BigWhale has acknowledged an emergency stop and desist issued in opposition to it yesterday.
And in doing so, has additionally confirmed the top of their “we obtained hacked!” exit-scam.
In an replace printed after the Texas State Securities Board’s order was made public, BigWhale introduced it was
terminating all operations indefinitely, with no intentions of relaunching or resuming enterprise actions at any future level.
When BigWhale discovered it was beneath investigation by regulators within the US and Canada is unclear.
Inside two days of receiving the discover from the TSSB, dated 4th October, 2023, BigWhale.io proclaims the rapid cessation of all operations, efficient instantly, and the discontinuation of providers to prospects in each america and Canada.
Stated investigations nonetheless seem to have triggered BigWhale’s preliminary collapse and “we obtained hacked!” exit-scam ruse.
That was on October 2nd. On October third, an in try and dissuade victims from submitting complaints, BigWhale got here up with a refunds ruse.
We shall be refunding all whole deposits of all traders, in an ascending order of stake measurement and ROI thought-about, beginning on 9 October 2023.
In gentle of TSSB’s emergency stop and desist, BigWhale’s refunds ruse has been uncovered for the sham it at all times was.
Relating to the Refund Program that we had printed prior to those regulatory notices coming to gentle, because of the nature of regulatory and authorized circumstances surrounding this, we shall be suspending the Refund Program indefinitely.
BigWhale was an MLM crypto Ponzi scheme run from India by Indian nationwide Syed Sameer (proper).
After BehindMLM printed its BigWhale evaluation in July, mentioning the Ponzi scheme’s authorized deficiencies, we had been threatened with authorized motion.
BigWhale.io can not legally disclose (and is beneath no obligation to) the small print, names, addresses and any private or non-public data of the purchasers it really works with – that is relevant to each its traders, in addition to debtors.
BigWhale.io is beneath no obligation to reveal the non-public data / non-public particulars of its workers members, founders / homeowners.
Neither BigWhale.io – nor Quizam Media Corp – each of that are fully unrelated firms in two totally different jurisdictions – have something to do with securities, and as such, they don’t have anything to do with the British Columbia Securities Fee as said in your web site.
We serve this letter to you in good religion and want to resolve this matter amicably first.
As such, we request that defamatory feedback and content material in addition to deceptive statements about all three events, particularly Marianna Vilchez, be taken down fully or modified in such a means the place it’s not in violation of defamation / libel legal guidelines of Canadian, US and Swiss jurisdictions, out of your web site, BehindMLM.com inside seven enterprise days as of the time of serving this discover to BehindMLM.com, Google LLC, GoDaddy, Inc., failing which, all three events as talked about in factors 9.1, 9.2, 9.3. will search authorized and punitive damages and provoke acceptable authorized motion in opposition to BehindMLM.com, its founders and workers, its internet host and promoting associate.
Clearly we didn’t adjust to BigWhale’s threats, as a result of BigWhale was certainly committing securities fraud and working a Ponzi scheme.
Via BigWhale, Syed Sameer is believed to have stolen thousands and thousands from BigWhale traders. Pending any additional developments, we’ll preserve you posted.