What happened: MBIDefi is a latest scheme by known Malaysian scammer group MBI Group International. Some of their key people even got arrested, but they decided to jump in on DeFi market, seizing the opportunity, as that's what scammers do. They even kept the same name of their currency, MCoin, under which they scammed thousands of people out of millions of USD.
Flag Type 1 https://bitcointalk.org/index.php?action=trust;flag=2338ANN
https://bitcointalk.org/index.php?topic=5276809.0Archive
https://archive.fo/xgaJaWebsite
https://www.mbidefi.io/about_usArchive
https://archive.vn/Vl6jEDomain Name: MBIDEFI.IO
Registry Domain ID: D503300001186288457-LRMS
Registrar WHOIS Server: whois.namesilo.com
Registrar URL:
http://www.namesilo.comUpdated Date: 2020-08-27T08:35:17Z
Creation Date: 2020-08-22T08:05:43Z
Registry Expiry Date: 2022-08-22T08:05:43Z
It is interesting that they are even mentioning their previous scheme, and even calling it "one of the most successful empires in the history of blockchain"
And another confirmation that MBIDeFi is based upon their previous scam
What would this kind of scheme be without attractive referral program?
And here are some news about MBI Group International and their previous endeavors
Because of all these financial crimes, MBI ended up on Bank Negara’s Financial Consumer Alert list. Even the Financial Markets Authority of New Zealand (FMA) issued a warning against MBI in light of its misleading seminars within the Chinese speaking community in Auckland.
Some investors have also been angry towards MBI. In June last year, an unhappy investor said in an online forum that he had lost his personal sum of 35,000 yuan (RM22,000) and his group in Guangxi has lost a sum of 51.6 million yuan (RM32.4 million) from investing with MBI. In the same forum thread, The Star found that 69 investors were gonna come to Malaysia to demand that MBI return their investments following Teow’s arrest.
A few months after that, MBI came under the spotlight again with estimated losses of RM700 million, which police believed involved 350,000 victims. Despite its notoriety, MBI still retained a strong presence last year, especially in Penang.
https://cilisos.my/this-penang-bitcoin-is-so-big-they-have-their-own-mall-but-polis-raided-twice-adiChinese MBI International Ponzi victims protest in MalaysiaInvestors up in arms after fall of MBI Explanation of their previous scheme, similarity with MbiDefi is obvious
https://behindmlm.com/mlm-reviews/mbi-international-review-recruitment-grc-unit-investment/
