DasCoin securities fraud cease and desist issued in BC, Canada

May 22, 2018 mlmdetective 0

DasCoin is the latest MLM cryptocurrency to receive a securities fraud cease and desist.As part of Operation Cryptosweep, the British Columbia Securities Commission issued DasCoin with a cease and desist notice.
As at the time of publication the DasCoin cease and desist notice hasn’t been made public. Nor do we know exactly when it was issued.
Seeing as the notice is part of Operation Cryptosweep however, I believe DasCoin was served sometime over April or May.
On the MLM side of things DasCoin is promoted through Net Leaders (formerly Coin Leaders).
On the Net Leaders website, the company markets itself as “the home of DasBlockchain”.
As…

Trident Crypto Fund cease and desist issued in New Jersey

May 22, 2018 mlmdetective 0

Trident Crypto Fund emerged in April 2018 as yet another MLM cryptocurrency Ponzi scheme.Built around the recently launched TDC ICO, Trident Crypto Fund solicits investment in bitcoin on the promise of daily ROIs of up to 1% in TDC points.
Following an Operation Crypto-Sweep internal investigation, New Jersey has issued Trident Crypto Fund with a securities fraud cease and desist.
Although New Jersey doesn’t go into specifics regarding it’s investigation, it’s easy enough to put two and two together.
Outside of Trident Crypto Fund TDC points are worthless.
The business model sees bitcoin transferred to Trident Crypto Fund’s anonymous owners, in exchange for TDC.
TDC is…

MasBitcoin CEO’s bodyguards gunned down in Mexico

May 16, 2018 mlmdetective 0

Disturbing footage has emerged of MasBitcoin CEO Jorge Sanchez in what appears to be a bulletproof vest.Visibly shaken and covered in blood, Sanchez reveals two of his bodyguards are dead and vows revenge.
MasBitcoin emerged in mid 2017 and operated as your typical MLM cryptocurrency scam.
MasBitcoin affiliates invested bitcoin on the promise of a 5% daily ROI for 40 days (200%).
Pyramid referral commissions were also paid directly and residually through binary and matrix teams.
New investor funds appear to have slowed down in early 2018, prompting MasBitcoin to collapse.
Sometime in February, possibly early March, MasBitcoin informed investors it was shutting down.

Dear users
We are writing…

FTC seeks liquidation order for crypto assets in MLM pyramid case

May 12, 2018 mlmdetective 0

Citing cryptocurrency as inherently “insecure” and “volatile”, the FTC is seeking a court order requiring defendants to liquidate crypto assets held into USD.The May 11th motion was filed as part of the FTC’s case against Scott Chandler, Louis Gatto, Eric Pinkston & Thomas Dluca.
The four defendants stand accused of scamming the general public through a series of pyramid and/or Ponzi schemes.
The FTC argues liquidation of the defendant’s crypto assets is required
in order to preserve the value of the frozen cryptocurrency and prevent it from being stolen, lost or dissipated.
If granted, the FTC’s requested liquidation order will require Chandler, Gatto, Pinkston and…

Bitcoiin scammers attempt to manipulate B2G onto Binance exchange

May 8, 2018 mlmdetective 0

One of the core problems a Ponzi points MLM cryptocurrency faces is getting their altcoin listed on a public exchange.In addition to hitching B2G to Dragon Mining Tech and several “scam within a scam” companies (Bitcoin Trading World, Crypto Mining Space, Palilula Mining etc.), Bitcoiin have been heavily touting public exchange adoption over the past month.If the scammers behind Bitcoiin and Dragon Mining Tech are to be believed, B2G is set to debut on two public exchanges by the end of the week.Whatever strings Bitcoiin are pulling to make the listing happen though don’t seem to be enough, with the company…

Major crypto MLM bust in Pakistan (OneCoin, FirstCoin, Eagle Bit Trade)

May 3, 2018 mlmdetective 0

Authorities in Pakistan have “unearthed a huge business racket” in Pakistan, with those involved accused of promoting several dubious MLM opportunities.Agents of the Federal Investigative Agency Cyber Crime division have confirmed the suspects were promoting OneCoin, FirstCoin and Eagle Bit Trade.Through these Ponzi schemes, authorities allegethe accused involved in the gang were looting millions of hard earned money of citizens.So far three suspects have been arrested; Ahmad Butt, Malik Irfan and a woman surnamed Zammurd.Zammurd is believed to be one of Pakistan’s main Eagle Bit Trade promoters.FIA agents are continuing to investigate the case.Let’s block ads! (Why?)

Agreed preliminary injunction entered against Eric Pinkston

April 28, 2018 mlmdetective 0

The FTC and Eric Pinkston have reached a preliminary injunction agreement, resulting in an agreed injunction granted on April 20th.Last month the FTC sued Pinkston for promoting and profiting off of the Bitcoin Funding Team and My7Network scams.As per the agreement, the court acknowledges that the FTC has an “ultimate likelihood of success”.The FTC has shown a likelihood that it will ultimately succeed on the merits.Based upon the audio and video recordings, website screen shots, website captures, consumer declarations, investigator declarations, an expert declaration, and other evidence submitted by the FTC, there is good cause to believe that Defendant Eric Pinkston…

Power Mining Pool cease and desist permanent, exit-scam confirmed

April 24, 2018 mlmdetective 0

Following a cease and desist issued last month, Power Mining Pool’s website was quickly pulled offline.Power Mining Pool’s admins strung investors along while they quietly executed their exit strategy, after which communication lines went silent.Now North Carolina has confirmed Power Mining Pool failed to respond to the cease and desist notice, confirming the company’s owners exit-scammed.On April 19th North Carolina made the March cease and desist against Power Mining Pool permanent.This prohibits the company and its owners from continuing to fraudulently offer securities in North Carolina – not that it does the company’s victims any good.The North Carolina Securities Division reveal…

Tecademics screw affiliate out of $20,000, IQup not interested?

April 22, 2018 mlmdetective 0

About a week ago we covered a co-founder conflict leading to Chris Record selling his stake in Tecademics.Tecademics itself is no more and has been amalgamated into IQup.One loose end that neither Tecademics co-founders Chris Record and Jim Piccolo or IQup seem keen to tie up however, is a missing $20,000 prize awarded to one of their affiliates.Colton Fitzgerald is a former Tecademics affiliate. At a “Tec Talks 2017” event, Chris Record named him as winner of “$20,000 cash”.This was announced on-stage in front of an audience of Tecademics affiliates.[embedded content]Fitzgerald won the $20,000 prize as part of Tecademic’s “90 day challenge”.In…

MinerWorld under criminal investigation in Brazil

April 20, 2018 mlmdetective 0

MinerWorld, an MLM cryptocurrency touting 12 month mining ROIs, is under investigation in Brazil.Yesterday Brazilian Federal Police and the Public Ministry announced they were investigating MinerWorld, on suspicion the company is a pyramid scheme.In addition to a federal investigation, MinerWorld’s owner, Cícero Saad Cruz (right), is the subject of organized crime investigations in Mato Grosso do Sul and Sao Paulo.These investigations lead to a recent raid on MinerWorld’s Campo Grande headquarters.Authorities in Mato Grosso do Sul claim their investigation revealed no evidence of MinerWorld mining bitcoin in Brazil or abroad.MinerWorld claims it mines bitcoin in Paraguay and China.The investigation follows reports from investors…