Michael Faust’s “secret” Challenge Lantern Ponzi scheme has collapsed.
Withdrawals have been disabled because of “important losses”.
In a backoffice replace dated February fifth, the “Challenge Lantern Workforce” wrote;
Now we have just lately skilled a season of maximum volatility within the monetary and cryptocurrency markets.
Sadly the latest aggressive fast downwards actions within the crypto market have seen Challenge Lantern maintain some important losses, and resulted in a downward adjustment to the general worth of the buying and selling portion of the portfolio holdings.
As a result of loss … the correct alternative to guard individuals is to formally droop … curiosity funds, fee funds (and) withdrawals … till such time because the … monetary losses could be recovered.
Accordingly … that is your official discover that the above capabilities are hereby instantly suspended for 3 months, throughout which era an in depth evaluate will likely be performed, and one of the best path ahead will likely be decided and introduced.
The “Challenge Lantern Workforce” is believed to be Faust himself. Faust ran Challenge Lantern with the help of Chris Thomson and Azli Noor, however each look like comparative nobodies.
BehindMLM reviewed Challenge Lantern in April 2021. We discovered a bitcoin Ponzi scheme pitching a 6.5% month-to-month return.
Being a easy Ponzi scheme run by a serial Ponzi scammer, the precise motive Challenge Lantern collapsed is as a result of visitors to its web site is useless.
No new funding = nothing to steal.
For his half, Faust appears to have moved on.
Faust rang in 2022 by asserting he was “letting go of individuals” and “going to cease having troublesome conversations”.
“The place’s my cash?” is definitely a troublesome dialog for a Ponzi scammer. Ignoring individuals who see you stealing their cash as an issue is a bit tough although.
Challenge Lantern’s collapse follows Faust spending an undisclosed quantity on “hospital stays and surgical procedure” all through This fall 2021.
The variety of Challenge Lantern victims and whole investor losses are unknown.
Replace twenty third February 2022 – Following the collapse of his Challenge Lantern Ponzi, Michael Faust is now selling Hyperverse.
Hyperverse is a reboot of the collapsed HyperFund Ponzi scheme.