MinerX fails to provide ownership or executive information on its website.
MinerX’s website domain (“minerx.tech”), was privately registered on May 16th, 2024.
MinerX’s official FaceBook page is managed from Thailand:
MinerX marketing places its purported headquarters in Phuket:
On October 1st, MinerX posted a video titled “MinerX Global Community Visit KL” on its YouTube channel.
The video includes a group of seemingly random individuals (possibly actors?) and features a person identified as “Dr. Jeffrey Gan Shang Yng.”
“Dr. Jeffrey” refers to Jeffrey Gan Shang Yng, whose specific role at MinerX is unclear, but he is presented as the public figurehead of the company.
In my investigation into Gan, I discovered connections to a Chinese crypto mining cartel operating in Texas. The situation is intricate, so bear with me as I explain it in detail.
In MinerX’s promotional content, Gan is depicted as an American citizen with links to both Malaysia and Singapore (click to enlarge).
In the past, Gan served as the main team leader and public figure for “Mama Captain,” a notorious scam project.
Bank Negara Malaysia Flags “Mama Captain” as a Scam
Bank Negara Malaysia has officially identified “Mama Captain” as a fraudulent company. The company has been exposed for running a large-scale scam, causing substantial financial losses to numerous investors.
The incident has drawn significant attention and raised alarms across various sectors. Authorities are urging the public to be cautious and vigilant when presented with investment opportunities that claim high returns with little risk.
Those affected are encouraged to report their experiences to support the ongoing investigations.
Four years ago Gan was the Chief Marketing Officer and face of “G-Power“ (unihash)
G-Power was run by these individuals…G-Power itself was a 300% smart-contract staking Ponzi built around “unig” tokens.
Today, neither G-Power or its “unig” tokens exist.
Gan also runs “Right Arms Project”, which he claims launched in 2018.
Right Arms Project, which is evidently up to version 3.0, operates from the domain “rightarms.io”. As opposed to 2018, Right Arms Project’s website domain was registered in January 2023.
Presently Right Arms Project’s website is nothing more than a signup/login form:
As far as I can tell, Right Arms Project is the culmination of Gan’s crypto Ponzi scamming over the years… now rolled into MinerX.
Connected to the Right Arms Project is an entity called “Assembly of Gods.” With a name that evokes a cult-like tone, Assembly of Gods seems to be a group of Gan’s Chinese investors.
The logo of Assembly of Gods was prominently displayed during a MinerX “kick-off” event in August 2024, which was organized for Chinese investors.
My investigation into the link between the Assembly of God and MinerX led me to Kewusuma, an MLM e-commerce retailer also involved in MLM crypto fraud.
MinerX partners with global mining farms, such as BitGood, to enhance their Bitcoin output without raising costs, sharing the additional profits generated.
The first thing visitors to BitGood’s website see is this:
We’ll get into why BitGood has a North American disclaimer on its website in the conclusion of this review.
What’s pertinent to the introduction of this review is BitGood is owned by a Chinese outfit going by Dbank.
Aside from being Chinese-owned and operated, I don’t have specific information on the ownership or management of Dbank and BitGood.
Neither Dbank nor BitGood seem to have direct interactions with the MLM crypto investment companies associated with them.
That’s handled by yet another company, PrymeBit:
On May 3rd, 2024, Finxfeed issued a press release designating PrymeBit as an “authorized partner” of BitGood.
PrymeBit, recognized as a notable project certified by the Finxeed Certification Program, plays a crucial role in external promotions and provides vital support to its partners.
As BitGood’s exclusive authorized partner, PrymeBit gains significant benefits from BitGood’s advanced mining technology and smart hash power pool services.
Finxeed, which positions itself as a “certifier,” is led by CEO Jaz Pee, also known as Wei Haw Pee or “Mr. JP.”
We will address Pee’s direct involvement in MinerX and the MLM crypto Ponzi scheme it mirrors in the conclusion of this review.
On Twitter, Pee refers to BitGood as a project of Finxeed, linking him to the ownership of BitGood, Dbank, and MinerX. However, this seems to be an attempt to conceal the true involvement of the notorious scammer, “Dato Seri Jeffrey Gan.”
The marketing videos on BitGood’s website feature Dbank’s/BitGood’s owners speaking Chinese, which ties back to Chinese scammers operating across Texas and Asia, including Malaysia and Thailand.
As always, if an MLM company is not transparent about who is running or owning it, take time to seriously consider whether it’s wise to join or invest any money.
Conclusion
MinerX and BitGood are running an MLM crypto Ponzi scheme, led by the notorious scammer Dato Seri Jeffrey Gan Shang Yng.
Authorities have issued a public alert regarding MinerX, a company recently uncovered for operating a multi-level marketing (MLM) Ponzi scheme within the cryptocurrency sector.