MetaHub Finance has appeared on social networks and Telegram recently. It introduced itself as a project of Auralink Labs Pte Ltd (No UEA 202332656D), headquartered at No 33A Pagoda in Singapore. It operates in the field of blockchain and applies generative AI technology, with focus on building an affiliate marketing platform and implementing tasks so that its members can get awards from advertising partners.

The project operates under the form of attracting advertisers and advertising partners on a system called DAC (decentralized affiliate consuming). When users watch ads and perform tasks, they receive MEN (MetaHub Finance, the currency of the project). 

The company also stated that it provides products such as MetaID (an identification system), BMAS, a system used to stop malicious bots and prevent fraud threats, and as carries out investment activities through NFT (non-fungible token) and MEN.

The project has organized workshops and seminars in Vietnam (implemented by Vietnamese) to call for investment in MEN, promising profit of up to 200 percent per annum. Most participants at the workshops and seminars are elderly.

In order to win investors’ confidence, the project has posted advertisements at media agencies in Vietnam. It stated that the seminars are sponsored by tech giants such as Microsoft, Google and Amazon Web Service.

MetaHub Finance runs a lot of ads on Facebook and repeatedly calls for investments in Telegram groups.

In an effort to clarify the legality of the project, VietNamNet reporters managed to contact the Vietnam Blockchain Association (VBA) Vietnam to ask for information about the project.

In the document replying to VietNamNet’s questions, Tran Huyen Dinh, chair of the ChainTracer project under VBA, a not-for-profit blockchain-based traceability project, wrote that after inspections and analyses, VBA has found suspicions signs and it believes this is a type of MLM (multi-level marketing) via virtual currency/NFT sales.

MetaHub Finance doesn’t focus on developing products and services. Instead, it concentrates on calling for investment from new members to expand its network.

Investors are required to buy NFT investment positions at prices of 100 USDT at minimum (the currency with equivalent to USD on blockchain network), and after that, convert into MEN for staking (a type of deposit on blockchain network). They are promised huge profits of 200 percent per annum in MEN. 

The noteworthy point is that investors buy in USDT and receive awards in MEN.

Advertisements say that new members have many different ways to earn money from MetaHub Finance network, including watching enterprises’ ads, and accumulating MEN for interests. However, in closed groups of the project, mostly on Telegram, the current major source of revenue is from attracting new members through MLM.

This means that agents will get commissions based on the number of lower-level members they can attract. The network structure consists of 20 levels and the total commissions one can expects are up to 100 percent from the accumulation of MEN of lower-level members. 

This generates a model with many different levels, in which the incomes of higher-levels members depends on the capability of recruiting new members and expanding the network, rather than on the quality of products and services as described.

Dinh said that MLM models with more than five levels all have risks, and if they have more than seven levels, they will be considered a Ponzi scheme which is a form of fraud that lures investors and pays profits to earlier investors with funds from new investors.

VBA has warned of risks for investors who join MetaHub Finance network.

First, the risk when joining multi-level system. There are many ways to join MetaHub network, but the most advertised way is purchasing NFT-Pass (VIP member) with value of every NFT at $100 at least (or USDT). Higher-level members can get commissions from new NFT buyers. And if more new investors cannot be recruited, the system may collapse.

Second, the risk from MEN: the number of MENs created every day (from production, depositing) is not commensurate with demand.

Third, MEN liquidity is low.

Fourth, legality: 107 businesses have registered their address at No 33A Pagoda 05912.

Le My