EmpiresX Review - Cryptocurrency & Forex MLM | Trust Score & Ratings

Founded2020

HeadquartersFort Myers, Florida

Trust Score20/100

About EmpiresX

EmpiresX is a cryptocurrency Ponzi scheme that promised investors a guaranteed 1% daily return on Bitcoin and Ethereum deposits. Founded in 2020 and based in Fort Myers, Florida, it was co-founded by Emerson Sousa Pires and Flavio Goncalves.

The company falsely claimed to use proprietary trading technology to generate returns, but ultimately relied on new investor deposits to pay earlier investors. By July 2022, the SEC had shut down EmpiresX, revealing approximately $100 million in losses for victims.

With a trust score of just 20/100, EmpiresX has faced serious legal issues, including SEC and CFTC enforcement actions and criminal charges for fraud. This MLM venture is a stark reminder of the risks involved in network marketing schemes.

Pros and Cons

✓ Pros

✗ Cons

Ponzi scheme structure
EmpiresX promised a guaranteed 1% daily return, but this was funded by new investor deposits, typical of a Ponzi scheme.
SEC and CFTC enforcement
The company has faced legal actions from both the SEC and CFTC, indicating serious regulatory issues.
Criminal charges
Founders of EmpiresX have been charged with fraud, highlighting the risk of legal repercussions for investors.
$100M in victim losses
Investors have reported losses totaling around $100 million, showing how many people have been affected by the scheme.
Low trust score
With a trust score of just 20/100, it’s clear that many people have serious doubts about the company’s legitimacy.

Verdict: Honestly, I wouldn't recommend looking into EmpiresX. The risks are extremely high, and the legal troubles suggest it’s not a safe investment opportunity at all.

Best for: This is definitely not for anyone looking for a legitimate business opportunity. If you value your hard-earned money, steer clear of this one.

Risk Analysis

EmpiresX presents a critical risk profile due to its Ponzi scheme structure, with promised returns relying solely on new investor deposits. The company faces significant regulatory scrutiny, including criminal charges and substantial losses for victims.

Key Concerns

Ponzi scheme structure critical
Promises a guaranteed 1% daily return funded by new investor deposits.
SEC and CFTC enforcement actions high
Facing enforcement actions from both agencies related to fraudulent practices.
Criminal charges against operators high
Operators have been criminally charged for fraud.
$100M in victim losses critical
Reported losses indicate a significant number of victims affected.
Low trust score high
Trust score of 20/100 reflects widespread skepticism and concern.

Consumer Advice: If you're considering investing in EmpiresX, be extremely cautious. The risk of losing your money is very high, given the Ponzi structure and ongoing legal issues.

Frequently Asked Questions About EmpiresX

Is EmpiresX a legitimate MLM company?

No, EmpiresX is not a legitimate MLM company. It operates as a Ponzi scheme, promising guaranteed daily returns that are paid from new investor deposits rather than actual trading.

What products does EmpiresX sell?

EmpiresX doesn't sell legitimate products. They claim to offer trading services but primarily focus on recruiting new members to sustain their promised returns.

How much can you make with EmpiresX?

EmpiresX claims you can earn a guaranteed 1% daily return on your investment. However, since the scheme is unsustainable and relies on new investors, actual earnings can quickly vanish.

Are there complaints about EmpiresX?

Yes, there are numerous complaints about EmpiresX, with many investors reporting losses. The company has faced enforcement actions from the SEC and CFTC, indicating serious legal issues.

What is the compensation plan of EmpiresX?

EmpiresX doesn't have a legitimate compensation plan. They promise returns based on new investments, which is a hallmark of a Ponzi scheme, rather than any real business activity.

What is the cost to join EmpiresX?

The cost to join EmpiresX can vary based on how much you invest. However, since it's a Ponzi scheme, investing could lead to total loss rather than any real return.

What is EmpiresX's BBB rating?

EmpiresX does not have a BBB rating. Given its critical risk level, it's likely they haven't achieved any positive recognition from consumer protection agencies.

What are the risk flags associated with EmpiresX?

EmpiresX has several serious risk flags, including being labeled a Ponzi scheme, facing SEC and CFTC enforcement, and having reports of over $100 million in victim losses.

Are there alternatives to EmpiresX?

Yes, there are many legitimate investment opportunities that don’t involve the risks associated with EmpiresX. It's crucial to research and find credible companies with verifiable products and services.

Compensation Plan

Plan Type

This plan is essentially a Ponzi scheme. That means it promises high returns, but those returns are paid out using money from new investors, not from actual profits.

How Earnings Work

Guaranteed Returns: EmpiresX claims you'll get 1% back every day on your Bitcoin and Ethereum deposits. But here’s the catch — this money comes from new investors, not from any real trading.
Recruitment Focus: To get paid, you need to bring in more people. The system relies on you finding new investors to keep the money flowing.
No Real Compensation Plan: There’s no actual way to earn money through sales or any legitimate trading activity.

Requirements

No official qualifications, but you need to keep recruiting new members to see any returns.
This setup leads to a pay-to-play scenario where your earnings depend heavily on how many people you can bring in.