Mind Capital transitions to shitcoin exit-scam, multiple tokens
Rather than address the multiple securities fraud warnings issued against it, Mind Capital is now pretending they are based out of Kazakhstan.
Oh and they’ve also initiated a shitcoin exit-scam, with multiple tokens.
Mind Capital is a simple Ponzi scheme marketing a 1.8% daily return. The company is run by scammers out of Spain, headed up by figurehead Gonzalo Garcia-Pelayo (right).
To date securities fraud warnings have been issued against Mind Capital in the Spain and the US. Mind Capital is also banned in Italy.
To that end Mind Capital has turned to Kazakhstan, a country not known for actively regulating securities fraud.
Mind Capital claims its going to open offices in Kazakhstan, but for now appears to exist there only on paper.
In late October Mind Capital incorporated the shell company Mind Capital Tech S.L. Mind Capital Tech S.L. has also been registered with the Astana Financial Services Authority, which appears to be Kazakhstan’s SEC equivalent.
It’s worth noting that this doesn’t mean Mind Capital has filed any audited financial reports with the AFSA. And also that registration with the AFSA has no bearing on securities fraud committed by Mind Capital outside of Kazakhstan.
It should come as no surprise that Kazakhstan is not a primary source of new investment for Mind Capital. The Ponzi scheme is currently primarily active in Mexico, Argentina and Venezuela (Alexa).
Mind Capital is not registered to offer securities in any of those countries and operates illegally.
Coinciding with a decline in website traffic over the past three months, which puts MLM Ponzi schemes on the road to collapse, Mind Capital has initiated a token exit-scam.
Rather than continue to pay out in bitcoin, Mind Capital now pays out in worthless MCcoin.
MCcoin is an internal token that has no value outside of Mind Capital. Affiliate investors cash out MCcoin for as long as Mind Capital lets them through an internal exchange.
The exit-scam comes into play when Mind Capital decides they don’t want to pay out anymore.
Mind Capital’s admin team keeps what’s left of invested bitcoin (on top of what they’ve already squirreled away), leaving affiliate investors bagholding a token they can’t do anything with.
On top of this Mind Capital is also initiating what they’re calling “Nemesis Tokens”.
At mind.capital we have created a series of our own tokens based on different crypto-assets.
Each group of crypto-assets of NEMESIS has a net asset value that is tokenized and is not correlated with the market.
As with MCcoin, Nemesis tokens are worthless. Mind Capital creates them out of thin air using whatever shitcoin scrip they’ve purchased.
In a nutshell, MCExchange, Mind Capital’s internal exchange, is now a Ponzi shitcoin factory.
At mind.capital we have created a series of our own tokens based on different crypto-assets.
Each group of crypto-assets of NEMESIS has a net asset value that is tokenized and is not correlated with the market.
When you buy the tokens on MCExchange you are automatically participating in the different crypto-assets that make it up according to the percentage that each one represents.
Launch a new token, milk affiliate investors for more bitcoin, wait till investment slows and then launch another new token, milk affiliates again… and keep doing this until it’s not feasible.
Cue exit-scam and sorry for your loss.
Remember that Mind Capital launched under the guise returns would be generated via a trading bot. If that was the case (which it isn’t), there’d be no need for Ponzi shitcoin shenanigans.
Mind Capital is now following the trajectory of your typical MLM crypto Ponzi scheme, trying to fend of inevitable decline.
Math is math and the majority of investors in Ponzi schemes are guaranteed to lose money.
Update 14th August 2021 – Mind Capital’s exit-scam is complete, prompting the company to pull its website offline.
Update 14th December 2023 – Turns out Mind Capital was run by David Saffron and Vincent Mazzotta.
Saffron and Mazzotta have been indicted. Saffron was arrested last year and Mazzotta sometime over the past week.
That’s bullshit. Pretty much all the things you wrote here are false.
And they are far from paying 1,8%/day.
What exactly is bullshit and what exactly is false?
Simply stating facts are bullshit and false doesn’t make said facts bullshit and false.
Well duh, regulatory attention and recruitment going down will do that to a Ponzi scheme. Nonetheless that’s what Mind Capital advertised.
Nemesis, now there’s an excellent name.
“The personification of retribution or righteous indignation, especially that of the gods at human wrongdoing”, to quote a dictionary.
Just the kind of associations you want for a safe, very definitely not scammy at all, investment.
Thats the truth! They about to scam everyone. It real fraud.
I invested my self. Suddently they demanded KYC. A few people got there money back, but with high fews and they kept the profits for there own!
Now the support does not answer anymore. They delay the process, so they can make a exit scam with the rest.
It is true.. They kept all of the profits made for themselves. And did initiate an almost impossible and irritating way through KYC to qualify to receive a certificate in order to get your purchase amount returned.
I guess I was one of the lucky ones because I hounded them with emails constantly demanding answers.
I got an original purchase back, which in essence means I DID NOT lose any money. But they did not return all of my other purchases of the investment returns I had gotten which they promised.
They are a bunch of crooks.
My my, what a surprise. As soon as I saw Simon Stepsys promoting it. I said to myself, that it will crash or turn out to be a scam.
Just Google all the programs he has promoted in the past. All gone, leaving thousands of people out of pocket.
I do wish people would do some research before they jump onto the next shiney object.
Simon Stepsys was still promoting this SCAM November 22, 2020 via a marketing email with the subject:
“URGENT! Last chance to join MindCAPITAL!”
The mindcapital.biz website?
“Website Under Maintenance
Sorry for the inconvenience”
SD