Swapnex exit-scam complete, website pulled & COTP blamed?
After four days of waiting for “number to go up”, the scammers behind Swapnex have given up and pulled the plug.
I’m not sure why, but they’re also trying to pin the blame on COTP.
Earlier today Swapnex advised investors it was disabling daily returns calculations.
Unfortunately, we have to temporarily stop accepting new orders in both manual and auto trading modes. Payments for all the previous orders are also stopped until the situation changes.
This was mostly a token gesture seeing as withdrawals were restricted earlier this week.
About an hour ago whatever exit-scam Swapnex was pulling behind the scenes finished, so they pulled the plug.
Dear clients!
Our biggest broker has refused our query to refund the money we sent them to execute orders.
In addition, the Swapnex website is constantly subjected to DDoS attacks by this broker. It is a COTPS company. Through it, we have been running our orders and making payments.
As you may remember, we are not a classic arbitrage platform. We are merely an intermediary between you and the market.
According to the Swapnex Terms and Conditions, we are not responsible for any financial losses and risks that the cryptocurrency sphere involves.
From this moment, our website stops operating, and all liability for your debts is the COTPS’s responsibility.
The stuff about brokers is bullshit. DDOS is an exit-scam cliche. Blaming COTP appears to be part of the exit-scam.
Swapnex was a Boris CEO Ponzi scheme run by Russians. COTP is a Ponzi scheme run from Asia.
I can’t 100% rule out the possibility Swapnex and COTP aren’t run by the same scammers but it’s unlikely.
The rest of Swapnex’s update is basically “sorry for your loss”. A reminder to investors that any “how do I get my money back?” comments left below will be marked as spam.
Of the MLM crypto Ponzis doing the round prior to last week’s crypto crash, Metafi Yielders and COTP are the only two still stringing investors along.
Metafi Yielders disabled withdrawals yesterday. They’re supposedly supposed to be open again but I haven’t seen any confirmation.
Regardless, Metafi Yielders has also implemented withdrawal restrictions till mid June.
COTP first blamed the TRON blockchain, now they’re pulling the old “SMS verification problems” baloney.
COTP were supposed to have their technical issues fixed yesterday but I’ve also seen no confirmation of that.
At time of publication Swapnex’s website and socials were still online. We’re expecting they’ll disappear sometime over the next 24 hours.
Update 20th May 2022 – Swapnex has redirected their website domain to COTP’s website.
Whatever bullshit they come up with, there’s one and only one reason an MLM Ponzi stops paying out.
Kaboom.
I am a COTP investor, having read through the stuff that you guys put up here I begin to wonder if there is still hope of COTP bouncing back again and what’s the faith of her investors. Pls I need urgent response. Thanks.
Whatever bullshit they come up with, there’s one and only one reason an MLM Ponzi stops paying out.
Chukwuka – you were not an “investor” – you were someone who contributed money to a simple Ponzi scam. You need to stop hoping for someone else to rescue you.
Your greed cost you. It’s tough love but I hope you learn not to fall for any get rich quick scams again.
To make money takes time, effort and skill. Stop believing there is any other way.
Now now Boris, that’s not very nice.
I wonder if “it was China!” will catch on as a Boris CEO exit-scam…
Oz have a look here: twitter.com/RugDocIO/status/1527332078160732196
“exit scammed their users for over 7 digits”.
Been waiting for 3 day for withdrawal but nothing. Lost £100 so no biggy.
I generally ignore these, but I actually saw this collapse. Glad I didn’t put any money into this, your site was helpful.
Someone in Church told me about it, then I heard about it from someone in another country, I looked at it and thought “this can’t be real.”
These guys are clever sometimes though. The Swampnex backoffice was a way more convincing disguise than most stuff out there.
I joined their Telegram group and watched the whole thing go down in days. I mean, they just straight up stole millions of dollars.
I would bet that they just stole $50 or $100 million with the amount of people that were joining that thing. I mean, I am guessing. But there was I think 5,000 people joining that thing a day.
The guy at Church who told me about it first, he put in $10,000 to it. The other guy I know had literally just put in $2,000.
That’s just two random people, neither of which are rich people. They had people putting in a whole BTC and things.
As I said, I haven’t looked at their crypto addresses, but they probably had a LOT more than a million dollars that they just stole.
If you can ever find these people and expose them, it would be good for everyone.
The thing about crypto, is it is very easy for people to hide for a long time if they know what they are doing. These schemes pull in a LOT of investor cash. Millions of dollars a day many times, fast.
They could have just yanked $100 million or more away. In the group there was people talking about suicide and everything.
@Mustang
Not surprised. Old mate Eddy Alexandre managed to rack up $59 mill in a few months with EminiFX. Swapnex launched mid last year.
@David
Swapnex etc. are Boris CEO Ponzis. They all come out of Russia with the occasional SE Asia clone for good measure.
Suspected ties to organized crime. Russian authorities aren’t going to do anything about them.
They’ve carved out a niche for themselves which is amusing to track. Millions upon millions in mounting investor losses over the years aside.
What can say? They took my money.
@David Wood
I posted the swapnex ERC20 address at the bottom of the original swapnex review page:
0x8b8a4abc707f16da24b795e3e46ed22975a9d329
This address keeps getting inflows as of today. Someone mentioned it’s the same address used by Metafi Yielders 🙂
Would be nice to have feedback from a Metafi player to confirm and expose the branches of this rotten tree.
I have seen this around too. Anyone in both Swapnex and Metafi Yielders should be able to verify.
And their trc20 address from which they paid:
TW3WXRdrzU61oVdu8uQyxzGVfYefGqkCmt
8 millions of TRX on that one.
Same as erc20, there are some small movements… this address is still used in an other scam, for sure
—————————————
Here is all what I could get for the addresses they used :
BEP20 BSC
deposit : 0xd6a57e963e6800a9c858aef64a0725103498de4c
withdraw : 0xeccefab82bb383afc90b94c8d378de314e62ac5d
TRC20
deposit : TW4o2FkdzEswTXdi3XErQUTtQQAmm2wxvp
withdraw : TW3WXRdrzU61oVdu8uQyxzGVfYefGqkCmt
XRP
depo AND WD : rP8VvqTDeMtC7Vmp85CVvqJ5BH1QF3yvj3
Yesterday the ERC20 address used by Swapnex to send funds transferred out some 503,990 USDT to a single address (TXN Hash 0x528968c29e08da4f110b10a8e75e4dd2d58f7195666a0bec35c589ca9daf28df)
The recipient address now holds about 3M USDT:
etherscan.io/token/0xdac17f958d2ee523a2206206994597c13d831ec7?a=0xd3a15f89d193a2696da3da0ca62e3a32a4beb444