SageMaster has received a securities fraud warning from Austria’s Financial Market Authority (FMA).

As per FMA’s November 3rd SageMaster warning; [Continue reading…]

HelloBit has received a second securities fraud warning from Spain’s Comision Nacional del Mercado de Valores (CNMV).

As per CNMV’s October 20th HelloBit warning; [Continue reading…]

Meta Whale has received a pyramid scheme fraud warning from Slovenia’s Securities Market Agency (ATVP).

As per ATVP’s October 6th Meta Whale warning; [Continue reading…]

On the heels of MetaMask flagging DAO1 back in July, Xova has been launched.

Xova operates from the website domain “xovawallet.com”, privately registered on August 22nd, 2025.

No ownership details are provided on Xova’s website. If we visit Xova’s Google Play Store app page however, we learn the app was developed by Swed Schield AG: [Continue reading…]

Two Fintoch admins have been arrested in China and Thailand.

As reported by Khaosod English on October 29th; [Continue reading…]

Bit Mining fails to provide ownership or executive information on its website.

Bit Mining’s website domain (“betmee.com”), was privately registered on August 12th, 2025.

As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money. [Continue reading…]

Betronomy fails to provide ownership or executive information on its website.

Betronomy’s website domain (“betronomy.com”), was privately registered on May 22nd, 2025.

In an attempt to appear legitimate, Betronomy provides a company registration certificate for “Betronomy Limited”. Betronomy Limited was purportedly registered in Hong Kong on June 4th, 2025.

Due to the ease with which scammers are able to incorporate shell companies with bogus details, for the purpose of MLM due-diligence these certificates are meaningless.

Betronomy also provides quarterly financial reports on its website:

These reports are meaningless at face value given they are neither audited nor filed with financial regulators (legal requirement).

Additionally, the reports are backdated to Q4 2024, which is roughly six months before Betronomy even existed.

In Betronomy’s website source-code we find a hidden label with Russian as the default language:

This syncs with Betronomy holding staged marketing events in Moscow:

On Betronomy’s official YouTube channel, we find an obligatory rented office marketing video featuring at least one actor with an eastern European accent:

The video also features a Unitree G1 humanoid, sold by the Chinese robotics company for $16,000 as of August 2025.

Betronomy also represents it has held at least one staged event in Vietnam:

Putting all of this together, Betronomy is likely run by Russian scammers working with Chinese scammers.

It’s possible Russian crime groups are operating solo across Asia (Thailand), but they are unlikely to be doing so in Vietnam (a long established proxy for Chinese organized crime groups).

As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money. [Continue reading…]

Driven Trading’s Cory Kromray has pled guilty to wire fraud and money laundering.

Following an indictment back in May, Kromray’s guilty plea was submitted on October 10th. [Continue reading…]

A lawsuit filed by Brian McMullen has accused former business partner Hassan Mahmoud of raiding Iqonic to launch Noa.

McMullen’s lawsuit also fills in some gaps with respect to the formation of Iqonic, which we’ll go over before getting into the lawsuit itself. [Continue reading…]

Scammers have resurrected the collapsed Traffic Monsoon Ponzi scheme for a second time. [Continue reading…]