The Earn World Ponzi scheme has collapsed.
Traders are being lied to about restoration and proprietor Suki Chen is believed to have gone into hiding.
Earn World’s pending collapse manifested itself within the first week of July.
On or round July sixth, Earn World buyers had been locked out of their accounts below the guise of “upkeep”:
On July ninth, Earn World blamed its unscheduled upkeep on a “drastic crash” within the “crypto market”.
We tackle you as we speak within the wake of current unprecedented occasions which have considerably impacted the crypto market and subsequently led to a drastic crash.
This market crash impacted us … ensuing within the liquidation of our buying and selling positions.
Earn World acknowledged it was “evaluating the state of affairs” and promised additional updates.
Over the approaching days, Earn World buyers report having been instructed the corporate misplaced 90% of invested funds by purported buying and selling losses.
Leonard Benn: [Suki] instructed us that approx. 10% of the corporate funds are left. That is even too much less to run the corporate additional on with all the staff.
No verifiable proof of Earn World ever producing income through buying and selling actions has ever been supplied. The identical is true of its “90% losses” exit-scam.
On July eleventh Earn World introduced it had cancelled an upcoming incentive journey to Bali.
On July 14th Earn World introduced it had restored “pockets and node” performance. As of July twenty first, Earn World withdrawals stay disabled.
Earn World is a reboot of the collapsed Streakk Ponzi scheme.
Streakk launched in 2022 and collapsed in January 2024.
Earn World was instantly launched as a reboot rip-off and lasted six months earlier than it too collapsed.
Each Streakk and Earn World had been run by Indonesian nationwide Suki Chen (aka Sukijami Chendrawan).
Within the wake of Earn World’s collapse, Chen has gone into hiding.
The next is 2 separate dated communications from Earn World “leaders” determined to maintain victims from turning on them.
July eighth – Proper now [Suki] is within the US making ready his subsequent flight to El Salvador relating to the arrange of our new constructing.
July 14th – Nobody can attain [Suki] over conventional telephone and subsequently the thought of shortly flying to San Salvador by some leaders is nice however after all not doable as we merely all don’t know the place he’s for certain.
Whether or not Chen was truly within the US or El Salvador is unclear. Chen’s final confirmed location was Dubai, from the place he ran each Streakk and Earn World.
Because of the proliferation of scams and failure to implement securities fraud regulation, BehindMLM ranks Dubai because the MLM crime capital of the world.
It appears unlikely Chen would go away Dubai as a part of Earn World’s collapse.
What we are able to affirm is, coinciding with Earn World collapsing and Chen going into hiding, advertising and marketing materials printed on BusinessForHome has been quietly deleted.
Proprietor Ted Nuyten hasn’t publicly addressed Earn World’s collapse or the removing of suspected paid content material from BusinessFromHome.
Concerning investor losses, for now the one determine we’ve got to go on is Earn World’s self-reported $200 million in theft over 2023.
As of June 2024, SimilarWeb tracked prime sources of site visitors to Earn World’s web site as Russia (30%), Indonesia (10%), Ukraine (8%), Germany (6%) and Spain (3%).