Before Christmas, Simb Emile Parfait’s Liyeplimal Ponzi scam failed.
LimoCoin SWAP was used to restart the program, but reports suggest things aren’t going very well.
The initial Liyeplimal business plan called for the Ponzi to run through Limo and XAF.
Both are ERC-20 shitcoins that can be created for little to no money in 5 minutes.
Liyeplimal’s collapse occurred on or about December 2.
Limo and XAF are no longer used, and LimoCoin SWAP has taken their place.
According to reports, the blockchains of Ethereum and Binance smart chain are both used by LimoCoin SWAP.
According to a reader, LimeCoin’s price “fell from initially 1 USD+ to somewhere under 0.04 USD” during the past month.
The current internal value of LimoCoin SWAP is not made available on Liyeplimal’s website.
The public listing price for LimoCoin SWAP on BSC is 3.2 cents.
Numerous regulatory warnings were issued for Liyeplimal in late 2020 and early 2021.
In Africa, COSUMAF began operations in October 2020. Angola, West Africa, and Canada came after them (BC and Quebec).
Global Investment Trading, the parent business of Liyeplimal, changed its name to Simtrex Commercial Brokers LLC in response to increased regulatory scrutiny.
Parfait himself left for Dubai from Africa. Dubai serves as a sanctuary for MLM fraudsters because of its few extradition treaties and lack of any active legislation against MLM securities fraud.
Liyeplimal claims to have “a bitcoin mining license in Dubi [sic]” on its website.
According to Alexa’s traffic data, Cameroonian citizens make up the majority of Liyeplimal victims (13 percent ).
Update: Liyeplimal’s LimoCoin SWAP has likewise crashed as of February 20, 2022.