Swapnex was a Ponzi scam that failed.
Swapnex withdrawals have been limited, according to a statement to investors.
Swapnex, rather than admitting to conducting a Ponzi scheme, blames its demise on “market conditions.”
Traders and investors are concerned about the current market environment. Withdrawal demands have caused several exchanges to become overburdened. The Fear and Greed Index for Cryptocurrencies is below 25.
Market participants are panicking and selling their assets and withdrawing funds from exchanges and projects to protect their profits. At the same time, they continue to lose money since the exchanges store funds and demand exorbitant transaction costs.
The Swapnex platform just serves as a conduit between you and the exchange brokers. Due to exchange payment delays, our brokers are currently unable to fulfill all orders and payment requests.
Exchanges are simply unable to complete all transactions in time due to the high volume, which has an impact on our operations.
Payments on platforms take a long time to process. We sometimes have to wait more than a day for our brokers to send or receive money. As a result, we have amassed obligations to you.
TL;DR: The Bitcoin crisis last week hastened the eventual downfall of our Ponzi scam.
Investor withdrawals have been restricted to $100 in a bid to prolong Swapnex’s demise.
Swapnex withdrawal difficulties began late last week, prompting the limitation. All pending withdrawals above $100, as far as I know, have been canceled.
The $100 withdrawal restriction on Swapnex is in effect until May 17th for two reasons:
1. to watch if the cryptocurrency market recovers this week, and 2. to allow Swapnex’s administrators time to detach themselves from the Ponzi scheme if it doesn’t (run away with your money).
Official communication lines have been “muted” to prevent Swapnex affiliates from discussing the collapse.
Relax, calm down, don’t panic, take it easy on Sunday, and be patient. Everything will turn out OK. SWAPNEX has your back!
The discussion is temporarily muted to reduce and eliminate the repetitious queries and FUDs. Thank you for your understanding and patience.
Swapnex is a Ponzi scam promoted by Boris CEO Rupert Godman.
Swapnex withdrew its marketing videos and Godman made his social media private when BehindMLM revealed Godman as the actor behind Swapnex’s Marcus Huber Product Director.
Swapnex’s true perpetrators are thought to be the standard Russian suspects.
Swapnex’s withdrawal limits have been extended till May 24th, 2022.
20th of May, 2022 – Swapnex’s behind-the-scenes departure swindle is now complete.
The Ponzi scheme’s website will be taken down soon, according to investors.