Validus collapses, investor withdrawals disabled
The Validus Ponzi scheme has collapsed.
In an April 20th Telegram group post, Validus informed investors that withdrawals have been disabled.
The ruse behind Validus’ collapse is “back office upgrades”. Validus is claiming it will take 26 days to perform
a complete security overhaul and payment system update following the success of back office upgrades.
In legitimate business environments, changes are rolled out and tested on a mirrored platform. Once confirmed to be working they are deployed to live servers with little to no downtime.
The actual reason for Validus’ collapse is a decline in new investment. Specific dollar amounts can’t be provided but we can see SimilarWeb tracking a decline in traffic to Validus’ website:
For MLM Ponzi schemes, a decline in website traffic correlates to a decline in new investment.
While it works to separate investors from their money, Validus has dangled May 16th as a potential date for resuming withdrawals.
We expect this work to be completed on May 16, during which time withdrawals will be temporarily suspended.
However, our Gift Wallet remains fully operational and we encourage members to use it during this time.
Validus’ “gift wallet” refers to an internal mechanism through which investors can transfer backoffice funds to each other.
This is typically used as a recruitment tool, allowing scammers to accept money direct from their victims.
Once payment has been received, recruiting scammers then dump worthless Validus backoffice funds on their victims through the gift wallet.
Validus’ withdrawal liability remains the same but no new money enters the company.
Pending further updates, gift wallet recruitment is now the only way Validus promoters can continue to steal money.
Validus is a Dubai-based Ponzi scheme run by former OneCoin scammers Parwiz Daud and Mansour Tawafi.
Originally from the UK, Daud and Tawafi fled to Dubai after OneCoin.
Validus’ collapse follows regulatory fraud warnings from New Zealand, Australia and Belgium.
At the time of its collapse, SimilarWeb tracks top sources of traffic to Validus’ website as France (19%), Colombia (11%), Brazil (10%), the UK (9%) and the Netherlands (7%).
Ted nuyten was “consulting “ this company along with IX Global.
the end of Validus is “On schedule”. Right on time.
There members I know have moved to the latest ponzi scheme in town. It will take a miracle for validus to bounce back.
It was growing too big too fast. People are still believing they will pay after 16th May.
What members don’t realize, Its giving them time before members actually report them. By that time all monies will be filtered through various companies, and all crypto will be stored off line.
Fools for those people that joined!!
Validus management is ordering the leaders to keep recruiting during the payment outage !!!!
——-Mansour Tawafi——-
“we need the volume to increase, not decrease.”
“Anyone who slows down now is just shooting the company in the foot. Let’s keep all our promises together.”
————VALIDUS MANAGEMENT MESSAGE ————-
Listen up people!
I’m based in Bradford UK. I just come off a zoom with Danny Islam. Basically they want people to carry on recruiting.
Apparently people recruit will still be able to withdraw bonuses. I got kicked of the call for asking too many in depth questions.
I am so annoyed i will be contact the authorities on Monday. I have taken a few recordings of the call.
They told us to ignore this website. Which i am not.
This is not going to end nicely. they just want us to recruit recruit.
Thanks for your article, you are now my first port of call.
Begging for new investment while pulling a “server upgrades” exit-scam is a pretty big tell.
This is also a big tell. “We’re not paying anything out but top recruiters do it or else.”
Duke, do you have a link for their Zoom call?
Zoom: us02web.zoom.us/i/81470653324
password: 097982
Sunday 23rd 20h00 french time .
Duke, where did you get that statement from Mansour Tawafi?
This is a dumb speculation.
They were having a system upgrade to smart contracts.
Upgrading a smart contract is clicking a button. Does it take almost a month to update Windows?
Replacing one smart contract with another is less CPU intensive than updating Windows.
The only thing worse than falling for crypto Ponzi excuses is running around parroting the bullshit.
Any news ? it looks like withdrawals are available again.
I haven’t seen anything obvious. Stopping withdrawals will buy them some time.
Math is math though and if new investment isn’t there kaboom again.
edit:
Lolololol.
Any member of validus can confirm they can move out there money from validus?
So far nothing. I processed 5 days ago. Only big leaders getting withdrawals.
Thanks for this article. It’s 100% true. Validus is a scam!!
Looks like you were all wrong.
Just to remind you too that withdrawals are only available on Thursdays 7am for a 24 hour period or something.
I understand the skepticism and I encourage it, but validus keeps proving themselves thus far.
There’s nothing to be wrong about; Validus is a Ponzi scheme that collapsed.
Math is math and it’ll eventually collapse again.
Perhaps you can ask Validus to prove itself to financial regulators instead of operating illegally and committing securities fraud?
*crickets*
You are wrong. payments were stoped for more than a month, and amongst the ones who asked for a withdraw on 16th may, very few have receive anything.
Now, they claim there are too many request for processing that fast .
That and there’s some new iP vErIfIcAtIoN bullshit:
LoL. What is the relation between the IP address and the payment ???
No one in the payment industry ever control the IP address for issuing any payment.
Most of people have dynamic IP address. this doesn’t mean anything. and what about those who are using a VPN ?
This is a real Bullshit excuse.
I submitted a withdrawal request on the 25th of May. I’m still yet to get my withdrawal of my btc. When I log into the website it shows the transaction is pending.
I guess the company is really going bankrupt.
They said they were having processing delays in recent telegram messages.Let’s see how long they persist for.
No, the “company” (Ponzi Scam) is not going bankrupt. They raked in (Stole) a lot of money.
They are simply in the process of closing shop and walking away with their profits (This includes your funds)
In a global call over the weekend Validus VP for South America Amdador Ramirez (think that’s how you spell it) announced he was stepping aside from the company to focus on other projects he was involved with… still tryna wrap my head around how significant this might be. He was a regular on global calls.
Amador Ramírez is being cited as part of diversofx another bs “trading” company:
criptomonedas.eu/noticias-criptomonedas/estafas/diversofx-plataforma-ganancias-20-mensual/
20% monthly return, yeah right.
Hilarious How to become Crown Diamond in 90 days manual of instructions.
I only skimmed it, but boy oh, boy; it is quite something!
Sections:
* Find your “COSO” (Mexican slang with many uses, but in this case is “that something you want to achieve”)
* Make a list of names (of potential victims)
* Outline the list (read as “find the “ideal” people for MLM or dumb enough to work for you”)
* Contact and invite those people
* The expert’s Triangle (a three person (Expert, Prospect -or potential client- and you -the middle man who wants to climb the Validus’ ladder-) structure of collaboration to create a “marketing ecosystem” ) This document even includes a message/email template for try to get new “prospects”.
* Prospect Follow-up and Duplication a shameless set of instructions (6 steps) for knowing when and how to contact your “prospect”
* Technique and strategy
A detailed explanation of the numbers required to become Crown Diamond :
An example of the ideal recruiting progression:
ibb.co/8zTWMQB
And someone forgot to delete this and other training materials (still) available here:
scribd.com/user/594551435/Sistema-Integral-De-Emergencias
TL;DR: Have no morals, recruit a bunch of people into a Ponzi scheme = money (you stole from them).
It is sad that many people have been robbed of their hard money by these crooks. I hope they die a slow painful death.
This is definitely a ponzi scheme and people recruiting people into this ponzi scheme are heartless and will die a slow painful death.
In a new video Hicham Laarej, the VP Europe of Validus explains why there was a temporary blocking of withdrawals and why during the reopening withdrawals take time to be paid.
youtu.be/weQx4ljTOdU
So according to him the transition to the new back-office led to a series of bugs which meant that some people were paid 2x and that’s why Validus decided to close temporarily withdrawals for 1 month to solve the problem.
When they reopened, they put set up a manual comparison (IP address comparison lol) for withdrawals to check who had already been paid and who was yet to be paid…
So we wonder why they closed withdrawals for 1 month? Wasn’t it just to solve these problems?… it’s not the only contradiction we will ever see.
That’s a load of baloney.
It’d take all of 2 minutes to work out why some people were paid 2x and fix the code. As for the payments that went out, you can’t reverse blockchain transactions so nothing they can do there except request transfers back and/or close accounts.
None of this takes a month and, as you noted, explains the ongoing withdrawal problems.
On the other hand, Ponzi go boom explains everything.
The most funny in Hisham speech is when he says at the right beginning that he is the one who asked for this new back office.
SO people can start to blame him 🙂
Other than that, the excuses are the same as for Omegapro. same shit.
Ted nuyten was “consulting” Validus and ix global in dubai …… no wonder he is in bandages.
Validus message : Update on Withdrawals
So nothing new still the same loop.
May the owners rot in hell!! No withdraws for 6 weeks. Im a reporting Danny Islam to all local authorities.
Only big recruiters are being paid.
Please please don’t send your money to them.
Thankyou for all articles in reference to Validus.
Many promoters are being investigated. Unfortunately UAE Is out of our jurisdiction. Many Uk and Europeans are in the radar.
Validus leaders reappeared!
youtube.com/watch?v=Wjh1cWrUGCg
Long video full of promises and bs positive thinking(of course) addressing their victims, I mean, investors. and a promise of opening a Validus Office in LatAm!!!
221 subscribers and 2 videos for the official channel it’s a bit sad (even more considering they said having an audience of almost a thousand people during this zoom call).
Is this a scam or not, are they goung bust or not. are they in geniune difficulty or not, will they survive or not.
The answer to these questions is they will go bust and we will lose all if we carry on like this.
Even banks go bust once everyone acts like rats. I am worried and scared but There is nothing to do if they go down, why nobody tries torally to help and save.
People we the investors lose if it goes down so why try to cut our own necks. alternatively If its knowing and willing scam lets find a way to cut their necks.
First lets give them a fighting chance to overturn th present difficulty.
BehindMLM isn’t here to help you GeT yOuR mOnEy BaCk. Research into MLM companies is published as early as time allows.
If you’re coming on here after the fact there’s nothing anyone can do. You gave your money to scammers.
Math is math. There is no “overturning” math.
May they rot in hell for scamming the people like this , using Islam to build the trust of the people and then running with there money.
I’d like to mention a couple of the rats ,we all know the ones on top but it’s there flying monkeys who are also responsible that made millions like Danyal Islam from Darnall , Humraz khan , Naveed Zaman from pitsmoor , (Ozedit: threats removed).
Danny boy thinks he’s safe in Dubai , You can never escape gods justice my boy it’s coming for you it’s coming for all of your who profited.
No withdrawals for 46 days now!!! They keep blaming it on a “faulty” main wallet, but do they think we’re stupid?
The only ones that can withdraw are people that have money on their active wallet. How do you get money on your active wallet? By recruiting others, that’s how.
Fkin scammers, rot in hell.
the 46 days and previous months was the time required in order to exit and begin setting up wallets and website for the next scam.
it takes a couple months and a bit of planning but these guys have experience scamming people.
The next scam will be reviewed by Oz, new victims will come in defence of the new company and the cycle will continue again, with people crying that withdrawals have been disabled.
And to answer the last question, yes they do think people are stupid. They are banking on it.
Most people who invested saw the signs, saw they previous scams the leaders were in, most of them ONE COIN as published here and on youtube, but you all chose to turn a blind eye and say this time they are genuine. Some of the comments that were defending Validus was cult like.
There was one comment which made me laugh. ‘All the leaders are muslim, they wont scam’…
Yes as Stan says above, this will also happen again, the next one will be genuine (LOL) and its a repeated cycle.
Forex traders but only accept crypto. I mean come on. Can you not see all these scams, cashfx, omega pro, validus all will be repeated and you all think this is the one.
They’re still trying to actively get people to invest and get current investors to invest even more money.
My uplines keep saying to me that you become very successful if you just work really hard at it and make hundreds of thousands of dollars like they do, but what they forget to tell you is that you also have to have no morals to be able to scam all these people without guilt.
They dare to speak the name of God or Allah and use religion to get to their victims when in reality they even do things that are immoral and illegal.
What everyone seems to forget here is the fact that you started in a company created by scammers who stole millions from people in Onecoin. Why do you expect another outcome here besides you being naive?
People with no ethics no morals no empathy are only after one thing EASY money out of your pocket.
The “half-life” of a company like this is very short. But the gift that keeps on giving, is their “sucker-list”.
The list of people who are willing to re-enlist in each new scheme – desperately hoping to be one of the early sign-ups. It’s the only way they stand to recoup the money they made in prior MLM companies.
Just like on YouTube, there are people still saying “I’m interested” – some dude responds to them instantly. It’s all very sad really.
Lol so my funds that I withdrew on may 16th came back to my wallet but it came back in my “main” wallet, which is disabled for withdrawals because of “”bugs””.
The only thing I could do with those funds was move it to my gift wallet, but from there you can’t withdraw either.
Before you could use 50% of a new packs value to pay for it through your gift wallet, but they made it 0% now meaning both main and gift wallet are now 100% useless.
My funds are stuck with no way to retrieve it.
Hi guys,
Any news so far, the latest I heard that withdrawal will resume in Jan-24?????
Latest news: Validus is a Ponzi scheme. Your money is gone. Sorry for your loss.
I am one of the stupid ones. Not only I invested 27000 usd on april 22, I have I have invested 22000 on june 23 as well even though I didnt get previous earnings.
I refused to believe it to be scam and wanted to help validus recover. To dream and wish is free but unfortunately, acting stupidly its very expensive.
HOWEVER Allowing thesee people to go scot free is even more wrong. We should Learn, to Unite, get together and make sure to set an example.
It may be costly, it may take time, it may take effort and it may not be successfull BUT it could be satisfying and prevent repetition IF we can succeed as we should.
PS I gave my details anyone wishing to communicate/contact I shall be awaiting.