Warning database
Our investigators maintain a live database of known scam entities and clone firms operating globally. 34 entities logged · 17,211,400 victims reported. If your money went to one of these, act now.
Showing 34 of 34 entities
Organised advance fee fraud networks operating primarily from Nigeria, commonly known as "419 scams." These networks send millions of emails and messages promising large inheritances, lottery winnings, or business opportunities in exchange for upfront payments of taxes, bribes, or legal fees. The Nigeria Police Force and EFCC report these networks target victims in over 150 countries.
A network of unregulated forex brokers identified by Forex Peace Army and other watchdog communities as engaging in fraudulent practices including stop hunting, requoting, withdrawal denial, and price manipulation. These brokers typically operate from offshore jurisdictions like St. Vincent, Vanuatu, or the Marshall Islands with no regulatory oversight. Common names in this network include various clone brands that rebrand and relaunch under new names after accumulating complaints.
A coordinated network of fake cryptocurrency airdrop and giveaway websites that have stolen hundreds of millions in digital assets since 2021. These sites impersonate legitimate projects like IOTA, Cardano, and Solana, tricking users into connecting their wallets or sending crypto to receive "free tokens." The stolen funds are rapidly laundered through mixers and decentralised exchanges.
FTX was a cryptocurrency exchange founded by Sam Bankman-Fried that collapsed in November 2022 after revelations that it had secretly funnelled billions in customer deposits to its affiliated trading firm, Alameda Research. The exchange filed for bankruptcy with approximately $8 billion in customer funds missing. Bankman-Fried was convicted of seven counts of fraud and conspiracy in November 2023 and sentenced to 25 years in prison.
The Squid Game Token (SQUID) was a cryptocurrency launched in October 2021 that exploited the popularity of the Netflix series Squid Game. The token surged in value by over 83,000% in its first days before the developers executed a rug pull, draining approximately $3.38 million from the liquidity pool. The smart contract contained a hidden "anti-whale" mechanism that prevented holders from selling, effectively trapping victims' funds while developers sold their tokens at the peak.
MMM Global is a Ponzi scheme originating in Russia that has targeted victims across Africa, Asia, and South America. Originally created by Sergei Mavrodi in the 1990s, the scheme was relaunched online, promising returns of 30% per month through "mutual aid" contributions. The platform has repeatedly collapsed and relaunched, with millions of victims globally.
Crowd1 is a Swedish-based multi-level marketing company that has been classified as a pyramid scheme by multiple regulatory authorities worldwide. The company sells digital products including gaming and travel packages, but the vast majority of revenue comes from recruiting new members rather than product sales. Regulators in Norway, Belgium, France, and the Philippines have banned or warned against Crowd1. The company has been linked to losses exceeding €200 million across Europe.
Omega Pro was a multi-level marketing organisation that claimed to offer automated cryptocurrency trading with guaranteed returns of 10-15% per month. The platform attracted over 300,000 members globally through aggressive recruitment drives and lavish lifestyle displays by its leaders. Multiple regulatory bodies including the FCA issued warnings against Omega Pro before it collapsed in 2022. Investigations revealed that the automated trading system did not exist and returns were paid from new member deposits.
My Forex Funds (MFF) was a proprietary trading firm that sold "funded trader" challenges to aspiring forex traders worldwide. The company collapsed in July 2023 after thousands of traders reported being unable to withdraw profits. The company was found to be operating a Ponzi-like scheme where new challenge fees paid out existing trader withdrawals. MFF had previously been one of the most popular prop trading firms, with over 500,000 customers. The collapse left traders owed hundreds of millions of dollars.
OneCoin was marketed worldwide as a cryptocurrency, but according to US authorities (the FTC and the Department of Justice) it was a multi-billion-dollar Ponzi and pyramid scheme that sold "coins" with no genuine blockchain and paid recruiters for bringing in new investors. In 2023 the DOJ sentenced a co-founder to 20 years in prison, and its founder has been wanted since fleeing in 2017. A DOJ victim-compensation (remission) programme has also been run. This entry reflects the regulator's public findings - see the linked notice.
IM Academy is a multi-level marketing organisation that sells forex trading education and signals through a subscription model. Regulators across Europe, including the FCA, CNMV (Spain), and BaFin (Germany), have issued warnings against IM Academy for operating as a pyramid scheme disguised as a trading academy. Members are incentivised to recruit new subscribers, with commissions that far exceed the value of the educational content. Many former members report losing their subscriptions while failing to profit from the trading signals provided.
PlusToken was a Chinese cryptocurrency wallet scam that stole approximately $3.5 billion in Bitcoin, Ethereum, and other cryptocurrencies from over 2 million investors. Marketed as a high-yield wallet with guaranteed returns, the scheme used a referral-based pyramid structure. Six key operators were arrested in China in 2020, and the stolen funds were partially traced through blockchain analysis.
USI-Tech was a Dubai-based company that sold Bitcoin trading packages claiming to use proprietary software to generate guaranteed daily returns of 1% for 140 days. The company collapsed in December 2017 after regulatory warnings from multiple countries. Investigations revealed that the trading software did not exist and returns were funded entirely by new investor deposits. The SEC estimated that USI-Tech defrauded investors of over $140 million worldwide.
Celsius Network was a cryptocurrency lending platform that filed for bankruptcy in July 2022 with approximately $4.7 billion in customer liabilities. The platform offered high interest rates on crypto deposits but had secretly lent customer funds to hedge funds like Three Arrows Capital without adequate collateral. CEO Alex Mashinsky was charged with securities fraud and wire fraud.
HashOcean was a cloud mining platform that launched in 2015 and collapsed in late 2016 after operating as a Ponzi scheme. The platform promised guaranteed daily returns from Bitcoin mining operations but had no actual mining infrastructure. At its peak, HashOcean had over 500,000 members and processed over $500 million in deposits. The operators disappeared overnight, taking all remaining funds with them. HashOcean was one of the earliest and most damaging cloud mining scams in cryptocurrency history.
Three Arrows Capital (3AC) was a Singapore-based cryptocurrency hedge fund founded by Su Zhu and Kyle Davies that collapsed in June 2022 with approximately $3.5 billion in liabilities. The fund had secretly borrowed heavily from multiple crypto lenders including Celsius Network, Voyager Digital, and BlockFi without adequate collateral disclosure. The liquidation of 3AC triggered a domino effect across the crypto lending industry. Zhu and Davies fled to undisclosed locations and were later arrested in the UAE.
Wirecard AG was a German payment processing company that collapsed in June 2020 after admitting that €1.9 billion in cash on its balance sheet did not exist. The fraud involved fabricated revenue from third-party acquirers in Asia, fake escrow accounts in Philippine banks, and years of auditor failures. Former COO Jan Marsalek remains a fugitive. CEO Markus Braun was arrested and charged with commercial gang fraud.
BitConnect operated an "exchange" and " lending" program that allegedly promised outsized daily returns generated by a supposed automated trading tool. Regulators including the Texas State Securities Board issued an emergency cease-and-desist in January 2018, alleging an unregistered, fraudulent scheme, and the platform collapsed shortly after, leaving investors unable to withdraw. The returns were widely described as unsustainable Ponzi-style payments. This entry reflects the regulator's public findings - see the linked notice.
Voyager Digital was a cryptocurrency brokerage that filed for bankruptcy in July 2022 after its largest borrower, Three Arrows Capital, defaulted on a $650 million loan. Voyager had marketed itself as an FDIC-equivalent platform, misleading customers about the safety of their deposits. Approximately 3.5 million customers lost access to their funds. The misleading marketing about US dollar deposit insurance led to regulatory action from multiple state agencies.
Thodex was a Turkish cryptocurrency exchange whose founder Faruk Fatih Ozer fled the country in April 2021 with approximately $2 billion in customer funds. The exchange suddenly halted all withdrawals, leaving 391,000 users unable to access their money. Ozer was later arrested in Albania in 2022 and extradited to Turkey, where he was sentenced to over 11,000 years in prison.
OneLambert was a cryptocurrency investment platform that promised weekly returns of 5-12% through proprietary trading algorithms. Operating primarily in the UK and Europe from 2019, the platform attracted thousands of investors before collapsing in 2022. The FCA added OneLambert to its warning list, and investigations revealed that the platform was a classic Ponzi scheme with no actual trading activity. Estimated losses exceeded £50 million across Europe.
QuadrigaCX was Canada's largest cryptocurrency exchange that collapsed in February 2019 after founder Gerald Cotten allegedly died in India, supposedly taking the passwords to $190 million in customer funds with him. Subsequent investigations revealed that Cotten had been running a fraud, misappropriating customer funds and creating fictitious trading accounts. The Ontario Securities Commission confirmed widespread misuse of client assets.
Forsage was a decentralized-finance platform built on smart contracts (Ethereum, Tron and Binance Smart Chain) that the US SEC charged in August 2022 for allegedly operating a fraudulent $300 million Ponzi and pyramid scheme. Investors were sold "packages" and rewarded primarily for recruiting others rather than from genuine business activity, with founders and promoters later facing parallel US criminal charges. This entry reflects the regulator's public allegations - see the linked notice.
Goldline International was a precious metals dealer that came under federal investigation for deceptive sales practices. The company, which had celebrity spokespersons including Glenn Beck and Mike Huckabee, was accused of overcharging customers by 100-300% above market value for gold and silver coins. The company settled with the FTC in 2018, agreeing to pay $4.5 million in consumer refunds and change its sales practices. Thousands of elderly investors were targeted through fear-based marketing about economic collapse.
Zeek Rewards, operated by Paul Burdick through Rex Venture Group, was a $600 million Ponzi scheme disguised as a penny auction affiliate programme. Participants earned "rewards" for recruiting new members and placing bids, but the returns were funded entirely by new investor deposits. The US SEC shut it down in 2012, and Burdick was sentenced to 14 years in prison.
SafeMoon was a cryptocurrency token and platform that the US SEC charged in November 2023 (press release 2023-229), alleging it was sold to the public as an investment opportunity but was in fact a fraudulent scheme, and that roughly $243 million raised was largely not used to build the products investors were promised. In parallel, the Department of Justice (Eastern District of New York) charged the founders and executives with fraud, and a federal jury convicted co-founder Bradley Karony in 2025. This entry reflects the regulators' public allegations and the resulting conviction - see the linked notice.
BitClub Network was marketed as a "transparent" Bitcoin cloud-mining investment that would pay investors passive income. In December 2019 the US Department of Justice (District of New Jersey) charged five individuals with conspiracy to commit wire fraud, alleging the operation was in fact a Ponzi scheme that raised about $722 million from investors worldwide while spending most of the money on the promoters' lifestyle rather than on genuine mining. This entry reflects the DOJ's public allegations - see the linked case page.
Forex Flex EA is an automated forex trading robot that has been sold since 2014 with claims of verified, consistent profits. Investigations by multiple trading communities have found that the vendor's verified results are cherry-picked, the backtests are curve-fitted, and the live trading accounts use demo servers. Thousands of buyers have reported losses after purchasing the software for $300-500 and deploying it on live accounts. The robot uses a martingale strategy that eventually blows up accounts.
Centra Tech conducted a fraudulent initial coin offering (ICO) in 2017, raising $25 million by falsely claiming partnerships with Visa and Mastercard, fabricating executive credentials, and promoting a non-existent cryptocurrency debit card. The project was promoted by celebrities including Floyd Mayweather and DJ Khaled, who were later fined by the SEC for undisclosed paid promotions.
Bernard Madoff operated the largest Ponzi scheme in history, defrauding investors of an estimated $64.8 billion over at least 17 years. Madoff's firm falsely reported consistent returns of 10-12% annually using a fictitious split-strike conversion strategy. The scheme collapsed in December 2008 when the financial crisis triggered a wave of withdrawal requests. Madoff was sentenced to 150 years in prison.
CryptoFX was a purported automated cryptocurrency-trading scheme that the US SEC charged in March 2024 (with co-defendants totalling 17 individuals) for allegedly running a $300 million Ponzi scheme. Investors - many targeted within Latino and Spanish-speaking communities - were promised steady high returns from AI "trading bots", which were allegedly used to disguise that payouts came from new deposits. This entry reflects the regulator's public allegations - see the linked notice.
Allen Stanford operated a $7 billion Ponzi scheme through certificates of deposit issued by his offshore bank, Stanford International Bank, based in Antigua. Investors were promised above-market returns on CDs, but Stanford used the funds to finance a lavish lifestyle and speculative investments. He was convicted in 2012 and sentenced to 110 years in prison.
ClickProfit was an online business-opportunity offer that, according to the US Federal Trade Commission, falsely promised consumers large profits from "AI-powered" online stores that would run themselves. In March 2025 the FTC announced it had acted to halt the scheme, alleging it had cost consumers at least $14 million, with the opportunity marketed heavily through social-media ads and earnings testimonials. This entry reflects the FTC's public allegations and the interim court order - see the linked notice.
CryptoAIML is one of several overseas-based entities the US SEC charged (press release 2026-95) in connection with investment-fraud schemes totalling at least $15 million that allegedly used WhatsApp and other messaging platforms to lure retail investors into fake cryptocurrency-trading offerings. The SEC alleged the operators built trust through group chats and promised returns that did not exist. This entry reflects the regulator's public allegations - see the linked notice.
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