The TexitCoin MLM crypto Ponzi has collapsed.

TexitCoin has been luring investors in on the promise of up to 900% over the past few months. In the lead up to the holiday season however, TexitCoin’s TXC shitcoin has collapsed.

As per the CoinMarketCap chart above, TXC plummeted from just under $4 to ~$1.60 between December 6th and 12th. TXC further plummeted to 83 cents on December 23rd.

Either new suckers have been found over the past 24 hours or wash trading has since pumped TXC back up to $1.32 (down 62.22% month on month).

Normally I’d just put this down to standard MLM crypto Ponzi shenanigans and wait for TXC to completely dump before calling TexitCoin’s collapse.

In addition to the timing of TXC’s dump, there are indicators beyond that strongly suggest a collapse.

First up we have TexitCoin’s marketing website being disabled:

TexitCoin’s technical website is still up on a separate domain (“minetxc.com”), allowing investors to see their losses.

Furthermore, TexitCoin appears to have abandoned some of its social media profiles:

  • TexitCoin’s last Telegram channel post was December 19th; and
  • TexitCoin’s last Instagram post is dated November 22nd

Of particular note is the last post on TexitCoin’s official Instagram profile:

So where is TexitCoin founder and primary beneficiary Bobby Gray?

He’s on social media begging TexitCoin promoters to recruit new investors. TexitCoin’s official FaceBook and Twitter profiles are still seeing marketing posts made to them.

Other than a December 16th post urging investors to “keep calm” as TXC collapsed, I haven’t seen TexitCoin official address the TXC dump.

Roughly fifteen hours ago, Gray appeared in a cell phone video uploaded to TexitCoin’s FaceBook and Twitter profiles:

“How are we supposed to sponsor anyone when we don’t have a path to ($)16?”

So that was a strong selling point and now we don’t it. Sorry.

Remember, if you’re selling based on the price and the price doesn’t go in the direction you want it to go, it’s gonna be difficult.

Go back to the basics. Use the original introduction and invitation. People will join us. It will work. It worked in the past and it will work even better now.

With the first wave of TexitCoin investors suffering inevitable losses, it’s unclear why new investors would sign up to lose money.

Gray, a US national, is believed to still be running what’s left of TexitCoin from Thailand.

Pending TXC dumping to $0 and/or authorities launching an investigation, total TexitCoin investor losses are unknown.