The Mabcredit Ponzi scheme has collapsed.

As of late last week (approx Thurs or Fri), Mabcredit pulled its website. Attempts to visit the site since now return a “403 forbidden” error.

BehindMLM reviewed Mabcredit on April 24th. Based on the company’s fraudulent business model, we concluded Mabcredit was a Ponzi scheme.

Further research reveals Mabcredit initiated its exit-scam a week or so earlier in mid April.

Dear Esteemed Investors

We are thrilled to announce a significant milestone in the evolution of our investment platform.

As part of our ongoing commitment to innovation and excellence, we have selected a group of our investors, including you, to participate in an exclusive external testing phase of our cutting-edge DAPP network technology.

Mabcredit never disclosed what exactly “DAPP network technology” is or why the scam needed it. Instead, Mabcredit hid behind scheduled delays while it rolled out its exit-scam.

April 17th: We extend our sincerest apologies for the delay in the onboarding process, originally scheduled for the 15th of April, 2024. Despite our best efforts, unforeseen circumstances arose that necessitated this delay.

However, we are pleased to inform you that the onboarding process has been rescheduled and is now set to take place on the 22nd of April, 2024.

April 23rd: We regret to inform you that the onboarding process to connect to our central vault, originally scheduled for today, the 22nd of April, 2024, will be postponed by an additional 72 hours.

Our IT department requires this extra time to ensure that all necessary preparations are completed to the highest standard.

However, we view this delay as an opportunity to better prepare all investors for the onboarding day, now rescheduled for Wednesday, the 24th of April, 2024.

April 26th: I am writing to provide an update on the recent onboarding process, which unfortunately did not go as smoothly as we had anticipated.

We will communicate the date and details of the next onboarding session in our upcoming email communication. At this time, we anticipate scheduling the session for sometime next week.

May 23rd: We hope this message finds you well. Firstly, we would like to extend our sincerest apologies for the issues experienced during the recent onboarding process.

We understand that many of you followed the laid-out instructions diligently but did not achieve the expected results.

Please rest assured that we have been working tirelessly behind the scenes to address these challenges and to ensure the continued execution of our blueprint, which focuses on transitioning investments under our management to the smart contract module.

The next onboarding date is scheduled for the 10th of June.

May 23rd was the last update provided to Mabcredit investors. The update suggests part of Mabcredit’s exit-scam was charging a $250 “onboarding” fee.

Due to budgetary constraints and the need for approval on expenditures, we are requesting that investors contribute to the cost of the onboarding process.

Specifically, investors are required to pay a flat onboarding fee of $250, regardless of portfolio size.

It’s assumed Mabcredit pulled its website once they determined they’d milked as many investors of $250 as they were going to get.

Total Mabcredit losses remain unknown. As of May 2024, SimilarWeb tracked Mabcredit website users from Canada (46%), the Netherlands 41% and Denmark (13%).


Update 26th June 2024 – Mabcredit scammers have attempted a Genesis Investment reboot.