CryptoProgram rebrands as Amsys after fraud warnings
Following regulatory fraud warnings from Canada and California, Ed Zimbardi has rebooted his CryptoProgram Ponzi scheme as Amsys.
Attempts to visit CryptoProgram’s now defunct website domain returns an “under maintenance” message:
I believe the switch to Amsys took place on or around June 24th.
Amsys operates from the website domain “amsys.io”, privately registered on April 13th, 2023.
A visit to Amsys’ website reveals a blank referral entry box:
Upon entering in a CryptoProgram/Amsys affiliate referral code, new recruits are presented with a signup form:
Existing CryptoProgram investors are required to log in by directly accessing a “/login” directory:
As you can see Amsys has minimal branding and no external web presence. Likely fearful of ongoing regulatory heat, Zimbardi is trying to keep the Amsys reboot as low-key as possible.
Zimbardi failed to communicate the rebranding directly to CryptoProgram investors.
A communication was made on CrpytoProgram’s now unlisted private FaceBook group, however investors who weren’t in the group were left in the dark.
Besides the name change, I believe there are no material differences between CryptoProgram and Amsys. It’s the same Ponzi scheme running the same illegal business model.
CryptoProgram attracted the attention of the British Columbia Securities Commission back in March:
- BCSC issued a CryptoProgram securities fraud warning on March 2nd;
- BCSC issued CryptoProgram and Ed Zimbardi a cease trade order on May 11th; and
- California’s DFPI issued a CryptoProgram fraud desist and refrain order on June 28th
DFPI’s CryptoProgram fraud investigation appears to have prompted Zimbardi to rebrand.
Pending Amsys collapsing or regulators taking further action against Zimbardi, we’ll keep you posted.
Update 14th August 2023 – Amsys began experiencing withdrawal delays a few weeks into July.
How do you know all this information? If this is a Ponzi scheme then every affiliate program is a Ponzi scheme… Your information is incorrect.
Because it happened.
CryptoProgram/Amsys isn’t a Ponzi scheme because it has an affiliate program. It’s a Ponzi scheme because newly invested funds are used to pay withdrawals.
Your understanding of a Ponzi scheme is incorrect.
What is the latest information. On this program is it a ponzei scheme or not?
Ponzi schemes don’t unPonzi themselves just by changing their name.
Cryptoprogram/AMS is having payment issues. They’re blaming “tech issues”. I have a video I can share with you via email from Ed Zimbardi – just let me know.
I also have 10 screenshots of people saying they can’t get paid. Slow rug incoming.
Are the payment issues recent or ongoing? If it’s only been a few days I’d hold off but if it’s been a week or so that’s long enough to call a second collapse.
Contact form is available via the button on the top right.
Sending an email. They’re doing selective payments right now and some people have missing them for a week or more.
Looking at their account they had about 1.3 million last night. This morning it has 300k. Where did that $1million go? Was is sent to those partial payments?
I didn’t get paid and know people 5 days behind now. Is there any new update?
Ponzi Patrol sent in some updates on Amsys’ payment situation. It’s on the menu for me to get into today.
So I’m curious, how do you track a wallet? It’s inflow vs outflow? #8 comment states they had 1.3 million the prior night and then in the morning only 300k. I also have seen a few posts here and there in the group on FB that say there were some delays on payments.
This was explained in a video from Ed that the original developer of the original website quit working with them and had the database programmed in a specific database language.
They got a new developer who said they could merge the database which has not gone as hoped. Therefore they are having to manually go through everything, verifying everything manually to put into the new database.
Could that just be pretense? Possibly. But that could also be legitimate as I worked in that industry when I was much younger.
But I see no proof that this is a ponzi scheme. I see no proof that you show that only new money is being used to pay out clients.
By my calculations, with how many referral packages are listed and the numerous people who have talked about their payouts, I am estimating they are paying out over 12 million monthly. That’s not exactly a small sum of money.
I also know about the C&D order from California. I read it and it they make what seem like wild claims for many of the so called “facts.”
I also know about the order from BC. But none of that has any real legal weight unless they can prove their claims. I wrote to California and asked them how they came to their conclusions. Still haven’t got an answer back. Not that I expect one.
So I’m just curious, what actual proof is out there that this program is false? To me just saying because you can’t see behind the scenes is a rather weak statement.
Both California and BC proved securities fraud in their warnings.
MLM + securities fraud = Ponzi scheme. Stop making excuses for scammers.
California called it a Ponzi scheme in their C&D. They have access to blockchain tracking software and bank records. They wouldn’t call it a Ponzi unless they have 100% proof.
CP and ED are committing securities fraud. They’re required to show audited proof of their revenue but they choose to operate illegally instead. Hmmm, wonder why? Well, the audit would show what California said was correct – it’s a Ponzi.
I showed Ed’s personal wallet in one of my videos where he started CP. All transactions were Ponzi-style transactions. Money in – money out. Nothing converted to fiat.
If you worked as a developer you’d know everything Ed is saying is nonsense. It doesn’t take a month to add a button. Developers don’t change the language of a database LOL. This is all just Ponzi excuses and it happens in every Ponzi.
Delayed payments > Select payments > Paused payments > Exit Scam (no payments). Different excuses will be made along the way.
Sorry in advance for your loss.
Oh, and I’m in b4 “I’m making money! What loss!?”. If you are compounding and haven’t taken your “profits” out then you’re about to lose it all. And if you have in fact ACTUALLY gotten enough out to be in the profit, that money was just stolen from the 90%+ of people who will lose money. You’re in a lose-lose situation and playing dumb. Make sure you refinance your house and go all in lol
Any news on if anything new is happening or thoughts on what to do next?
Is it finally over? Or are some people getting delayed payment? Still not paid here.
Ponzi go boom. Your money is gone.
Zimbardi is a US national last known to be residing in the US. Your best bet is filing a complaint with the SEC.
Breaking news payments halted for 120 days, for “website updates”. It’s over!
haha.. well 120 days for him to clear and get up out of USA so people to raise official complaints to the authorities.
I’m just waiting for the sheep to come on here defending him. He’s is a prolific scammer. This was a big one for sure.
Oh.. he is just a master affiliate like the rest of you…LOL
Popcorn ready.
Safe with Zimbardi, never to be seen again. RIP.
If it looks too good to be true then it probably is. Should have listened to my own advice :/