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

ASIC added Qwidex to its Investor Alert List on August 5th, 2025.

[Qwidex] 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 unregistered financial services to Australian consumers constitutes securities fraud.

Qwidex is an MLM crypto Ponzi fronted by Boris CEO “Chase Coleman”.

The actor playing Coleman has an eastern-European accent. And as of two weeks ago, the actor was still playing Coleman on Qwidex’s official YouTube channel:

The actor playing Coleman having an eastern-European accent ties into most Boris CEO Ponzis being run by Russians, Ukrainians and/or Belarussians.

ASIC issuing a securities fraud warning ties into Qwidex falsely representing it is based out of Australia.

While the scammers behind Qwidex did register the shell company Qwidex Pty Ltd in Australia, beyond that Qwidex has no actual ties to Australia.

ASIC are known for non-timely regulation of MLM fraud. Case in point ASIC issuing a Qwidex fraud warning almost a year after Qwidex began defrauding consumers.

Furthermore anyone can register a company with ASIC using whatever bogus details, there is no verification.

For this reason ASIC registration is favored by scammers residing outside of Australia.

Qwidex originally launched on the website domain “qwidex.com”, privately registered in December 2023.

Last month Qwidex rebooted on the domain “qwidex.io”, privately registered on August 7th, 2025.

Rather than be honest about why it rebooted on a new domain, on August 7th Qwidex told investors the

change is part of a series of technical and organizational improvements aimed at enhancing the stability, security, and scalability of our infrastructure.

The new domain also better reflects the company’s current direction in the digital space.

It’s unclear what changing website domains has to do with any of the above.

Considering Qwidex’s new website domain was registered just two days after ASIC’s fraud warning, it’s likely the new domain is an attempt to stay ahead of regulators.

Unfortunately SimilarWeb doesn’t have any tracking data for Qwidex’s new website domain yet. Traffic to Qwidex’s original domain appears too low for SimilarWeb to have tracked.