The ITP Corp Ponzi scheme has collapsed. Withdrawals were disabled five days ago, with no official explanation provided.

Instead of explaining why withdrawals are disabled, ITP Corp relentlessly pushed a 100% match “Thanksgiving” deposit bonus.

Immediately after disabling withdrawals, ITP Corp also trotted out a $100,000 72-hour withdrawal guarantee.

Obviously coming up on six days of no withdrawals, the 72 hour deadline has come and gone. Obviously nobody received the promised $100,000 guarantee.

For reference “Albert” in the guarantee notice above refers to Albert Gomez, a fictional executive identity the scammers running ITP Corp recently came up with.

ITP Corp was primarily promoted to UK residents. This prompted local recruitment leaders to come up with fictional stories about blockchain hacking and Thanksgiving Day in the US affecting withdrawals.

One such top UK recruiter is Fakih Mahmood Subedar (aka Mack Subedar), a former toilet paper salesman from Leicester.

Earlier today Subedar was waffling on about “blockchain issues”;

I’m getting LOTS of calls asking me for an UPDATE.

It’s Very Simple. We are all just waiting very patiently as the issues with the blockchains unfold. What a crazy time for the hackers to hit the Networks.

Thanksgiving is HUGE in America. They timed it at a time when they knew there is a NATIONAL SHUTDOWN HOLIDAY.

This will cause the most disruption. Let’s just be patient.

To be clear, although it represents it is based out of Seattle in the US, ITP Corp is a “click a button” app Ponzi.

This particular type of scam emerged in late 2021. Behind has thus far documented over one hundred examples, all of which are run by Chinese scammers.

ITP Corp’s original website featured Chinese:

The website on ITP Corp’s third domain, following blocking of the first two by UK by ISPs, has been scrubbed of any Chinese.

Nonetheless if we look at the source-code of ITP Corp’s official support page, we see it runs on Meiqia’s platform.

Meiqia is a Chinese software company based out of Beijing. Beyond a US shell company certificate, purchased online using bogus details, ITP Corp has no ties to the US.

Another top UK ITP Corp promoter is Somerset resident Charlie Wildish (right).

In the description of video uploaded to Wildish’s YouTube channel on November 15th, Wildish states;

The network that ITP transfer withdrawals over has been hacked.

As a precaution the network has temporarily been shut down to prevent the hackers syphoning of anybody else’s money.

Like Subedar’s lies, this too is baloney. The match behind Ponzi schemes firstly guarantees they will inevitably collapse. It also guarantees that when that happens, the majority of investors lose money.

Simply put; in order for ITP Corp’s admins and top promoters like Subedar and Wildish to steal money, the majority of investors in ITP Corp had to lose money.

While the FCA banned MLM cryptocurrency investment schemes in the UK on October 8th, thus far no action has been taken against ITP Corp or local UK promoters.

It remains unclear whether UK ISPs blocked ITP Corp’s website of their own accord or on behalf of authorities.


Update 26th November 2023 – Within minutes of this article being published, ITP Corp published a withdrawal update in their official Telegram group.

The update parrots the Thanksgiving Day hacking lies first trotted out by Mack Subedar and Charlie Wildish.

Due to the recent USDT blockchain volatility issues, it has led to the normal efficient operation status of many blockchain related business across the globe.

At the same time, this phase also coincides with the U.S. Thanksgiving holiday, ITP manager team is also in a normal holiday shutdown, but does not affect the normalization of the operation of the ITP application.

Naturally there are no issues depositing new USDT into ITP Corp. Go figure.


Update 30th November 2023 – ITP Corp has initiated a 100 USD recovery scam on a new website domai.