Within 24 hours of BehindMLM reporting on MetaMax’s Philippine SEC fraud warning, the scammers behind the Ponzi scheme pulled the plug.

MetaMax’s .VIP domain has been disabled. The Ponzi scheme’s other .TOP domain was disabled sometime in June.

The Philippine SEC MetaMax fraud warning coincided with the majority of MetaMax investors being Philippine residents.

MetaMax itself was a simple task-based Ponzi scheme, run through a now disabled mobile app.

Typically task-based Ponzi schemes are the work of Chinese scammers. MetaMax’s official FaceBook page however was managed from Brazil.

Officially, MetaMax was headed up by an fictional AI avatar executive:

In the wake of MetaMax’s collapse, the usual recovery scammers are out and about trying to double-scam victims. Anyone who invested into MetaMax and is being solicited for recovery should be advised you’re going to be scammed again.

Whether it’s an official reboot or not is unclear but Meta Quest-Plus has emerged since MetaMax’s collapse.

Meta Quest-Plus operates from the domain “meta66.com”. The domain was purchased in late May with registration details pointing to Cambodia.

This could be a ruse but organized Chinese crime groups do run these types of scams from compounds in Asian countries.

The compounds are filled with human trafficked victims from Asian countries (typically recruited with the lure of fake legitimate job offers).

Effectively slaves once kidnapped, the victims are forced to set up and run app Ponzi scams. What we see with the MLM app Ponzis is only part of the fraud carried out.

Meta Quest-Plus is a lazy copy and paste of MetaMax. The scammers have lazily misappropriated the branding, logo and IP of Meta, the company behind FaceBook.

It should go without saying that Meta Quest-Plus has nothing to do with Meta.

If you’re dumb enough to fall for the same scam twice you’re going to lose money… again.

 

Update 13th July 2024 – Another MetaMax reboot has been launched from the domain “h5-metamax.com”, registered with bogus details on May 20th, 2024.

This is another Ponzi scheme targeting MetaMax victims.