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Through the work of understanding the situation, the Ministry of Public Security determined that the MyAladdinz software (also known as the MyAladdinz App) had many signs of illegal capital mobilization and multi-level payment of rewards over the Internet.
Specifically, MyAladdinz provides a platform that allows booth owners (sellers) and customers (buyers) to connect with each other, in exchange for products and services through a “gem” system. ) and bonus points (points). The gems and bonus points from this application are used to purchase products and services from merchants in the MyAladdinz system.
Those who want to join and create an account on the app must have a referral. After creating an account and authenticating the account, customers can load gems (1 gem = $ 1) to the account (minimum first deposit is $ 100 equivalent to 100 gems).
Advertisers, users can also use gems to pay for electricity, water, tuition, insurance, living expenses, bank fees, buying a house, buying a car … in the future. ; and up to 80% of the invoice value can be refunded (exchanged for points in the system) when making a transaction; Pay more services in the application, more points will be refunded.
Based on the accumulated points of each client, the system promises that every day, the participants who log in to the application will be converted 0.2% points into gems, of which they continue to buy and real transactions. products in the application.
In addition, the system also asks participants to introduce others to join the system and enjoy the commissions. Specifically, if a person is called to join the MyAladdinz app, the app will pay the sender (called F1) 80% of the gem after shutting down. Participants can also enter stores in sales in the system. MyAladdinz divides the commission bonus by percentage and by level, up to 15 ranks.
Previously, the police of Ha Tinh and Binh Phuoc provinces also issued warnings about this type of illegal mobilization of capital. |
The Ministry of Public Security recommends that Vietnam not recognize any kind of cryptocurrencies and cryptocurrencies. MyAladdinz software was developed and developed by a target group called “Success Resources” as an e-commerce platform to earn points for participants, who took advantage of e-commerce activities (without a license). to mobilize capital and conduct business illegally at various levels.
This system mainly takes the money of the next participant to pay interest and commissions to the first participant and will collapse when the amount of this last participant is not enough to pay interest or there is no new participant.
MyAladdinz only pays interest to investors with virtual gems and virtual points; If you want to withdraw money, there is only one way to sell virtual gems and virtual points to other investors in the system. Therefore, individuals and investors will face many risks when participating in investing in the MyAladdinz mobilization package. Therefore, it is necessary to increase vigilance against similar types of activities; Consider carefully before deciding to participate in the investment on your own, to avoid taking advantage of the property grab …
According to the Ministry of Public Security, this agency will continue to fight and drastically handle commercial objects illegally at various levels. Organizations and individuals must be aware that this is a violation of criminal law, if they participate, they will be strictly punished according to the regulations.
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