Shavez Anwar, a figure tied to multiple alleged cryptocurrency fraud schemes, launched 3FO from Dubai in June 2025, operating under the website 3fo.ai. This venture, privately registered, is the latest in a series of online investment platforms linked to Anwar, also known as Shavez Ahmed Siddiqui. Authorities have issued multiple warnings against his previous operations.
Anwar first gained notoriety as a central figure in Sam Lee's HyperFund Ponzi scheme. After HyperFund collapsed, Anwar continued to work with Lee on HyperOne, where he served as "Operation Head of Asia Pacific." This collaboration extended to StableDAO, which was positioned as a successor to HyperTech Group, the parent company of Lee's earlier HyperCapital and HyperFund Ponzis.
Through StableDAO, Lee launched several other schemes, including StableOpinion, VidiLook (rebooted as ViviLook 2.0 and later VEND), WeAreAllSatoshi, Satoshi Math Club, and Boomerang Trade. A disagreement between Lee and Anwar led Anwar to take over We Are All Satoshi (WAAS) as his own project. After multiple failed WAAS reboots, Anwar launched Lquid Finance and Lquid Pay.
Lquid Pay reportedly sold debit cards connected to Visa's network. Commissions were paid for recruiting affiliates, residual commissions, and funneling investors into other BTCC token scams. 3FO's website lists some of these scams as Deobank, Protocol Yield, LFG, and DeFi Fund Access.
Regulatory bodies have repeatedly flagged Anwar's schemes. California issued a desist and refrain order against We Are All Satoshi in September 2023 for securities fraud. New Zealand followed with fraud warnings for We Are All Satoshi and Boomerang Trade in August 2024, and for Lquid Finance in May 2025. Quebec issued a securities fraud warning against We Are All Satoshi in November 2024. Australia also issued a securities fraud warning for Lquid Finance and LquidPay in June 2025.
3FO offers no retail products or services. Its promoters market membership in the scheme itself. Investors put $500 in Ethereum (ETH) into "Ignition Packs," with the promise of a $5 weekly passive return. The return on investment (ROI) is capped based on the number of packs purchased: one pack yields 200% ROI, two packs yield 300%, and three packs yield 400%. An "Alpha Yield Plus Pack" investment of $500 promises $1000 to $2000 ROI, though the mechanism for this is not detailed. MLM commissions count toward these ROI caps, requiring new investment to continue earning once the cap is reached.
The MLM component of 3FO pays commissions based on recruiting new investors. There are ten promoter ranks, each with specific recruitment and downline investment volume requirements. For example, "Boot Sequence" requires recruiting three promoters, a total downline of 30, and $15,000 in downline investment. Higher ranks, such as "Code Origin," demand 20 recruits, a "Meta Protocol" rank or higher in four separate legs, and a total downline of 30,000 promoters. Active investments are required for recruited promoters to count towards rank qualification.
Residual commissions are paid through a unilevel compensation structure, capped at fifteen levels. Personally recruited promoters (Level 1) yield 10% of their ETH investment, unlocked by recruiting two investors. Higher levels pay smaller percentages, with unlock requirements tied to recruiting more investors. For instance, Level 15 pays 1%, requiring 20 recruits.
3FO also offers an ROI Match, using the same unilevel team structure and unlock criteria. Level 1 provides a 10% match, while levels 2 through 4 offer a 5% match. Levels 14 and 15 pay a 2% match. Additionally, one-time Rank Achievement Bonuses are awarded. Qualifying for "Boot Sequence" earns $1000, while "Code Origin" promises $10,000,000. Full participation in 3FO's income opportunity requires a minimum $500 "Ignition Pack" investment in ETH.