Dagcoin’s Success Factory Ponzi banned in Jordan
DagCoin’s Success Factory Ponzi scheme has been banned by the Central Bank of Jordan.
The CBJ’s nationwide Dagcoin ban was handed down as part of a 2019 Financial Stability Report.
On page twenty-four of the report, the CBJ writes;
Circular No. (27/4/16361) dated 24/11/2019, directed to banks operating in the Kingdom as well as financial institutions subject to the supervision and oversight of the CBJ.
The Circular prohibits the direct and indirect trade of all cryptocurrencies including (Dagcoin); including purchasing, selling, swaps, future contracts, investing in investment funds, or cryptocurrencies index funds, whether for banks, corporates, or clients.
It would appear promotion of the Dagcoin Ponzi across Jordan led to a nationwide ban on cryptocurrency.
Noting the CBJ’s Dagcoin ban was enacted in November 2019, Jordan remains a top source of traffic to the Ponzi scheme’s website.
In December 2020, as part of our coverage of Oman’s Dagcoin securities fraud warning, BehindMLM noted Jordan was the top source of traffic to Dagcoin’s website.
Two days ago, covering Dagcoin’s plans to launch its Success Factory Ponzi in the US, BehindMLM again noted Jordan was the only notable source of traffic to Dagcoin’s website.
Publication of that article led to a reader reaching out about the CBJ’s ban. I wasn’t previously aware of it.
Alexa ranks traffic to Success Factory’s website coming from Kuwait (33%), Pakistan (19%) and Saudi Arabia (15%).
Regulators in those countries have not yet taken action against Dagcoin or Success Factory.