MetaHub Finance, marketed as a project by Auralink Labs Pte. Ltd (registration number UEA 202332656D), has been promoting itself as a blockchain and AI technology platform based in Singapore.

The project claims to build a decentralized affiliate marketing system, allowing users to earn rewards through advertising partnerships, all paid out in its cryptocurrency, MEN.

According to MetaHub Finance, users can engage with advertisements, complete tasks, and earn MEN tokens. The platform also promises other blockchain-based solutions, such as MetaID for identification, fraud prevention systems, and investment opportunities through NFTs.

The project has hosted various seminars and events in Vietnam, primarily targeting older audiences. These gatherings have promoted investments in MEN tokens with promises of high returns - up to 200% per year.

To boost investor confidence, MetaHub Finance has touted partnerships with tech giants such as Microsoft, Google, and Amazon Web Services (AWS), as well as blockchain security firm Certik.

In response to inquiries from VietNamNet, spokespersons for both Microsoft and Google have explicitly denied any partnership with MetaHub Finance.

Microsoft's representative stated: "Regarding recent claims made by MetaHub Finance about Microsoft sponsoring their seminars, we want to clarify that Microsoft has no commercial relationship with MetaHub Finance and has not sponsored any of their events."

Similarly, Google's spokesperson affirmed: "With regards to the seminar mentioned by VietNamNet, we have no sponsorship or collaboration with MetaHub Finance. Currently, Google does not have any partnership with MetaHub Finance."

Although AWS declined to comment, it remains clear that both Microsoft and Google have disassociated themselves from the blockchain project.

In addition to claims of partnerships with tech giants, MetaHub Finance has also promoted that its smart contracts have been "audited" by Certik, a well-known blockchain security firm.

However, experts in the field have noted that Certik's role is often misunderstood. While the term "audit" might suggest financial auditing, Certik's services focus exclusively on security analysis for blockchain projects.

One blockchain expert clarified: "Certik primarily focuses on smart contract security, not financial auditing. Many people mistakenly believe that a Certik audit ensures the project's financial integrity, which is not the case."

Furthermore, MetaHub Finance’s website lists various companies, such as SoFin Network and Box Gaming, as partners. Representatives from these companies have since stated that they have no affiliation with MetaHub Finance and are uncertain why their names appear on the project’s website.

MetaHub Finance also claims to have received investment from Gotbit, a digital currency exchange. VietNamNet has reached out to Gotbit for clarification, and a response is expected soon.

MetaHub Finance has attracted attention due to its multi-level marketing (MLM) model, raising concerns about potential violations of Vietnam's regulations regarding cryptocurrency. According to Tran Huyen Dinh, head of the non-profit ChainTracer project under the Vietnam Blockchain Association (VBA), MetaHub Finance exhibits many characteristics of a pyramid scheme.

"MetaHub Finance's MLM structure goes up to 20 levels, whereas typically, MLMs beyond seven levels are already considered suspect," he said. Additionally, the project's use of cryptocurrency to solicit funds may be in violation of Vietnamese law, which strictly regulates digital currency transactions.

Le My