In August 2017 two of probably the most distinguished web sites used to advertise scams had been taken offline inside minutes of one another.
The MoneyMakerGroup and TalkGold boards, owned by brothers Edward and Brian Krassenstein, had been used to advertise fraudulent funding and pyramid schemes for over a decade.
The web sites finally caught the eye of the authorities, which result in the Krassenstein brothers being the topic of a DOJ forfeiture grievance filed mid final 12 months.
Of their grievance, the DOJ referred to MoneyMakerGroup and TalkGold as ‘dialogue boards through which HYIP operators promote and promote their fraud schemes to potential victims‘.
For these unfamiliar with the time period, “HYIP” stands for “excessive yield funding program. The time period is synonymous with Ponzi schemes.
And a superb proportion of the Ponzi schemes marketed on MoneyMakerGroup and TalkGold had been of the MLM selection.
The enterprise mannequin of each MoneyMakerGroup and TalkGold was straight-forward: The Krassenstein brothers collected promoting charges from scammers wanting to advertise their schemes.
On August twenty second 2017, the day after the DOJ’s forfeiture grievance was filed, each the MoneyMakerGroup and TalkGold web sites went offline.
When queried concerning the web site disappearance looking back, Edward Krassenstein replied;
We determined to take the websites down as we not wished to be part of them because it’s not value the opportunity of getting sued and having to defend ourselves but once more.
Moreover the web sites had been costing cash to run.
Thus far each discussion board web sites stay offline. Lately nonetheless the MoneyMakerGroup area started redirecting guests to a different rip-off promotion platform.
HYIP.com is just about a clone of what MoneyMakerGroup and TalkGold had been:
A platform on which the world’s worst on-line scams are promoted – both by admins in change for promoting charges, or by buyers seeking to revenue by luring new victims into their schemes.
The MoneyMakerGroup area file exhibits the final change to the area was made on September tenth, which is presumably when the redirection was carried out.
The MoneyMakerGroup area registration is ready to non-public, so we will’t affirm who presently owns it.
An August/October dialogue thread on BitcoinTalk suggests the MoneyMakerGroup area might need been purchased.
We do know that as of October 2017, the Krassenstein brothers nonetheless owned the area.
On the time of publication the TalkGold web site area continues to be parked.
In an try to study extra we reached out to Ed Krassenstein, on an e-mail he contacted us by way of previously.
That was 4 days in the past and we’ve but to obtain a reply.
In the meantime there’s no particulars of possession supplied on the HYIP.com web site.
The HYIP.com web site area registration was final up to date on January 4th, 2018.
Alex Smirnoff is listed because the proprietor, by way of an offshore digital deal with in Seychelles.
A LinkedIn profile with what’s assumed to be a bogus profile image cites Smirnoff as CEO of HYIP.com and residing in New York.
A Google Plus account bearing the title “Alex Smirnoff (admin)” suggests syndication of cryptocurrency associated information on HYIP.com started round 15 weeks in the past.
Alexa visitors estimates for the HYIP.com web site present an uptick in curiosity from late July 2018.
The Google Plus file suits in with the Alexa visitors timeline for the area (15 weeks in the past was late July).
Is Smirnoff an actual individual although? In all probability not. Who is aware of.
What we do know is somebody is making an attempt to capitalize on MoneyMakerGroup’s notoriety with a clone platform.
Regardless of the area being round for some time, as I write this HYIP.com may be very a lot in a fledgling state.
There’s not a lot happening, apart from a small group of usernames drumming up curiosity in numerous scams.
The distinguished boards subjects dialogue on HYIP.com is segragated into are HYIP;
Excessive-Yield Funding Applications. All details about initiatives to take a position – evaluations, discussions, information and scams. Foreign exchange, Crypto, buying and selling HYIPs.
And Crypto;
Crypto is in every single place! You will see that all doable crypto info, funding alternatives, ICOs and new cash discussions.
Future occasions, regulators information, bullish/bearish market discussions.
Each MoneyMakerGroup and TalkGold had been in decline earlier than the Krassenstein brothers pulled them offline.
Whether or not HYIP.com recreates their “success” for whoever owns it stays to be seen.
Replace sixteenth November 2018 – Edward Krassenstein has replied to our e-mail question.
Right here’s the e-mail we despatched Ed on November eleventh;
Hello there Edward,
Care to elucidate why the MMG discussion board area now redirects to HYIP.com?
On November sixteenth Ed despatched us the next reply;
No, I don’t.
Make of that what you’ll.