HQI Exchange, aka HQIEX, has received a securities fraud warning from the Alberta Securities Commission (ASC).

As per ASC’s May 14th HQI Exchange fraud warning; [Continue reading…]

54EX fails to provide verifiable ownership or executive information on any its websites.

54EX operates from four known website domains:

1. 54expro.com – privately registered March 12th, 2026
2. dfw556.com – privately registered April 2nd, 2026
3. dfw557.com – privately registered April 2nd, 2026
4. dfw558.com – privately registered April 2nd, 2026

The “dfw” domains are used to host “DFW Group” websites. DFW Group is a fake gold investment firm created to support 54EX’s trading signals ruse.

DFW Group is run by founder “Benjamin Foster”, a fictional identity represented by an AI avatar.

Despite only existing for a month and a half or so, DFW Group is falsely represented to have been around since 2020.

As part of further efforts to feign legitimacy, 54EX and DFW Group present a purported certificate, representing registration of an Australian company with the Australian Investments and Securities Commission (ASIC):

ASIC are known for non-regulation of MLM fraud. 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.

With respect to MLM due-diligence, ASIC registration certificate as proof of legitimacy is therefore meaningless.

As to who’s actually running 54EX and DFW Group, if we look at the source-code of the 54EX website we find Chinese:

We also find a reference to “asiaex-pro.com”. This domain is associated with multiple recently launched Chinese “click a button” app Ponzis; NewEra Exchange, Swift Wave Capital and TXO Exchange.

The same Chinese scammers running these Ponzi scams are also behind 54EX and DFW Group.

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…]

Bulletproof Matrix fails to provide ownership or executive information on its website.

Bulletproof Matrix’s website domain (“bulletproofmatrix.com”), was privately registered on May 8th, 2026.

A visit to Bulletproof Matrix’s website without a referer reveals Jeremy Duncan is the default referer:

A visit to Duncan’s Facebook page reveals he launched Bulletproof Matrix on May 17th:

Duncan (right) is a serial fraudster. To date BehindMLM has documented eight of Duncan’s pyramid schemes:

1. M80 Advertising (early 2023)
2. The Rocket Recruiter (April/May 2023)
3. My Traffic Powerline (August 2023)
4. ShareTheWinnings (January 2024)
5. Fast Start Profits (August 2024)
6. Split The Winnings (December 2024)
7. Cash Multiplier System (October 2025)
8. AI Viral Downline (January 2026)

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…]

Seven months after he sold My Daily Choice off to Immunotec, Josh Zwagil has now sold AkashX to Conectiv. [Continue reading…]

TXO Exchange fails to provide ownership or executive information on its website.

TXO Exchange operates from three known  website domains:

1. txoca.com – privately registered January 12th, 2026
2. txoin.com – privately registered December 15th, 2025
3. txook.com – privately registered January 12th, 2026

Offsite marketing cites “Adrian Caldwell” as TXO Exchange’s founder:

Caldwell doesn’t exist and is represented by an AI-generated avatar.

In an attempt to appear legitimate, TXO presents a New York company certificate as proof of regulatory compliance.

Due to the ease with which scammers are able to incorporate shell companies with bogus details, for the purpose of MLM due-diligence these certificates are meaningless.

If we look at the source-code of the “txoca.com” domain, we find Chinese and a reference to “asiaex-pro.com”.

Chinese in the source-code suggests whoever is running TXO Exchange has ties to China:

The domain “asiaex-pro.com” is associated with multiple recently launched Chinese “click a button” app Ponzis; NewEra Exchange and Swift Wave Capital.

The same Chinese scammers running these Ponzi scams are behind TXO Exchange.

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…]

Simple Commissions fails to provide ownership or executive information on its website.

Simple Commissions’ website domain (“simplecommissions.com”), was first registered in 2017. The private registration was last updated on March 8th, 2026.

If we look at Simple Commissions’ source-code, we find reference to “Jeffrey Long”:

Long is also the default referrer if someone visits the referral section of Simple Commissions’ website without a referral link:

Long, aka Jeff Long, first appeared on BehindMLM’s radar as the founder of AutoXTen, a recruitment scheme launched in 2011.

AutoXTen collapsed a few months after launch. Long went on to launch SMS Dailies, which also collapsed shortly after launching.

Long resurfaced in late 2015 with Get Paid Social, a Facebook spam pyramid scheme.

Get Paid Social went into decline throughout 2016, prompting Long to launch 1 Online Business in mid 2017.

1 Online Business combined a cycler Ponzi business model with social media spam. Alexa traffic estimates for the 1 Online Business show a brief hype period followed by a collapse leading into 2018.

Long launched and began promoting Luvv, a pyramid scheme, around April, 2018. Luvv is believed to have collapsed a few months after its launch.

In early 2019 Long launched NewU Financial, a shady MLM gifting scheme promising investors a 200% ROI. That lasted barely a few months before NewU Financial collapsed.

Within weeks of NewU Financial collapsing Long launched Abundance Network, another illegal gifting scheme.

A few weeks later Long’s partner merchants pulled the plug, citing pyramid scheme concerns.

This led to a pyramid scheme model reboot in August 2019 that, not surprisingly, was also short-lived.

Long resurfaced in in April 2024 as the owner of Internet Income System, a $100 a month gifting pyramid scheme.

Long’s last appearance on BehindMLM was in October 2025 with People Getting Paid, a simple AI-generated pyramid scheme.

Today People Getting Paid’s website domain redirects to Simple Commissions.

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…]

Following Blockchain Sports’ AI-slop JIGGL music app going nowhere, a new IMBA Spotify grift has been announced. [Continue reading…]

FYNOR fails to provide ownership or executive information on any of its websites.

FYNOR operates from two known website domains:

• fynor.com – first registered in 2018, private registration last updated on August 28th, 2025 (purchased in or around May 2025)
• maivest.com – privately registered on July 18th, 2025

In an attempt to appear legitimate, FYNOR presents a Colorado shell company and FINCen MSB certificate as evidence of regulatory compliance.

Shell companies registered in any country are meaningless due to the ease with which scammers register them with bogus details.

FinCEN is not a financial regulator. Anyone can register a shell company with FinCEN and receive a meaningless MSB certificate. This is a common tactic used by scammers.

If we look at the source-code of FYNOR’s website, we find Chinese:

This suggests whoever is running FYNOR has ties to China.

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…]

Two suspects tied to the QFON MLM Ponzi app scam have been arrested in India.

Twelve suspects have been charged, with Sudhir Dalsukhbhai Kotadiya and Santibhai Kotadiya arrested on March 11th, 2026. [Continue reading…]

MLM Ponzi promoter Michael “Mike” Lucas has filed a bogus copyright lawsuit against Danny de Hek.

In a Complaint filed on April 21st, Lucas sought to exercise ownership of a video uploaded to de Hek’s YouTube channel. [Continue reading…]