE. There is no way to know where USI-Tech is actually located at with this type of offshore company registration. USI-Tech does offer a free affiliate program you can participate in and make money from selling people their products. This does not change the scam that is being run with the actual products this company offers. I would not invest my money in USI-Tech.
False implication of endorsement by DCA senior member Adam Meister - who only advocates saving Bitcoin and not selling it, especially for such a scam. .
You want to avoid any cryptocurrencies that are offering regular returns and recruiting bonuses. These are almost always a sign you are dealing with a Ponzi scheme instead of a legitimate cryptocurrency. The money comes from new people joining.
Good mark on TrutsPilot but that can be faked by hiring evaluators.
They found a law firm willing to endorse them.
Mike Kiefer - founder reports on latest developments
They are not under SEC investigation