Streakk has been identified as a risky opportunity by Intelligence Commissioner users. It is similar to Earn World. We’ve received over 6 complaints against Streakk.
Streakk appears to be a potential MLM crypto Ponzi scheme, disguising its true nature behind cryptocurrency jargon such as “staking” and “annual yield.” The background of founder Suki Chen, the inconsistency in Streakk’s launch dates, and the company’s registration status in major nations all raise concerns. The strange behaviors of the STKK token, as well as the lack of regulatory control, raise additional worries. Because Streakk operates without formal permits, investors incur increased risks, emphasizing the significance of conducting due diligence before dealing with such businesses. Scam indications, such as the lack of real reviews and inattentive customer service, raise suspicions of fake activity. Caution is required to avoid potential financial losses.
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Key Takeaways
Is Streakk Regulated? Do They Have a License?
Suki Chen, also mentioned as Sukijami Chendrawan, is the founder and chief executive officer of the cryptocurrency venture Streakk. It has been reported that he is a citizen of Indonesia. Chen, whose Streakk profile describes him as a “seasoned entrepreneur with a proven track record,” maintains a LinkedIn page detailing his experience in early education and life insurance.
After a brief managerial tenure at Odem, he undertook several unsuccessful blockchain initiatives prior to late 2018, when he presumably reinvented himself as a blockchain entrepreneur.
Chen’s LinkedIn profile indicates that Streakk will debut in 2019. Nevertheless, this claim is in opposition to the evidence that Streakk’s website domain was solely registered on May 21, 2022, which would indicate the non-existence of the organization before that time.
Chen affirms that Streakk is headquartered in Dubai; however, the absence of explicit details regarding the company’s tangible presence in Singapore gives rise to apprehensions, given that Streakk’s website provides contact details for an office located in Singapore.
It is noteworthy that Dubai is often labeled the global capital of MLM (multi-level marketing) criminal activity, which should give rise to immediate apprehensions and warning signs whenever an MLM organization asserts affiliation with or conducts business in the area.
The lack of regulation or the presence of poor regulation is a huge red flag. It means Streakk 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 Streakk, 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 Streakk
Streakk does not provide any retail-ready tangible goods or services; affiliates are solely responsible for endorsing the Streakk affiliate membership.
Streakk’s Compensation Structure Substantially promised returns on cryptocurrency investments are incorporated into the affiliates’ compensation plan. Annual returns that are advertised are as follows:
- Investing in bitcoin will yield an annual return of 7%.
- Investing in ethereum will yield an annual return of 10%.
- Investing in tether will yield an annual return of 14%.
- Invest in Binance Coin and earn 15% on an annual basis.
- Invest in cardano and earn 15% on an annual basis.
- Investing in polkadot will yield an annual return of 16%.
- Invest in STKK (the proprietary token of Straekk) and earn 20% annually.
- Invest in MATIC and earn an annual return of 15%.
Streakk promotes annual return rates, but it is important to realize that these returns are disbursed weekly.
Streakk’s promotional materials show a minimum investment threshold of $100 USD equivalent in all cryptocurrencies, implying that the maximum investment amount is likely limited to $200,000 USD.
In addition to direct bitcoin investments, Streakk affiliates can invest in node positions that generate diverse rewards.
- Shared Node: Offer a weekly return of 2% in STKK tokens in exchange for a $100 or more investment over seven years.
- Dedicated Node: Provide a weekly 5% return in the form of STKK tokens in exchange for deposits of $5000 or more over a seven-year period.
- Dedicated Node Pro: Provides a weekly return of 8% in the form of STKK tokens for investments of $25,000 or more over a six-year period.
Streakk Affiliate Ranks
The compensation structure of Streakk consists of a total of fifteen affiliate ranks, with distinct qualification criteria associated with each rank. The positions and the corresponding prerequisites are delineated as follows:
- Affiliate: Register with Streakk as an affiliate.
- Jade: Advocate for a minimum investment of $2,000 in cryptocurrency from others.
- Pearl – Persuade individuals to allocate a minimum of $5,000 into cryptocurrencies.
- Sapphire – Advocate for a minimum $10,000 investment in cryptocurrency from others.
- Sapphire 25: Advocate for a minimum $25,000 investment in cryptocurrency from others.
- Ruby – Advocate for a minimum investment of $50,000 in cryptocurrency from others.
- Emerald – Advocate for a minimum investment of $100,000 in cryptocurrency from others.
- Diamond – Persuade parties to make a minimum cryptocurrency investment of $250,000.
- Double Diamond – Advocate for a minimum investment of $500,000 in cryptocurrency from others.
- Triple Diamond – Promote a minimum $1,000,000 cryptocurrency investment among others.
- Crown Diamond – Persuade parties to make a minimum cryptocurrency investment of $2,000,000.
- Royal Crown Diamond – Persuade individuals to give a minimum investment of $5,000,000 in cryptocurrencies.
- Vice President—Persuade individuals to allocate a minimum of $10,000,000 towards cryptocurrency investments.
- Sway the opinions of senior vice presidents to support a minimum $30,000,000 cryptocurrency investment.
- Recommend to the world’s president that a minimum of $50,000,000 be invested in cryptocurrencies.
Please be informed that for each recruitment segment, a maximum of 40% of the required cryptocurrency investment is taken into account (for a unilevel explanation, see “Referral Commissions” below).
It appears that Streakk affiliate membership is available for no cost.
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.
Streakk 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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Streakk 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 Streakk 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 Streakk 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 Streakk, chances are, you wouldn’t find many legitimate reviews.
Another prominent way scammers like Streakk enhance their credibility is by burying negative reviews and complaints under a lot of fake reviews.
This way, when you’ll look up “Streakk reviews”, you might not find many complaints. Or, you might find them buried within numerous reviews praising Streakk.
You should always look out for consumer complaints. In the case of Streakk, 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 Streakk? You can share your complaint in the comment section or submit an anonymous tip.
Is Streakk Legit Or Scam?
Streakk appears to be another MLM cryptocurrency Ponzi fraud, skillfully disguised as “staking” and “annual yield” marketing. The use of such crypto language only serves to hide what is fundamentally an investment racket.
Streakk’s business plan, which promises huge profits, raises issues because it is similar to the characteristics of a securities offering. This requires registration with financial regulators, which Streakk does not appear to have taken.
When examining the website’s traffic, it is worth noting that Streakk receives the majority of its visitors from France, Spain, Germany and Italy. However, Streakk is not registered to offer securities in any of these regions, signaling a potential breach of securities regulations and, at the very least, participation in securities fraud. This is consistent with the normal conduct of MLM firms that participate in Ponzi schemes, in which freshly invested funds are recycled to pay old investors.
The STKK token, also known as a BEP-20 token, raises further red flags. Its on-demand creation enables Streakk to maintain exaggerated returns and essentially create wealth out of nothing. The token’s fluctuating market value, particularly during instances of pump-and-dump actions, raises suspicions about Streakk’s operations.
Streakk 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 Streakk 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 Streakk?
All the evidence suggests that Streakk 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
Is Streakk a scam?
Can I withdraw money from Streakk?
Where is Streakk Located?
How do I get my money back from Streakk?
How The Streakk Online Scam Works
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