Crypto Crown Ponzi collapses, reboots as Crown Global Ltd
The Crypto Crown Ponzi scheme has collapsed.
As per an email sent out back in June, Crypto Crown was rebooted as Crown Global Ltd.
The biggest change between Crypto Crown and Crown Global is that new investors are required to invest $27,500.
This is up from Crypto Crown’s $500, and tells you a lot about how desperate things are.
I’m not sure when it went down but Crypto Crown operated from the website domain “cryptocrown.vip”). Today a visit to that domain returns a blank page.
Crown Global Ltd operates from “crownglobal.io”, privately registered on June 14th, 2022.
A visit to Crown Global Ltd’s website reveals its nothing more than an affiliate login/sign-up page:
As per an email sent out from “Crypto Crown Inc.” to investors on June 23rd;
There has been a few changes to the platform:
- All the Royalty Trading members will be moved to a new platform. It’ll be called Crown Global Ltd. The new domain and email will be shared after the transition.
- CCI will still be available but only for the members that were part of the original program called Launchpad/EnjinStarer will be able to access it [sic].
- There will be an annual membership fee of $75 for all Royalty Trading members.
- All new members must purchase a minimum of 50 units ($27,500 USDT/USDC) in order to secure their account.
Both Crypto Crown and Crown Global Ltd pitch an 18.5% ROI in the first six months. This is followed by 22.5% over the six months after that.
An attached MLM compensation plan pays on recruitment of affiliate investors.
Crown Global Ltd is run through a series of Canadian shell companies. Whether the scammers behind the Ponzi scheme are based in Canada is unclear.
SimilarWeb tracked 26,000 visits to Crown Global Ltd’s website in September, 17,000 in October and 36,000 in November.
The majority of traffic originates from the US (29%), followed by France (17%), Spain (14%) and Indonesia (14%).
Crown Global Ltd is not registered to offer securities in any jurisdiction. This means that, at a minimum, Crown Global Ltd and its promoters are committing securities fraud.
BehindMLM maintains that MLM companies committing securities fraud are Ponzi schemes.
Total Crypto Crown victim numbers and losses remain unknown. Pending Crown Global Ltd’s second collapse, we’ll keep you posted.