CAT Bot has no website, it operates through the Telegram bot “@caterpillar123bot”.

Note that as at time of publication, Telegram has already marked the “@caterpillar123bot” as a scam:

As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money. [Continue reading…]

Defily fails to provide ownership or executive information on its website.

Defily’s website domain (“defily.ai”), was registered in January 2024. The private registration was last updated on April 2nd, 2025.

Over on Defily’s official YouTube channel we find marketing videos featuring Parwiz Daud:

Daud is a serial MLM crypto Ponzi fraudster dating back to OneCoin. Daud’s last Ponzi, prior to Defily, was Validus.

Daud launched Validus back in 2021 with fellow OneCoin scammer Mansour Tawafi.

Following regulatory fraud warnings from New Zealand, Australia and Belgium, Validus collapsed in April 2023.

Dubai eventually issued a belated Validus securities fraud warning in December 2023.

Mansour Tawafi launched Odecent, an unregistered MLM trading bot scheme,  in mid to late 2024. Daud seems to have prelaunched Defily around the same time.

Daud, who fled the UK as OneCoin took off, is still hiding out in Dubai. And it is from Dubai that Defily is run.

Due to the proliferation of scams and failure to enforce securities fraud regulation, BehindMLM ranks Dubai as the MLM crime capital of the world.

BehindMLM’s guidelines for Dubai are:

1. If someone lives in Dubai and approaches you about an MLM opportunity, they’re trying to scam you.
2. If an MLM company is based out of or represents it has ties to Dubai, it’s a scam.

If you want to know specifically how this applies to Defily, read on for a full review. [Continue reading…]

Pimco CCI has no website, it operates through a Telegram bot “@pimcocci_bot”:

Update 6th May 2025 – Pimco CCI also operates from the Telegram bot “@pimco666bot”.

As at the time of this update Telegram has already marked the “@pimco666bot” bot as a scam:

/end update

As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money. [Continue reading…]

Solbox fails to provide ownership or executive information on its website.

Solbox’s website domain (“solbox.ai”), was privately registered on March 21st, 2025.

As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money. [Continue reading…]

Canaan Mining fails to provide ownership or executive information on its website.

Canaan Mining operates from two known website domains:

1. canmining.com – registered with bogus details on March 20th, 2025
2. canmining.cc – registered with bogus details on March 26th, 2025

Both of Canaan Mining’s domain were registered through the Chinese registrar Alibaba (Singapore).

As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money. [Continue reading…]

X-Capital fails to provide verifiable ownership or executive information on its website.

X-Capital’s website domain (“x-capital.io”), was privately registered on June 11th, 2024.

Despite only existing since mid 2024 at the earliest (X-Capital doesn’t appear to have launched until September 2024), on its website X-Capital falsely represents it launched in 2018.

While X-Capital does provide a list of executives on its website…

None of them exist outside of X-Capital’s website.

CEO “George Chuen” appears in a marketing video, uploaded to X-Capital’s official YouTube channel in September 2024.

It’s your typical rented office production, supporting X-Capital’s executives being played by actors. The actor playing George Chuen appears to have a Malaysian or Singaporean accent.

This potential ties in to X-Capital providing a corporate address in Malaysia on its website. X-Capital also represents it operates through X-Capital DCI, a Malaysian registered company.

X-Capital DCI is a renaming of Onifie SDN BHD in July 2024. Onifie SDN BHD was registered as a Malaysian company in February 2021.

“Loh Fei Chuen” could be the actual name of George Chuen. It could also just as easily be a fictional/stolen identity.

The sole registered shareholder of XCapital DCI is Dmytro Sviatokha, aka Svytokha Dmitry Vadimovich, Dmitry Velichko and “Polyak” (Святоха Дмитрий Вадимович).

A 2021 report from the website Let’s Save the Country (Спасём Страну), cites Svytokha as a Ukrainian national with ties to organized crime.

Svytokha purportedly has ties to Dubai and pushes crypto scams through his wife Alina Varakuta, aka “Crypto Barbie”.

Of note is X-Capital providing a “trading office” address in Dubai.

Putting all of this together, X-Capital appears to be run by Eastern European scammers hiding in Dubai. Instead of running X-Capital themselves, Dmytro Sviatokha and associates are hiding behind Asian actors.

Sviatokha and associates could also be working with organized crime interests in Malaysia and/or Singapore.

Other names we can attach to X-Capital are Goh Kok Wei, Lim Pei Vern, Chen Yung Chiat and Lim Pooi San:

Due to the proliferation of scams and failure to enforce securities fraud regulation, BehindMLM ranks Dubai as the MLM crime capital of the world.

BehindMLM’s guidelines for Dubai are:

1. If someone lives in Dubai and approaches you about an MLM opportunity, they’re trying to scam you.
2. If an MLM company is based out of or represents it has ties to Dubai, it’s a scam.

If you want to know specifically how this applies to X-Capital, read on for a full review. [Continue reading…]

The long-running TelexFree class-action has been denied class certification.

The April 8th decision is a massive stumbling block in the case, originally filed back in October 2014. [Continue reading…]

AkashX has received a securities fraud warning from New Zealand’s Financial Markets Authority (FMA).

As per the FMA’s May 2nd AkashX warning; [Continue reading…]

ArbiSmart has been ordered to cease committing securities fraud in Italy.

As per an order published by CONSOB on April 30th, ArbiSmart has been found to be illegally offering investment services to Italian residents. [Continue reading…]

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

ASIC added Barnaje DAO to its Investor Alert List on April 7th, 2025. [Continue reading…]