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 !!!!
“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?
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.
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?
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.