Antares Trade has collapsed, prompting CEO Alex Richter to announce the Ponzi scheme’s exit-scam.

When Antares Trade launched in mid 2020, the company represented it was based out of Mexico.

Today Anatres Trade represents it operates as “Antares Limited”. Antares Limited is a shell company purportedly incorporated in Hong Kong.

In reality, Antares Trade is not based out of either of these countries. We’ll get into that in a bit and why the Ponzi scheme is pulling its exit-scam now.

In videos uploaded to Antares Trade’s YouTube channel earlier today, Richter explains;

Today at 9:30 a.m. local time, representatives of the regulator and police officers came to our central office, as a result of which Antares platform’s activities were completely paralyzed.

Richter doesn’t clarify whether he’s talking about Mexico or Hong Kong, but the implication is authorities in one of these two jurisdiction conducted a raid.

Again, we’ll get into why this didn’t happen in a bit.

As Richter continues, the real reason for his “urgent, unplanned” announcement is given;

The login to users’ personal accounts was blocked, the work of technical support was paralyzed, deposits and 
withdrawals were suspended
, and the accural of investment yield and affiliate bonuses was stopped.

According to the regulator’s employees who came to us, a verification procedure was initiated in relation to our platform, which will last 60 calendar days.

During the verification the work of Antares will be impossible.

First and foremost when authorities conduct a raid they don’t do it without a prior investigation. And they certainly don’t give you sixty days to cover your tracks.

Furthermore you don’t hear about raids from the subject of a raid. The authorities announce it and its usually picked up by the media.

That hasn’t happened with Anatares Trade, because there is no raid.

Antares Trade’s collapse follows the
outing
of “Alex Richter” as Russian national “Aleksey Zhirovkin”.

There’s a few name variations at play here, but on Russian social media “Richter” goes by “
Alexander Zhirovkin
“.

Yep. Antares Trade is nothing more than yet another Russian MLM crypto Ponzi scheme.

To be fair, we’ve
kind of known this
since May 2020.

Anyway, with that in mind, the Central Bank of Russia
issued an Antares Trade fraud warning
on June 1st.

Antares Trade responded to this alert by
shutting down Russian investor accounts
.

And now here we are, with Zhirovkin likely to disappear, a collapse and exit-scam.

Whether Zhriovkin is still in Russia is unclear.

What we do know is Antares Trade is not his first financial crime.

In 2012 Zhirovkin was implicated in a
3.5 million ruble heist
from the M.Video store chain (~$47,000 USD today).

Zhirovkin worked for M.Video and planned and organized the operation.

From his work computer, he opened the database of the holders of bonus cards and made their clones.

Electronics and household appliances were bought with fake cards in othe

🤖 Quick Answer

What is Antares Trade and why did it collapse?
Antares Trade is a cryptocurrency trading platform that operated as a Ponzi scheme since mid-2020, claiming to be based in Mexico and later Hong Kong. The platform collapsed when CEO Alex Richter announced an exit-scam following regulatory intervention and police action at the company's offices.

How did Antares Trade misrepresent its operations?
Antares Trade falsely claimed operational bases in Mexico and Hong Kong through a shell company called Antares Limited incorporated in Hong Kong. In reality, the platform operated from an undisclosed actual location, maintaining deceptive jurisdictional representations to evade regulatory oversight and enforcement actions.

What triggered Antares Trade's exit-scam announcement?
CEO Alex Richter announced the exit-scam after regulators and police officers raided Antares Trade's central office at 9:30

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