A serial crypto fraudster is back in business. Kent Kruusmaa, the Estonian scammer who profited from OneCoin and DagCoin Ponzi schemes, has launched Monarch—another token scam dressed up as a wealth-building opportunity.

Kruusmaa's track record speaks for itself. He started his career in 2011 running a cleaning company before jumping into the Wellstar pyramid scheme in 2015. From there, he moved into cryptocurrency fraud. He rode the OneCoin Ponzi until it collapsed in early 2017, pocketing money as part of Igor Alberts' downline. He then pivoted to DagCoin, where he earned €140,000 a month through its Success Factory marketing arm. When that dried up, he joined United Token as head of marketing in 2017—and now claims to be its founder and CEO.

Today Kruusmaa controls a growing portfolio of crypto scams: EliteX Exchange, Ex Utility Token, Ucube Crowdfunding, Monarch, and U-Land Marketplace. He's not working alone. Monarch connects him to Erik Nurm and Martin Karus, the two men behind the TronCase Ponzi scheme. After TronCase collapsed, Nurm launched CoinSwap Space as his platform for launching new frauds. Karus has appeared on Monarch webinars alongside promoter Fallon Neeme. The three men are clearly operating as a unit, with Kruusmaa building his latest scam through Nurm's infrastructure.

Monarch launched last November, timed suspiciously close to when EliteX appeared. The pitch is simple but deceptive. Monarch's homepage promises "weekly income without any downside" to anyone who joins for free. The reality is uglier.

There are no real products. No services. Affiliates simply market Monarch membership itself—the definition of an MLM scheme. Members invest in United tokens (UTED) at various levels. The entry-level costs €18 for basic membership with no tokens. €50 gets you €60 worth of locked tokens (12 months). €250 buys €375 worth. The promised returns look like standard crypto scam math: invest small, watch it grow, recruit others to do the same.

The referral commission structure masquerades as something other than MLM. You earn 5 USDT per affiliate investor you recruit. Not quite the raw percentages you see in traditional pyramid schemes, but close enough. The mechanism is identical: money flows upward from new recruits rather than from any legitimate business activity.

Kruusmaa's pattern never changes. He infiltrates cryptocurrency communities, launches a token, creates an affiliate army through referral commissions, and watches money flow in until regulators or the scheme's math finally breaks down. Then he vanishes and starts again under a new company name. OneCoin, DagCoin, United Token, EliteX, and now Monarch. The names change. The fraud remains the same.

For anyone considering Monarch: you're not buying into a cryptocurrency opportunity. You're funding the lifestyle of a man with a documented history of stealing from investors. There are no weekly payouts coming. There's just the slow realization that the money you invested went somewhere else.

🤖 Quick Answer

Who is Kent Kruusmaa and what is his history in cryptocurrency?
Kent Kruusmaa is an Estonian businessman involved in multiple cryptocurrency schemes. He participated in OneCoin and DagCoin Ponzi schemes, earning substantial sums through their marketing structures before launching Monarch token. His activities span from 2011, beginning with conventional business ventures before transitioning to cryptocurrency-related operations.

What is Monarch and how does it relate to Kruusmaa's previous ventures?
Monarch is a cryptocurrency token project currently controlled by Kruusmaa, who claims founder and CEO status. The project is presented as a wealth-building opportunity, following the pattern of his previous involvement with United Token as head of marketing in 2017, where he now asserts leadership credentials.

What regulatory concerns exist regarding Kruusmaa's cryptocurrency projects?
Kruusmaa's projects, including OneC

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