As the dollar-earning market heats up, fraudsters seize the opportunity and target users with new Ponzi projects and scams every day. One of these projects that has made a lot of noise in recent months is FluxCart; A project that, according to many people, has almost all the signs of a pyramid and Ponzi scheme.
In this article from Eviralnews, we decided to first see what FluxCart is and then discuss the reasons for the dubiousness of this project. We recommend you stay with us until the end.
What is a FluxCart?
According to Fluxcart’s official website, the project presents itself as an e-commerce platform launched in 2022 by a creative entrepreneur named Suparnuch Boonsiri, providing a wide channel through advanced algorithms and data analysis. in which products connect different sellers to potential buyers and thus increase the likelihood of their sale. According to the claim of this website, this mechanism has caused the income of the sellers who use Fluxcart to increase a lot and more people are attracted to this project every day.
According to the website, Bonsiri is an e-commerce veteran with a deep understanding of market needs and technology trends, and seeks to transform Fluxcart into a platform for global product sales development.
If we search a little on this website, we will see that it is written that Fluxcart is a third-party trading company, registered in the city of London, England, and cooperates with many sellers in online markets, the most famous of which is Amazon.
How does FluxCart work?
Various sellers use Fluxcart to increase sales and display their products. The company claims that its users help the sellers who have contracts with Fluxcart to rank higher and be seen more by making fake and false purchases on Amazon and other online markets! After the purchase, the purchase amount is returned to the user’s account, and part of the income from the contract with the seller is also paid to the user’s account and a percentage of interest is earned.
According to Fluxcart’s claim, the company itself takes only 40-35% of the fees paid by sellers to Fluxcart and 60-65% is paid to users, which is a big claim.
Participating in buying fakes from different sellers is just one way to earn money allegedly from Fluxcard. If you install this company’s application, you will see that this company has made a lot of maneuvers on getting referrals and inviting friends, which sounds the alarm that it is a Ponzi and a pyramid scheme.
Why should you be suspicious of Fluxcart?
There are several reasons to be suspicious of the Fluxcart project and many factors indicate that this project is a pyramid scheme and a Ponzi scheme.
The first reason is the forced referral system and its pyramidal structure. In order to participate in Fluxcart, users must log in using someone else’s referral code, which is often seen in pyramid schemes. This pyramid structure shows that instead of focusing on its e-commerce activities, Fluxcart is looking for subdivision and expansion of its network.
Another factor that raises the alarm for Fluxcart is the mandatory initial deposit and lack of guarantee of capital security. In Fluxcart, every user must have an initial deposit of $100 Tether as soon as they register in order to start their activity. On the other hand, there is no guarantee of return of investment or security of your deposited funds.
In addition to the above, Fluxcart claims to be a London-registered trading company and has provided credentials on its website to gain users’ trust. However, these documents are insufficient and cannot be verified. On top of that, there is no concrete information from Suparnokh Bonsiri, the seemingly entrepreneurial and experienced creator of Fluxcart, and the company has no LinkedIn page either!
Is Fluxcart a fraud and pyramid project?
The structure, promises and fundraising methods of Fluxcart are very similar to known scam schemes. As we said, in this structure, users need to introduce a person to enter the system, and they receive a reward for attracting each new person. This reward model encourages people to invite their friends and acquaintances to this plan at any cost. In addition, the promise of astronomical profits without any risk is another suspicious sign of this plan.
In Fluxcart, there is a referral system that gives users a step-by-step reward. According to this system, you get $1 bonus for every new person who signs up with your referral code. Now, if 5 users register with your code, this bonus will reach 50 dollars. Likewise, by inviting 10 users, you will receive $80, 20 users $150, and 30 users $300! This staggered reward makes everyone do their best to attract more people to the Fluxcart, which is also seen in pyramid projects. In addition to the tiered rewards, Fluxcart claims to give $8 to the referrer for the initial $100 deposit made by each invited user.
All these things and seductive promises show that Fluxcart is very similar to Ponzi and pyramid schemes. These schemes ultimately lead to huge financial losses for many people and therefore should be avoided.
Frequently asked questions(FAQ)
What is a Fluxcart?
Fluxcart has introduced itself as an e-commerce platform that claims to help sellers’ products be seen on various online stores such as Amazon. This platform asks users to help the visibility of their products by making fake and fake purchases from sellers and get dollar profit in return.
Is Fluxcart legal?
No Fluxcart claims to be registered as a trading company in London, but there is no specific documentation regarding it. The identity of the manager of this project is not known except for a name.
Is Fluxcart a Ponzi and Pyramid Scheme?
All the evidence, including the unclear identity of the creators of Fluxcart, unclear documents from this company, its focus on the referral system, the promise of huge profits without doing any real and economic activities, etc., all point to the Ponzi and pyramid scheme of Fluxcart.
