Originally Syndicated on July 11, 2024 @ 7:23 am
On its website, Athene Network does not list executive or ownership information. On July 5th, 2023, the domain name “athene.network” for the website of Athene Network was registered in private. December, five months later, saw the inauguration of Athene Network.
Athene Network has only been around for a few months, but on its website, it erroneously states that its roadmap is for 2021. SimilarWeb identified the top five countries from which Athene Network’s website received traffic as of December 2023: Indonesia (18%), the US (15%), Benin (14%), India (14%), and Canada (7%).
The official Athene Network YouTube account has marketing videos with AI avatars that have been robo dubbed.
AI avatars used by MLM companies are a common feature of low-effort scams.
As usual, consider carefully before joining or sending any money to an MLM firm if it is not transparent about who owns or runs it.
Athene Network- Products of Athene Network
Athene Network does not offer any retail goods or services.
Only the Athene Network associate membership itself may be marketed by affiliates.
Athene Network- Athene Network’s Scheme for Compensation
Affiliates of Athene Network download an app, then press a button on a regular basis to get GEM tokens.
Press the mining button and check in once every 24 hours to begin mining GEM. Recruitment can result in a rise in the daily GEM payout amount.
The ATH token is created from the GEM token. Total ATH Tokens for the Mining Month / Total GEM Mined by All Users * GEM Mined by Each User equals the amount of ATH that each user will receive.
Affiliates of Athene Network paid out internally in USDT (tether). There are certain trash games that affiliates have to pretend to play in order to cash out, though I’m not sure if that’s the only way to do it.
Athene Network established both GEM and ATH, which have little value outside of the organization.
The multilevel marketing aspect of Athene Network consists of recruiting affiliates to raise daily GEM returns.
On the $3 costs paid to get over KYC withdrawal limits, two level referral commissions are also paid (unilevel):
Level 1 (affiliates that are directly recruited): $1 for every $3 in fees; level 2: 50 cents for every $3 in fees
Athene Network- Acquiring Access to Athene Network
Joining the Athene Network as an affiliate is free.
Athene Network- Conclusion of Athene Network
Athene Network is unrelated to AI, despite its promotion.
Affiliates that register for free on Athene Network’s website click a button to begin getting a daily ROI paid in GEM. More recruiters receive more GEM.
Aftermath is converted from GEM, affiliates can pay out in USDT. Where is this USDT coming from if affiliates are just paying an optional $3 KYC bypass fee? Athene Network is using “angel investment rounds” to raise capital.
According to the above official Telegram post, Athene Network intends to ask its affiliates for $140 million.
Additionally, for a charge, there is a “premium package” that guarantees a 300% boost in daily returns.
It appears that the option to “trade BTC ATH” in the screenshot above can be used to postpone withdrawals.
Athene Network does not generate any income other than by stealing affiliates. This implies that withdrawals must be limited or postponed.
Apart from devising strategies to entice ATH, Athene Network limits withdrawals by necessitating KYC.
If affiliates don’t pay the $3 fee (previously $10 imposed by Athene Network), KYC processing is delayed.
Beyond that, Athene Network only issues threats to terminate affiliates’ accounts for excessive withdrawals.
In the end, it is clear that there is a problem with the lack of major external revenue production because GEM and ATH were established out of thin air and affiliates want to eventually cash them out.
Ultimately, a number of elite recruiters will attempt to cash out, and the administrators of Athene Network will make excuses to prevent that from happening.
Athene Network is hurting consumers by wasting people’s time, even with just a $3 optional fee assessed to investors.
It should be mentioned that Athene Network is extremely illegal and unregistered when it comes to soliciting investment outside of its MLM opportunity.
Nothing about the promises made to “angel investors” by the con artists running Athene Network is made public.
Athene Network- Summary
In summary, Athene Network is something you should definitely avoid unless you enjoy wasting your time.
Athene Network- Ponzi scheme ( Same as the Athene Networks)
An investment scam known as a “Ponzi scheme” uses funds taken from later investors to compensate early investors in order to provide the impression of large gains. An investor in a Ponzi scheme is promised a high rate of return with low risk. It depends on word-of-mouth since new investors learn about the substantial returns that early investors obtained. When fresh funding stops coming in, the plan will inevitably come to an end because it can’t pay out the claimed gains.
Both a Ponzi scheme and a pyramid scheme employ the money of new investors to settle debts owed by previous backers. A pyramid scheme breaks down when the pool of possible members shrinks and often depends on compensating early participants to attract more participants.
- In order to give the impression of profit, a Ponzi scheme depends on an increasing number of new investors.
- A portion of the fresh funds are used to reimburse previous investors, giving the fraud an air of legitimacy and great profitability.
- The person running the fraud keeps most of the money for themselves.
- When the flow of new investors slows down and the promised returns vanish, the scam falls apart.
Athene Network- What Makes It a Ponzi Scheme, Anyway?
Charles Ponzi, a businessman who successfully convinced tens of thousands of people to invest their money in a fictitious endeavor for a guaranteed high profit, is the inspiration behind the name of ponzi schemes. Ponzi’s initial investors received their money, but it was funded by contributions from subsequent investors. Before his scam was discovered, Ponzi made millions of dollars.
Athene Network- How Can a Ponzi Scheme Be Spotted?
The SEC has recognized some characteristics that frequently indicate a fraudulent financial plan. The SEC cautions caution if an investment opportunity promises a very high rate of return, promises that return within a specific time, and is not registered with the agency.
Athene Network- The Final Word
The Ponzi schemers are not making any investments with the money that their clients part with. By compensating early investors from the money invested by later investors, they are fabricating an appearance of profits. They are keeping the majority of the money for themselves in the interim. Promises of consistent, large profits at no risk to you should be avoided.
This platform has made the decision to act entirely absurd. They’re simply disregarding me now that I contributed some funds. I feel completely conned because no one responds to any of my emails. This has been an awful encounter. . All I want is that which is taken be returned. I have to file a compliant to the mail (joan hopkins 104 at 9ma1l .com) for my refund and my assets were all recovered back I recommend Jo***