Despite the arrest of 9 people linked to the CoinPlex pyramid scheme and media announcements about refunds, the true creators of the scheme remain elusive. The CoinPlex portal has introduced a "refund" mechanism, but it requires victims to pay 30% of their funds as a deposit fee - a classic trap that has turned out to be yet another way of extracting money from people who have already been defrauded.
In the meantime, two sister pyramids have also collapsed: TS Vertex and Zscoo, which operated in parallel, promising astronomical profits thanks to "AI algorithms". Their method of operation, the timing of their collapse and their advertising were strikingly consistent with CoinPlex - which may suggest cooperation or central control.
The "refund" mechanism as a new scam
CoinPlex encourages users to take part in a special refund portal, but the conditions are suspicious: users must pay a "security deposit" equal to 30% of the amount they are seeking to withdraw. Some users who tried this lost additional sums and received nothing in return.
This is a classic scenario: victims, hoping to recover at least part of their funds, agree to further fees - out of desperation and a wish to get their money back.
What does this mean for investors?
- The arrest of local acolytes (recruiters) is often merely damage limitation - those who devised the entire scheme remain out of reach.
- A demand for a deposit in order to receive a refund is a typical modus operandi of fraudsters - beware of such arrangements, especially in times of crisis.
- Repeated pyramid schemes that collapse at the same time suggest that central structures controlling multiple brands may be behind them.
Our comment
The crypto fraud scene is like a hydra - you cut off one main head and several new ones grow back. The arrests are a PR gesture, but the real fight begins with assessing the structure, tracing the funds and preventing the creators from being identified.
Global Tax Partners offers clients risk analysis for crypto projects, verification of "refund" mechanisms, and legal and tax support if you suspect that you have fallen victim to such a scheme. Before you believe any promises of "recovery" - check it with us.
Have a question about this?
The first consultation is free - let us talk about your situation.
