Belgium’s Financial Services and Markets Authority (FSMA) has issued three MLM related fraudulent trading platform warnings.

In a warning published on March 14th, the FSMA “strongly advises against responding to any offers of financial services made by” CosCoin, Onewiex and FVP Trade.

These platforms act very aggressively. They often claim to hold an authorization by a fake financial authority, displaying it so as to seem trustworthy.

Scammers even try to persuade the victims to allow them to take control of their computer remotely in order to make certain money transfers.

The fraudsters also try to convince the victims to invest increasingly higher amounts of money.

They also make promises of repayment in exchange for one last money transfer. This is a technique to collect even more money from their victims.

These are most likely cases of investment fraud. Fraudsters not only act without the necessary authorizations, but they also divert the investors’ funds.

In such cases, investors are unable to recover their money because these illegal service providers are generally located abroad.

FVP Trade was a Boris CEO Ponzi scheme launched in mid 2020.

The scam is believed to have originated out of Asia with possible ties to Dubai.

BehindMLM documented FVP Trade’s collapse in July 2022, a few weeks after we published our review.

To date FVP Trade’s original website remains offline. A reboot or recovery scam was launched in early 2023 from the domain “”.

Hosting on that domain has since been disabled.

Onewiex surfaced in mid 2023 and is believe to be the unofficial successor to Quwiex. Both Ponzi schemes are believed to be run by Russian scammers.

The first iteration of Onewiex operated from the domain “”. It collapsed in August 2023.

A reboot launched on the domain “” but has since also collapsed.

CosCoin is attached to COS, aka Cosetek, a “click a button” app Ponzi launched last year.

Following a regulatory fraud warning from Washington in September, COS went on to collapse in November 2023.

Despite all three MLM Ponzi schemes having collapsed last year, FSMA cites FVP Trade, Onewiex and CosCoin as “new trading platforms [that] have appeared on the internet in recent weeks.”