Xaindex has received a securities fraud warning from the Australian Securities and Investments Commission (ASIC).

As per ASIC’s January 2nd warning, Xaindex

is likely to be offering financial services to Australian consumers.

It does not hold an Australian financial services licence or Australian credit licence from ASIC, and is not authorised by a licensee.

Offering securities without registration with ASIC constitutes securities fraud under Australian law.

Xaindex is a Boris CEO Ponzi scheme fronted by actors.

The scam’s “Master Distributor” is Moscow-based Dil Narzi (aka Mad Deuce, Dill MadDeuce).

In an attempt to appear legitimate, the Russian scammers behind Xaindex hid behind an Australian shell company.

Xaindex Technologies PTY LTD was registered with ASIC on November 30th, 2022.

Xaindex’s marketing claims are what likely prompted ASIC’s warning, albeit over a year after Xaindex Technologies PTY LTD was registered.