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Author Topic: Polish-registered recyclix.com is a Ponzi scheme and provably so.  (Read 84911 times)
cryptodevil
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July 20, 2015, 07:32:10 AM
 #1

Whilst looking very professional with rich graphics and layout, this Polish-registered bitcoin-accepting operation, Recyclix, is not just highly likely to be a Ponzi scheme, the small print on their website even admits that funds paid in by users is used to pay other users, thereby demonstrating that it actually is structured as a Ponzi scheme.

Let's take a look:


Garza 'Hashlet' style faux-multilevel ROI 'investment' options giving the user the impression they can tweak the configuration of their 'investment' for, you guessed it, MOAR PROFETS!!!1!!!!

Scrypt.cc style "no need to withdraw your money when you can keep re-investing it" 'auto-reinvesting' "compound profit" feature for, of course, MOAR PROFETS!!1!!!1!1!

But wait, there is MOAR! Not only do you have the chance to "auto-reinvest", you can also select the number of 'cycles' you want to commit to for, surely not? YES! MOAR PROFETS!!111!!1!!elebenty!1!

As well as the ubiquitous 'Bonus Referral' scheme whereby you can receive payment for every other sucker, I mean 'investor', you can get to register and 'invest' with your ref-link.


So, in a nutshell, it has the usual range of pretend user-defined 'options' to give them the sense that they have control, plus the all-important 'profit-compounding' selector which keeps your money in the scammers pockets and, as a bonus for themselves, they even have an additional layer of security, the scammers I mean, not the users, in terms of knowing how long they've likely got your money for through selecting a commitment to a number of goes on the gravy-train 'cycles' which, clearly, is going to be incredible useful for the Ponzi calculator to be able to keep the scammers up to speed on making sure that incoming deposits are always greater than any outgoing withdrawals.




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July 20, 2015, 07:32:25 AM
 #2

Now, on to the part where the scammers' own small-print clearly states them to be a Ponzi scheme:

Recyclix Sp.z o.o may merge these funds with the funds of other Users and its proprietary funds. These merged funds may be used for payments to other Users or for the sake of our mutual corporate aims or otherwise. However, Recyclix Sp.z o.o. shall in any case pay or return you the funds according to this Payment Policy and the Terms of Use.

This tells you that they are stating they will use your money to pay other users - Ponzi scheme.

DEPOSITS

The User shall deposit the funds using mechanisms offered by the Website.

The User may deposit the funds to the Account via bank wire transfer, credit cards, and Bitcoin.

The minimum deposit amount (the first deposit and/or balance replenishment of the Account) is 20 EUR.

Oooh, but they accept regular payment methods like bank wire transfer and credit card, as well as bitcoin, surely this would indicate they are legitimate if they are registered with credit card companies?

Well, no. Here's why their credit card facility does not inspire confidence in their supposed legitimacy:

The maximum deposit amount via credit cards is 250 EUR.

This is because they want to keep the risk of both charge-backs and fraudulent usage of credit cards to an absolute minimum in order to avoid drawing any unwanted attention to their operation. They have credit card payment solely to lend an air of legitimacy to their 'business'.

. . .and finally

The maximum deposit amount via bank wire transfer or Butcoin is not limited.

Of course, non-reversible (or in the case of bank transfer, very hard to reverse given the small-print) payment methods have no limit.

Another red flag for spell-check failure on the word 'Bitcoin', too. But, then, I sometimes think they do it on purpose as an in-joke among their likely-numerous Ponzi 'investment' schemes, such as 'cloud mining'.



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July 20, 2015, 07:32:35 AM
 #3

Here's a link to a more recent review by somebody else:

http://affiliateunguru.com/recyclix-review-genuine-opportunity-or-well-planned-scam

Quote
Recyclix Review: Genuine Opportunity or Well Planned Scam?

May 12, 2016 by Tim 8 Comments
Quick Overview

Company Name: Recyclix Sp.z o.o

Summary: A revenue sharing company supposedly paying ROI’s based on an innovative recycling operation turning waste into ‘granules’. When I first saw this company I wondered if this could finally be a legitimate and sustainable revenue sharing program. Unfortunately, the facts paint a very different picture as I show in this review.

Costs: Free – €98,450 +

Score: 1/10
About The Company

There is zero information on the company website about the CEO or anyone running this operation, and their domain registration is set to private.

They claim to have been:

    “collaborating for a long time with leading international companies engaged in the production and recycling of plastics.”

They provide no information on any of these companies or what ‘collaboration’ took place. According to official registration documents this company was registered in 2014:
Official Company registration details
Source: http://krs-pobierz.pl/recyclix-i5527226

I did some digging and found a blog post of theirs about one of their events, along with a Facebook post that clearly shows the Founder and CEO as being Dmitri Paladi:

CEO and management names

Paladi has no Facebook, LinkedIn, Google + or any other profile I can find and there is zero information about him anywhere online.

According to the company website they are “headquartered” in Warsaw at the following address:

Al.Solidarnosci 115, office 2 , zip: 00140, Warsaw, Poland

Fun Fact: This is a virtual office address that made available by VLS-System for as little as US$11.59 +VAT per month at the time of writing this. These can be used as the address used in the registration of a limited liability company such as theirs, set up over the internet and require very little ID and documentation.

Source:

    www.wikiprocedure.com/index.php/Poland_-_Starting_a_Business was purchased through
    http://www.biurowirtualnewarszawa.pl/english/comparison-of-services.html

They have 3 other office locations:

Representative Office- Competence Center Koblenz, Ferdinand-⁠Nebel-⁠Str. 7, 56070 Koblenz

Brazil Office- St Nossa Senhora do Carmo 75, Castro, Parana, Brazil

Morocco Office- P21 Avenue Mohammed V, Marrakech, Morocco

I couldn’t find much to verify these, but the legitimacy of those offices is not of much consequence since office space can be rented or purchased by anyone. The factories are a lot harder to fake, they claim to have 2 of these operating in Poland and Latvia however, do NOT provide an address to prove this.

Company claims on factory locations

After doing some digging I was only able to find their alleged Poland address which is a hotel:Poland Factory Location

According to a statement made by the company in September of 2015, they do not have time to answer questions about their factory locations from potential investors:

Company statement

No legitimate company would need to surround their operation with such secrecy and deception. What possible reason is there for all of this if they really were legit?
What Is Recyclix & How Does It Work?

The way the company goes about explaining how this system works is pretty frustrating to say the least. After going through things carefully, here’s what I learned…
Getting Started

The company is currently giving members a €20 sign-up bonus to be used for investing into the system. This will generate you €2.21 profit after 3 months according to the income calculator. These 3 cycles must be complete in order for you to withdraw.

When the bonus offer ends, new members will need to deposit a minimum of €20 to get started.
Earning Through The Revenue Share Platform

The easiest way to understand this is to think of it as a 3 stage ‘cycle’ that takes exactly 35 days to complete:

Each stage/ product is valued at a set amount per kg:

    Waste is valued at €0.20
    Re-Grind is valued at €0.40 (takes 28 days to complete this stage)
    Granules are valued at €0.60 (takes 35 days total to complete this stage)

Three stage process

When you buy waste and see it through to granule stage after 35 days, this is known as completing a full cycle.

The only way to make money with this is to continue re-investing, or ‘re-cycling’ as they like to say. You cannot profitably hit the ‘sell’ button on the ‘granules’ stage until after 3 full cycles (105 days) if you want to become profitable, regardless of the amount of waste purchased.
Example of Purchasing €100 of Waste

I purchase €100 of waste on June 1st 2016 which gives me 500kg of waste. Admittedly, I’ve always wanted to buy half a ton of crap so I’m pretty chuffed at this stage.

On June 29th this has now become ‘re-grind’ and is worth €200 since re-grind is worth €0.40 per kg and you have 500kg of it. If I sell it now I’ll get 25% of this €200, or exactly €50. Clearly then, I’ll lose money if I sell now since I started out with €100.

So I must hit the ‘re-cycle’ button shown above and wait another 2 weeks for it to turn into granules, which brings us to the 5th of July 2016. I now have granules and have turned my initial €100 of crap into €300 of pure granule goodness! I don’t get to withdraw this yet though, at least not if I want to make any money.

If I cash out at this point I’ll only make 25% of €300, which comes to €75.

If I hit ‘restart’ and do not sell my granules I’ll have made a 14% profit on a €100 investment. I’ll be able to start buying waste again with this money with a brand new cycle with €114.

In other words, you only really make a profit in the first 105 days if you re-invest everything.

Once I complete 3 full cycles, 105 days after June 1st 2016 I’ve made €3 profit. I am not kidding lol.

€100 example earnings chart

On a brighter note, if you ‘compound’ your earnings during this 105 day period by purchasing more waste with any profits made, you will make a little more. You’ll make €11.16 profit to be precise.

Using this exact same process starting out with €1000, you’ll end up with €30 in total profit after 105 days. Clearly, the only way to make money is to invest higher amounts over longer periods of time.

I love the companies example though:

Marketing material earnings example

Shining example of deliberately misleading people with a half truth.

Firstly, you will not make any withdrawal profits at all in ‘just several weeks’. The only way you’ll make the the €142 total revenue after 3 cycles is to follow the strategy I just explained and re-invest into the next cycle. So you can’t even cash out €42 in profit after several months- let alone weeks!

But there is another way to maximise your profits…
The Equipment Shares

Once you’ve purchased a full 5000kg (€1000) you are then eligible to purchase ‘equipment stock’ to increase your profit share and waste quota to increasing amounts as follows…

Forklift: €1 per share increases the amount of waste you can buy (recycling quota) to another 25kg per share. This is capped at 200 shares, meaning an extra 5000kg of waste purchasing becomes available for €200.

Sorting: €10 per share increases your quota by 60kg per share, capped at 250 shares. So for €2500 you can now purchase an additional 15000kg of waste. Buying 250 shares will increase your profit from 14% to 16.5% when completing cycles.

Shredder: €25 per share increases your quota by 100kg per share, capped at 250 shares total. For €6,250 you can purchase an additional 25,000kg of waste and increase you profit share to 21.5% when completing cycles.

Washing: €50 per share increases your quota by 140kg per share, capped at 250 shares. For €12,500 you can purchase an additional 35,000kg of waste and increase your profit share to 31.5% when completing cycles.

Granulator: €100 per share increases you quota by 100kg and is capped at 500 shares. For €50,000 you can now purchase another 50,000kg of waste and increase your profit share to 51.5%, only the company caps this share to 50% total.
Total Costs & Rewards

The real way to look at this is to forget all about the terminology and the idea of some recycling factory. In my opinion, that is just a marketing strategy.

What really happens with this is you start out with your first lot of 5000kg of purchasable waste, then buy 200 ‘forklift shares’ to unlock the next lot of 5000kg waste purchasing ability. You continue doing this all the way through to the ‘granulator’ status to earn the maximum amount of money possible.

The end result is the purchasing of 135,000kg of waste for a total of €27,000 and €71,450 worth of purchasing to unlock quotas and increased profit share percentages.

Once you get right to the top status and purchase all the equipment shares you can make €13,500 profit on 135,000kg of waste every 5 week cycle period. You can see this by using the blue ‘selling plan’ option on the calculator.

Note: Once your revenue share hits 33% or more, it is now profitable for you to start selling the granules after a full 5 week cycle instead of re-investing your money. In other words, after almost €10k in equipment share purchasing, it starts becoming worth your while to hit the ‘sell’ button instead of the ‘restart’ button.
Referral Commissions

This operates on a  level unilevel downline system where you can have unlimited people on each level, 4 levels deep. You recruit people, who recruit people and so on.

Each level pays you a different commission based on their deposits:

Level 1: 10%

Level 2: 3%

Level 3: 2%

Level 4: 1%

You get a bunch of banners and a way to track clicks on your affiliate links. Nothing special there.
What I Liked

    I like the idea of a legitimate company helping the environment and creating sustainable revenue share program. That really does not appear to be the case here though

    The website is pretty cool

    I’ve got to hand it to these guys, this is a grade A performance. I honestly don’t know whether to laugh or cry

What I Didn’t Like

    In my opinion, this is a HYIP/ Ponzi scheme and I will explain why I say this below

    Confusing explanation of the system and how it operates will likely leave a lot of people skipping over the finer details. This is exactly what this kind of scheme plays on

    Huge amount of secrecy/ deception surrounding the CEO, management and factory locations

    Misleading marketing material suggesting people will make more than they really will in a given time frame

    These kinds of schemes will inevitably collapse in the coming months/ years as recruiting slows

Why This Is a Deceptive Scheme

The company assures people that they are a real company and admittedly put out a fairly believable front. In fact I have not seen many companies go to the kind of lengths they do to establish credibility.

Allow me to present the red flags that expose this scheme for what it is:
Zero Proof of Their Factories

Neither their marketing material, their biased affiliates, nor their baseless YouTube videos prove the companies legitimacy.

In fact the only proof that I have found ANYWHERE shows the opposite, this is a giant load of BS. Elaborate, yes, but when con artists stand to make millions of dollars out of a scheme like this it is well worth organising a few tours with a couple of local factories and planning things out to a level that will fool the majority for the longest period of time possible.

But Tim, they’ve been part of some trade shows and have offices and all that stuff!

None of this is proof and is simply an opportunity to legitimise an otherwise unbelievable scam. If they didn’t go to these lengths, no one would believe them. Think about it carefully. Buying a stand at a trade show means zero, renting an office means zero, walking people around a random factory means zero.

Even if by some miracle they did have a recycling operation, it would clearly be a front for a ponzi to support such high ROI’s.
Unusually High Returns

They provide unusually high passive ROI’s as you progress through the system to the tune of 150% ROI in a 5 week period. That’s not just high, it is downright laughable. For this to be even remotely possible, they’d have to be operating an insanely profitable business.

Let’s take a look at the real state of the recycling industry. According to an article written by the Wall Street Journal the CEO of Waste Management INC had this to say:

    “Recycling is in a crisis, and isn’t profitable for us, and we have to react to that by shutting down plants.”

The article goes on to report:

    Market values of used plastics have fallen sharply, a decline some in the industry have attributed to lower crude oil prices, which have pushed down the cost of producing new plastic and left manufacturers less keen to work with recycled material.

Another article published by LetsRecycle.com points out:

    We are all aware that the UK’s recycling industry is going through a challenging time.

Needless to say, paying investors this kind of return is not only contradictory to the state of the industry, but outrageously unsustainable.
Payments

The hallmark of a ponzi scheme is paying existing members with new member investment. In this case they actually admit this in the fine print on their website:

Payment Policy

This is stating that they will use the ‘pool’ of member payments to pay out existing affiliates, the same pool that is added to regularly by new member investment.

Additionally, deposits are limited to €250 by credit card and not accepted at all via PayPal which throws up yet another red flag.
Final Thoughts

In my opinion, this is a well planned HYIP/ ponzi scheme with a fairly clever marketing strategy behind it. They give people the impression of a legitimate company and use a vocabulary and internal system to attempt to support their story.

One of the biggest misconceptions is that it “must be legit since people are getting paid”… that is not a sign of legitimacy at all. People have, and always will make money in these kinds of schemes but a LOT more lose out when they eventually collapse.

Make no mistake, all ponzi’s eventually collapse. Why? Because this is not a sustainable business model. Once recruiting slows, the revenue being used to pay out ROI’s comes to a grinding halt and the company pulls the pin. Hence the reason for the virtual headquarters and the lack of information about the people behind this.

tl;dr The whole 'Recyclix' company front is bullshit, ponzi.

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July 20, 2015, 07:32:45 AM
 #4

Time for an update!

As many of you know the 'open day' invitation-only event for this scam is being held for the next three days, whereupon the name of the supposed McDonald's contractor they have signed a sub-contract with, will be revealed.

I have absolutely no doubt this will turn out to be equally as much stinky bullshit as the original claim itself. Still, we will have to wait and see how the criminals behind this scam plan to spin this lie.

In the meantime, I was reminded today of a 'payment proof' post made by a recyclix shill last year, which actually showed a hotmail address the payment 'from Recyclix' was being made from. A few short internet searches later and I've made some interesting discoveries!

http://www.moneymakergroup.com/Recyclix-Recyclixcom-t493509.html&st=30&p=1109292008#entry1109292008
Quote

This email address connects him to a Columbian bitcoin exchange he and his accomplice set up:
https://www.cryptocoinsnews.com/colbitex-colombias-first-bitcoin-exchange-released-in-testnet/
Quote

Roman Parra possesses a particular set of skills which show him and his accomplice, Carlos Mesa, to be well suited to the requirements of running and marketing an online industrial-process-based ponzi scam, such as Recyclix. What better way to launder all the bitcoin they are 'earning' than through your own bitcoin exchange! (Also a *great* way to later implement a scam whereby you can steal your exchange's customer bitcoins, too!)

But wait, what's this?. . .oh no! The exchange got shut down!

https://steemit.com/money/@kasper/in-colombia-the-first-cryptocurrency-exchange-market-is-closed-by-the-controller
Quote

Now, I'm wondering if the domain registrant details for this exchange are as fake as the "Aleksandr Suranovas" used for the Recyclix.com registration. As has been pointed out, Recyclix's own Polish-language pages are for shit and clearly not written by a native Polish-speaker, which is odd, considering they're supposed to be a Polish operation.
Quote

Maybe McDonald's who are currently investigating what the fuck Recyclix are doing to their beloved brand name, might want to point their lawyers towards the above information. Just a suggestion.

Roman Parra and Carlos Mesa are proven to be the fraudsters behind the Recyclix ponzi 'investment' scam. So when it collapses, which I imagine won't be too much longer given the 'McDonalds' fumble, all you 'investors' will know who to pursue!

You're very welcome!







 

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July 20, 2015, 08:32:11 AM
 #5

Hmm, fairly advanced Ponzi, let's dig a bit and see what we can find on this place and hopefully (but doubtfully) we can keep the discussion civil.

Has some contact info...



Contact

 Recyclix sp.  z oo

 KRS: 0000533282

 REGON: 360290387

 NIP: 5272725464

 Administrative office

 Al.Solidarnosci 115, office 2, zip: 00 140, Warszawa, Polska

 Helpline: +48 662-862-010

 E-mail: info@recyclix.com

 Sales office

 Poligonowa 28, Lomza 18-400, Polska

 Sales department phone: +48 662-862-113

 E-mail: sales@recyclix.com

And here is a supposed photo of the office.


http://www.talkgold.com/forum/r437266-.html


High-yield investment program (HYIP)


From Wikipedia, the free encyclopedia


https://en.wikipedia.org/wiki/High-yield_investment_program


This article is about a particular type of investment fraud. For legitimate high-yield investments, see yield (finance) and high-yield debt.

A high-yield investment program (HYIP) is a type of Ponzi scheme, an investment scam that promises unsustainably high return on investment by paying previous investors with the money invested by new investors. Most of these scams work from anonymous offshore bases which make them hard to track down.



Contents
1 Mechanics
2 Examples 2.1 Zeek Rewards
2.2 OSGold
2.3 PIPS
2.4 Colonyinvest
2.5 Other HYIPs

3 See also
4 References
5 External links


Mechanics

Operators generally set up a website offering an "investment program" which promises very high returns, such as 1% per day (3778% APY when returns are compounded every day), disclosing little or no detail about the underlying management, location, or other aspects of how money is to be invested. The U.S. Securities and Exchange Commission (SEC) has said that "these fraudulent schemes involve the purported issuance, trading, or use of so-called 'prime' bank, 'prime' European bank or 'prime' world bank financial instruments, or other 'high yield investment programs.' (HYIP's) The fraud artists … seek to mislead investors by suggesting that well regarded and financially sound institutions participate in these bogus programs."[1] In 2010, the Financial Industry Regulatory Authority (FINRA) warned that "[t]he con artists behind HYIPs are experts at using social media — including YouTube, Twitter and Facebook — to lure investors and create the illusion of social consensus that these investments are legitimate."[2]

Though Ponzi schemes have existed since at least the early 1900s, the rise of digital payment systems has made it much easier for operators of such websites to accept payments from people worldwide.[3] Electronic money systems are generally accepted by HYIP operators because they are more accessible to operators than traditional merchant accounts. Some HYIP operators opened their own digital currency companies that eventually folded; these companies include Standard Reserve, OSGold, INTGold, EvoCash, and V-Money. StormPay started in the same way in 2002, but it remained in business even after the HYIP that it was created to serve was shut down by the State of Tennessee.[4]

Some HYIPs have incorporated in countries with lax fraud laws to secure immunity from investor laws in other countries. The operators have been known to host their website with a web host that offers "anonymous hosting". They will use this website to accept transactions from participants in the scheme.[5][original research?]

Some investors try to make money by attempting to invest in HYIPs at an early enough stage to create a return, and then by cashing out before the scheme collapses to profit at the expense of the later entrants. This is in itself a gamble as poor timing may result in a total loss of all money invested. To reduce this risk some of these investors use "tracker sites" listing the schemes and their current state. One expert states that there is not enough evidence to corroborate that tracker sites can actually help investors make more money.[6]

Examples

Zeek Rewards

On August 17, 2012, the U.S. Securities and Exchange Commission (SEC) filed a complaint against defendants Paul Burks and Zeek Rewards, based in North Carolina. Paul Burks ran Zeek Rewards, an investment opportunity that promised investors returns by sharing in the profits of Zeekler, a penny auction website. Money invested in Zeek Rewards earned returns of 1.5% per day. Investors were encouraged to let their gains compound and to recruit new members into a "forced matrix" to increase their returns. The SEC contends that this forced matrix payout scheme constitutes a pyramid scheme.[7] New investors had to pay a monthly subscription fee of between US$10/month to $99/month and provide an initial investment of up to $10,000. The higher the initial investment, the higher the returns appeared. The SEC stated that the Zeekler website brought in only about 1% of the Zeek Rewards company's purported income and that the vast majority of disbursed funds were paid from new investments. The SEC alleges that Zeek Rewards is a $600 million Ponzi scheme affecting 1 million investors, which would be one of the largest Ponzi schemes in history by number of affected investors. A court-appointed receiver estimated that the $600 million amount could be "on the low end" and that the number of investors could be as many as 2 million.[8][9] Paul Burks paid $4 million to the SEC and agreed to cooperate with its investigation.[10][11][12]

OSGold

OSGold was founded as an e-gold imitator in 2001 by David Reed and folded in 2002. According to a lawsuit filed in U.S. District Court in early 2005, the operators of OSGold may have made off with USD $250 million.[13] CNet reported that "at the height of its popularity, the OSGold currency boasted more than 60,000 accounts created by people drawn to promises of "high yield" investments that would provide guaranteed monthly returns of 30 percent to 45 percent."[13]

PIPS

PIPS (People in Profit System or Pure Investors) was started by Bryan Marsden in early 2004 and spanned more than 20 countries.[14][15] PIPS was investigated by Bank Negara Malaysia in 2005 which resulted in Marsden and his wife being charged in a Malaysian court with 97 counts of money laundering more than 77 million RM, equivalent to $20 million.[16]

Colonyinvest

Another large case took place in Thailand in 2008. Colonyinvest cheated 50,000 Thai investors out of about 5 billion Baht (~ 150 million US$).[17]

Other HYIPs

Other HYIPs that have been shut down due to legal action include:
##Studiotraffic
##Geniusfunds inc. (Cyprus)[citation needed]
##Ginsystem Inc. (Singapore)[18]
##Solidinvestment[19] (United States)
##City Limouzine (India) Pvt Ltd started by Sayed Mohammed Masood and Chand Syed Masood. (India and United States) [20][21]

See also
##Autosurfing
##Charles Ponzi
##Cherry Shares
##Forex scam
##Internet Crime Complaint Center
##Ponzi scheme
##Pyramid scheme

Whois

http://recyclix.com.hit4hit.org/


"Recyclix.com" domain lookup results from whois.easydns.com server:


Domain Name: RECYCLIX.COM
 Registry Domain ID: 1901648488_DOMAIN_COM-VRSN
 Registrar WHOIS Server: whois.easydns.com
 Registrar URL: http://www.easydns.com
Updated Date: 2015-06-15T17:14:25Z
 Creation Date: 2015-02-09T15:15:28Z

 Registrar Registration Expiration Date: 2019-02-09T15:15:28Z
 Registrar: easyDNS Technologies, Inc.
 Registrar IANA ID: 469
 Registrar Abuse Contact Email: abuse@easydns.com
 Registrar Abuse Contact Phone: +1.4165358672
 Domain Status: clientTransferProhibited
 Domain Status: clientUpdateProhibited
 Registry Registrant ID:
 Registrant Name: Contact Privacy
 Registrant Organization: MyPrivacy.net Ltd.
 Registrant Street: 300A-219 Dufferin St.
 Registrant City: Toronto
 Registrant State/Province: ON
 Registrant Postal Code: M6K 3J1
 Registrant Country: CA
 Registrant Phone: +1.6474785997
 Registrant Phone Ext:
 Registrant Fax:
 Registrant Fax Ext:
 Registrant Email: recyclix.com@myprivacy.net
 Registry Admin ID:
 Admin Name: Contact Privacy
 Admin Organization: MyPrivacy.net Ltd.
 Admin Street: 300A-219 Dufferin St.
 Admin City: Toronto
 Admin State/Province: ON
 Admin Postal Code: M6K 3J1
 Admin Country: CA
 Admin Phone: +1.6474785997
 Admin Phone Ext:
 Admin Fax:
 Admin Fax Ext:
 Admin Email: recyclix.com@myprivacy.net
 Registry Tech ID:
 Tech Name: Contact Privacy
 Tech Organization: MyPrivacy.net Ltd.
 Tech Street: 300A-219 Dufferin St.
 Tech City: Toronto
 Tech State/Province: ON
 Tech Postal Code: M6K 3J1
 Tech Country: CA
 Tech Phone: +1.6474785997
 Tech Phone Ext:
 Tech Fax:
 Tech Fax Ext:
 Tech Email: recyclix.com@myprivacy.net
 Name Server: DNS1.EASYDNS.COM
 Name Server: DNS2.EASYDNS.NET
 Name Server: DNS3.EASYDNS.CA
 DNSSEC: unsigned
 URL of the ICANN WHOIS Data Problem Reporting System: http://wdprs.internic.net/
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On their website it states they have been working for years? earliest record I can see is this year

http://www.scamner.com/check/recyclix.com also mentions it was created this year

Quote
It happens that sometimes clients start working with brokers that ask them to pay everything in advance, but then deliver poor results and don’t meet the deadline. Recyclix.com has been working in the waste recycling market for many years in a row and during this time managed to build strong and mutually rewarding business ties with hundreds of clients that trust it. By collaborating with our company you will always receive the best possible service and get your order on time according to the highest quality standards.

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July 20, 2015, 08:49:14 AM
 #6

Oh I have no doubt that they are determined to try and play the "We're totally *not* a Ponzi" card by references to how you can actually received a big bag of plastic pellets if you want to, you know, as proof they are *totally-not-scam*.

This is a well-though-out smoke-and-mirrors operation but ALL the features of your regular Ponzi are there, only this time they are pretending to be legit by having a registered company and credit-card payment option, along with "If you don't believe us we'll send you the crap you bought" rebuttal.

I'm sure if you go for a visit they'll even take you round some firm's recycling operations, too. Not that they would actually have any relevance to how this scam operates other than as fall-back 'proof'.


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July 20, 2015, 09:00:32 AM
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And here is a supposed photo of the office.

Really? Where's that image from? Googlemaps only shows a block of shops in a High Street undergoing development for one address and an industrial estate where, conveniently, you can't actually get a street-view for the road in the estate they claim to be at for the other.


Recyclix is a real recycling company based in Poland and Latvia, they have strong connections withlocal municipal authorities and have a positive track record in collecting, recycling and sales. The business has been established 3 years ago.
Link to company docs:
http://www.krs-online.com.pl/recycli...s-1503451.html

Kinda weird for them to claim the business was established three years ago when the very company docs they link to show it was incorporated in November of last year.


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July 20, 2015, 09:08:08 AM
 #8

Oh I have no doubt that they are determined to try and play the "We're totally *not* a Ponzi" card by references to how you can actually received a big bag of plastic pellets if you want to, you know, as proof they are *totally-not-scam*.

This is a well-though-out smoke-and-mirrors operation but ALL the features of your regular Ponzi are there, only this time they are pretending to be legit by having a registered company and credit-card payment option, along with "If you don't believe us we'll send you the crap you bought" rebuttal.

I'm sure if you go for a visit they'll even take you round some firm's recycling operations, too. Not that they would actually have any relevance to how this scam operates other than as fall-back 'proof'.



I'm doing a bit more digging and going to see what I can find and edit my last post a bit for easier to read information. First thing I notice right off the bat is that everything is generalized and non-specific, here is a few examples of what I mean.


https://recyclix.com/about/

Quote
OUR COMPANY

Recyclix is a pioneering company that is unique in the world. Our key objective is to smartly fuse together the opportunities of the Internet and business in order to help the recycling industry develop as efficiently as possible.

Recyclix implements and controls various investment projects in Europe and has its head office located in Warsaw. In the near future we are planning to broaden our influence in other countries too. We have been collaborating with leading international companies engaged in production and recycling of plastic for a long time.

What investment projects exactly? and what companies?

Quote
OUR TEAM

Our team consists of highly-qualified experts who boast wide industry experience as well as unique skills and knowledge. It’s thanks to their work, which is backed by the highest corporate and professional ethics standards, that we achieve excellent results within the shortest possible deadlines.

Who are these people exactly? and what credentials do they have?

Quote
OUR AIM

Our aim is to protect interests of all our project’s participants and run our business in a smart way. Every registered user by default becomes both a prosperous business affiliate and a real environmentalist. Recyclix uses only environmentally friendly technologies that don’t harm the ecosystem and help restore it. We combined ecology and business because we believe that our future is all about these two things!

What environmentally friendly technologies? and how?


And here is a supposed photo of the office.

Really? Where's that image from? Googlemaps only shows a block of shops in a High Street undergoing development for one address and an industrial estate where, conveniently, you can't actually get a street-view for the road in the estate they claim to be at for the other.


Recyclix is a real recycling company based in Poland and Latvia, they have strong connections withlocal municipal authorities and have a positive track record in collecting, recycling and sales. The business has been established 3 years ago.
Link to company docs:
http://www.krs-online.com.pl/recycli...s-1503451.html

Kinda weird for them to claim the business was established three years ago when the very company docs they link to show it was incorporated in November of last year.



I got that from here.

https://recyclix.com/en/contacts/

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July 20, 2015, 09:30:34 AM
 #9

Gotta check this out, pretty cool site giving you a background on activity http://www.similarweb.com/website/recyclix.com

42% of it's traffic is from referrals and 21% of all traffic comes from Poland, earliest date from here is April.

Website began Feb 09, 2015, marketing began to ramp up in April.

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July 20, 2015, 09:35:31 AM
 #10

Well considering I picked up on this from someone promoting it in the Russian-language thread here for scrypt.cc, it doesn't surprise me at all that much of their traffic is currently from that part of the world.


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July 20, 2015, 09:38:09 AM
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Now, on to the part where the scammers' own small-print clearly states them to be a Ponzi scheme:

Recyclix Sp.z o.o may merge these funds with the funds of other Users and its proprietary funds. These merged funds may be used for payments to other Users or for the sake of our mutual corporate aims or otherwise. However, Recyclix Sp.z o.o. shall in any case pay or return you the funds according to this Payment Policy and the Terms of Use.

This tells you that they are stating they will use your money to pay other users - Ponzi scheme.

While you're probably right about this being just another scam, the practice of using recent deposit to service withdrawals isn't suspicious. The practice of using a small 'hot wallet' while the majority of funds are kept separately is commonplace and makes a lot of sense.

If you deposit to Just-Dice.com right now, your coins will likely be used to service someone else's deposit shortly afterwards. That doesn't make us a Ponzi, and we do weekly proofs of solvency to make that clear.

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July 20, 2015, 09:53:53 AM
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The issue isn't actually that they would declare cryptocurrency deposits would be used to pay other users, as cryptocurrency is generally not regulated like fiat currency, it is that this same statement applies also to payments received into their bank account that will be used to pay other 'investors' which is the giveaway.

I'm not sure what the regulatory environment is in Poland, but I know you can't manage client funds like that legally in most parts of the world.


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July 20, 2015, 10:03:35 AM
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Now, on to the part where the scammers' own small-print clearly states them to be a Ponzi scheme:

Recyclix Sp.z o.o may merge these funds with the funds of other Users and its proprietary funds. These merged funds may be used for payments to other Users or for the sake of our mutual corporate aims or otherwise. However, Recyclix Sp.z o.o. shall in any case pay or return you the funds according to this Payment Policy and the Terms of Use.

This tells you that they are stating they will use your money to pay other users - Ponzi scheme.

While you're probably right about this being just another scam, the practice of using recent deposit to service withdrawals isn't suspicious. The practice of using a small 'hot wallet' while the majority of funds are kept separately is commonplace and makes a lot of sense.

If you deposit to Just-Dice.com right now, your coins will likely be used to service someone else's deposit shortly afterwards. That doesn't make us a Ponzi, and we do weekly proofs of solvency to make that clear.

The recyclix website contains enough vague information in order to make it suspicious, with little information on how it can achieve such high returns. If there was a proof of solvency there then sure but isn't waste recycling a very tight margin service itself?

A $20 referral service is a lot and I can't see how that in itself could be sustainable.

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July 20, 2015, 01:02:26 PM
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Satisfaction guaranteed or twice your trash back!  Grin  Cheesy

All of my posts are simply statements of my own personal opinions based on available information and pondering what might be possible considering human nature, with the goal of finding truth and preventing fraud. Please look at all of the facts and theories and put your thinking cap on to draw your own conclusions. If you feel that I have made a false statement or have been unnecessarily derogatory, I encourage you to please point it out, and if proven correct and/or reasonable I will remedy it. ~ Paul Revere
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July 20, 2015, 07:27:47 PM
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And here is a supposed photo of the office.

Really? Where's that image from? Googlemaps only shows a block of shops in a High Street undergoing development for one address and an industrial estate where, conveniently, you can't actually get a street-view for the road in the estate they claim to be at for the other.


I do not have much time right now to make a small investigation, but I live in Warsaw and:



Aleja Solidarnosci 115 office 2 is a addresse of virtual office. It means, that you pay ~30euro/month and you are able to register your company with a some kind of "prestige" addresse (firstly you have to find a company offering that service), but this is only a addresse, nothing more. I just google it and there is registered more than 400 companies, so it's another red flag.

On this picture above is their sales office in Lomza (Poligonowa street) - north - east located city in Poland.
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July 21, 2015, 08:29:17 AM
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Dont forget to compound your profits!!

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July 25, 2015, 08:21:55 AM
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Just a little note about Recyclix: I wrote them to offer my services as a translator and after accepting my quote they paid me in full in advance.
Doesn't mean they're not a scam, but you don't see many companies acting this way these days Smiley

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July 25, 2015, 02:38:02 PM
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Just a little note about Recyclix: I wrote them to offer my services as a translator and after accepting my quote they paid me in full in advance.
Doesn't mean they're not a scam, but you don't see many companies acting this way these days Smiley

Or they're glad they can get more victims now

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July 25, 2015, 05:07:54 PM
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I am curious about the shrubs on each side of the entry door. They look like highly pruned (topped and skirted) Blue Spruce.

All of my posts are simply statements of my own personal opinions based on available information and pondering what might be possible considering human nature, with the goal of finding truth and preventing fraud. Please look at all of the facts and theories and put your thinking cap on to draw your own conclusions. If you feel that I have made a false statement or have been unnecessarily derogatory, I encourage you to please point it out, and if proven correct and/or reasonable I will remedy it. ~ Paul Revere
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July 25, 2015, 07:28:56 PM
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Screw all ponzis, there is no such thing as easy money, people stop investing and losing your money to these third graded worthless scam ponzis.

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