SKP Mine, aka SK Pools Mining Corporation, has received a securities fraud warning from the Philippines.

As per the Philippine SEC’s January 31st warning;

SK POOLS MINING CORPORATION is NOT registered with the Commission as a corporation or as a partnership and does not have the authority or license to offer and/or sell securities to the public.

This is the equivalent of a securities fraud warning in other jurisdictions.

The SEC also notes that SKP Mine is providing consumers with a bogus SEC certificate:

The SEC goes on to warn consumers that SKP Mine “has the characteristics of a Ponzi scheme”.

Further, the scheme employed by SK POOLS MINING CORPORATION has the characteristics of a “Ponzi Scheme” where monies from new investors are used in paying fake profits to prior investors and is designed mainly to favor its top recruiters and prior risk takers and is detrimental to subsequent members in case of scarcity of new investors.

This is in line with BehindMLM’s SKP Mine review, published in November 2023.

SKP Mine is a “click a button” app Ponzi run by Chinese scammers. BehindMLM has documented over a hundred of the scams to date, targeting various jurisdictions.

Back in October 2023, the Philippines was the top source of traffic to SKP Mine’s website. Traffic data after October is unavailable.

The SEC warns that promoters of SKP Mine in the Philippines run the risk of a twenty-one year prison sentence or 5 million PHP fine (~$89,000 USD).