MidasTrend is reported to have stopped paying buyers in November 2019.
Showing in a video lately uploaded to YouTube, on Tuesday firm President Devanir dos Santos confirmed MidasTrend’s collapse.
Dos Santos (proper) claims that on April eleventh,
he had all his Bitcoins, together with private ones, taken by a hacker.
This after all doesn’t clarify why MidasTrend stopped paying out six months in the past.
Someday after MidasTrend stopped paying returns, dos Santos is believed to have fled Brazil for Canada. His present whereabouts are unknown.
The transfer now seems to be to string buyers alongside to delay submitting of client complaints with authorities.
Devanir acknowledged that he has already employed a workforce specialised in fixing these issues and requested for a brand new deadline for purchasers: ” wait till our subsequent dwell “.
Similar to MidasTrend’s fictional buying and selling bots, so too is the “we obtained hacked!” excuse a piece of fiction.
Scammer launches a Ponzi scheme. Scammer steals a bunch of cash. Scammer flees the nation with stated cash. Growth-badda-tish. One other MLM Ponzi bites the mud.
MidasTrend primarily focused Brazilian buyers. In our printed February 2020 assessment, we surmised whoever was working the corporate was possible primarily based out of Brazil.
Whether or not Devanir dos Santos labored alone or with others is unclear. As evidenced by social media updates from the corporate in Portuguese, dos Santos may be very a lot the face of the corporate.
Whole investor losses within the wake of MidasTrend’s collapse are unknown.
Replace eleventh Might 2020 – It appears Devanir dos Santos isn’t achieved scamming folks simply but.
On April twenty third Brazilian media outlet Livecoins reported dos Santos’ Midas 2.0 announcement.
This time, the promise is to create two firms, which can pay clients, the principle one being MidasTrend 2.0.
The corporate was imagined to launch on April twenty seventh. I haven’t been capable of verify whether or not it really did or not.
I had supposed to publish an up to date Midas Development 2.0 assessment. I checked MidasTrend’s web site and the enterprise mannequin on there is identical as the unique MidasTrend.
Pending additional info and/or affirmation dos Santos really launched a reload rip-off, I’m leaving issues there.