Matrix scheme: Difference between revisions

Revision as of 06:28, 6 December 2018

Revision as of 09:01, 9 December 2018

Line 4:

==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 = http://www.theleafchroniclenadcab.com/apps/pbcs.dll/article?AID=/20060208/NEWS01/602080335/1002mlm | title = TheNadcab Leaf Chronicletechnology | accessdate = 109 AugustDecember 20062018}} {{Dead link|date=October 2010|bot=H3llBot}}</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==