The Quinex Ponzi scheme has collapsed.

Following disabling of withdrawals on or around November 20th, Quinex investors are now being directed to sign up for a Coinage Bits reboot.

Quinex was an MLM crypto Ponzi fronted by fictional CEO Sebastian Abrego.

Instead of just being honest about Quinex being a Ponzi scheme that collapsed, investors were fed an exit-scam story about a “firewall attack”.

Recent updated to the company’s website led to a firewall attack which resulted in the company closing all transactions simultaneously and safely securing funds. Consequently shutting down the server entirely.

All funds are successfully secured and encrypted. All thanks to the company’s technical experts.

The Quinex website and all company links on the website have been closed and disabled for internal use to process feedback.

Backup funds successfully transferred to the partner website [Coinage Bits]. Kindly proceed with recovery investments and withdrawals through the partner website.

Around the same time Quinex deleted its official YouTube channel and hosted marketing videos.

Coinage Bits operates from the domain “coinage-bits.ltd”, privately registered on July 10th, 2025.

Not surprisingly Coinage Bits is another Ponzi scheme. Referral commissions this time are 8% down only one level of recruitment (non-MLM).

Quinex’s admin(s) claim existing account information will work with Coinage Bits. This means that either:

  1. the same scammers behind Quinex are behind Coinage Bits; or
  2. Quinex scammers sold investor details to other scammers.

Either way signing up to invest in Coinage Bits will result in additional losses on top of existing Quinex losses.

At time of collapse, SimilarWeb was tracking top sources of Quinex website traffic as the US (94%) and India (6%).

The total number of Quinex victims and how much they collectively lost is unknown.