Several The Traders Domain scammers have consented to preliminary injunctions.

Between October 22nd and 25th, the CFTC filed preliminary injunction consent orders pertaining to: [Continue reading…]

Barbados’ Financial Services Commission has issued a “click a button” app Ponzi fraud warning.

As per an October 29th report from Barbados Today;

The Financial Services Commission (FSC) on Monday issued an urgent warning about investing in multi-level marketing (MLM) schemes, as a scheme masquerading as a YouTube and TikTok partnership actively recruits Barbadians with promises of quick earnings.

The scheme requires participants to initially engage in a three-day probationary period after clicking a provided link, with recruiters promising earnings of $2.50 per day for clicking five times in designated spaces.

Prospective members are then encouraged to visit the St Michael office of the business and pay approximately $700 to advance to “level two”, which involves making 10 online clicks for promised earnings of US$10 ($20) daily or US$300 ($600) monthly.

This is either a “watch videos” or “social media manipulation” variant of your typical “click a button” app  Ponzi. [Continue reading…]

Siemens VIP fails to provide ownership or executive information on its website.

Siemens VIP’s website domain (“siemensvip.cc”), was registered with bogus details on September 19th, 2024.

Siemens VIP has already attracted the attention of financial regulators. The Central Bank of Russia issued a Siemens VIP pyramid fraud warning on October 18th, 2024.

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…]

GivBux fails to provide ownership or executive information on its websites.

GivBux operates from two website domains:

1. givbux.com – first registered in October 2017, private registration last updated on March 3rd, 2024
2. givebuxglobal.com – privately registered on July 16th, 2024

Further research reveals Kenyatto Jones, aka Ken Jones, citing himself as founder and CEO of GivBux on social media:

On its website, GiveBux provides a corporate address in California. This tracks with a 2019 Washington Department of Financial Institutions consent order, citing Jones as a resident of California.

As per DFI’s consent order, which names GiveBux Global Partners and Jones (right) as Respondents;

Between January and March 2019, the Respondents raised a total of $106,000 from the sale of common stock in Givbux to approximately six investors, including an accredited investor residing in Aberdeen, Washington who purchased 82,000 shares for $41,000.

In addition to the Private Offering Memorandum, Givbux also disseminated an Executive Summary, which contained misleading financial projections. Givbux stated that it had a goal of 1.8 million users within 12 months.

Givbux represented that the value of its purchase transactions would grow from over $130 million in the first year of operations, to over $3.4 billion in the second year, and to over $13.9 billion in the third year.

Givbux’s revenue was projected to grow from approximately $3.2 million in the first year of operations to over $480 million in the third year.

The Executive Summary indicated that Givbux would earn a net profit of $423,151 in the first year of operations, which would grow to over $64 million in the third year.

These projections lacked any reasonable basis in fact. Givbux failed to disclose that these projections were not supported by the company’s historical performance, that the company was still testing and developing its app, and that it had not yet earned any revenue.

The Executive Summary misleading stated that Givbux had “No direct competition in this space at [the] present time (none could be found with an affiliate program).”

In fact, the mobile wallet and mobile payment industry is highly competitive.

In its Private Offering Memorandum, Givbux disclosed that it competes with other well-established global mobile wallet businesses including Apple Pay, Samsung Pay, and Square, which are “much larger than the Company” and have “superior financial resources.”

The Respondents failed to disclose material information regarding the use of investor proceeds, the financial condition of Givbux, and the compensation that would be paid to Jones and other persons.

The offer and/or sale of the common stock described above constitute the offer and/or sale of a security as defined in RCW 21.20.005(14) and (17).

Givbux Global Partners, Inc. and Kenyatto M. Jones each violated RCW 21.20.010, because, as set forth in the Tentative Findings of Fact, they made untrue statements of material fact or omitted to state material facts necessary to make the statements made, in light of the circumstances in which they were made, not misleading.

IT IS FURTHER AGREED AND ORDERED that Respondents Givbux Global Partners, Inc. and Kenyatto M. Jones, their agents and employees each shall cease and desist from violating RCW 21.20.010.

IT IS FURTHER AGREED AND ORDERED that Givbux Global Partners, Inc. shall be liable for and shall pay a fine of $1,000 on or before the entry of this Consent Order.

IT IS FURTHER AGREED AND ORDERED that Givbux Global Partners, Inc. shall be liable for and shall pay investigative costs of $500 on or before entry of this Consent Order.

Jones signed the Consent Order on July 17th, 2019.

Pursuant to GiveBux setting a goal of 1.8 million users by the end of 2020, as of October 2024:

• GivBux on the Apple Store has 38 ratings (downloads unknown)
• GivBux on the Google Play store has between 5000 to 9,999 downloads

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…]

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

FlokiAI’s website domain (“flokiai-gpt.com”), was registered with bogus details on October 1st, 2024.

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…]

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

MinerX’s website domain (“minerx.tech”), was privately registered on May 16th, 2024.

MinerX’s official FaceBook page is managed from Thailand:

MinerX marketing places its purported headquarters in Phuket:

On October 1st, MinerX uploaded a video titled “MinerX Global Community Visit KL” to its YouTube channel.

The video features what appears to be a bunch of randoms (actors?), and an individual cited as “Dr. Jeffrey”:

“Dr. Jeffrey” is Jeffrey Gan. Gan’s specific role within MinerX is opaque but he’s presented as the corporate face of MinerX.

My research into Gan led me down a rabbit hole leading to a Chinese crypto mining cartel operating out of Texas. Things get a bit complicated so bear with me as I lay it all out.

In MinerX marketing material, Gan is represented to be a US citizen with ties to Malaysia and Singapore (click to enlarge)

Four years ago Gan was the Chief Marketing Officer and face of “G-Power“:

G-Power was run by these individuals…

…and was attached to a bunch of companies:

G-Power itself was a 300% smart-contract staking Ponzi built around “unig” tokens.

Today, neither G-Power or its “unig” tokens exist.

Gan also runs “Right Arms Project”, which he claims launched in 2018.

Right Arms Project, which is evidently up to version 3.0, operates from the domain “rightarms.io”. As opposed to 2018, Right Arms Project’s website domain was registered in January 2023.

Presently Right Arms Project’s website is nothing more than a signup/login form:

As far as I can tell, Right Arms Project is the culmination of Gan’s crypto Ponzi scamming over the years… now rolled into MinerX.

Attached to Right Arms Project we have something called “Assembly of Gods”. Sounding very cultish, Assembly of Gods appears to be a group of Gan’s Chinese investors.

Assembly of Gods’ logo featured prominently in an August 2024 MinerX “kick off” event held for Chinese investors.

Research into the connection between Assembly of God and MinerX led me to Kewusuma, an MLM ecommerce retailer that also dabbles in MLM crypto fraud.

As above, Kewusuma presents Assembly of Gods as

the primary investor in Miner X which had invested $10 Million and has entrusted the Right Arm Community to manage the promotion, subscription, and marketing of the project.

Kewusuma is one of the key member in Right Arm Community.

Miner X collaborates with global mining farms, like BitGood, to boost their Bitcoin output without increasing costs, and sharing the extra profits generated.

BitGood is the name of a Chinese owned purported crypto mining facility built in Texas.

The first thing visitors to BitGood’s website see is this:

We’ll get into why BitGood has a North American disclaimer on its website in the conclusion of this review.

What’s pertinent to the introduction of this review is BitGood is owned by a Chinese outfit going by Dbank.

BitGood is a platform that relies on its own North American mining sites to provide global investors with a one-stop intelligent Bitcoin mining pool service.

In early 2023, the Dbank Group, a leader in blockchain finance, embarked on constructing a mega Bitcoin mining facility (120 megawatts) in Texas, USA – a state renowned for its abundant energy resources and compliance-friendly mining environment.

Embracing Dbank’s vision of establishing a globally compliant mainstream cryptocurrency industry ecosystem, BitGood launched its mining service products based out of its self-operated Texas mining sites.

Founded in 2017, Dbank Group began its journey with the development of the Dbank wallet in the same year.

Since 2018, the group has strategically invested in a blockchain technology R&D center, a traditional financial management institution, and two mainstream compliant trading platforms globally.

Other than it being Chinese owned and operated, I don’t have any specifics on who owns and/or runs Dbank and BitGood.

Dbank and BitGood don’t appear to directly interface with the MLM crypto investment companies tied to them.

That’s handled by yet another company, PrymeBit:

On May 3rd, 2024, Finxfeed published a press-release citing PrymeBit as an “authorized partner” of BitGood;

PrymeBit, recognized as a distinguished project certified by the Finxeed Certification Program, plays a pivotal role in external promotion and provides indispensable support to numerous partners.

As the exclusive authorized partner of BitGood, PrymeBit benefits significantly from BitGood’s cutting-edge mining facility technology and intelligent hash power pool services.

Finxeed pitches itself as a “certifier” and is run by CEO Jaz Pee, aka Wei Haw Pee and “Mr. JP”.

Pee appears to be a Malaysian national and is at the center of everything.

We’ll cover Pee’s direct involvement in MinerX and the MLM crypto Ponzi it’s a clone of in the conclusion of this review.

On Twitter, Pee cites BitGood as a project of Finxeed’s. This ties Pee to ownership of BitGood, Dbank and MinerX.

Pee obviously isn’t working alone. These individuals are represented to be owners of Dbank’s/BitGood’s mining facility in Texas:

At time of publication I don’t know who any of them are.

Marketing videos on BitGood’s website has Dbank’s/BitGood’s owners speaking Chinese, which brings us full-circle to Chinese scammers working across Texas and Asia (Malaysia and Thailand).

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…]

Forcount’s Jan Tacuri has been sentenced to twenty years in prison.

At the conclusion of his sentence, Tacuri will additionally be subject to an additional year of supervised release. [Continue reading…]

Top-AgiGPT4 fails to provide ownership or executive information on its website.

Top-AgiGPT4 has three known website domains:

1. topagigpt4.top – registered in April 2024, private registration last updated on August 15th, 2024
2. topgptai.top – registered in April 2024, private registration last updated on August 13th, 2024
3. topagigpt4.homes – privately registered on May 7th, 2024 (already abandoned)

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…]

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

PandaPay’s website domain (“pandapay.ai”), was privately registered on an unknown date.

On its website PandaPay provides a corporate address in California. The address belongs to a company selling virtual office addresses.

From this we can ascertain PandaPay likely has no physical ties to the US.

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…]

The DGPT “click a button” app Ponzi has collapsed.

On October 18th DGPT disabled withdrawals, citing a bunch of crypto baloney jargon: [Continue reading…]