CryptoProgram securities fraud warning from BC, Canada
CryptoProgram has received a securities fraud warning from British Columbia, Canada.
As per the British Columbia Securities Commission’s March 2nd warning;
CryptoProgram claims to have offices worldwide and it also claims to offer cryptocurrency investment packages.
We are aware that CryptoProgram accepts British Columbia (BC) residents as clients.
CryptoProgram is not registered to trade in, or advise on, securities or derivatives in BC.
This is the equivalent of a securities fraud warning in other jurisdictions.
In light of CryptoProgram committing securities fraud, BCSC goes on to
urge BC residents to exercise caution when dealing with firms that are not registered to trade or advise in BC.
CryptoProgram is an MLM crypto Ponzi scheme pitching a perpetual 25% a month ROI.
The face of CryptoProgram is US national Ed Zimbardi.
Based on website traffic estimates shortly after CrpytoProgram launched in late 2022, Zimbardi is believed to be working with unnamed accomplices operating out of Dubai.
As of February 2023, SimilarWeb ranks Canada as the fifth largest source of traffic to Crypto Program’s website (3%, up 314% month on month).
SimilarWeb’s top sources of website traffic are the US (51%), the UK (17%), UAE (6%, down 87% month on month) and Australia (5%).
Update 9th July 2023 – CryptoProgram has rebranded as Amsys.
On the radar now.
Is this scam still operating? With so many past scams run, how many more people can be taken in by this?
Inexplicably still going and paying. Ed Zimbardi is a US National, only a matter of time before it gets taken down.
Incredible! On other forums, it was stated this scam was reported to FTC regulators.
Amazing how so many have lost funds and so much is still flowing into cp.
FTC handle pyramid schemes. MLM Ponzi shemes do have a pyramid element but they are unregistered securities offering.
That is the jurisdiction of the SEC and/or CFTC when there’s trading involved.
Supposedly some have already sent in complaints so hopefully there will be less that lose in this one of it gets shut down soon.
Ed now in Europe doing a tour to get more folks into CP.
Told there is an event in Manchester UK soon. It’s still paying and going strong it seems.
CryptoProgram website traffic declined between Feb and March 2023. If the plan to source new victims outside of the US doesn’t pan out, you know what that means…
Word on the street is participants are being encouraged to reinvest and buy new packs with many now making six figures per month.
Interesting it had sustained this long?
math > word on the street.
Promoters might be “making” six figures in their backoffices but they sure as shit aren’t withdrawing it.
CryptoProgram’s website traffic is denial, down to ~110,000 visits for April 2023. That’s not a “I’m stealing six figures per month” Ponzi scheme.