Metafi Yielders collapses, pulls “just a pause” exit-scam
Shortly after COTP collapsed, Metafi Yielders accomplice CEO Michael Daher took to FaceBook to hold a live.
Acknowledging some investors were having a “meltdown or a panic”, Daher went on to deliver more bad news.
Blaming “the market”, Daher framed Metafi Yielder’s collapse as “just a pause”.
We need to make some changes to our system. We do need to make some changes to our algorithm because I wasn’t prepared for a crash.
Daher went on to announce not so much “changes”, but more “thanks for your money, g’bye”.
So for the next thirty days we are switching off.
There’s just going to be some changes to the website. We are not going to put a timer on it. It’s not going to be that long.
We are not taking deposits as well as withdrawals. No money has gone missing.
Daher goes on to suggest KYC will be implemented as a potential exit-scam tactic in the future. Live chat support for investors has also been terminated.
In other words, it’s over.
I say that because for the past twenty days Metafi Yielders has been soliciting $10,000 investments.
Metafi Yielders’ 4.2% a day plans, which remember were introduced to reduce the original 42 day plan expiry cashing out, were introduced on or around May 4th.
The plans have a 42 day expiry (Metafi Yielders prolongs collapse by only paying Monday to Friday), with twenty days having passed today.
With a large number of MLM crypto Ponzis collapsing over the past fortnite (a number of which are run by the same group of scammers), a new bullshit infinity percentage plan isn’t likely to keep people reinvesting.
So instead Metafi Yielders has just turned off withdrawals altogether. Like COTP, rather than just acknowledged they’re exit-scamming, you have a “pause” ruse to drag things out.
Math is math though and the end result however is always the same.
The other tell is Metafi Yielders’ ongoing withdrawal problems, which began a few days after the 4.2% plan was introduced.
On May 17th, with withdrawals still disabled, new restrictions were announced.
- investors are limited to two withdrawals a day, capped at $4000
- withdrawals will now be approved manually, subject to a 24 to 48 hour wait time
- investors are no longer permitted to pull out their capital prior to their investment plan expiring
The next day withdrawals were disabled again. It wasn’t until May 20th they were reopened, still subject to the above restrictions.
Presumably over the next two days everyone cashed out what they could… and here we are with the writing on the wall.
Metafi Yielders’ accomplice CEO “Michael Daher” is played by actor Michel Daher, a resident of Perth, Australia.
The actual owners of Metafi Yielders are believed to be the usual Russian Boris CEO suspects. They are suspected of also running the recently collapsed Swapnex Ponzi.
Based on ongoing analysis by SimilarWeb, traffic to Metafi Yielders’ website appears to have peaked in April. We don’t have a geographical breakdown yet.
Daher pegs Metafi Yielders investors at over 20,000. Total investor losses are unknown.
Update 12th June 2022 – Following on from hiding MetaFi Yielders’ official FaceBook group, all videos from MetaFi Yielders’ YouTube channel have now been deleted.
Update 28th June 2022 – Metafi Yielders’ website is offline.
You’ve got to wonder how many millions Boris is sliding Daher under the table to keep this facade going.
And if he’s not getting paid millions, Daher is one of the dumbest actor CEOs we’ve seen yet.
Metafi Yielders is a scam. Support agent warning about what’s really happening in TG removed.
I want to reiterate this for the new wave of YouTube shills promoting MLM Ponzi schemes out there:
Promoting unregistered securities is illegal in the US.
No ifs, no buts. No “bUt ThIs Is NoT fInAnCiAl AdVice”. It’s illegal as per the Securities and Exchange Act, period.
Here’s what ideally happens to every promoter of MLM Ponzi schemes:
If you walk away from an MLM Ponzi scheme as a net-winner, you stole money.
Own your thievery and stop bullshitting the audience you continue to steal from.
The one thing I’ll give Smith is the 42 day correction period (monday to friday pay-period). I’ll update that.
As for experience, you got COVID-19 last year and reinvented yourself as an MLM Ponzi crypto bro.
I’ve been running BehindMLM since 2009. My track records speaks for itself.
Looking forward to the whacko excuse they give when they complete their exit scam.
The latest from Daher is some bs about AUSTRAC and KYC.
KYC we’ve covered as an “after the fact” Ponzi exit-scam stalling tactic.
With respect to MLM due-diligence, AUSTRAC is meaningless. Think FINCEN in Canada, another favorite used by Russians.
To offer securities in Australia you need to be registered with ASIC and filing audited financial reports.
If you’re not registered and/or aren’t filing reports, you’re committing securities fraud because you’re a Ponzi scheme.
ASIC only covers Australia. The majority of Metafi Yielders investors are belived to be from the US.
In the US securities are regulated with the SEC.
If you’re not registered with the SEC and filing audited financial reports, you’re committing securities fraud because you’re a Ponzi scheme.
If you’re not registered with the appropriate financial regulator in every country you solicit investment in, you’re committing securities fraud because you’re a Ponzi scheme.
Promoting unregistered securities (i.e. advertising Ponzi schemes on YouTube), is also illegal in every country that regulates securities.
Michael called me up wanting to be licenced under our AFSL here in Australia.
We did not proceed or follow up with him as it just seemed to be too much risk on the licence which will lead me to believe that nobody will licence him here in Australia.
Interesting to see how all of this pans out…
Article updated to note all videos on Metafi Yielders’ YouTube account have been deleted.
Hide the evidence!
I suspect Daher brought up AUSTRAC – as it’s a system designed to catch money laundering etc… which only gets ‘triggered’ for amounts over $10,000… Coinkydink? I think not 😀
Does this hold the record for the fastest collapse of a Crypto MLM Ponzi?
Futures Trade was pretty quick. Also a bunch went down pretty quick last month due to the Terra collapse.
Is tyhere any legal action being filed against this tyrant?
Everyone sitting around asking whether there’s any legal action being taken = no legal action being taken.
ASIC is taking action…
Screenshots posted in the Now What fb group…
Are they though?
ASIC registrations are like basic UK incorporation.
Deregistering a Ponzi scheme after its collapsed. As the FaceBook group title goes, Now What?!
I hope this is the first step and that prosecution will follow but I’m not holding my breath…lol
I went over this today and figured I’d report on it because, at least as far as I’m understanding, Metafi Yielders is still in violation of ASIC’s demands.
Naturally when I went to bring up Metafi Yielder’s ASIC registration, ASIC informs me their portal is down for 24 hrs.