The Meme Club Ponzi scheme has collapsed.
Affiliate investors report that withdrawals were disabled without warning on December 1st.
Meme Club disabling withdrawals follows a Black Friday promotion, wherein investors received a 25% bonus on invested cryptocurrency.
Three days after disabling withdrawals Meme Club launched a new Christmas promotion:
At time of publication Meme Club has yet to publicly address disabling withdrawals.
Rather, whoever is running Meme Club’s social media accounts is pretending the scam hasn’t collapsed:
Meme Club was a Russian Boris CEO Ponzi scheme. Among its promoters were notorious serial scammers Simon Stepsys and Luigi Bruni.
Bruni appears to have a cut a deal with Meme Club’s owner(s), taking on the role of Sales Director.
Bruni joined Meme Club following the collapse of the CashFX Group Ponzi scheme. Simon Stepsys has been recruiting people into MLM Ponzi schemes for the better part of a decade.
The Central Bank of Russia issued a Meme Club pyramid fraud warning back in September.
Who ran Meme Club is unclear. Marketing wise Meme Club was headed up by “Patrick Meier”. Meier was played by a Russian actor, believed to be from or around St. Petersburg.
SimilarWeb tracked a 20% decline in Meme Club website traffic across September and October 2022.
Top countries making up Meme Club’s ~72,700 October website visits include the US (32%), France (27%) and Mauritius (18%).
Luigi Bruni and Simon Stepsys are based out of Canada and the UK respectively.