About a week ago BizzTrade, a Ponzi continuation of the BizzTrek pyramid scheme, announced it was jumping on the crypto fraud bandwagon.
And so we have BizzCoin, another shitcoin that gullible Ponzi investors will eventually be exit-scammed through.
BizzCoin was quietly launched a few months ago. It’s an ERC-20 token that can be set up in about five minutes.
After being accumulated by BizzTrade’s owners and circulated among their inner circle, BizzCoin was listed on Bilaxy on or around April 2020.
Bilaxy is a shitcoin exchange with a few thousand users. It appears to be operated by anonymous Chinese speaking admins out of Asia.
After debuting publicly at 39 cents, today BizzCoin has a public value of 44 cents.
And I use the word “public” in the most broadest sense, because naturally outside of BizzTrade there is no interest.
Since being generated BizzTrade have been flogging BizzCoin to investors through packages.
- Starter – €50 EUR
- Pro Starter – €100 EUR
- Business – €500 EUR
- Pro Business – €1000 EUR
- Trader – €5000 EUR
- Pro Trader – €10,000 EUR
- VIP – €25,000 EUR
And seeing as BizzTrade generated BizzCoin out of thin air, they’ll generously give you a daily return on whatever you invest.
- Starter and Pro Starter investors receive up to 0.4% a day
- Business and Pro Business investors receive up to 0.6% a day
- Trader and Pro Trader investors receive up to 0.8% a day
In case it wasn’t clear, these returns are paid in BizzCoin. BizzTrade offered the same returns but in actual money.
And that brings us to why BizzCoin was created.
Cryptocurrency allows Ponzi scammers to “pay” returns using an in house shitcoin.
As creators of the shitcoin, they can assign themselves whatever ridiculous amount they want, before going public.
It is from this shitcoin balance returns are paid out, and being publicly traded they don’t have to honor withdrawal requests.
Can’t sell your shitcoin to actually cash out? Oh well, supply and demand.
The end-game here is hyping BizzCoin in the hope gullible schmucks jump on board. Here’s an example from BizzTrade’s official BizzCoin presentation:
That projected return is of course based on nothing. It’s literally plucked from thin air.
If BizzCoin pumps, the owners and early investors cash out. That dumps the public value, leaving those left with bags of BizzCoin they can’t cash out.
The MLM industry has seen this scenario play out time and time again. Yet there never seems to be a shortage of gullible investors willing to flush their money.
Taking a step back, BizzTrek surfaced about a year ago. By October it was on the rocks, prompting the launch of BizzTrade.
Six months later in an attempt to fend off pending withdrawal problems, BizzTrade has launched a shitcoin.
Be it a forex trading Ponzi scheme or shitcoin magic money Ponzi scheme, at no point in its history has BizzTrade registered its passive investment opportunity with a financial regulator.
And if the company’s recent “launch event” is anything to go by, BizzTrade’s principals have already relocated from the UK to Dubai.
You know how this ends.
Update 29th November 2021 – BizzTrade has deleted its “launch event” video from its YouTube channel.
This article originally contained a link to the video but following its deletion, the link has been removed.
Update 5th January 2022 – BizzTrade’s BizzCoin crypto Ponzi scheme has collapsed.
BizzTrade has rebooted as BizzTradePro. The Ponzi scheme is now run through BizzCoinPro, a reboot of BizzCoin.