Karatbars Worldwide, Karatbit Alternate and V999 have obtained securities fraud warnings from Alberta, Canada.
The ASC added Karatbars Worldwide, Karatbit Alternate and V999 to its Funding Warning Checklist on or round March fifteenth.
The ASC advises;
To assist inform and defend traders, the ASC offers an inventory of firms and people that aren’t registered with the ASC and that look like partaking in actions that both require registration underneath Alberta securities legal guidelines or could also be funding scams.
Buyers are inspired to seek the advice of this listing if they’re contemplating investing, particularly if they’re approached with an unsolicited funding alternative.
Karatbars Worldwide was run by Harald Seiz, a needed German nationwide who has since fled to Thailand.
Karatbars Worldwide launched in 2011 as a easy gold-themed pyramid scheme.
Round 2018 Seiz partnered up with Josip Heit, and thus started Karatbars Worldwide’s transition to crypto fraud.
Karatbank Coin’s “KBC” ICO was introduced in February 2018. By 2019 KBC had been dumped for KGC.
After months of promoting hype, KGC launched on July 4th, 2019 – solely to quick collapse thereafter.
There was an try and resuscitate Karatbars Worldwide with V999 (KGC was deserted shortly after it collapsed), nonetheless that simply resulted in even deeper investor losses.
Ultimately Josip Heit break up and went on to launch his personal GSPartners “G999” Ponzi clone.
Heit persevered with Karatbars Worldwide, occurring to launch Freebay, Lifebase and Minebase.
Inside the Karatbars Worldwide crypto fraud ecosystem, Karatbit Alternate served because the platform associates had been (theoretically) capable of money out returns and recruitment commissions.
As of February 2023, SimilarWeb tracks negligible visitors to Karatbit Alternate’s web site. Karatbit Alternate’s social media profiles had been deserted in February 2020.
V999’s standalone web site continues to be up, with SimilarWeb monitoring 10,000 visits to the positioning final month. That is up from simply 690 visits in January 2023, suggesting the visitors may be attributed to the Minebase reboot.
Canada was one of many first nations to take motion in opposition to Karatbars Worldwide. Approach again in 2014 the AMF (Quebec) issued a Karatbars pyramid scheme warning.
This ultimately led to Karatbars Worldwide being banned in Quebec in 2016.
Exterior of Alberta and Quebec, Karatbars Worldwide has attracted regulatory consideration in Namibia, Germany, South Africa, New Zealand, Ontario and the Bahamas.
At of February 2023, SimilarWeb ranks high sources of visitors to Minebase’s web site as Germany (21%), Venezuela (14%), Ecuador (12%), Spain (8%) and the US (7%).
