Banqiro has been identified as a risky opportunity by Intelligence Commissioner users. It is similar to Singularity-360.com. We’ve received over 4 complaints against Banqiro.
Banqiro lacks transparency by concealing ownership information and is involved with questionable behavior. Banqiro is registered by Alex Reinhardt, and his problematic past with MLM crypto Ponzi schemes, including PlatinCoin and its reboots, raises worries about the company’s validity. Banqiro’s reliance on recruitment for profits, along with the lack of real items or services, suggests a classic Ponzi scheme. Investors are tempted by the promise of a 10% annual passive return on BNQ token investments. Caution is urged due to the unsustainable nature of Ponzi schemes, in which early participants profit at the expense of later investors.
Get Your Money Back From These Scammers!
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Key Takeaways
Is Banqiro Regulated? Do They Have a License?
In the world of cryptocurrencies, Banqiro stands out for its lack of openness, with no ownership or executive information disclosed on its website. Looking into its roots reveals a string of troubling developments, beginning with the private registration of its domain on May 9th, 2023.
The convoluted connection includes Alex Reinhardt, who was previously linked with MLM crypto Ponzi scams such as SwissCoin and PlatinCoin, raising concerns about Banqiro’s validity and requiring a closer look at its operations and affiliations.
The lack of regulation or the presence of poor regulation is a huge red flag. It means Banqiro 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 Banqiro, 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?
PLCUC met an abrupt end. This appeared to be the last of Alex Reinhardt’s involvement with MLM crypto Ponzi scams, until he reappeared with Ultima a few months ago.
The Platincoin tale serves as the foundation for Ultima, Reinhardt’s sixth Ponzi scheme. Banqiro, another enterprise on Reinhardt’s poor track record, coexists with Ultima.
Banqiro’s Offers:
Banqiro lacks tangible retail merchandise or services. Affiliates are restricted to promoting Banqiro’s affiliate membership.
Reinhardt established Banqiro’s official Twitter handle, “BNQTech,” in August 2023, followed by the establishment of the Telegram and YouTube profiles in September.
Banqiro now targets German speakers, promoting itself as a BNQ token presale set for April 2024. However, early investors in Reinhardt’s inner circle can already help promote Banqiro and BNQ via a “seed sale.”
Aside from Alex Reinhardt, individuals associated with Banqiro include Shahab Ganji:
Trading Conditions and Deposit/Withdrawal Methods at Banqiro
Banqiro affiliates invest USDT in BNQ tokens, tempted by the prospect of a 10% yearly passive return. The MLM component encourages recruitment.
Referral Commissions:
Banqiro’s referral commissions are structured as a unilevel system, with ten levels that compensate affiliates based on USDT spend.
- Level 1 (personally recruited): 10%.
Level 2: 4%. - Level 3: 3 percent.
- Levels 4 and 5: 2 percent
- Levels 6-8: 1%.
- Levels 9, 10: 0.5%
Banqiro contributes 5% of its investment to five bonus pools, each with specific qualification criteria.
- Pool 1: Generate 100,000 USDT in downline investment volume at 1%.
- Pool 2: Generate 250,000 USDT in downline investment volume (1%).
- Pool 3: Generate 500,000 USDT in downline investment volume at 1%.
- Pool 4: Generate 1,000,000 USDT in downline investment volume (1%).
- Pool 5: Generate 5,000,000 USDT in downline investment volume (1%).
Importantly, no single unilevel team leg can provide more than half of the minimum downline investment volume.
Membership and Participation:
The Banqiro affiliate membership costs 50 USDT. Full participation in the revenue potential demands extra investment in BNQ tokens, which are accessible to early promoters for 13 to 26.5 cents.
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.
Banqiro 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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Banqiro 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 Banqiro 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 Banqiro 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 Banqiro, chances are, you wouldn’t find many legitimate reviews.
Another prominent way scammers like Banqiro enhance their credibility is by burying negative reviews and complaints under a lot of fake reviews.
This way, when you’ll look up “Banqiro reviews”, you might not find many complaints. Or, you might find them buried within numerous reviews praising Banqiro.
You should always look out for consumer complaints. In the case of Banqiro, 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 Banqiro? You can share your complaint in the comment section or submit an anonymous tip.
Is Banqiro Legit Or Scam?
Banqiro, unlike the “Ultima” label, appears to be an outgrowth of Alex Reinhardt’s Ponzi schemes. The business revolves around BNQ, which is a BEP20 coin with no distinguishing features.
Banqiro uses a Ponzi scheme with a “staking” technique, promising players a “~10% a year” return on staked BNQ. The revenue stream is entirely dependent on new investments, prompting withdrawals from early investors looking to cash out before any downturns.
Banqiro 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 Banqiro 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 Banqiro?
All the evidence suggests that Banqiro 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 Banqiro 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. 
