“Click a button” app Ponzi scammers arrested in India
Indian authorities have made arrests in relation to two “click a button” app Ponzi schemes. [Continue reading…]
Torque Trading’s Bernard Ong sued by Ponzi’s liquidators
Liquidators of the collapsed Torque Trading Ponzi scheme have filed a lawsuit against CEO Bernard Ong Hock Fong. [Continue reading…]
Berry trading Ponzi collapses, IPO exit-scam & recovery fees
The Berry Ponzi scheme has collapsed.
Withdrawals have been disabled, and investors are being fed multiple exit-scams. [Continue reading…]
Manifest securities fraud continues through Simply Success
Securities fraud Jimmy Bennett started with Manifest FX continues with Simply Success.
Simply Success operates from the website domain “simply-success.me”, privately registered in April 2022.
The current website appears to have gone live on or around January 2023. It’s difficult to pin down a specific date, as Simply Success hides their website from crawlers: [Continue reading…]
HyperNation Ponzi collapses, rebooted as Satoshi AI
The HyperNation Ponzi scheme has collapsed.
Circa February 28th, the scheme was rebooted as Satoshi AI. [Continue reading…]
NovaTech FX’s exit-scam complete, payouts disabled
The reality of an announcement issued by NovaTech FX last week has been clarified over the weekend.
As of May 11th, NovaTech FX has ceased paying out weekly returns and recruitment commissions. [Continue reading…]
Jayms blames One Ecosystem’s collapse on Georgi Georgiev
Following on from the announcement he’s leaving OneCoin earlier this week, Cordel “King” Jayms has put out a video going into greater detail.
Titled “King Jayms’ Final Decision”, the video was uploaded to Jayms’ personal YouTube channel on May 13th, 2023. [Continue reading…]
Entry of Default granted in Emerson Pires’ MCC fraud case
The SEC has secured an Entry of Default against Emerson Pires in his Mining Capital Coin fraud case.
As with his parallel EmpiresX fraud case, Pires failed to file a response to the SEC’s Mining Capital Coin lawsuit. [Continue reading…]
Axneb Review: “Asset management” themed MLM crypto Ponzi
Axneb fails to provide ownership or executive information on its website.
Axneb’s website domain (“axneb.com”), was privately registered on February 10th, 2023.
In an attempt to appear legitimate Axneb provides a corporate address in London, UK on its website.
This address corresponds to a random shopfront that doesn’t appear to have anything to do with Axneb. It is unlikely Axneb has any actual ties to the UK.
SimilarWeb currently tracks top sources of traffic to Axneb’s website as Russia (22%), Brazil (9%), the US (9%) and Italy (5%).
On April 3rd, the Central Bank of Russia issued an Axneb pyramid fraud warning.
Although not definitive, this is a decent indication that Axneb has ties to Russia.
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…]
Mosaic Alpha Review: Ilgon scammers launch Kodexa Ponzi
Mosaic Alpha operates in the cryptocurrency MLM niche.
Mosaic Alpha fails to provide a corporate address on its website. The company’s website Terms and Conditions states:
This Agreement and your access to and use of the Site will be governed by the laws of the British Virgin Islands.
This is a red flag due to the BVI being a tax haven with no active MLM fraud related regulation.
Mosaic Alpha’s marketing material cites Evo Dynamic LLP, a shell company purportedly incorporated in Canada.
Cited as Mosaic Alpha’s “core team” on its website, we have co-founders Attila Vidakovics and Peter Molnar.
Vidakovics and Molnar are known to BehindMLM as executives of Ilgon, a reboot of the collapsed Ilgamos Ponzi scheme.
BehindMLM reviewed Ilgon in June 2021. Since then both Ilgon and the attached ILGON shitcoin have collapsed.
Total Ilgon victim numbers and how much was lost to Vidakovics and Molnar are unknown.
In a nutshell, Vidakovics and Molnar are typical crypto bros with a string of failed projects under their belts – Ilgon now being one of them.
Both Vidakovics and Molnar are based out of Hungary. As opposed to the BVI or Canada, Hungary is where Mosaic Alpha is being operated from.
It should be noted that Mosaic Alpha’s Canadian shell company, Evo Dynamic LLP, corresponds to Novalus Prime.
Evo Dynamic LLP is present in the footer of Novalus Prime’s website. Novalus Prime also features in Mosaic Alpha marketing material:
A visit to Novalus Prime’s website reveals the company is in prelaunch:
This suggests a possible Mosaic Alpha reboot is already in the works. For reference, Mosaic Alpha only launched last November.
Read on for a full review of Mosaic Alpha’s MLM opportunity. [Continue reading…]
