WeFi operates in the cryptocurrency MLM niche.

WeFi’s website address (“wefi.co”), was registered in January 2024. The private registration was last updated on November 30th, 2024.

WeFi does not provide a corporate address on its website. Instead, in barely legible text, WeFi’s website lists associated shell companies registered in various jurisdictions:

• WeFi Payments Limited, a Canadian shell company claimed to be “a registered money services business”
• 3-102-939581 S.R.L., a Costa Rica shell company
• Nordpal Holding Limited, a Hong Kong shell company

WeFi is also associated with WeChain, which it claims is part of the “WeFi ecosystem”.

WeChain operates from the website domain “wechain.ai”, registered in May 2024. WeChain’s private domain registration was last updated on April 2nd, 2025.

In the footer of WeChain’s website, again in barely legible text, we find reference to:

• AppAtlas Technologies LLC, a St Vincent and Grenadines shell company
• InfiniCore Tech LLC, a Saint Kitts and Nevis shell company

All but one of WeFi’s shell companies is registered in a dodgy jurisdiction (i.e. little to no MLM related regulation). This raises a red flag for what should be obvious reasons.

Heading up WeFi we have:

• Reeve Collins – Chairman and Board Member
• Maksym Sakharov – Board Member
• Roman Rossov – Board Member
• Yusuf Mirakhmedov – Board Member
• Khaled Suleiman – Board Member

Reeve Collins cites himself as the founder and former CEO of Tether. Tether launched in 2014 and created and operates USDT, a cryptocurrency bearing the same name.

Collins and the other co-founders sold tether to the cryptocurrency exchange Bitfinex in 2015. Since then, USDT has grown to become the most common cryptocurrency BehindMLM comes across in MLM related fraud.

As of September 2025, Tether’s USDT marketcap sits at $170.04 billion. Up until 2019, Tether falsely claimed on its website that

Every tether is always backed 1-to-1, by traditional currency held in our reserves. So 1 USDT is always equivalent to 1 USD.

Following legal action from the CFTC (2017) New York Attorney General’s Office (2019), Tether changed its USD backed claim to:

Tether Tokens are 100% backed by Tether’s Reserves

In October 2021, Tether paid a $41.6 million fine for lying about USDT being backed by USD.

To date, it is unknown what “Tether’s Reserves” is made up of or, more importantly, whether it comes anywhere near to backing USDT’s current $170 billion market cap.

Tether has consistently refused to let a third-party auditor verify its backing. This lends itself to suspicion Tether is one of the largest consumer-level financial frauds in history.

To be clear, beyond co-founding Tether, Reeve Collins hasn’t had anything to do with Tether’s fraud since 2015. I only point this out because Collins’ personal brand marketing seems to rely heavily on his co-founding of Tether.

WeFi is no exception.

Association with USDT is probably not something I’d want on my resume, but I digress.

Khaled Suleiman’s LinkedIn profile places him in Switzerland. Suleiman has a finance history so I’m assuming this makes him WeFi’s money guy.

Maksym Sakharov and Roman Rossov appear to be random Ukrainian crypto bros who are now based out of Dubai.

Yusuf Mirakhmedov, also based out of Dubai, is a wanted fugitive on the run from Macedonian authorities.

In 2015 Mirakhmedov (born in Uzbekistan as Јусуф Миракхмедов), was appointed Director of Ferronickel and CEO of Feni Industries. Both companies were then owned by Cunico Resources, which Mirakhmedov was also CEO of.

Around mid 2017, Macedonian authorities filed criminal charges against Mirakhmedov. Mirakhmedov was accused of misappropriating over $50 million.

The money, according to the investigators, was embezzled through organized crime by “Cunico Resource”, the company that also owns “Ferronickel” in Kosovo.

In October 2017, Macedonian authorities confirmed Mirakhmedov had fled Macedonia for Uzbekistan.

In 2019 it was confirmed Mirakhmedov was still wanted on an international arrest warrant.

Requested by order KO No. 28/19 from the Public Prosecutor’s Office – GOKK for investigation into the committed criminal offenses “Money laundering and other proceeds from criminal offenses” under Article 273 and “Abuse of official position and authority” under Article 353 of the Criminal Code.

In November 2017, the Financial Police Department filed a criminal complaint against Mirakhmedov, suspecting him of abuse of official position and authority.

Then, during the investigation, the Financial Police determined that Yusuf, the then director, illegally alienated reserves of ferronickel and other ore from the factory.

In December of the same year, the department filed a second criminal complaint against Mirakhmedov due to reasonable suspicion of abuse of official position and authority.

Mirakhmedov made an unfounded write-off of Feni’s untimely receivables, which is suspected of damaging the factory by 51,505,526 US dollars.

It appears at some point Mirakhmedov fled Uzbekistan for Dubai, where he reinvented himself as a crypto bro.

As opposed to the various jurisdictions shell companies have been registered in, WeFi appears to be based out of and operated from Dubai.

Due to the proliferation of scams and failure to enforce securities fraud regulation, BehindMLM ranks Dubai as the MLM crime capital of the world.

BehindMLM’s guidelines for Dubai are:

1. If someone lives in Dubai and approaches you about an MLM opportunity, they’re trying to scam you.
2. If an MLM company is based out of or represents it has ties to Dubai, it’s a scam.

If you want to know specifically how this applies to WeFi, read on for a full review. [Continue reading…]

MaoPay fails to provide ownership or executive information on its website.

MaoPay’s website domain (“maopay.ai”), was privately registered on April 4th, 2025.

On its website MaoPay provides a purported corporate address in Hong Kong.

The address corresponds to an office tower. It’s unclear whether this address has anything to do with MaoPay.

As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money. [Continue reading…]

What’s On The Menu fails to provide ownership or executive information on its website.

What’s On The Menu’s website domain (“whatsonthemenu.club”), was registered on March 11th, 2024. The private registration was last updated on January 9th, 2025.

A compensation marketing video embedded on What’s On The Menu’s website is hosted on a YouTube channel named “Darryl Miller”. Beyond promoter, I wasn’t able to establish Miller’s role within What’s On The Menu.

Back in July a BehindMLM reader claimed What’s On The Menu was “set up with Kent Brown and Ron Young”.

I was able to confirm Kent Brown is promoting What’s On the Menu on social media:

A FaceBook page for “what’s on the menu/club” cites a “ron” email address hosted on What’s On The Menu’s website domain:

I was also able to confirm “Ron” as a post author on What’s On the Menu’s website:

“Ron” appears to have an admin promoter account under the name “Steakhouse Delivery”.

Ron Young (right), aka Ronnie Young and Herman Ronnie Young, launched the Race Cycler MLM cycler Ponzi in 2014. Kent Brown was the face of the scheme.

After “discussions with SEC staff”, Young shut Race Cycler down in February 2015. In 2017 Young settled Race Cycler securities fraud charges with the SEC for $342,510.

As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money. [Continue reading…]

Hydromono fails to provide ownership or executive information on its website.

Hydromono’s website domain (“hyodromono.com”), was privately registered on June 25th, 2025.

On its website Hydromono provides an incomplete corporate address in Ust-Ilimsk, a town in Irkutsk Oblast, Russia.

In a marketing presentation linked to from Hydromono’s website, we find “Ivan Morozov” credited as Hydromono’s CEO:

Ivan Morozov doesn’t exist outside of Hydromono’s own marketing. Over on YouTube (note Hydromono doesn’t link its YouTube channel from its website), we find Morozov has an eastern-European accent.

This ties into Boris CEO schemes typically being run by eastern-European scammers (Russia, Ukraine and/or Belarus).

As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money. [Continue reading…]

UpCapital fails to provide ownership or executive information on its websites.

UpCapital operates from two known website domains:

1. upcapital.tech – privately registered on April 9th, 2025
2. upcapital.ai – registered in August 2024, private registration last updated on April 2nd, 2025

Further research reveals offsite UpCapital marketing material citing “Oscar Buhler” as UpCapital’s CEO:

Buhler doesn’t exist outside of UpCapital’s own marketing, making him a primary Boris CEO candidate.

Starting around three months ago, marketing videos featuring Jaime Morales were uploaded to the YouTube channel “Juan Smart”:

On June 20th a video was uploaded featuring UpCapital’s Oscar Buhler.

Buhler, or the actor playing Buhler, speaks in Spanish. This ties into SimilarWeb tracking 100% of UpCapital’s website traffic from Chile as of August 2025.

While Boris CEO schemes are typically run by eastern European scammers, it’s likely whoever is running UpCapital has ties to Chile and/or other Spanish speaking countries across Central and South America.

As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money. [Continue reading…]

Nine promoters of the Coinplex Ponzi scheme have been arrested in Poland. [Continue reading…]

HW Mall fails to provide ownership or executive information on any of its websites.

HW Mall operates from four known website domains:

• smartminingusdt.mom – privately registered on July 16th, 2025
• hw-mall.com – privately registered on July 17th, 2025
• hw-mall.vip – privately registered on July 17th, 2025
• hwusdt.com – privately registered on July 17th, 2025

HW Mall has already attracted the attention of financial regulators. The Central Bank of Russia issued a HW Mall pyramid fraud warning on September 9th, 2025.

As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money. [Continue reading…]

OmniWinAI fails to provide ownership or executive information on its website.

OmniWinAI’s website domain (“omniwinai.com”), was privately registered on May 24th, 2025.

As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money. [Continue reading…]

Omnisphere fails to provide ownership or executive information on its website.

Omnisphere’s website domain (“omnisphere.org”), was privately registered on December 3rd, 2024.

Over on FaceBook we find Omnisphere’s official group is managed from the Philippines:

This strongly suggests whoever is running Omnisphere has ties to the Philippines.

As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money. [Continue reading…]

E-Estate fails to provide verifiable ownership or executive information on its website.

E-Estate’s website domain (“e-estate.co”), was privately registered on September 9th, 2024.

While E-Estate does provide a list of corporate executives, none of them are real people:

Instead E-Estate’s co-founders, Brandon Stephenson and Mike Hamilton, appear to be robo-dubbed actors or AI-generated avatars.

For Brandon Stephenson, if we compare a September 6th E-Estate marketing video with one from April 9th, we find completely different AI-generated voices used.

I suspect this video evidence will disappear shortly after this review is published. I’ll leave an inline update here when that happens.

We can also observe the obvious use of AI in E-Estate marketing videos featuring serial promoters of MLM Ponzi schemes:

It’s also somewhat telling that E-Estate’s co-founders only feature in solo marketing videos. Surely by now they’d have made an appearance on these promoter videos?

To aid with deceiving consumers, E-Estate has created fictional digital footprints for its co-founders.

Brandon Stephenson only began posting on his FaceBook account on January 28th, 2024 – a few months after E-Estate’s website domain was created.

E-Estate represents “Brandon Stephenson” is founder of the Association of Real Digital Realtors.

The Association of Real Digital Realtors is set up on the website domain (“association-rdr.com”). The domain was first registered in 2020 but it’s private registration was only recently updated on March 31st, 2025.

Through the Wayback Machine we can see the Association of Real Digital Realtors’ domain was dormant until the current website was uploaded in or around February 2025.

The Association of Digital Realtor’s website PDFs (“terms and conditions” etc.), were created in December 2024.

This suggests the domain was acquired by the scammers running E-Estate sometime after E-Estate’s own website domain was registered a few months prior.

Despite only existing as a website for a few months, on its website the Association of Real Digital Realtor’s falsely represents it was created in 2020.

“Mike Hamilton” appears to be a US resident residing in Florida. Marketing videos shot by Hamilton on a cell phone are filmed with a horizontal reverse filter at the mouth of the Miami river:

Note the Aston Martin Residences are still under construction in the Google Maps section of the image above (circa 2020).

As an additional aside, you can clearly see the Mike Hamilton actor’s eyes reading a script in each video he features in.

Like Stephenson, E-Estate created/purchased a FaceBook profile for Mike Hamilton in December 2024.

We can see the two posts before this date, have been retrospectively added (probably in December 2024), as denoted by the clock symbol on both posts:

E-Estate represents Hamilton is owner of “Eli Property Company, Inc.”. A website has been set up for Eli Property Company on the domain “eliproperty.com”.

The domain was first registered in 1998 but its private registration was last updated on September 6th, 2024. This is three days prior to E-Estate’s own domain being registered.

Again through the Wayback Machine, we can see the Eli Property domain was for sale until purchase in late 2024.

In February 2025 The WayBack Machine captured what appears to be a hosting error:

As above, E-Estate’s scammers appear to have mistakenly uploaded the Association of Real Digital Realtor website content to the Eli Property domain.

The current Eli Property website domain went live sometime between late February and April 4th, 2025.

The Eli Property website PDFs were created on the same date as the Association of Digital Realtor website PDFs, suggesting it was a batch job.

Despite again only existing for a few months as a website, the E-State scammers falsely represent Eli Property “started” in 1970. Eli Property’s first website was purportedly “launched” in 1993. This is patently false.

While the actor playing “Mike Hamilton” appears to be a Florida resident, Boris CEO schemes are typically run by eastern European scammers (Russia, Ukraine and/or Belarus).

This could tie in to the use of an AI robodub to mask the accent of the Brandon Stephenson actor. It would also explain why Stephenson and Hamilton don’t make a joint appearance in the same room in any of E-Estate’s marketing videos.

One final red flag with E-Estate is the representation it is based out of Panama.

While it’s unlikely E-Estate has any actual ties to Panama, it should still be noted the country is a scam-friendly jurisdiction with lax regulation.

We’ll go over E-Estate’s regulatory compliance failings in the conclusion of this review.

As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money. [Continue reading…]