Frode Jorgensen’s Daxio Ponzi scheme has collapsed.
Communications courting again to October 2022 reveal investor withdrawals are “in limbo”. And as of December twelfth, Jorgensen continues to be stalling.
BehindMLM readers started reporting Daxio withdrawal issues in September 2022.
Jorgensen acknowledged the issue in an October fifteenth announcement:
Website could be taken offline a number of instances within the coming week, beginning on MONDAY seventeenth October for updates.
We’ll attempt to do it as swiftly as we will and in steps in order that the positioning will probably be practical in the course of the course of.
We’ve got virtually accomplished every part that you simply all are ready for and can begin rolling out updates one after the other.
NFT Store web page have been up to date already and Minting will begin as soon as remaining updates are rolled out.
Because of this WITHDRAWALS WILL NO LONGER BE IN LIMBO!
In an try and broaden Daxio’s Ponzi enchantment, an NFT metaverse grift was added in August 2022.
As of November ninth, Daxio’s web site and withdrawals remained disabled.
The work with the NFT Store & Swapping is accomplished and we will probably be opening the web site shortly.
This coincided with Daxio disabling ethereum funding and solely accepting SDAX.
SDAX, together with GDAX, are shit tokens Daxio created as a part of its metaverse NFT grift.
In a November eleventh replace, Jorgensen confirmed once more that Daxio withdrawals weren’t practical.
As a result of issues have been taking longer than we had been advised (and anticipated) however most significantly, to assist our members to maintain their wheels turning and never get caught in limbo, we determined to allow Worth Vouchers UNTIL the moment withdrawal is 100% practical.
We nonetheless count on the On the spot Withdraw to return inside few days and we are going to nonetheless do handbook withdraw as common till its [sic] dwell. As soon as its [sic] dwell we are going to once more disable worth vouchers with Daxio Pockets.
Regardless of withdrawals nonetheless being disabled, Jorgensen went on to announce new $500 “Node License” funding positions.
Jorgensen’s subsequent replace relating to Daxio withdrawals is dated December 2nd;
We’re getting near the discharge of On the spot Withdraw and can roll this out instantly with out discover when its [sic] prepared.
You should cancel your pending withdraw your self to have the ability to use it as soon as its [sic] dwell.
On December twenty second Jorgensen held a Daxio Company Name.
[1:30] It’s been some actually actually tough months, not only for us right here at administration, but additionally for you members which were ready in your withdrawal patiently.
A few of you may have been very affected person, a few of you haven’t been so affected person. However it’s what it’s … and hopefully now it’s all in place and it’s beginning to be able to be rolled out.
Daxio goes on to deduce that the 2022 “crypto winter” is in charge for Daxio’s collapse.
[3:18] It’s been robust for us as a result of we now have been affected by it somewhat bit.
Not a lot however somewhat bit when it got here to LUNA and the steady coin that they’d. We weren’t affected by the FTX crash in every other method than everyone else was affected by it. And the market taking place loads, you recognize?
It’s affecting every part and it’s all interconnected. So it’s not simply Daxio that has had a tricky time, it’s in all places you recognize. The market is tremendous robust in all places.
Inflation is tremendous excessive, we now have the struggle in Europe that’s actually inflicting an impact on individuals. And uh, many many issues have been difficult in 2022.
As of Jorgensen’s name, Daxio’s “immediate withdraw contract” is “at the moment in testing” and “virtually there”.
[5:40] We’re virtually there now, and this time it’s really 100% certain. It’s not gonna be one other three months or 4 months delay on this.
There have been no additional Daxio updates since December twenty second.
Trying ahead, Daxio is holding an occasion in Thailand on January twenty eighth.
The unique occasion was presupposed to run from January twenty seventh to twenty ninth and be for Daxio buyers. Now it’s piggybacked onto a enjoyable run “native authorities occasion” with “locals and vacationers attending”.
This seems to be an unrelated native occasion that has nothing to do with Daxio, which Jorgensen has paid to be a sponsor/accomplice of. Regardless of the association, Jorgensen hopes pitch Daxio to “1000’s of potential new members”.
Jorgensen (proper) is a Norwegian nationwide based mostly out of Thailand. Daxio operates by a shell firm integrated within the British Virgin Islands.
Final month the Norwegian Lottery Board revealed it was investigating and had raised pyramid scheme considerations with Daxio.
Within the meantime, Daxio and Jorgensen had been ordered to instantly stop enterprise operations.
Whereas general visits to Daxio’s web site are down (together with recruitment), SimilarWeb tracks visitors from Sweden (53%), Hungary (25%) and the UK (11%).
