My BlockX is a continuation of the stock scam that My Blockchain Life started.
The last time we looked at My Blockchain Life, they said that a BlockX Trading AI bot opportunity had just begun.
After the article was published, some angry US BLKX bagholders commented on it, but as a business opportunity, My BlockX was dead.
That changed when someone in My BlockX found a way into Colombia a few months ago.
Glenn Williams was in charge of My Blockchain Life at first.
Williams spent most of 2020 and 2021 posting memes on Facebook that were against vaccines. In October 2021, he died of COVID-19.
My BlockX is still being run by someone, and Jeremy Sowerby’s name keeps coming up.
I haven’t been able to confirm for myself that Sowerby owns My BlockX.
Sowerby (on the right) keeps a low profile if he is in charge of My BlockX. Since he has a long history of MLM crypto fraud, this makes sense.
Sowerby is best known as the boss of Dunamis Mining, which he owns.
Dunamis Mining was a “mining”-themed MLM Ponzi scheme that started in early 2019.
A few months after launching, Sowerby put BitClub Network scammer Joe Abel in charge and changed the company’s name to Dunamis Global Tech.
By the end of 2019, Dunamis Global Tech was no longer in business. Sowerby gave Travis Bott’s Onyx Lifestyle Ponzi the list of affiliate investors.
A few months later, in the middle of 2020, My Blockchain Life came out. I think Sowerby is keeping a low profile because he is close to Joe Abel.
In a nutshell, what My BlockX is selling is a two-tiered securities fraud: a staking investment scheme and an auto trading bot.
Affiliates of My BlockX put at least $2500 worth of bitcoin into BLKX tokens as part of the staking investment plan.
My BlockX made BLKX, an ERC-20 token that has no value. You can make ERC-20 tokens in a few minutes for little or no cost.
Once BLKX tokens are bought, they are stored with My BlockX, which promises a return of up to 42% per year:
Returns are paid in BLKX, which My BlockX offers to change to “another crypto.”
On the back end, all My BlockX does to cover these withdrawal requests is reuse crypto that was already invested. So, the Ponzi scheme happened.
“Limitless Trading Engine” is what My BlockX calls its automated trading bot system.
My BlockX affiliates have to put at least $2500 into the staking investment scheme before they can use the Limitless Trading Engine.
My BlockX promises an extra 580% return on investment each year through the Limitless Trading Engine:
Limitless Trading Engine is just another trading bot scam, like the ones used by every MLM crypto Ponzi:
Our AI uses its own automated software to find buy and sell opportunities in the market that humans couldn’t possibly take advantage of.
The Limitless engine automatically makes the right moves at the right times, with the right amounts, and using the right assets, so you don’t have to think about it.
Instead of registering with financial regulators and submitting the legally required audited financial reports, My BlockX offers this nonsense:
In addition to locking up $2500 in BLKX staking, My BlockX charges up to $9,997 per year for access to the Limitless Trading Engine:
Starter Plan: $2,497 per year, with a maximum trading account of $10,000
plan for growth: $4,997 a year, a trading account cap of $50,000, and “increased profit.”
Unlimited Plan: $9997 per year, no limit on the number of trading accounts, and “maximizes profits.”
You know the routine: “But they can’t touch our money!” (– The Bot blows up or “technical problems” – I’m sorry for your loss.
My BlockX doesn’t tell you anything about their MLM opportunity, which is something they don’t do. I think they’re still using the old My Blockchain Life compensation plan, with a few changes for BLKX investment and trading bot fees.
In any case, My BlockX is, at the very least, breaking the law. MLM and stock fraud work well with Ponzi schemes.
This is also shown by the fact that My BlockX has no external source of money that can be checked and used to pay withdrawals.
Up until a few months ago, My BlockX was pretty much dead after scamming mostly US investors.
SimilarWeb says that 95% of the traffic to My BlockX’s website now comes from Colombia, and that number is growing.
In terms of money flow, this is My BlockX’s US BLKX bagholders selling to new gullible Colombian investors.
My BlockX is a part of two fraudulent investment schemes that work as an internal exchange, which is how these BLKX transfers happen.
Colombia has become a hot spot for securities fraud related to MLMs in 2022. It looks like the government has given up trying to control Ponzi schemes, which are usually run from other countries.
When it came to My BlockX, both Glen Williams and Jeremie Sowerby lived in Canada.