The Daxio Ponzi scheme run by Frode Jorgensen has failed.
Messages from October 2022 show that investors’ withdrawals are “in limbo.” As of December 12, Jorgensen is still putting things off.
In September 2022, BehindMLM readers started talking about problems with coming off of Daxio.
In a statement made on October 15, Jorgensen admitted that there was a problem:
The site could be taken offline more than once next week, starting on MONDAY, October 17th, so that updates can be made.
We will try to do it as quickly and in steps as possible so that the site can still be used while the work is being done.
We’re almost done with everything you’ve been waiting for, and we’ll start releasing updates one by one.
The NFT Shop page has already been updated, and Minting will begin as soon as the last updates are made.
This means that WITHDRAWALS WON’T BE IN LIMBO ANYMORE!
In August 2022, an NFT metaverse scam was added to Daxio in an attempt to make it more appealing to more people.
As of November 9, neither the Daxio website nor withdrawals were working.
The work on the NFT Shop & Swapping is done, and the website will be up and running soon.
This happened at the same time that Daxio stopped letting people invest in Ethereum and only accepted SDAX.
SDAX and GDAX are both garbage tokens that Daxio made as part of its metaverse NFT scam.
In an update on November 11, Jorgensen said that Daxio withdrawals were still not working.
Because things are taking longer than we were told (and expected), and most importantly so that our members don’t get stuck in limbo, we decided to turn on Value Vouchers UNTIL the instant withdrawal is fully functional.
We still think Instant Withdraw will be ready in a few days, but until then, we will still do manual withdrawals as usual. Once it’s life, we’ll turn off value vouchers for Daxio Wallet again.
Jorgensen went on to announce new $500 “Node License” investment positions, even though withdrawals were still not possible.
The next update from Jorgensen about Daxio withdrawals is on December 2;
We’re almost ready to release Instant Withdraw, and when we are, we’ll do it right away without warning.
To use your pending withdrawal once it’s life, you have to cancel it yourself.
Jorgensen held a Daxio Corporate Call on December 22.
[1:30] Not just for us in management, but also for you members who have been waiting patiently for your withdrawal, the last few months have been very hard.
Some of you have been very patient, while others haven’t been. But that’s the way it is… Now, everything should be in place, and it should be getting close to being ready to be rolled out.
Then, Daxio says that the “crypto winter” of 2022 is to blame for Daxio’s failure.
[3:18] We’ve had a hard time with it because it has affected us a little bit.
When it came to LUNA and the stablecoin they had, not a lot, but a little bit. We weren’t affected by the FTX crash in any way that was different from everyone else. And the market dropping a lot, right?
Everything is affected, and everything is linked. So not only Daxio has had a hard time, but everyone you know has too. Everywhere, the market is very tough.
The war in Europe is making people feel bad, and inflation is high. And, uh, a lot of things in 2022 have been hard.
As of Jorgensen’s call, Daxio’s “instant withdraw contract” is “currently being tested” and is “almost there.”
[5:40] We’re almost there, and this time we know for sure that it will happen. We won’t have to wait another three or four months for this.
Since December 22, there have been no more changes to Dixie.
In the future, on January 28, Daxio will hold an event in Thailand.
The original plan was for the event to take place from January 27th to January 29th and be for Daxio investors. Now, it’s attached to a “local government event” that is a fun run that “locals and tourists will attend.”
This seems to be an unrelated local event that has nothing to do with Daxio, which Jorgensen has paid to be a sponsor or partner of. No matter what the plan is, Jorgensen wants to promote Daxio to “thousands of possible new members.”
Jorgensen (on the right) is from Norway, but he lives in Thailand. Dixie is run by a “shell company” that was set up in the British Virgin Islands.
Last month, the Norwegian Lottery Board said it was looking into it and had talked to Daxio about possible pyramid schemes.
Between then and now, Daxio and Jorgensen were told to stop doing business right away.
Even though overall visits to Daxio’s website are down (as is recruitment), Sweden (53%), Hungary (25%), and the UK (11% of all visits) are where most of the traffic comes from.