BixoTrade was a Ponzi scheme that pitched returns as excessive as 500% over 200 days.
Launched in January 2021, BixoTrade collapsed in July.
As per a discover printed on BixoTrade’s now defunct web site;
We’re delighted to tell you that BIXO FINTECH is formally launching BIXO MONEY on precedence, a model new platform for cryptocurrency and foreign currency trading the place we guarantee you reliability in revenue incomes.
This determination has been made for primarily two causes.
Somewhat than simply admit they ran out of latest funding to pay out, BixoTrade offers two causes for its collapse.
The primary acknowledged purpose for the reboot is your typical exit-scam “hackers” baloney.
There had been circumstances of knowledge breach in BIXO TRADE by hackers which precipitated points for the person and for us interrupting the free functioning of the web site.
BIXO MONEY is a platform created with the objective of offering most safety to forestall any such information breach sooner or later.
The second purpose, while not admitting funding ran dry, is nearer to the reality;
There are a number of plagiarised BIXO TRADE websites created by fraudsters to dupe our valued prospects.
This has affected the general buyer expertise and dented their belief about BIXO TRADE. Therefore we’re launching BIXO MONEY to be a particular model to cater to your wants unfettered.
Individuals realized we had been a Ponzi scheme so we modified our identify.
That’s just about the one purpose for the Bixo Cash reboot.
BixoTrade’s house owners have given them six months to solicit sufficient new funding to pay out BixoTrade withdrawal requests.
As soon as the customers get the funds again within the ROI pockets, they’ll place requests for withdrawals which shall be credited after the completion of funding interval i.e on the thirty first of December.
To cut back ROI liabilities, BixoTrade associates are inspired to roll over 25% of their monopoly cash into Bixo Cash.
BIXO TRADE customers are additionally being supplied the chance of buying BIXO MONEY packages utilizing their current funds in BIXO TRADE.
The customers can use 25% from the present funds of BIXO TRADE and should add 75% new capital infusion to purchase a bundle in BIXO MONEY.
Perusal of Bixo Cash’s web site reveals it’s the identical Ponzi scheme. Most funding has been minimize from $99,999 to $49,999. The best ROI has additionally been decreased from 500% to 300%.
As of September 2021 Bixo Cash advertising movies are nonetheless branded BixoTrade. The identical actors in Florida proceed to faux they’re working the corporate.
I’ve recognized BixoTrade’s/Bixo Cash’s CEO “Benjamin Gimson” as Josh Andrews.
As per Andrews’ web site, he’s a ‘multidisciplinary actor, photographer, and content material creator based mostly in Jacksonville, Florida.’
The newest BixoTrade video that includes Andrews was uploaded to BixoTrade’s YouTube channel on September eighth.
For some purpose it was shot with the worst digicam settings I’ve seen in a Boris CEO manufacturing but.
Given the BixoTrade branding, I’ve a suspicion BixoTrade’s advertising movies had been shot collectively again in January. They’d have simply had the actors change clothes.
I say this as a result of within the newest video Andrews mentions a six-month BixoTrade occasion.
Taking BixoTrade surfaced in January that may put us at June or so, not September.
After all BixoTrade was on the way in which to break down in June, so right here we’re.
Until the scammers behind BixoTrade shoot new movies, they’re caught drip feeding beforehand shot footage with the unique BixoTrade and BixoFintech branding.
Within the haste to launch Bixo Cash, it seems the developer forgot to clean their identify from the web site source-code:
Holding in thoughts that might be an alias, I wasn’t capable of finding something additional on Mamunur Rashid. At the least nothing concrete with respect to BixoTrade and Bixo Cash.
Wanting ahead, the Bixo Cash reboot brings with it a deliberate exit-scam:
Bixo Pay, Bixo Make investments, Bixo Money, Bixo Mining, Bixo AI; these sound like current parts or reboots within the making.
BixoCoin is the takeaway:
It appears at any time when Bixo Cash begins to break down, slightly than reboot with a brand new identify they’ll go the shitcoin exit-scam route.
By now it is best to know the way this performs out. Returns are switched to Bixo Coin, Bixo Coin is dumped on public exchanges, admins disappear, Bixo Coin dumps to $0 and sorry to your loss.
Alexa site visitors estimates for BixoTrade counsel the vast majority of victims are based mostly within the US (92%).
Oddly sufficient, Alexa’s cites Bangladesh and Turkey as the one notable sources of site visitors to Bixo Cash’s web site.
It appears the vast majority of US BixoTrade associates haven’t migrated to the Ponzi reboot.
Replace 1st March 2022 – Josh Andrews’ web site was hosted on SquareSpace.
It seems Andrews stopped paying the internet hosting invoice, ensuing within the following message returned to web site guests:
Because of the Andrews’ web site taking place, I’ve eliminated the unique hyperlink supplied within the article.