Following withdrawals being disabled for two weeks and ongoing website issues, BehindMLM is calling OmegaPro’s collapse.
OmegaPro affiliates began reporting being locked out of their accounts on or around November 7th.
This was remedied but affiliates were still blocked from entering the forex section of OmegaPro’s website, through which the Ponzi scheme is run.
As BehindMLM understands it, initially attempts to access the forex section of OmegaPro’s website return a “520 HTTP error”. This is a CloudFlare error code and reflects a problem on OmegaPro’s end.
Today OmegaPro has replaced the CloudFlare error with rotating Korean and Italian server maintenance messages.
OmegaPro’s ongoing login issues have escalated into withdrawal problems, first reported on or around November 20th.
At the time withdrawal requests put in on November 15th remained outstanding. As we approach the end of November, those withdrawal requests still haven’t been paid out.
As it stands some OmegaPro affiliates appear to be able to log in. Most can’t. Nobody has been able to withdraw for most of November.
OmegaPro first publicly addressed log in and withdrawal problems on November 18th:
On November 22nd, OmegaPro followed up by informing affiliate investors their account password would be reset.
Unofficially rumors of a hack have been doing the rounds in closed top leader OmegaPro groups. I haven’t seen anything official.
What I can confirm is it doesn’t take the better part of a month for a company to sort out unexplained technical problems. OmegaPro’s blocked access and withdrawal problems are typical of a Ponzi scheme collapsing.
Also adding fuel to the fire is
- OmegaPro’s recently announced PulseWorld XPL token exit-scam; and
- retroactively increasing the maturity period of existing investment contracts from 16 months to 24 months.
If I had to guess, something went wrong with transitioning or initiating plans to transition to XPL token withdrawals.
There is only one reason a Ponzi scheme stops paying out. OmegaPro doesn’t want to pay any more of what’s left of actual money out, and that has lead to the current situation.
Instead of addressing log in problems and disabled withdrawals, OmegaPro is busy promoting Eric Worre’s upcoming Virtual Go Pro conference.
Through association with OmegaPro, GSPartners and EvoRich to name a few, Worre, an MLM veteran with decades of experience, is fast becoming the face of MLM related financial fraud in Dubai.
Brought on by corporate as Official Strategic Coach, Worre is tasked with training OmegaPro affiliates in recruiting new victims.
Part of the undisclosed financial arrangement appears to be funneling OmegaPro investors into Worre’s “Go Pro” events.
Tickets start at $497 and top out at $4997. Worre claims he sold 65,000 tickets to last year’s event.
Whether OmegaPro restarts their collapsed Ponzi scheme remains to be seen. It’s still a possibility, but once a Ponzi collapses the writing is on the wall.
Reboots don’t last as long as the original run – with all but the dumbest of investors bagholding while everyone else cashes out.
Launched in 2019, OmegaPro is a Dubai based Ponzi scheme run by serial scammers Andreas Szakacs (Sweden), Mike Sims (US) and Dilawar Singh (Germany).
OmegaPro has been careful not to target the US, and instead has focused on scamming investors in third-world countries.
Of the 2 million visits SimilarWeb tracked to OmegaPro’s website in October 2022 (down from 2.6 million in September), 43% were from Colombia, 18% were from Argentina and 8% were from Mexico.
To date OmegaPro has received regulatory fraud warnings from France, Belgium, Congo Republic (multiple arrests), Spain (two fraud warnings), Mauritius, Argentina, Colombia, Peru, Chile and Nicaragua.
Pending unlikely intervention by regulators in Dubai, or OmegaPro rebooting its collapsed Ponzi scheme, we’ll keep you posted.