Earn World collapses, “90% losses” exit-scam
The Earn World Ponzi scheme has collapsed.
Investors are being lied to about recovery and owner Suki Chen is believed to have gone into hiding.
Earn World’s pending collapse manifested itself in the first week of July.
On or around July 6th, Earn World investors were locked out of their accounts under the guise of “maintenance”:
On July 9th, Earn World blamed its unscheduled maintenance on a “drastic crash” in the “crypto market”.
We address you today in the wake of recent unprecedented events that have significantly impacted the crypto market and subsequently led to a drastic crash.
This market crash impacted us … resulting in the liquidation of our trading positions.
Earn World stated it was “evaluating the situation” and promised further updates.
Over the coming days, Earn World investors report having been told the company lost 90% of invested funds through purported trading losses.
Leonard Benn: [Suki] told us that approx. 10% of the company funds are left. This is even too less to run the company further on with all the employees.
No verifiable proof of Earn World ever generating revenue via trading activities has ever been provided. The same is true of its “90% losses” exit-scam.
On July 11th Earn World announced it had cancelled an upcoming incentive trip to Bali.
On July 14th Earn World announced it had restored “wallet and node” functionality. As of July 21st, Earn World withdrawals remain disabled.
Earn World is a reboot of the collapsed Streakk Ponzi scheme.
Streakk launched in 2022 and collapsed in January 2024.
Earn World was immediately launched as a reboot scam and lasted six months before it too collapsed.
Both Streakk and Earn World were run by Indonesian national Suki Chen (aka Sukijami Chendrawan).
In the wake of Earn World’s collapse, Chen has gone into hiding.
The following is two separate dated communications from Earn World “leaders” desperate to keep victims from turning on them.
July 8th – Right now [Suki] is in the US preparing his next flight to El Salvador regarding the set up of our new building.
July 14th – No one can reach [Suki] over traditional phone and therefore the idea of quickly flying to San Salvador by some leaders is good but of course not possible as we simply all don’t know where he is for sure.
Whether Chen was actually in the US or El Salvador is unclear. Chen’s last confirmed location was Dubai, from where he ran both Streakk and Earn World.
Due to the proliferation of scams and failure to enforce securities fraud regulation, BehindMLM ranks Dubai as the MLM crime capital of the world.
It seems unlikely Chen would leave Dubai as part of Earn World’s collapse.
What we can confirm is, coinciding with Earn World collapsing and Chen going into hiding, marketing material published on BusinessForHome has been quietly deleted.
Owner Ted Nuyten hasn’t publicly addressed Earn World’s collapse or the removal of suspected paid content from BusinessFromHome.
Regarding investor losses, for now the only figure we have to go on is Earn World’s self-reported $200 million in theft over 2023.
As of June 2024, SimilarWeb tracked top sources of traffic to Earn World’s website as Russia (30%), Indonesia (10%), Ukraine (8%), Germany (6%) and Spain (3%).