Simb Emile Parfait’s Liyeplimal Ponzi scheme collapsed in the lead up to Christmas.
The scheme was rebooted with LimoCoin SWAP, but reports indicate that’s not going too well.
Liyeplimal’s original business model saw the Ponzi operate through Limo and XAF.
Both are ERC-20 shitcoins, which take 5 minutes to set up at little to no cost.
On or around December 2nd, Liyeplimal collapsed.
Limo and XAF have been abandoned and replaced by LimoCoin SWAP.
LimoCoin SWAP purportedly operates on both the ethereum and binance smartchain blockchains.
As reported by a reader, over the past month LimeCoin has ‘dropped from initially 1 USD+ to something under 0.04 USD.’
Liyeplimal don’t publish LimoCoin SWAP’s current internal value on their website.
LimoCoin SWAP on BSC is publicly listed at 3.2 cents.
Liyeplimal was subject to numerous regulatory warnings throughout late 2020 and 2021.
COSUMAF in Africa kicked things off in October 2020. They were followed by West Africa, Angola and Canada (BC and Quebec).
In response to increasing regulatory scrutiny, Liyeplimal’s parent company Global Investment Trading was renamed to Simtrex Commercial Brokers LLC.
Parfait himself fled Africa for Dubai. With limited extradition treaties and no active MLM securities fraud regulation, Dubai is a safe-haven for MLM scammers.
On its website Liyeplimal claims it has “a cryptocurrency mining license in Dubi [sic]”.
Alexa’s traffic analysis suggests the largest pool of Liyeplimal victims are from Cameroon (13%).
Update 20th February 2022 – Liyeplimal’s LimoCoin SWAP has also collapsed.