Earlier today, someone claiming to be an “industry observer” tried to convince me that affiliate autoship wasn’t a problem within Success By Health.

No idea if it’s a coincidence or not, but later the same day it emerged the FTC had filed a pyramid scheme lawsuit against the company. [Continue reading…]

The arraignments of Matthew Goettsche, Jobadiah Weeks and Joseph Abel were held on January 15th.

All three BitClub Network defendants pled not guilty to the charges the DOJ has leveled against them. [Continue reading…]

In a recent update published on the Zeek Receivership website, the Receiver revealed Zeek Rewards’ net-winners attempted to take their case to the Supreme Court.

Not sure how I’d missed it but this was certainly news to me. [Continue reading…]

Youngevity’s dispute with Wakaya Perfection dates back to 2016.

As I write this there are currently 679 filings in the long-running case, most of which are administrative.

As such I’ve been keeping updates on the case to a minimum, preferring to wait for substantial developments.

As per an order made on December 26th, the case has now been given a trial date. [Continue reading…]

It’s been roughly four and a half years, but John Wuo’s involvement in the USFIA Ponzi scheme has finally been explained. [Continue reading…]

If you’re running an MLM company with a passive investment opportunity baked in, you’re offering a security.

In order to offer securities legally, you need to register your opportunity with financial regulators in every jurisdiction you solicit investment in.

Simple enough. Well, not if you’re running Exchange Wallet.

In response to recent securities fraud warnings issued in Germany and Austria, Exchange Wallet’s founder has served up a porky pie sandwich. [Continue reading…]

Uforia Science launched in late 2018. BehindMLM published its original Uforia Science review on December 12th the same year.

In the comments of our review, a reader reached out just over a week ago to let us know our review needed an update.

I took a glance at Uforia Science’s current offering and confirmed.

Today we revisit Uforia Science for an updated review. [Continue reading…]

The National Securities Market Commission has confirmed Mind Capital is committing securities fraud in Spain. [Continue reading…]

Liechtenstein’s Financial Markets Authority has issued a securities fraud warning against Exchange Wallet. [Continue reading…]

HyperCapital’s website provides no information about who owns or runs the company.

A HyperCapital marketing presentation claims the company is “founded by crypto industry giants”. Ryan Xu, founder of HyperCapital, is the only HyperCapital executive named.

Although Xu is presented as a “crypto giant”…

…in reality I couldn’t find anything other than a few failed cryptocurrency company launches. You know the deal, blockchain this, blockchain that – launch after launch and nobody cares.

I’m not going to follow every Ryan Xu rabbit hole (because there’s no point), but with respect to HyperCapital you have HyperTech Group:

Inside HyperTech Group you have Blockchain Global, HCash (HyperCash), CollinStar and Digital X.

Blockchain Global claims it’s “funding the future of blockchain”. The company’s website currently has an Alexa ranking of 1.9 million (#RIP).

HyperCash (HC), “formerly known as Hcash” according to CoinMarketCap, is an altcoin launched mid 2017.

HC pumped to $43.17 in August 2017. The typical shitcoin dump followed and HC is currently trading at $1.22 (#RIP).

CollinStar bills itself as a “venture capital company in the City of Melbourne, Australia”.

The company’s website (as per their official Facebook page), appeared to be down at the time of publication (#RIP).

I had difficulty tracking down information on Digital X. Here’s a snippet from Blockchain Global’s Wikipedia entry;

In August 2016 Bitcoin Group rebranded as Blockchain Global to reflect a broadened focus including management consulting and business incubation.

The company later developed the blockchain exchange platform ACX.io; in February 2017 it reached an agreement with Digital X to take over the function of that company’s blockchain exchange platform, Digital X Direct.

Unless I’m missing something neither Digital X or Digital X Direct exists today. So I’m assuming they were rolled into ACX.

ACX is an Australian focused cryptocurrency exchange. ACX’s website has a current Alexa ranking of 947,611 (almost #RIP).

Ryan Xu’s connection to HyperCash appears to be through HCash Tech, of which he is a co-founder.

Hcash Tech Pty. Ltd. is an Australian technology company which provides technology consulting services, provided technical assistance in developing the parallel dual-chain & dual token ecosystem to, and is an investor in Blockchain giant, HCASH.

They have been working closely with HCASH for development, and will continue to do so in the future.

The exact nature of Xu’s involvement in HyperCash is surrounded in typical layers of bullshit associated with cryptocurrency.

Is he a mere “advisor” or something more?

A 2017 SteemIt post by author gobbleguts reveals HyperCash was then going by “HCash” – and there’s a link to seemingly now defunct CollinStar.

Back then Ryan Xu was also going by his actual name, Zijing Xu.

An announcement by CollinStar America dated December 2017 reveals Ryan Xu is/was Collinstar’s Chairman:

With that in mind, two months earlier this press-release ties CollinStar to the development of HCash, now known as HyperCash (HC).

CollinStar Capital is the lead manager of the Hcash project, one of the most advanced blockchains that took advantage of many technological breakthroughs that were not available to early blockchain developers.

So to summarize, although he’s not working alone, Ryan Xu == Zijing Xu == Collinstar == Hcash == HyperCash (HC).

But alas, you won’t find that in any of HyperCapital’s marketing documents.

Late 2017 was evidently a busy year for Xu. As he was launching HyperCash, his Media Chain scheme was also coming to an end.

Media Chain was a MDC shitcoin ICO that appears to have primarily targeted Chinese investors.

Upon raising “nearly 100 million yuan from investors” ($14.4 million USD), Xu and his co-conspirators purportedly did a runner.

And that might not be the only ICO scam Xu had a hand in:

More absurdly, Ryan XU, or Zijing Xu, serves as an adviser for this project.

Many blockchain projects backed by Mr.Xu are labeled as scams, like HPS, HRS. MediaChain follows suit.

So uh yeah, “cryptocurrency giants” hey.

As HyperCash circled the gurgler in 2019 and continues to do so in 2020, the cynic in me believed HyperCapital is a desperate attempt to resuscitate the shitcoin.

Read on for a full review of HyperCapital’s MLM opportunity. [Continue reading…]