BigWhale has acknowledged an emergency cease and desist issued against it yesterday.

And in doing so, has also confirmed the end of their 
“we got hacked!” 
exit-scam.

In an update published after the Texas State Securities Board’s order was made public, BigWhale announced it was

terminating all operations indefinitely, with no intentions of relaunching or resuming business activities at any future point.

When BigWhale learned it was under investigation by regulators in the US and Canada is unclear.

Within two days of receiving the notice from the TSSB, dated 4th October, 2023, BigWhale.io announces the immediate cessation of all operations, effective immediately, and the discontinuation of services to customers in both the United States and Canada.

Said investigations however appear to have triggered
BigWhale’s initial collapse and 
“we got hacked!” 
exit-scam ruse
.

That was on October 2nd. On October 3rd, an in attempt to dissuade victims from filing complaints, BigWhale came up with a refunds ruse.

We will be refunding all total deposits of all investors, in an ascending order of stake size and ROI considered, starting on 9 October 2023.

In light of
TSSB’s emergency cease and desist
, BigWhale’s refunds ruse has been exposed for the sham it always was.

Regarding the Refund Program that we had published prior to these regulatory notices coming to light, due to the nature of regulatory and legal circumstances surrounding this, we will be postponing the Refund Program indefinitely.

BigWhale
was an MLM crypto Ponzi scheme run from India by Indian national Syed Sameer (right).

After BehindMLM published its BigWhale review in July, pointing out the Ponzi scheme’s legal deficiencies, we were
threatened with legal action
.

BigWhale.io cannot legally disclose (and is under no obligation to) the details, names, addresses and any personal or private information of the clients it works with – this is applicable to both its investors, as well as borrowers.

BigWhale.io is under no obligation to disclose the personal information / private details of its staff members, founders / owners.

Neither BigWhale.io – nor Quizam Media Corp – both of which are completely unrelated companies in two different jurisdictions – have anything to do with securities, and as such, they have nothing to do with the British Columbia Securities Commission as stated on your website.

We serve this letter to you in good faith and wish to resolve this matter amicably first.

As such, we request that defamatory comments and content as well as misleading statements about all three parties, especially Marianna Vilchez, be taken down completely or modified in such a way where it is no longer in violation of defamation / libel laws of Canadian, US and Swiss jurisdictions, from your website, BehindMLM.com within seven business days as of the time of serving this notice to BehindMLM.com, Google LLC, GoDaddy, Inc., failing which, all three parties as mentioned in points 9.

🤖 Quick Answer

What actions did BigWhale take following the Texas State Securities Board's cease and desist order?
BigWhale announced the immediate termination of all operations indefinitely, discontinuing services to customers in the United States and Canada. The company stated it had no intentions of relaunching or resuming business activities in the future, effectively ending its operations within two days of receiving the regulatory notice dated October 4, 2023.

What was BigWhale's initial explanation for its operational disruptions?
BigWhale initially claimed to have experienced a security breach, attributing service disruptions to a hacking incident. However, subsequent regulatory actions and the company's rapid shutdown following the cease and desist order suggested the breach narrative was part of an exit-scam strategy to justify the cessation of operations.

Which regulatory bodies were investigating BigWhale's operations?
The Texas State Securities Board and Canadian regulatory authorities were investigating BigWhale's

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