Matrix scheme: Difference between revisions

Revision as of 17:08, 1 October 2019

Revision as of 03:59, 17 November 2019

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==History==

The first known matrix scheme is widely believed to be EZExpo.com, which started the popularity of matrix schemes in 2002.<ref name =msn1/> By 2003 more than 200 matrix schemes were in operation, including one which had the same owner as the payment processor Stormpay (TymGlobal). Subsequently, both TymGlobal and Stormpay were accused of running an illegal Ponzi scheme.<ref name = leaf>{{cite web | url = https://pixyrs.com/mlm-software-development.php| titlearchive-url = https://web.archive.org/web/20180210194900/http://www.pixyrs.com/mlm-software-development.php| businessurl-status = dead| accessdatearchive-date = 10 AugustFebruary 2006}}2018| {{Deadtitle link|date=October 2010mlm business |bot accessdate =H3llBot 10 August 2006}} </ref> Stormpay later claimed to be independent of TymGlobal, and they stopped accepting matrix schemes as customers. Although many have since ceased trading, some schemes are still known to be operating worldwide. The payment processor, Stormpay, is no longer trading.

==Operation==

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*[https://web.archive.org/web/20081030000647/http://www.thisislondon.co.uk/news/article-11783353-details/Warning+over+iPod+scam/article.do Warning over iPod scam] – [[London Evening Standard#Websites|This is London]]

*[https://www.wired.com/news/culture/0,1284,62226,00.html eBay scam uses iPods as bait] – [[Wired magazine|Wired]]

*[http://msnbcwww.msnnbcnews.com/id/3078976/ MSNBC article]

{{Scams and confidence tricks}}