EtherChain collapses, Andreas Kartrud flees to Montenegro
Andreas Kartrud’s first smart-contract Ponzi scheme has collapsed.
EtherChain was one of three scams Kartrud has launched, as part of his Eclipcity Ponzi factory.
Sometime over the past twenty-four hours Kartrud uploaded the following message to EtherChain’s website:
ETHERCHAIN WILL BE RELAUNCHED WHEN ETHEREUM 2.0 PROTOCOL IS FULLY RUNNING, THANK YOU FOR YOUR PATIENCE, EXPECT GREATNESS.
According to the Ethereum Foundation, ethereum 2.0 is “a long-planned upgrade to the Ethereum network”.
There is no ethereum 2.0 release date, not that it matters. EtherChain collapsed for the same reason any Ponzi scheme does, new investment ran dry.
In an attempt to delay EtherChain’s collapse, Kartrud recycled his smart-contract script to launch TronChain late last month.
TronChain has presumably also began to collapse, prompting Kartrud to launch CyberChain last week.
In our published CyberChain review, we noted Kartrud had recently traveled from his home country Sweden to Montenegro.
At the time I didn’t have any reason to believe this was nothing more than an oddly timed holiday.
Kartrud waiting till he’s out of Sweden to announce EtherChain’s collapse suggests he might be on the run.
According to the Eclipcity website, EtherChain solicited $19.4 million in ethereum. Through admin positions, a large percentage of that will have wound up in Kartrud’s pocket.
Someone asked on his Twitter: “when will get our ethereum back..” and he replied:
Do you think that we will get our Ethereum back?
EtherChain didn’t collapse because of transaction fees, it collapsed because new investment dried up.
This is why every Ponzi scheme inevitably collapses.
The “refund process” is part of the “don’t report us to the authorities” exit-scam. Ponzi schemes are a zero-sum equation, there’s nothing to refund.
There is no ethereum of yours to “get back”, it was stolen the second you invested. Sorry for your loss.
When someone flees, but doesn’t hide which country they’ve fled too, that usually means they hope to avoid extradition there.
If that’s the case here, going to Montenegro wouldn’t protect Kartrud against an extradition request from Sweden, or any of the other signatory countries to the European Country on Extradition, which means all of Europe, plus Israel, South Africe and South Korea.
Plus, Montenegro is a candidate member of the EU, so even without it yet being a member any extradition request from Sweden would probably be acted upon without any delays. (When an EU member state issues a European Arrest Warrant, in most cases there is no extradition procedure necessary anymore.)
So in terms of trying to avoid facing justice in Sweden or anywhere else in the EU, Montenegro probably doesn’t do him much good.
On the other hand, if he’s fearing possible action from the US, it would make perfect sense. The OneCoin case has shown that currently seems to be the only country which seriously goes after internationally operating Ponzi/pyramid scammers.
Montenegro doesn’t have an extradition treaty with the US. What’s more, it’s got a “citizenship for investment” program, under which foreigners with enough money can buy a Montenegran passport. There’s one current high-profile case of a wealthy American fugitive from justice quite openly living there: one Richard Wall, a suspect in 3 murders. Kartrud may be willing to spend a couple of millions of his Ponzi dollars to get the same peace of mind.
Now, this has got to be the funniest shit I have ever read on Behindmlm. I’m not into online stuff, I’m more a brick & mortar type guy, but I do so happen to know Andreas Kartrud through other ventures such as import & export.
The guy hasn’t fled to anywhere, he merely went on a business trip and is now back in Sweden.
Seriously, I use to think that you guys might have a credible source, but now I know first hand that you guys talk out of your bum holes!
Word of advice, give your bum a rest and let your mouth do the talking ❤️
You finding financial fraud funny is one thing, but that’s what happened.
We only reviewed CyberChain a few days ago and the marketing vids showed Kartrud in Montenegro.
There hasn’t been any updates in a week, so what’s your source he’s back in Sweden?
I see the scammers from Liberty League / Polaris Global / Prosperity of Life namely Shane and Rachel Krider have decamped from their former base in Thailand to Montenegro.
Must be something in the water. I wonder if they paid all their Thai debts before their departure???
Andreas Kartrud is back in Sweden: facebook.com/100008291260220/posts/2874014586218222/?extid=x1AACNqgUIXoCHTe&d=n
He doesn’t have to flee anywhere. No one will ever go after him.
So he’ll be back in Sweden in approx 10 hours, i.e. Taz above was full of crap.
Interesting strategy. Travel out of Sweden, shut your Ponzi down, travel back.
I suppose the fireworks won’t start till TronChain and CyberChain collapse too.
Oz, I seriously doubt he is on the run in Montenegro. He has a comfy base in Malmö, and he has a kid.
He seems to know better than scamming people locally, people that potentially would know someone that could take him for a ride in the country or a swim in the harbor. Much more convenient to scam people in the third world.
And Swedish Police does nothing about Ponzis. If it’s Swedes scamming other Swedes, and it’s a simple concept, maybe. Throw in something international, and techno stuff like block chains, they are lost.
They could not even convict the mother-son team behind Timeless, an art investment Ponzi.
I’m not doubting Kartrud is back in Sweden. Just seems pretty suspicious to run away specifically to close one of your Ponzis.
I guess we’ll see how the inevitable TronChain/CyberChain collapses go.
Just a coincidence likely. He is doing these trips occasionally to set up new networks.
He has nothing to run from in Sweden, people will not come knocking on his door. But I guess there are other places in the world where he do not want to set foot.
Could be. Montenegro doesn’t strike me as the smart-contract Ponzi capital of the world though.
For someone who has good reasons to think he might, one day, maybe need a safe place to retire to, going to take a look around in Montenegro, maybe even buy a modest little home there (it’s still a very cheap country), just in case, might not be a bad idea.
Generally, I do find it odd that one doesn’t seem to hear about any of these serial scammers being targeted by victims taking the law into their own hands. (Unless one counts the experiences of Konstantin Ignatov with his sister’s friends.)
Even if the smarter ones protect themselves by only targetting people outside their own country (or in the case of EU ones, outside the EU), which not only offers them some physical distancing from their victims, but also means the local authorities tend not to be very interested.
but getting your money back is of course depending on “the availability of funds from the 3% admin fee of TRONCHAIN”.
So, better start pouring more money into another Ponzi to get your “refund”.
Kartrud seems to be following this as he has now named Oz a [shock!] HATER as well as “exposing” him.
Haha “eclipcity token” with ROI staking. So a BitConnect clone is going to be Kartrud’s fourth Ponzi launch.
Oz is everything to you a scam mate? Andreas went to Montenegro for a business trip mate. Stop talking crap and get your facts right before spewing hate mate.
Give the guy a go as at least he is doing something so people can earn money while all you do is spew hate mate.
I love to see you create something Oz as it is so easy to criticise mate.
Nah. Scams are scams. Everything else is everything else.
You want to give a serial Ponzi scammer a go, go for it. I’ll continue calling a spade a spade.
Kartrud and a few early adopters stealing money through one Ponzi scheme after another isn’t justification for financial fraud. And calling out fraud isn’t hate.
What are you, five?
The verifiable facts are Kartud left Sweden for Montenegro. Shut down EtherChain while he was there. Waited a week or so and then traveled back to Sweden.
*starts BehindMLM and builds it up to one of the largest MLM related websites over 11 years*
Random Ponzi scammer: i’D lOvE tO sEe YoU cReAtE sOmEtHinG oZ!
Your record stuck, mate?
Why is it Shohan Bowala is always promoting Kartrud’s scams?
Kartrud is a noob that copied easyclub. Nothing to say more.