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Harald Seiz flogs a lifeless horse


MineBase is the most recent brainchild from Harald Seiz.

Seiz, a German nationwide, is finest identified within the MLM trade for ripping off a ton of individuals via Karatbars Worldwide.

Karatbars Worldwide started in 2011 as a gold-themed pyramid scheme.

Circa 2017-2018, Seiz partnered up Gold Customary Financial institution and proprietor Josip Heit.

This partnership noticed Karatbars transition into cryptocurrency fraud.

Karatbars Worldwide’s first documented occasion of crypto fraud was the KaratBank ICO in early 2018.

KaratBank flopped however finally Seiz and Heit received KaratGold Coin (KBC) off the bottom.

After months of hyping Karatbars Worldwide traders on the promise 100 KBC can be redeemable for 1 gram of gold, KBC publicly launched on July 4th.

KBC’s launch was a catastrophe. Seiz’s 1 gram of gold promise wasn’t honored and KBC dumped 62% in a number of days.

Josip Heit left Karatbars Worldwide by the tip of the 12 months and went off to launch his personal GSPartners clone.

KBC collapsed and was finally changed by V999 token. Heit’s subsequent try at rebooting Karatbars Worldwide was Freebay in mid 2020.

By the tip of 2020 Freebay had collapsed, prompting Seiz to have a very public meltdown.

What adopted was six months of radio silence. Seiz finally resurfaced with Lifebase in June 2021.

Lifebase collapsed after a number of months. In December 2021 Seiz despatched out an e mail to his victims, promising a correct Karatbars Worldwide reboot.

That by no means occurred.

As an alternative in April 2022, Karatbars Worldwide victims have been contacted by Acua Wellington.

The specifics of Acua Wallington stay murky. BehindMLM wrote it off as an apparent restoration rip-off, possible in a position to goal Karatbars victims as a result of Seiz bought the affiliate database.

Lastly in August 2022 MineBase emerged.

The unique launch was so comically dangerous that I assumed I used to be taking a look at one other restoration rip-off.

Whereas Seiz seems to be in command of MineBase, the preliminary restoration rip-off nature of the its launch suggests he’s working with Russian scammers.

MineBase operates from two identified web site domains:

  • “minebase.io” (main) – privately registered on Could 1st, 2022
  • “minebase.com” – first registered in 2014, non-public registration final up to date April twenty eighth, 2023

Quick ahead to mid 2023 and MineBase remains to be chugging alongside. The MLM aspect of the enterprise is extra fleshed out, prompting requests for an official BehindMLM evaluation.

It must be famous that within the lead as much as MineBase, Harald Seiz’s varied schemes have attracted the next regulatory consideration:

Seiz, initially from Germany, fled the nation for Thailand in some unspecified time in the future. This grew to become identified following a German court docket issuing a warrant for Seiz’s arrest a number of months in the past.

There haven’t been any additional updates so presumably Seiz remains to be wished by German authorities.

BehindMLM can’t verify Seiz’s present standing as occurring the run coincided together with his abandoning of social media (FaceBook in 2021 and Instagram final 12 months).

Learn on for a full evaluation of MineBase’s MLM alternative.

MineBase’s Merchandise

MineBase’s advertising and marketing particulars a number of product classes:

None of those have something to do with MineBase’s MLM alternative.

MineBase Compensation Plan

MineBase associates make investments tether (USDT) into MBASE tokens. That is executed on the promise of a 500% ROI paid after 18 months.

  • 1 Star Package deal – make investments 100 USDT, obtain 250 MBASE tokens and obtain 500 USDT after 18 months
  • 2 Star Package deal – make investments 500 USDT, obtain 1250 MBASE tokens and obtain 2500 USDT after 18 months
  • 3 Star Package deal – make investments 1000 USDT, obtain 2500 MBASE tokens and gather 5000 USDT after 18 months
  • 4 Star Package deal – make investments 3000 USDT, obtain 7500 MBASE tokens and gather 1500 USDT after 18 months
  • 5 Star Package deal – make investments 5000 USDT, obtain 12,500 MBASE tokens and gather 25,000 USDT after 18 months

The MLM aspect of MineBase pays on recruitment of affiliate traders.

MineBase Affiliate Ranks

There are 5 affiliate ranks inside MineBase’s compensation plan.

Together with their respective qualification standards, they’re as follows:

  1. Diamond – “you want factors to get a fee” (???)
  2. Black Pearl – recruit ten associates who collectively have invested in not less than 10,000 MBASE tokens
  3. Era – recruit not less than twenty associates
  4. Royal Crown – generate a downline who collectively have invested in not less than 10 million MBASE tokens
  5. Royal Crown President – “it’s essential to attain the best degree in every enterprise heart” (word this doesn’t make any sense)

Referral Commissions

MineBase associates earn 10% of funds invested into MBASE tokens by personally recruited associates.

Residual Commissions

MineBase pays residual commissions through a unilevel compensation construction.

A unilevel compensation construction locations an affiliate on the prime of a unilevel workforce, with each personally recruited affiliate positioned instantly underneath them (degree 1):

If any degree 1 associates recruit new associates, they’re positioned on degree 2 of the unique affiliate’s unilevel workforce.

If any degree 2 associates recruit new associates, they’re positioned on degree 3 and so forth and so forth down a theoretical infinite variety of ranges.

To qualify for residual commissions, a MineBase affiliate should recruit not less than two associates who’ve invested in MBASE tokens.

Residual commissions are paid as a share of complete downline MBASE token funding every week.

  • have twenty associates in your downline and obtain a 1.8% residual fee price
  • generate gathered downline funding of not less than 10 million MBASE tokens and obtain a further 2% residual fee price

Observe that as much as 70% of required downline associates may be counted from anybody recruitment leg.

Diamond Commissions

MineBase pays a tiered fee based mostly on downline MBASE token funding exercise.

Base Diamond Commissions are calculated weekly, based mostly on the next standards:

  • Diamond (generate downline funding of not less than 500 MBASE tokens) – 2% Diamond Fee price
  • Double Diamond (generate downline funding of not less than 12,000 MBASE tokens) – 2.2% Diamond Fee price
  • Triple Diamond (generate downline funding of not less than 150,000 MBASE tokens) – 2.4% Diamond Fee price

Observe that solely as much as 70% of MBASE token funding may be counted from anybody recruitment leg.

Diamond Commissions qualification standards are calculated weekly. I consider percentages paid out are on the qualifying quantity generated every week.

Further Diamond Fee charges may be earned based mostly on the next qualification standards:

  • Diamond associates obtain a further 2% if they’ve recruited ten associates who’ve every invested in not less than 8000 MBASE tokens
  • Double Diamond associates obtain a further 2% if they’ve recruited 5 associates who’ve every invested in not less than 90,000 MBASE tokens
  • Triple Diamond associates obtain a further 2% if they’ve recruited three associates who’ve every invested in not less than 1,500,000 MBASE tokens
  • a further 3% Diamond Fee is paid as soon as a MineBase affiliate generates an gathered 5 million MBASE token downline funding

Royal Crown President Bonus

If a MineBase associates earns in the entire commissions and bonuses detailed above, they qualify for a share in 1% of MineBase’s company-wide funding.

Becoming a member of MineBase

MineBase affiliate membership is tied to tether funding in MBASE tokens:

  • 1 Star Package deal – 100 USDT
  • 2 Star Package deal – 500 USDT
  • 3 Star Package deal – 1000 USDT
  • 4 Star Package deal – 3000 USDT
  • 5 Star Package deal – 5000 USDT

MineBase Conclusion

MineBase as an MLM alternative is a very complicated mess. And that’s earlier than we get into the hooked up 500% ROI Ponzi scheme.

I’ve executed my finest to current as correct a breakdown of MineBase’s compensation plan as I can above. MineBase’s compensation plan didn’t move the headache take a look at, and I’m nonetheless undecided it’s 100% correct.

MineBase exit of their method to complicate commissions and bonuses. This begins by referring to particular person commissions and bonuses as “enterprise facilities”.

Historically in MLM a “enterprise heart” is an earnings place. That’s not the case in MineBase.

Then there’s the seemingly pointless tiers in every fee and bonus.

suppose the concept is that the fee and bonus percentages are paid company-wide, however then that is not sensible as a result of commissions and bonuses are tied to a person affiliate’s downline. So what goal do the tiers have?

Usually in MLM we see tiers for bonuses. These may be ranks or no matter, the purpose is a share is saved apart and everybody who qualifies for that tier receives a share.

MineBase seem to use this to their total compensation plan. What this creates truthfully isn’t value bothering with. And good luck making an attempt to clarify this nonsense to anybody.

I wish to clarify that this isn’t somebody complaining a couple of lack of familiarity. I’ve no downside with MLM firms making an attempt new issues or placing their twist on conventional compensation buildings.

However that’s not what’s taking place right here.

I misplaced depend what number of occasions I caught myself considering “why?”, or “that doesn’t even make sense” whereas making an attempt to dissect MineBase’s compensation documentation. It’s that dangerous.

After which we’ve got MineBase’s 500% ROI Ponzi scheme. Associates make investments tether, obtain MBASE and gather a 500% ROI on MBASE after 18 months. They then hope to money out that MBASE for tether.

Though staking isn’t talked about, I consider that’s the Ponzi mannequin MBASE is utilizing.

It’s fairly much like what Seiz’s former companion in crime is doing together with his Swiss Valorem Financial institution Ponzi scheme (previously GSPartners).

Identical 18 month maturity interval, however Heit is simply providing 300% over Seiz’s 500%.

Anyway, finer factors apart, right here’s how MBASE goes since launch:

(CMC)

MineBase associates would possibly get 500% in nugatory MBASE tokens after 18 months, however they’re certain as hell not getting 500% on the tether they invested.

MBASE is already down 70% because it launched in late 2022. 18 months? MBASE will most likely be properly into ‘fractions of a cent” territory by then.

To summarize, MineBase is one other crypto Ponzi scheme from a serial creator of MLM Ponzi and pyramid schemes.

Whereas Seiz is needed by German courts, sadly it’s not due to his MLM pyramid and Ponzi scamming. German authorities have been utterly asleep on the wheel relating to MLM crypto associated securities fraud.

And because of that, Seiz continues to fleece new victims – with little doubt a wholesome dose of Karatbars victims hoping to recoup current losses tossed into the combination.

SimilarWeb tracked just below 800,000 visits to MineBase’s .IO web site in Could 2023. Nearly all of that site visitors originated from Venezuela (17%), the US (16%), Germany (10%), Switzerland (10%) and Ukraine (8%).

MineBase isn’t registered to supply securities in any of those jurisdictions. MLM firms commit securities fraud as a result of they’re working Ponzi schemes.

As with all MLM Ponzi schemes, as soon as affiliate recruitment dries up so too will new funding.

It will starve MineBase of ROI income, finally prompting a collapse.

The mathematics behind Ponzi schemes ensures that once they collapse, the vast majority of members lose cash.



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