iCoinPro Earnings Claims

The Direct Selling Self-Regulatory Council last month referred a crypto trading MLM’s “aggressive earnings claims” to the FTC and Nevada attorney general for possible enforcement action after the DSSRC said the company failed to substantively respond to its inquiry.

The earnings claims at issue appeared in social media posts by iCoinPro distributors as well as in testimonials on the iCoinPro website, the DSSRC said. They included:

• “With the launch of our new and improved iCoinPro 2020 system you can potentially make money with bitcoin and crypto currencies literally anywhere – on the Beach, at the Pool, or at Home on your computer, any where you choose! The world is your oyster…” Video with copy stating, “People are making a FORTUNE with cryptocurrency all over the world.”
• “If you’re interested in the future of money or want to be able to get some extra income or replace your own and live free from a day job take a look at this educational program.”
• “This program has helped me make profits daily whether the market is up or down. You can also earn residual commission income.”
• “I worked a 9 to 5 job for 20 plus years! Did I find it rewarding? NO…I share my journey to show others that there’s opportunity beyond 9 to 5 job, opportunity to gain extra funds if that’s what you need, opportunity to be your own BOSS!!”
• “Create time and financial freedom.”

“DSSRC expressed its concern that such earnings claims convey the message that the typical salesforce member can generally expect to earn significant, if not life-changing, income,” the self-regulatory group said.

While there is no longer a link to the testimonials page on the iCoinPro website, the page is still accessible to consumers who enter the testimonials URL directly in their browser. And there are still testimonials touting significant income, including those claiming that iCoinPro distributors can earn thousands of dollars a week, even with “no online marketing experience.”

Find more of our coverage on MLMs’ income claims here.