Dacxi Review – Scam and Ponzi Scheme You Must Avoid

The following Dacxi review exposes the shady nature of this crypto venture and helps you understand why you should avoid trading with this company. 

Dacxi markets itself as an investment service. It sells its “Dacxi coin” to customers and even offers an exchange. However, the main reason why it gets victims to invest in its shady enterprise is the MLM section. 

There are numerous MLM scams operating in the industry and it isn’t surprising to find another one. However, unlike other MLM scams Dacxi focuses on the crypto industry and tries to entice crypto investors with the promise of affiliate commissions and ranking bonuses. 

This Dacxi review covers how this shady enterprise is marketing itself, how the company lacks proper authorization and why you should avoid investing with them. 

Dacxi Review: About the Company

According to their website, Dacxi is a pioneer in crypto and uses a safe and simple Crypto Wealth platform to give investors a professionally curated selection of digital assets. 

On paper, this sounds quite enticing. 

Many people may invest after hearing such a sales pitch. 

However, the company’s past is extremely sketchy and even right now, it is receiving multiple complaints for customers for its fishy business practices. 

The crypto firm entered the market in 2017. Even the domain registration was done in 2017. They claim that their focus is on providing investors with a user-friendly interface so they can build long-term wealth.

Dacxi offers customers multiple investment packages which it calls “bundles”. They are:

• Blue Chip Bundle
• Blue Ocean Bundle
• Precious Metals Bundle

Each bundle has a unique price point and claims to offer different results. Also, the company offers a custom individual coin selection bundle where you can invest in their chosen high growth potential coins. 

Shady Past of Dacxi Founder:

According to their website, the people behind this firm are: 

• Ian Lowe (Global CEO)
• Louis Lui (Global Head of Finance)
• Fernando Pacheco (Chief Product Officer)
• Ben McGann (Global Marketing Director)

Surprisingly, the company avoids mentioning the name of its founder on its website.

Why? 

Because the founder of Dacxi coin is Ed Ludbrook, a notorious MLM scammer behind the infamous OneCoin scam. 

OneCoin was a fraudulent cryptocurrency which caused billions of dollars of losses to millions of victims across the globe. In December 2022, its co-founders Ruja Ignatova and Karl Greenwood pleaded guilty to wire fraud and money laundering charges. 

The global scam of OneCoin was one of the largest international fraudulent schemes. Their promoters had claimed that OneCoin would be the ‘Bitcoin killer’. However, the crypto tokens were completely worthless.

Ed Ludbrook was one of the people responsible for promoting this fraudulent MLM scheme in Asia. He was the Chief Sales and Marketing Office, CLO and Asia Ambassador for the scam. 

Clearly, Ed has a lot of experience in promoting MLM scams. Maybe that’s the reason why he founded Dacxi? Probably. 

Dacxi Operates in the UK without an FCA License

While looking into the regulation of the firm for this Dacxi review, I noticed that the firm promotes itself heavily in the UK.

Moreover, the company claims to offer crypto investment bundles and recommendations on what you should invest in. Clearly, the services they offer would fall under ‘financial services’.

To offer financial or investment services in the UK, a firm needs to be registered with the Financial Conduct Authority. The FCA is the financial regulator of the UK and oversees the sector, similar to the SEC of the US.  

However, when you look up the FCA’s register for Dacxi or Dacxi coin, you wouldn’t find any entry. 

This is a huge red flag. 

It means Dacxi is offering unauthorized services in the UK and their offered products don’t fall under the protection of the FCA. 

Investing with unauthorized investment service providers is extremely dangerous. 

You should avoid trading with any such company. 

In fact, such lack of license can get the company banned in the country. 

Unlicensed companies tend to make outrageous claims and promise returns that are just not possible. However, they are able to get away with it because they run their operations without the supervision of the country’s financial regulator. While every investment carries some risk, you should avoid investing in any company that doesn’t have the necessary authorization and is operating illegally. 

If you’re a UK resident and have been scammed by Dacxi, you should report them to the FCA.

Dacxi Review: The MLM Structure of the Crypto Investment Firm

Although the company markets itself as a crypto investment firm, I found out while researching for this Dacxi review that they are actually a pyramid scheme. 

They require you to invest at least $100. 

While their crypto bundles let you invest in various popular cryptocurrencies, a major component of those bundles is DAC, the Dacxi crypto coin. Moreover, their own crypto coin has no value outside of the company. 

You can get referral commissions here by making other people join their affiliate network. 

They follow a unilevel compensation structure where the levels are based on who personally recruits who. For example, the people you recruit personally would fall in the 1st level while the people recruited by them would be on the 2nd level. 

Dacxi only pays referral bonuses for 2 levels of recruitment. 

Moreover, you can get 10% commission on the investment amount of your personally recruited affiliates. Similarly, Dacxi offers 2.5% commission on level 2 affiliates’ investments. 

Also, if the people you recruit only invest in DAC, you will get a higher percentage of commissions. For such investments, your level 1 recruits would get you 20% commission while level 2 recruits will help you get 5% commission.

However, the commissions are paid out in Dacxi crypto coins only. This can be problematic if you wish to use those funds for anything except buying more of their coins. 

Another way the company entices people to invest in their crypto coin is through their hold bonus. 

Affiliates who invest $1000 or more in their bundles and hold it for 180 days without making any withdrawals can get a 50% Dacxi coin bonus. 

Surely, the company discourages withdrawals and tries to get people to invest as much money with them as possible. 

Seeing the shady history of their founder, I can easily say that it’s just another MLM scam. 

Dacxi Reviews by Customers: Not a Pretty Picture

Apart from the criminal past of its founder and the shady policies of the company, there’s another red flag in Dacxi. 

The company has received a ton of complaints from its investors. 

In this section of my Dacxi review, I have shared some of those complaints to help you get an idea of what it’s like investing with them: 

“Dacxi Coin is a Scam”

Jason shares that he has sent multiple emails over a year and even attempted multiple phone calls to exchange or sell his Dacxi token. 

However, none of those efforts have been fruitful.

He points out that the token is not worth anything because it’s not a cryptocurrency, it’s just a token. Jason believes that the company is running a scam. 

“Don’t Trust Dacxi”

Marc shares that he had a lot of faith in this crypto project right from its beginning. Moreover, he had added 20 people to this project and invested in it himself. 

However, as time went on and the more he got familiar with Dacxi crypto, he realized that it is merely a platform that focuses on taking advantage of newbies in the industry. Marc points out that the company only cares about making money from you and is turning into a scheme which can’t last for too long. 

Furthermore, Marc says that the company receives customers about its costs and fees. 

He gives an example as well. Suppose you buy something for $50 online and the platform says you would need to pay $1 when you checkout. However, as you checkout, the platform adds numerous hidden fees such as $3 admin fee and more. 

Marc says that asking any questions here is pointless because the company responds properly. 

Also, some representatives from Dacxi messaged responded to his review but the reply was quite unsatisfactory. 

Marc suggests staying away from the place and says that it’s better to keep your money safe. He doubts the platform would last long term. 

“Untrustworthy and Unethical”

David shares his personal opinion about this crypto firm in his Dacxi review. He highlights that one of the company’s Qualified partners had contacted him. The consultant kept selling him an investment opportunity and in the subsequent months, provided him with white papers. 

Then, David met with a sales director and even attended a Q&A session with the company CEO.

However, he later found out that the information they had provided him was factually incorrect. They had deliberately misled him multiple times. He shares that the Qualified Partners and Partners were earning crypto currency to bring new members in and would also receive sales awards and rewards. 

David says that the positive Dacxi reviews you see on Trustpilot are most likely posted by the Partners and Qualified Partners of the company. They get paid crypto currency to make new people join the platform so they have financial incentive to write their praises online. 

In May 2022, David lodged a complaint with the company. However, it took them 4 weeks to communicate with him. 

Now, he says that he is at a stage where he thinks he has no option other than to press legal charges. 

He shares that he has lost well over £40,000 with this company and is very disappointed with how the company handled his complaints. 

Moreover, he highlights that the staff lied to him about their complaint acknowledgement deadline by claiming that the 4 week deadline is only a ‘guideline’. When he went through the agreements, he didn’t find that to be the case. 

Like other Dacxi reviews, this one doesn’t recommend trading with this crypto firm as well. 

Additional Dacxi Reviews You Must Read: 

Summary

It’s obvious that Dacxi is not a reliable crypto firm. After seeing how the FTX scam collapsed, you should be extremely skeptical of any shady firm that operates in the crypto space. 

There are many examples of such scams operating in the industry such as ProfitsVision, a shady broker which uses illegal tactics to bury complaints. 

Don’t invest with Dacxi.