Alex Reinhardt’s Banqiro Ponzi scheme has collapsed.
In an replace posted to Telegram, Reinhardt confirmed Banqiro promoters had didn’t recruit new victims.
Expensive BNQ supporters,
The success of a undertaking at all times relies upon at the start on funding and the curiosity of potential companions in offering this funding.
Sadly, we now have realised that this curiosity was and is clearly not current to the extent required.
The administration has due to this fact determined to terminate the “Banqiro” undertaking with speedy impact.
To dissuade complaints to regulators, Reinhardt is promising Banqiro buyers a refund plus “5% particular bonus”.
All supporters who maintain the BNQ token can be refunded their contribution plus a 5% particular bonus.
The refund can be made in an automatic course of, which is predicted to be accomplished by 30 November 2023.
Given Reinhardt’s lengthy historical past of stealing cash by means of MLM crypto Ponzis and Banqiro’s low investor depend, this isn’t out of the query. We after all don’t have any approach of confirming whether or not refunds will exit by the said November thirtieth deadline.
Banqiro launched in mid 2023 and was an MLM crypto Ponzi constructed round BNQ token.
Banqiro existed within the shadow of Reinhardt’s a lot bigger Platin* sequence of Ponzi schemes. The newest Platin* Ponzi iteration is Ultima, launched a number of months after Banqiro.
Ultima follows not less than 4 reboots of Reinhardt’s Platin* Ponzi schemes. The enterprise mannequin is at all times the identical; launch a shit token, pump the token’s worth with wash buying and selling, get new buyers on board and money out.
This may be seen within the PLCUC buying and selling chart (PLCUC was the final collapsed Platin* Ponzi iteration earlier than Ultima):
Reinhardt, believed to be a German nationwide, fled to Dubai in 2021.
Regardless of years of Reinhardt defrauding shoppers by means of numerous MLM crypto Ponzi schemes, up to now German authorities have didn’t take motion.