Mining City Review – Another BS Cryptocurrency Scam!

Mining City doesn’t provide you with anything on its landing page other than it’s a MLM company running a cryptocurrency investment platform.

The domain was registered back in 2003 with Prophetek listed as the domain owner. There was also an incomplete address in Cyprus that came with this registration.

Given that Cyprus is lenient towards scams, I wouldn’t be surprised to know that these details are fake.

Their marketing videos however revealed who their owners are. One of the videos showcased their Investment Seminar in Vietnam last May 2019 and was uploaded on their official YouTube channel.

The video showcases a man of European descent talking to a Vietnamese audience. The backdrop of the seminar showed two people behind Mining City: Grzegor Rogowski and Eyal Avramovich.

Rogowski also goes by the name of Gregory Rogowski on his LinkedIn Profile. He also uses the alias Greg Strong. Rogowski is based somewhere out of Poland, so we assume that’s where Mining City operates from.

Prophetek, the company listed as the domain owner, appears to be nothing more than a shell company for Mining City.

Mining City is Rogowski’s first MLM venture and is running through Europe. However, his audience appear to be people from Asia, specifically Vietnam, Japan, and South Korea.

Mining City Product Line

Mining City offers no retail products or services. The only thing you’re getting into is membership into their income opportunity.

In simpler terms, you’re paying to be able to recruit people into the program and getting money out of it.

Does The Product Work?

To be honest, Mining City is nothing more than a cloud mining securities investment fraud scheme.

Why securities you ask? Because they promise a passive income, which constitutes securities. This means that transactions involve trading and reinvesting to generate profits for member investments.

However, this would mean that they’d need to be registered with the Polish Financial Supervision Authority in Poland and Securities Exchange Surveillance Commission in Japan. They would also have to be registered with any securities regulator in countries they operate in.

Mining City doesn’t have any evidence that they’re registered to do securities, or solicit any investments within the jurisdictions they operate in.

This means that Mining City operates illegally in the countries they’re marketing to, which is all of them.

To top it off, Mining City announced that they’re partnered with third-party miners such as MineBest and BTC.com.

Now we don’t want to dispute any of their partnership because that’s a moot point. However, we would like to bring their partnership up because regulatory registrations usually require companies who offer passive income opportunities to provide evidence that they’re generating external revenue to pay off investors.

In this case, Mining City claims that they’re generating revenue by investing in these mining companies. But signing a contract with these third-party sources is not proof that external revenue is being generated. The announcement has nothing to do with proving they’re generating income at all. It just gives them a pseudo-legitimate way out of a problem.

As it stands, the only source of income coming into Mining City is new investment from new members.

They could be generating revenue from mining but there’s no hard evidence that that’s being done, or is their proof that this revenue is used to pay off returns.

The only way to make money from Mining City is through their recruitment incentives.

How To Get Started with Mining City?

There’s a membership cost associated with Mining City, and that’s through the initial investment.

The minimum investment starts at $500 and can go as high as $3,500. Mining City’s back office mentions that while investment amounts are in dollars, the actual investments are made in Bitcoin.

Mining City Compensation Plan

There are 8 ranks that you can qualify for within Mining City:

Resident – personally invest at least $300

Citizen – personally invest at least $600

City Builder – maintain $600 in active investment, recruit five Citizens and generate $12,000 in downline investment volume

City Developer – maintain $600 in active investment, have a City Builder in three unilevel team legs and generate $60,000 in downline investment volume

City Manager – invest $2400 in active investment, have a City Developer in three unilevel team legs and generate $300,000 in downline investment

City Chief Manager – invest $4200 in active investment, have a City Manager in three unilevel team legs and generate $2,400,000 in downline investment volume

City Mayor – invest $12,600 in active investment, have a City Chief Manager in three unilevel team legs and generate $12,000,000 in downline investment volume

Governor – invest $13,800 in active investment, have a City Mayor in three unilevel team legs and generate $100,000,000 in downline investment volume

Each of the ranks constitute the following:

• Higher initial and active investments
• Consistent initial and active investments of recruits
• Consistently recruiting people
• Consistently helping your recruits recruit people

Reinvestment Commissions

You get reinvestment commissions made by your downline members and paid differently to package investments (see residual commission below).

Reinvestment is paid using the same mechanics as residual unilevel team commissions (see below).

Matching Bonus

Mining City pays matching bonusues via the same unilevel compensation structure used to pay out residual commissions. This is capped at 11 unilevel team levels.

Residual Commissions (unilevel)

This is a unilevel compensation structure that places the affiliate at the top of the unilevel team. Personally recruited members are placed directly under you, and this is your level 1. Their recruits become your level 2 and so on.

Commissions are paid on investments across the entire unilevel team.

Residual Commissions (binary)

You also get residual commissions following a binary compensation structure. You’re placed at the top of your team, and two positions are split under you. Personally recruited members fall into the left and right leg (first level).

Each of the legs also houses 2 new positions as second levels, and so on.

#1 Securities Fraud

As I explained earlier, Mining City is committing securities fraud. Mining City members dump BTC or BTCV into the scheme and collect passive ROI over the next 1100 days.

How Mining City generates the passive income is irrelevant because they don’t have the authority to do so. In order for MLM companies to legally do this, they must be registered with agencies that regulate securities.

In this case, Mining City does not provide proof that they’re registered with these agencies from any country. This means that they’re operating illegally and as a pyramid scheme.

#2 Pyramid Scheme

This brings me to my second point. Mining City operates as a pyramid scheme because they don’t have any retail products or services to offer.

This is also another violation of the FTC or Federal Trade Commissions’ guidelines for MLM companies.

#3 Worthless Coin

BTCV, their cryptocurrency, is a worthless coin outside of Mining City. The coin just tricks you into thinking that your money is cycling through the program.

This has no market value and can’t be traded anywhere. It’s only worth using, if ever, in Mining City.

There’s just nothing to like about Mining City. It’s a BS MLM scheme and we’ve pinpointed all the red flags!

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