The GoldenWay Ponzi scheme is no longer working.
According to a letter sent to investors on January 6, withdrawals have been “suspended” for four months.
In addition to turning off withdrawals, GoldenWay also canceled any withdrawal requests that were already in the works.
Investors can still put more money into the company and bring in more investors.
The collapse was caused by a “loss of momentum in gold sales,” according to the minutes of a meeting of GoldenWay’s leaders that are making the rounds.
GoldenWay’s Ponzi scheme is set up to look like investors are buying gold.
The same circular says that GoldenWay will allow withdrawals again “as society changes.”
GoldenWay was a Boris CEO Ponzi scheme that was run by scammers in Ukraine who had connections to Dubai.
Olesya Galusha played Boris, the CEO of GoldenWay (left in the screenshot below).
No one knows how many people have been scammed by GoldenWay or how much money they have lost.
In October 2022, Russia warned people about the GoldenWay pyramid scheme.
Unfortunately, Ukraine isn’t known as a place where MLM Ponzi schemes are closely watched. Dubai turns a blind eye to securities fraud, which helps Ponzi scammers, so don’t expect any government action there.
Over the past few months, SimilarWeb saw more and more people going to the GoldenWay website.
It is thought that 839,000 people went to the GoldenWay website in October 2022. That number doubled to 1.6 million in December 2022.
Most of the people who visit the GoldenWay website are from Russia (23%), France (11%), and Spain (9%).