MetaMax has received a securities fraud warning from the Philippines.

As per the Philippine SEC’s June 25th warning, MetaMax

is enticing the public, through social media platform or through their own independent websites to invest in said entity.

The public is being made aware that an “investment contract” exists when there is an investment or placement of money in a common enterprise with a reasonable expectation of profits to be derived from the efforts of others which is prominent in the
scheme of METAMAX.

As such, the Securities Regulation Code (SRC) requires that said offer and sale of securities must be duly registered with the Commission and that the concerned entity and/or its agents should have the appropriate registration and/or license to sell such
securities to the public.

The records of the Commission show that METAMAX ASIAN INC. is registered with the Commission. On the other hand, METAMAX is NOT REGISTERED with the Commission as a Corporation or a Partnership.

However, METAMAX ASIAN INC. and METAMAX are NOT AUTHORIZED to solicit investments from the public since it has
not secured prior registration and/or license from the Commission as prescribed under Section 8 and 28 of the Securities Regulation Code (SRC).

Failure to register securities means MetaMax is offering unregistered securities in the Philippines. Offering unregistered securities in country’s with regulated financial markets constitutes securities fraud.

Pursuant to MetaMax committing securities fraud, the Philippine SEC states MetaMax has the characteristics of a “Ponzi Scheme”.

This aligns with BehindMLM’s May 28th published MetaMax review. Based on MetaMax’s business model, we concluded it was a task-based MLM crypto Ponzi.

The Philippine SEC warns promoters of MetaMax in the Philippines face fines of up to 5 million PHP (~$85,297 USD) and/or twenty-one years in prison.

The SEC’s MetaMax fraud warning is significant. As of May 2024, SimilarWeb tracked top sources of traffic to MetaMax’s .VIP domain as the Philippines (29%), Canada (28%), Afghanistan (11%) and the US (6%).

MetaMax is believed to be run by anonymous scammers with ties to Brazil. Since BehindMLM published its review, MetaMax has already abandoned one of its website domains (“”).

MetaMax’s remaining website domain (“”), remains online at time of publication.


Update 3rd July 2024 – MetaMax has collapsed.