Öffentliche Betrugswarnung – Verbraucherwarnung!

Airbit Club

Airbit Club - Warnung SEC Philippines - 2018-Sep-04



ENFORCEMENT AND INVESTOR PROTECTION DEPARTMENT

ADVISORY ON AIRBIT CLUB

The Securities and Exchange Commission has received information that
individuals or group of persons representing AIRBIT CLUB and its marketing affiliate,
GO88 VENTURES, INC., are offering online investments to the public.

Per records of the Securities and Exchange Commission ("Commission"),
AIRBIT CLUB is not registered as a corporation or partnership and is not authorized
to solicit investments from the public as the above-mentioned entity did not secure prior
registration and/or license to solicit investment from the Commission as prescribed
under Section 8 of the Securities Regulation Code.

On the other hand, GO88 VENTURES is registered with the Commission as a
corporation with the primary purpose of engaging in other wholesale business.
However, it has no registration/permit to offer or sell securities.

Based on information gathered by the Commission, AIRBIT CLUB and GO88
VENTURES, INC. entice the public to invest by offering online subscription packages
which allegedly allow an investor to earn passive income through regular daily rewards,
or active income through recruitment of downlines. The entire investment scheme is
described in detail as follows:

1. The investor is required to create an AirBitClub account in their website:
https://www.bitbackoffice.com/sign_up/(username of offeror);
2. The investor will then be asked to choose from different subscription packages
with the following corresponding benefits and entitlements:

*Volume pertains to the points earned and used for computing referral credits
**One (1) cycle pertains to a single cryptocurrency cloud-mining contract
equivalent to seventy-five (75) business days where daily rewards may be earned.
Business days excludes Saturdays and Sundays.
***The Renewal Fee is equivalent to thirty-five percent (35%) of the total
aggregate rewards received during the previous mining contract;
3. The company claims that the subscription fee will be used by the company as
follows:
a. Fifty percent (50%) of the fee will be shared to affiliates; and
b. The other fifty percent (50%) of the fee will be used to acquire
cryptocurrency mining equipment and software;
4. After the investor selects the subscription package of his choice, he will then be
asked to submit his information in the user verification page of the website;
5. The system will then create a bitcoin wallet for the investor and will show the
amount of bitcoin that needs to be sent to complete the registration;
6. The investor will then be required to send the specified amount of bitcoins from
his external bitcoin wallet, usually from Coins.ph, to his AIRBIT CLUB bitcoin
wallet. The amount of bitcoin sent will then be reflected in his AIRBIT CLUB
bitcoin wallet which shall then be debited to pay his subscription fee;
7. Upon completion of the registration and payment of the subscription fee, the
investor will be given three (3) wallets in his AIRBIT CLUB account, to wit:
a. Cash Wallet – everytime bitcoins are sent from an external bitcoin wallet
to AIRBIT CLUB bitcoin wallet, the amount is reflected in this wallet;
b. Commission Wallet – this wallet is maintained is for the reception of the
following commissions:
i. Fast Start Direct Sponsorship Bonus;
ii. Forced Matrix Dynamic Compression Indirect Sponsorship Bonus;
iii. Binary Matching Bonus; and
iv. Forced Matrix Dynamic Compression Retirement Plan; and
c. Rewards wallet – for the reception of daily rewards from the program
every qualified business day.
8. Based on the Department’s investigation, an investor can earn as follows:
a. Passive Income
i. Daily Rewards – the daily rewards are profits earned from the
bitcoin trading and mining conducted by AirBitClub. These daily
rewards are projected as follows:
1. Executive – USD0.50 to 3.00 per business day
2. Corporate – USD2.00 to 6.00 per business day
3. Pro – USD5.00 to 12.00 per business day
4. Silver – USD60.00 to 90.00 per business day
5. Gold – USD120.00 to 190.00 per business day
6. Platinum – USD 240.00 to 380 per business day
b. Active Income
i. Fast Start Direct Sponsorship Bonus – an AirBitClub member who
successfully recruits another individual (registration and payment
of subscription fee) shall be entitled to receive twenty percent
(20%) of the said fee.
ii. Forced Matrix Dynamic Compression Indirect Sponsorship Bonus
– this represents the incentive earned by an AirBitClub member by
recruiting three people either directly or indirectly under the
following rules:
1. The first level recruits pertain to investors directly recruited;
2. The second level recruits pertain to the investors recruited by
first level recruits
3. The third level recruits pertain to the investors recruited by
the second level recruits, and so on.
4. Executive members are entitled to receive this bonus up to
the fifth level (5th) recruits;
5. Corporate members are entitled to receive this bonus up to
his ninth (9th) level recruits: and
6. Pro members are entitled to receive this bonus up to his
eighteenth (18th) level recruits.
iii. Binary Matching Bonus - this represents the incentive earned by an
AIRBIT CLUB member by earning equal recruitment points on
the left and right side of his recruitment pyramid. For every 200
points matched on both sides of the pyramid, the AirBitClub
member is entitled to receive USD20.00.
iii. Forced Matrix Dynamic Compression Retirement Plan - this
represents the incentive earned by an AIRBIT CLUB member by
recruiting beyond the original eighteen levels (allocated for the
Forced Matrix Dynamic Compression Indirect Sponsorship) an
additional three people either directly or indirectly under the
following rules:
1. The actual nineteenth (19th) level of recruits shall be treated
as the first level recruits for the purpose of computing this
incentive;
2. For Executive members:
a. completing the first to fifth level shall entitle the
AirBitClub member to USD0.99 per level;
b. completing the sixth to ninth level shall entitle the
AirBitClub member to USD0.27 per level;
c. completing the tenth to thirty-sixth level shall entitle
the AirBitClub member to USD0.27 per level;
3. For Corporate members:
a. completing the first to ninth level shall entitle the
AirBitClub member to USD1.80 per level;
b. completing the tenth to thirty-sixth level shall entitle
the AirBitClub member to USD0.90 per level;
4. For Pro members:
a. completing the first to eighteenth level shall entitle
the AirBitClub member to USD2.70 per level;
b. completing the nineteenth to thirty-sixth level shall
entitle the AirBitClub member to USD1.26 per level;
c. completing the thirty-seventh to sixty-third level shall
entitle the AirBitClub member to USD0.90 per level;
5. For Silver members:
a. completing the first to eighteenth level shall entitle
the AirBitClub member to USD8.10 per level;
b. completing the nineteenth to thirty-sixth level shall
entitle the AirBitClub member to USD3.78 per level;
c. completing the thirty-seventh to sixty-third level shall
entitle the AirBitClub member to USD1.80 per level;
6. For Gold members:
a. completing the first to eighteenth level shall entitle
the AirBitClub member to USD24.30 per level;
b. completing the nineteenth to thirty-sixth level shall
entitle the AirBitClub member to USD11.34 per level;
c. completing the thirty-seventh to sixty-third level shall
entitle the AirBitClub member to USD3.60 per level;
7. For Platinum members:
a. completing the first to eighteenth level shall entitle
the AirBitClub member to USD48.60 per level;
b. completing the nineteenth to thirty-sixth level shall
entitle the AirBitClub member to USD22.68 per level;
c. completing the thirty-seventh to sixty-third level shall
entitle the AirBitClub member to USD7.20 per level;
In summary, the entire Forced Matrix Dynamic Compression
Retirement Plan can be simplified as follows:
Under the SRC’s Amended Implementing Rules and Regulations of 2015,
specifically Rule 26.3.5, par. 4, an investment contract has been defined as a
contract, transaction or scheme (collectively "contract"), whereby a person invests his
money in a common enterprise and is led to expect profits primarily from the efforts of
others.
Applying the Howey Test, as discussed by the Honorable Supreme Court in
Power Homes Unlimited vs. SEC (G.R. No. 164182, February 26, 2008), AIRBIT
CLUB subscriptions are investment contracts because the following requisites concur:
1. Investment of Money
As a rule, the term "investment of money" is not limited to cash
contributions but includes investment in the form of ‘goods and services’ or some
other ‘exchange of value’. AIRBIT CLUB subscriptions, though purchased using
cryptocurrencies, are considered as funded with the collective term "money";
2. In a Common Enterprise
AIRBIT CLUB investors who subscribe to investment packages are
deemed investing in a common enterprise who commits to allegedly engage in
cryptocurrency mining and divide the profits with all the subscribers using the
above-illustrated approach.
3. With the Expectation of Profits
The sole motivating force in purchasing AIRBIT CLUB subscriptions is
the promise of profits as detailed above. Under these subscription contracts, an
investor is entitled to receive passive income from daily rewards and active
income from recruitment rewards.
4. Primarily from the Efforts of Others
An AIRBIT CLUB subscriber need not exert any effort other than to pay
the subscription fees in the form of Bitcoin. His sole participation is to contribute
funds so that it may be used as trading capital by the company.

Undoubtedly, an AIRBIT CLUB subscription, being a CLOUD-MINING
CONTRACT as described in the Commission’s 10 April 2018 Advisory
captioned "ADVISORY ON CLOUD-MINING CONTRACTS", is an investment
contract falling within the purview of the term "securities" as defined by
law.

Since this scheme involves the sale of securities to the public, the SRC requires
that the said securities offered are duly registered and that the appropriate license
and/or permit to sell securities to the public are issued to the corporation and/or its
agents, pursuant to the provisions of Section 8 of the SRC.

Likewise, those who act as salesmen, brokers, dealers or agents of these
companies in selling or convincing people to invest in the investment scheme being
offered by these cryptocurrency mining companies including solicitations and
recruitment through the internet may likewise be prosecuted and held criminally liable
under Section 28 of the Securities Regulation Code and penalized with a maximum
fine of Five Million pesos (P5,000,000.00) or penalty of twenty-one (21)
years of imprisonment or both pursuant to Section 73 of the SRC.

Accordingly, those who invite or recruit other people to join or invest in this
venture or offer investment contracts or securities to the public may be held criminally
liable or accordingly sanctioned or penalized in accordance with the Supreme Court
decision in the case of SEC vs. Oudine Santos (G.R. No. 195542, March 19, 2014).

Furthermore, the names of all those involved will be reported to the Bureau of
Internal Revenue (BIR) so that the appropriate penalties and/or taxes be
correspondingly assessed.

In view thereof, the public is hereby advised to exercise caution before investing
in these kinds of activities and to take the necessary precaution in dealing with AIRBIT
CLUB, GO88 VENTURES, INC. or its representatives.

Information as to whether these securities are registered or not may be sought
from the SEC’s Corporate Governance and Finance Department, or Market and
Securities Regulation Department through telephone numbers 818-6103 and 818-5703
respectively.

The Commission urges anyone who has knowledge or information about any
business transaction involving these securities or investment opportunities to report
such activity so that appropriate actions could be taken through the Enforcement and
Investor Protection Department at (02)818-6337 or (02)818-6047 or email us at
epd@sec.gov.ph.

For the guidance of the public.

4 September 2018.


2019-01-14, Public warning by CNMV Spain against Airbit Club:

CNMV ISSUES WARNING TO THE PUBLIC ON UNREGISTERED FIRM

Pursuant to the second paragraph of Article 17 of the Securities Markets Law (recast text approved by
Royal Legislative Decree 4/2015, of 23 October), the Comisión Nacional del Mercado de Valores (National
Securities Market Commission) warns that:

AIRBIT CLUB
www.airbitclub.com
www.bitbackoffice.com
http://airbitclubmundial.com.co
https://bitcoin-airbitclub.business.blog

is not authorised to provide the investment services detailed in Article 140 of the Securities Markets
Law, which include investment advice, or to provide the auxiliary services detailed in letters a), b), d),
f) and g) of Article 141 of the said Law in relation to the financial instruments detailed in Article 2 of the
said Law, including, for those purposes, foreign currency transactions; and is not authorised to perform
the activities reserved for collective investment institutions detailed in paragraph 1 of Article 1 of Law
35/2003, of 4th November, on Collective Investment Institutions.

For any enquiries, please contact the Comisión Nacional del Mercado de Valores enquiry line on
900 535 015 or visit CNMV’s website (www.cnmv.es).

14 January 2019.


2020-03-30, Public warning by Consob Italy against Dubai FXM Ltd (www.dubaifxm.co e URL dubaifxm.co) - "DAX1001" (dax1001.com) - Global Pegasus Ltd (www.fx4lux.com) - "AirBit Club" (https://airbitclub.com e www.bitbackoffice.com):

Consob warning on
Dubai FXM Ltd (www.dubaifxm.co e URL dubaifxm.co) - "DAX1001" (dax1001.com) - Global Pegasus Ltd (www.fx4lux.com) - "AirBit Club" (https://airbitclub.com e www.bitbackoffice.com)

Consob has ordered the black-out of 6 new websites that abusively offer financial services/financial products: 4 abusive financial intermediation sites and 2 sites through which financial products are offered without a prospectus.

The Authority availed itself of the powers deriving from the "growth decree" (Law no. 58 of 28 June 2019, article 36, paragraph 2-terdecies) regarding the blackout of the sites of abusive financial intermediaries, as well as the new power introduced by Law no. 8 of 28 February 2020 (article 4, paragraph 3-bis), regarding the blackout of the site through which the abusive offer is made.

Below are the sites Consob has ordered to be blacked out:

Dubai FXM Ltd (website www.dubaifxm.co and URL dubaifxm.co);
"DAX1001" (website dax1001.com);
Global Pegasus Ltd (website www.fx4lux.com);
"AirBit Club" (websites https://airbitclub.com and www.bitbackoffice.com).
The number of sites blacked out since July last, when Consob got the power to order that the websites of fraudulent financial intermediaries be blacked out, has thus risen to 180.

The measures adopted by Consob can be consulted on the website www.consob.it.

The black-out of these we
sites by internet service providers operating on Italian territory is ongoing. For technical reasons, it can take several days for the black-out to come into effect.

Consob draws investors' attention to the importance of adopting the greatest diligence in order to make informed investment choices, adopting common sense behaviours, essential to safeguard their savings: these include, for websites that offer financial services, checking in advance that the operator with whom they are investing is authorised, and, for offers of financial products, that a prospectus has been published.

To this end, Consob would remind you that there is a section on the homepage of its website www.consob.it entitled "Be aware of fraud!", providing useful information to warn investors against financially abusive initiatives.

* * *

Consob has also suspended for 90 days the offer to the public resident in Italy of investments of a financial nature made by "AirBit Club", and through the websites https://airbitclub.com and www.bitbackoffice.com, pursuant to Article 99, paragraph 1 b), of the Consolidated Law on Finance (Resolution no. 21309 of 25 March 2020).

* * *

Order, pursuant to art. 7-octies, letter b) of Italian Legislative Decree no. 58 of February 24, 1998 (Consolidated Law on Finance) to cease infringement of art. 18 of the TUF, put in place by:

Dubai FXM Ltd through the websites www.dubaifxm.co and URL dubaifxm.co (Resolution no. 21310 of 25 March 2020);
"DAX1001" through the website dax1001.com (Resolution no. 21311 of 25 March 2020);
GlobalPegasus Ltd through the website www.fx4lux.com (Resolution no. 21312 of 25 March 2020);
(Published in "Consob Informa" no. 12/2020 - 30 March 2020)


2020-06-29, Public warning by Consob Italy against AirBit Club:

"AirBit Club "

Consob has also suspended the offer to the public resident in Italy of investments of a financial nature made by "AirBit Club" and through the websites https://airbitclub.com and www.bitbackoffice.com pursuant to Article 99, paragraph 1 d), of the Consolidated Law on Finance (Resolution no. 21416 of 22 June 2020).

(Published in "Consob Informa" no. 25/2020 - 29 June 2020)