Frode Jorgensen has appointed a new Daxio CEO.

As Daxio’s new CEO, Robert Malkvist’s first order of business was to give Daxio victims the finger.

Speaking on a May 28th Daxio webinar, Malkvist directly addressed Daxio victims;

[3:22] I don’t owe you guys anything, Okay? You didn’t come and invest with me, you guys invested in something before me.

So anyone spitting negativity, or has anything negative to say, take your money and get the fuck out.

From Malkvist’s own words, it appears Jorgensen has handed him complete control of Daxio.

[5:28] I’m handling the money now. I’m responsible here for the money. The money’s going to go where I want it to go. Now I’m responsible.

You guys who invested before me and want to hold me responsible for it? No. Take your fucking money and get the fuck out.

Daxio started back in 2021 as the fourth reboot of the collapsed Global Game Arena Ponzi scheme.

In 2021 a sports betting bot was added. In 2022, Daxio pivoted to an NFT and metaverse grift.

Following the news Daxio was under regulatory investigation in Norway, Daxio withdrawal delays began in September 2022.

BehindMLM called Daxio’s collapse in January 2023. In February 2023 Jorgensen claimed hitmen were after him and that he’d fled Thailand.

Total Daxio investor numbers and how much they’ve lost remains unknown.

As of April 2023, SimilarWeb tracked the majority of Daxio’s primary website traffic originating out of Sweden (42%), Hungary (20%) and Malta (16%).

So who is Robert Malkavist and what is he doing running Daxio?

[5:58] You guys can look me up on the internet. What do you see? Nothing. That’s how I want it.

My impression is Malkvist is he’s an unstable individual having something of a midlife crisis.

Malkvist, originally from Sweden, cites himself as an American citizen. He had a sporting background at a young age but after that didn’t work out, got into construction and “became an asshole”.

After having a heart attack a few years ago, Malkvist moved to Phuket, Thailand.

On the refund side of things (which is pretty much all anyone in Daxio cares about), Malkvist claims that Frode will fund refunds with the money he paid him.

[6:01] Listen to this very carefully; I don’t owe you anything.

I’m here, and I made a deal with Frode and the rest of the team to purchase majority stock of this company. For “X” amount of dollars.

This “X” amount of dollars is enough to pay each and every one of you back. If it was me, I wouldn’t pay you guys shit back.

Looking forward, Malkvists’ plans for Daxio include buying a hotel.

[44:00] So we, Daxio, we’re gonna buy this hotel. Okay?

And every investment that you make from now on will be micro-pieces of owning a hotel. The more you buy the more hotel you own.

Despite representations of wealth…

…Malkvist claims he’s having trouble getting a loan to buy the hotel because “the bank won’t give me shit”.

From a logical standpoint, it’s unclear why a hotel turning a profit would need Daxio or its attached NFT and metaverse grifts. Seems like something you could just as easily do without a five-times collapsed Ponzi scheme.

Other Daxio updates from Jorgensen include a new website.

Daxio’s failed SDAX staking is still a thing, although an “unstaking” option will be added at some point.

Jorgensen also claims the new Daxio is “no longer a network marketing company”.

Daxio’s new business model sees it take 40% of invested funds and put it into a Star Distribution Reward.

The Star Distribution Reward pays out based on accumulated stars.

Daxio affiliates accumulate stars directly and indirectly via recruitment:

As you can see above, stars are distributed down five levels of recruitment. So uh yeah, Daxio is still very much an MLM company.

According to Malkvist, Daxio will start refunding victims in mid June.

Investors who refuse a refund and opt to continue losing money, will have to pay a new Daxio license fee.

If Jorgensen does actually pay out Daxio victims next month, I can’t see much happening beyond that.

Failing which, we’ll keep you posted on the inevitable excuses as they’re rolled out.


Update 24th June 2023 – The Robert Malkvist led Daxio fourth Ponzi reboot has already collapsed.