Alex Reinhardt’s Banqiro Ponzi scheme has collapsed.

In an update posted to Telegram, Reinhardt confirmed Banqiro promoters had failed to recruit new victims.

Dear BNQ supporters,

The success of a project always depends first and foremost on funding and the interest of potential partners in providing this funding.

Unfortunately, we have realised that this interest was and is clearly not present to the extent required.

The management has therefore decided to terminate the “Banqiro” project with immediate effect.

To dissuade complaints to regulators, Reinhardt is promising Banqiro investors a refund plus “5% special bonus”.

All supporters who hold the BNQ token will be refunded their contribution plus a 5% special bonus.

The refund will be made in an automated process, which is expected to be completed by 30 November 2023.

Given Reinhardt’s long history of stealing money through MLM crypto Ponzis and Banqiro’s low investor count, this isn’t out of the question. We of course have no way of confirming whether refunds will go out by the stated November 30th deadline.

Banqiro launched in mid 2023 and was an MLM crypto Ponzi built around BNQ token.

Banqiro existed in the shadow of Reinhardt’s much larger Platin* series of Ponzi schemes. The latest Platin* Ponzi iteration is Ultima, launched a few months after Banqiro.

Ultima follows at least four reboots of Reinhardt’s Platin* Ponzi schemes. The business model is always the same; launch a shit token, pump the token’s price with wash trading, get new investors on board and cash out.

This can be seen in the PLCUC trading chart (PLCUC was the last collapsed Platin* Ponzi iteration before Ultima):

Reinhardt, believed to be a German national, fled to Dubai in 2021.

Despite years of Reinhardt defrauding consumers through various MLM crypto Ponzi schemes, to date German authorities have failed to take action.