369X has been identified as a risky opportunity by Intelligence Commissioner users. It is similar to Ultron Coin. We’ve received over 4 complaints against 369X.
MLM interest and criticism were ignited by 369X’s October 30, 2023 launch at a Mavie Global event in Budapest and its strategic connections with Ultron, a company notorious for Ponzi scheme activities led by CEO Michal Prazenica. Legitimacy and regulatory concerns are raised by the fact that 369X, led by CEO Francesco Porcu, intends to enter Central and South American markets via a Seychelles subsidiary company from Dubai. 369X’s VIBRA token payments, 12% annual return on investment, opaque, complex MLM structure, absence of specified products, and regulatory oversight should all arouse investor suspicion.
Get Your Money Back From These Scammers!
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Key Takeaways
Is 369X Regulated? Do They Have a License?
369X revealed its entry into the digital and MLM worlds when it registered its domain on October 30, 2023. Its official launch happened at a Mavie Global marketing event in Budapest, Romania, on January 20, 2024.
In addition to introducing 369X to the MLM community and possible investors, this launch also set the stage for its strategic relationships and the claims that followed.
A day before the launch, 369X posted on Instagram about its relationships with Mavie Global and Ultron, which seemed to point to a group-based strategy for operations. Both Mavie Global and Ultron are linked to Ponzi schemes run by CEO Michal Prazenica, which raises questions about 369X’s credibility and morality. Lead by CEO Francesco Porcu, 369X is trying to grow into Central and South American markets by using
Porcu’s extensive non-MLM financial knowledge and an Italian-strong executive team. There are, however, concerns about the company’s openness and long-term goals because they chose Dubai as their headquarters while using a Seychelles shell business.
The lack of regulation or the presence of poor regulation is a huge red flag. It means 369X is a scam and most likely, an illegal operation.
Companies offering investment services or opportunities without having a license can vanish without leaving a trace. Furthermore, the lack of a regulatory license allows them to get away with it and face no legal consequences.
That’s why it’s vital for you to always check a company’s regulation status as well as its license information. The presence of a license allows consumers to reach out to an authority if something goes wrong.
In the case of 369X, victims have nowhere to go due to the absence of a watchdog or license.
You should ask yourself the following questions when you come across a new investment firm or opportunity:
- Does the investment provider maintain transparency about its CEO?
- Do they have a license from a renowned regulatory authority?
- If the need arises, can I reach out to an authority to report this company as a scam?
Trading Conditions and Deposit/Withdrawal Methods at 369X
369X stands out because it doesn’t sell any goods or services that can be bought. Instead, it only markets its partner membership.
The way that 369X pays its employees is based on buying and investing VIBRA tokens, which were originally priced at 30 cents each with the idea that future investors would have to pay more. When these VIBRA tokens are bought, they are put back into 369X.
This guarantees investors a promised yearly percentage yield, with a maximum return on investment (ROI) of 12%. The 369T tokens are another type of digital asset in 369X’s digital ecosystem. They are said to be tied to the same annual ROI of 12%, but the details of how to acquire them have not been revealed.
Instead of being presented directly to possible investors, this pay plan is hidden behind the complicated world of multi-level marketing (MLM) schemes. Up to the sixth level of referrals, people who are part of the 369X program can earn a commission based on the tokens staked by people they’ve recommended. This arrangement of tiers for commissions shows that 369X has a one-level pay plan.
In the one-level method, an affiliate is at the top of their team, and every directly recruited affiliate is right below them. This makes up the first level. If these level 1 affiliates bring in more members, the new members become the second level below the original affiliate. This could go on forever as more people are recruited at higher levels.
In addition to these rewards for recruiting new members, 369X also rewards affiliates by giving them commissions when new buyers buy VIBRA tokens for the first time and when downline affiliates trade. To make this possible, 369X gives affiliates access to a private manual trading tool. This adds to the ways that people can make money within the 369X framework. The multifaceted compensation plan at the heart of 369X’s MLM approach is made up of direct investment returns and referral commissions with different levels.
Regulatory bodies immediately raise red flags about 369X’s operations, especially in places like the US and Canada that have strict laws against securities fraud because of its business model and connections. Ponzi schemes are easy to spot because they don’t register with financial authorities and depend on new investments to pay out profits.
However, it’s worth noting that many scammers disable their payment channels before shutting down their operations.
They might give you multiple reasons including:
- A technical error
- A glitch in their system
- Banking issues
- A “hacking attack”
And many others.
But in 9/10 cases, the scammers actually stop making payments and keep the money to themselves. Hence, the payment methods we discussed here might not work.
If you want to get your money back from a scammer, you’d need to file a chargeback.
369X Customer Service: Do They Handle Complaints Well?
When it comes to scammers, you should only measure the quality of their customer service if they respond to your complaint.
In the beginning, scammers tend to remain very accessible.
This means their representatives will keep calling you until you invest with them. Furthermore, they will act friendly and make it seem as if you’re one of their most valuable consumers.
However, they do all this just to win your trust.
Scammers understand that in order to convince someone to give them a large sum, they will need to seem like a friend.
Nevertheless, when you have invested a considerable amount of money and need to get it back, their customer support will become inaccessible.
All of a sudden, their numbers would either stop responding or become unavailable.
Still, they might remain accessible to convince you to invest further. Also, they might begin by making a few excuses regarding your payment.
However, in the end, the customer support won’t resolve your issues and become increasingly unavailable.
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369X Reviews: What Do Others Say?
It’s worth noting that many scammers tend to purchase fake reviews. Buying fake reviews has become extremely easy and it’s a multi-million dollar industry.
Scammers like 369X tend to purchase fake reviews for their online profiles to make themselves seem more credible.
TIME Magazine investigated the fake review industry and estimated it to be worth more than $150 million. Certainly, there are a ton of scammers who want to seem legitimate and a bunch of fake reviews is the most effective way to do so.
That’s why you shouldn’t trust 369X reviews easily.
It’s easy to identify fake reviews as well. You should look out for 5-star reviews that are posted by temporary accounts (profiles which only posted 1 or 2 reviews on the platform). Also, you should see if the positive reviews share any detailed information about their experience with the firm or not.
In the case of 369X, chances are, you wouldn’t find many legitimate reviews.
Another prominent way scammers like 369X enhance their credibility is by burying negative reviews and complaints under a lot of fake reviews.
This way, when you’ll look up “369X reviews”, you might not find many complaints. Or, you might find them buried within numerous reviews praising 369X.
You should always look out for consumer complaints. In the case of 369X, the most common complaints I found were about:
- Poor customer support
- Delays in payments
- High fees and charges
- Lack of transparency regarding their leadership team
- Aggressive sales staff
Do you have a similar complaint about 369X? You can share your complaint in the comment section or submit an anonymous tip.
Is 369X Legit Or Scam?
369X is run like a Ponzi scheme because of its connections, pay plans, and business methods, which put the financial well-being of its members at risk. History shows that when these kinds of plans eventually fail, most of the people who took part are left with worthless tokens.
369X is an unregulated entity. Although they might fall under the jurisdiction of a watchdog, they don’t have the license to offer financial services to consumers.
The lack of a license means they are not answerable to any regulatory authority. As a result, the people behind 369X can run away with your money without any prior notice. You should be extremely cautious when dealing with an unregulated service provider.
The absence of a watchdog also means you cannot report to them to anyone.
Also, due to the absence of specific regulations, there is no provision protecting you from the insolvency of this entity. If they go bankrupt, you won’t be able to do anything about it.
Can You Trust 369X?
All the evidence suggests that 369X is a scam. If you have lost money to them, there is still a chance you can get it back.
To recover your funds, you’d need to file a chargeback.
Frequently Asked Questions
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How The 369X Online Scam Works
Intelligence Commissioner investigates & reviews online money-making opportunities. We strive to provide critically helpful information to our readers and assist them in identifying scams. 
