The Quwiex Ponzi scheme has collapsed.
Following disabling of withdrawals over per week in the past, Quwiex instructed traders they’d be resumed on April 18th.
As an alternative of that occuring, Quwiex disabled its web site and it’s now been down for 2 days.
Quwiex was a easy Boris CEO Ponzi scheme, headed up an actor enjoying “George Bennett”.
While pretending to function from New Zealand, Quwiex solicited funding on the promise of a 5% a day ROI.
On April eighth New Zealand’s Monetary Markets Authority issued a Quwiex securities fraud warning.
A couple of days later Quwiex disabled withdrawals. Associates had been instructed withdrawals can be resumed on April 18th.
On April thirteenth George Bennet appeared in a YouTube video, promising a “Quwiex World” reboot on April twenty first.
I might have waited an additional day, however what prompted me to name Quwiex’s collapse was a missed April twentieth Zoom name.
As per the above put up, which remains to be obtainable on Quwiex’s official Twitter profile, Bennet was supposed to seem on an April twentieth Zoom webinar.
So far as I can inform that webinar didn’t occur. Coupled with Quwiex’s web site nonetheless being down, apparent Ponzi collapse is apparent.
Trying ahead if Quwiex does reboot on April twenty first, and even at a later date, it is going to be a reboot of a collapsed Ponzi.
Which means that with out new cash, pending withdrawals will stay disabled or at greatest closely restricted.
That’s sometimes not how the Boris CEO Ponzi factories in japanese Europe work although. As soon as a scheme is dumped they rent new actors and pump out a brand new rip-off.
For now think about funds invested in Quwiex misplaced. Any excellent balances within the Quwiex backoffice by no means existed.