Cermak, a reboot of the collapsed Skainet Systems Ponzi scheme, has collapsed.

Cermak, aka CermakFX, was a trading ruse Ponzi scheme launched shortly after Skainet Systems collapsed last month.

Skainet Systems victims were pitched on a typical trading bot ruse, wherein they were promised 50% of generated profits.

Cermak pitched Skainet Systems victims on as much as 30%+ a month:

Attached to Cermak’s unregistered fraudulent investment scheme was an MLM compensation plan:

Cermak was on BehindMLM review list but, before we could get to it, on July 21st the company announced its collapse.

After three months of dedicated efforts, we regret to inform you that we have not been able to attract a sufficient number of clients or secure the necessary funds to sustain our current copy trading operations.

As a result, our partner traders have made the decision to suspend their activities on our platform.

We are fully committed to keeping you informed, and we will update you as soon as we have concrete developments to share.

As it stands Skainet Systems and Cermak investor losses are unknown.

Skainet Systems launched in mid 2024. The scam was was fronted by Michael Baur, a German national hiding in Dubai.

Cermak didn’t disclose ownership details, but being an immediate reboot it’s likely the same scammers were behind it.

Cermak didn’t last long enough to attract new regulatory attention. Skainet Systems fraud warnings were issued by Germany and Russia.