JokerX Review: How an NFT Ponzi by Michael Sander Defrauds Investors

JokerX is a token-based MLM pyramid scheme operated by a serial Ponzi artist, Michael Sander. Here’s our exclusive Joker X Review exposing the risks associated with the project.

Michael Sander is the brains behind this project and claims to be the real Big Boy Cash. After disabling the website, Michi Sander now uses social media platforms to lure investors to fund the project.

On various social media platforms, he claims JokerX belongs to him and is an ardent MLM Ponzi pusher. We have a vivid background and history of the man who has been involved in many MLM Ponzi schemes before.

About JokerX and the founder Michal (Michi) Sander

Obtainer Online was the first we heard of Michael after he released the publication website for MLM pyramid schemes. ViziNova was the first publication made that exposed Michi and Renato Rodriguez as Ponzi artists in the MLM world.

WCM777 was the second time we heard of the two with Michi the chief consultant to Renato’s majority MLM platforms. With collapse of ViziNova eminent, Sander distanced himself prior to the fallout in 2015.

2017 and the SEC charged Renato and others not before court with fraud. The SEC exposed the $5 million Ponzi scheme operated by Renato and his partners. After settling the SEC charges, they continued with their next stint, AirBit Club.

And this is where Renato and co were arrested and indicted of fraud charges, the year 2020. Bonafa was the next Sander-backed Ponzi scheme with the owners arrested by BaFIN in Koln, Germany.

OneCoin was the next scheme marketed by Sander which later collapsed in 2022. Sander later resurrected Big Boy Cash, an alias he’s been using since 2017. In May of 2022, Michael ‘Michi’ Sander paid Snoop Dogg an appearance fee in a music marketing video.

Sander is a resident of Las Vegas where various MLM schemes start out before devouring North America and Europe at large. He’s still on the run from BaFIN and the SEC. We believe JokerX is his ticket to retirement.

Affiliate and Referral Program JokerX

There’s a six-matrix affiliate program promising investors a chance to earn huge with the platform. What we’ve got instead is a platform failing to offer much in terms of authenticity. It’s clear the affiliate program is a ruse to get affiliates do all the heavy lifting.

The JokerX NFT is not even backed by any Blockchain network, with no transaction ID. In fact, we believe he’s selling mere JPEG formatted images to investors claiming they are NFTs used under his Joker X ecosystem.

And there’s a referral commission promising affiliates 10% commission of the overall deposit made by referred partners. With the next affiliate brought in getting a promise of making 100% matching commission.

So far, there’s been no such proof of any affiliate withdrawing or actually earning from the platform. Clearly, Michi devised a way to pull in investors without doing all the heavy lifting such as marketing and promotions.

And this is what makes JokerX an MLM pyramid scheme as well.

Is JokerX Legit or a High-Risk NFT?

There’s no doubt in our minds JokerX is a high-risk no-reward investment project. Those who end up depositing funds from the project will likely end up losing a large chunk of their investment.

Knowing how Michael Sander operates, once he hits the member targets, he’ll move to cancel the entire project. We can see the platform failing to offer much in terms of authenticity and credibility.

There’s no Blockchain backing this NFT which makes us question the entirety of the project. Without such important information laid out to the public, we see a platform claiming to offer such qualities.

Cons of JokerX

Before engaging with any platform, it’s imperative to weigh the pros and cons of each project. That gives you an idea of what to expect with the platform before signing up. Here are some of the cons we found under the hood of Joker X

A claim of consistent profit making with the affiliate program

Michael Sander is good at convincing investors that his project is a sure profit-making investment. There’s no need to sign up with platforms that fail to offer much in terms of authentic passive income.

The moment you get a platform claiming to guarantee profit margins, steer clear. These are false statements that are likely going to lure naïve investors. So far, there’s been no investor coming out with proof of withdrawing funds from the platform.

And this is where the platform fails to convince us of its profit-making stance. There’s no product or service sold on the platform that would help traders generate the listed guaranteed passive income.

A Complex commission-based structure

Having a six-matrix commission based structure is another reason to avoid being an affiliate member of JokerX. The platform offers a near-impossible target to meet as affiliate without the promise of actually withdrawing funds.

What we see instead is a skilled Ponzi artists deceiving affiliates and members alike to help push the project for free. We’ve seen this play out and affiliates end up paying the heavy price. Michael won’t face any backlash from the family and friends you invite to the platform.

Emphasizing more on recruitment Joker X

The platform emphasizes more on recruitment than any other form of revenue earning service. We see Michael pushing members to become affiliates as opposed to the actual NFT investment. And this is where the MLM aspect of Joker X comes to play.

Michael wants to get as many users to sign up before pulling the plug without allowing investors to get the best. We have a platform failing to offer much in terms of authenticity and transparency in the affiliate project.

The platform actually targets close family and friends aligned with your network. When things go astray, and they will do, the platform will most likely be the major issue. And that’s what we need to avoid even if we’re looking for passive income.

No retail product or service sold by JokerX to cover commissions

You’ve got to ask yourself where the platform plans to release funds in form of commissions. Where do they get the funds to cover affiliates? The question will make you realize there’s no retailable product or service.

And as such, those who invest and deposit funds on the platform are the ones enriching Michael. Once the deposit numbers dwindle down, so does the chances of survival for JokerX as an NFT project.

Customer Complaints and Ratings JokerX

JokerX is not your average NFT platform as it doesn’t offer realistic investment services. And as such, the platform’s ratings is below par with affiliates complaining of lack of withdrawals. The platform is using affiliates to get new members deposit funds.

Knowing how Michael operates, it’s time we steer clear of the platform. And this is why we’ve got to expose the platform or risk losing it all. Don’t think of investing with any of Michael Sander’s projects today or in the future.

Final Thoughts JokerX

Seeing how the platform is taking advantage of naïve investors, we have to warn our readers. Please stay away from JokerX as the founder is a known Ponzi artist.

The best way to earn passive income with crypto projects is going for established passive income projects.

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