Christian Lipovec, previously a promoter of the failed AladinCoin Ponzi scheme, now leads Akyoh, a new cryptocurrency investment platform. Akyoh announced its "grand opening" in Cambodia for September 15, 2018, primarily targeting investors in Vietnam.

Lipovec, who appears to be based in Austria, actively promoted AladinCoin before its collapse. As recently as March 17, he posted on Facebook about visiting "Aladin Capital," commenting on its impressive growth. His past activities also include involvement with Lyoness.

Akyoh claims to be a "technology investment company" based in Cyprus. However, no evidence supports any operational presence there. Cyprus often attracts multi-level marketing companies that struggle to obtain licensing in more regulated jurisdictions, due to its less stringent oversight.

The company's primary audience resides in Vietnam. Alexa data indicates 96% of Akyoh's website traffic originates from Vietnam. The choice of Cambodia for the grand opening likely stems from its proximity to Vietnam, aiming to avoid scrutiny from Vietnamese regulators. Beyond this geographical convenience, the Cambodia connection lacks any clear business rationale.

Akyoh offers no tangible products or services. Its business model relies solely on affiliates selling Akyoh memberships to new participants, who then recruit others. The scheme presents two distinct investment types.

The "Trader" packages promise variable returns over 365 days. A Basic Trader package costs $500. The Pro Trader option is $2,000. The Master Trader package, priced at $5,000, advertises returns of at least 30%.

Then there are the "fixed" packages, which guarantee specific returns paid out over six months. The Basic Package requires a $180 investment, promising $2,499 in return. The Premium Package asks for $2,500 and offers $7,999 back. The Pro Package turns an $8,000 investment into $19,999. A Pro+ Package takes $20,000 and returns $49,999. The Pro X2 Package requires $50,000, yielding $99,999. A VIP Package demands a $100,000 investment, with undisclosed returns.

All advertised amounts are in U.S. dollars. However, Akyoh accepts only Bitcoin and Avana Coin for investments. No fiat currency transactions occur.

Akyoh pays commissions to members who recruit new investors. This compensation structure extends three levels deep, with payout percentages varying based on the recruiter's own investment package. Basic Package affiliates earn 5% on their first level recruits and 1% on the second level. Premium package holders receive 6% on level one, 2% on level two, and 1% on level three. Pro through Pro X2 packages gradually increase the level one commission from 7% to 9%. The VIP package offers the highest commission, paying 10% on level one, 2% on level two, and 1% on level three.

The company also implements rank-based bonuses. A compensation plan document, found in Vietnamese, suggests a 5% bonus for a certain period, additional percentages based on personal recruits' investments, and a 3% bonus pool distributed by rank. Achieving these ranks requires meeting minimum investment thresholds, downline volume, and personally recruited affiliates.

Joining Akyoh is technically free. However, participation in the income opportunity requires a minimum investment of $180.

Akyoh appears to be a direct reboot of the AladinCoin operation. The collapse of AladinCoin likely prompted its operators to restart under a new name, shifting focus to the Vietnamese market. The investment package names in Akyoh are nearly identical to those used in the defunct AladinCoin scheme, suggesting the same individuals are behind both ventures.

The integration of Avana Coin is particularly revealing. Avana Coin is an ERC20 token traded on only a few obscure exchanges. These exchanges were likely established by the same individuals running Akyoh, serving as internal platforms with no external utility for the token. Akyoh likely pays out returns in Avana Coin rather than Bitcoin. Investors fund their accounts with Bitcoin and Avana, then receive their payouts in Avana. This mechanism forces investors to attempt selling their Avana Coins on these controlled, illiquid exchanges, making Avana Coin a central tool for laundering funds within the fraudulent scheme.

Akyoh claims its returns originate from an "A.T.A.I." trading bot, which it describes as advanced and revolutionary, suitable for both beginners and experts. No evidence supports the existence of this bot, nor any trading activity. The claim defies basic economic logic. Any bot capable of consistently generating returns like 200% every six months would be exploited privately by its developers for immense personal wealth, not offered to the general public through a multi-level marketing scheme.

AladinCoin previously claimed backing from financial institutions and hedge funds before its inevitable collapse. Akyoh's revenue generation claims warrant similar extreme skepticism. The only funds entering Akyoh come from new investor deposits. Using money from new investors to pay returns to existing investors constitutes the textbook definition of a Ponzi scheme.

The original AladinCoin and its AIC token ultimately failed. The current Akyoh operation, using Avana Coin, is expected to follow the same trajectory. Investors will lose their money when this Ponzi scheme collapses, a process that may unfold even faster than AladinCoin's demise. Rebooted scams rarely perform as well as their predecessors.