Second HelloBit securities fraud warning from Spain
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;
companies @ BehindMLM
Meta Whale pyramid fraud warning from Slovenia
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;
DAO1 launches Xova to solicit investment through
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:
Fintoch admins arrested in China and Thailand
Two Fintoch admins have been arrested in China and Thailand. As reported by Khaosod English on October 29th;
Bit Mining Review: Crypto mining “click a button” Ponzi
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.
Cory Kromray pleads guilty to Driven Trading charges
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.
Hassan Mahmoud accused of raiding Iqonic to launch Noa
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.
Scammers resurrect Traffic Monsoon Ponzi, again
Scammers have resurrected the collapsed Traffic Monsoon Ponzi scheme for a second time.
Jifu founder alleges “legally risky business practices” (FTC?)
In a lawsuit filed against fellow Jifu co-founder Kyle Copeland, Bradley Boyle has made allegations of “legally risky business practices”. Boyle’s lawsuit also seems to suggest the FTC and State of Nevada are actively investigating Jifu.
Win On Wealth founders indicted, sued by SEC
Trong Hoang Luu and Linh Thuy Le, Win On Wealth’s husband-and-wife co-founders, have been indicted. The pair, who are based out of California, have also been sued by the SEC on civil fraud charges.
