A company claiming to be a fintech pioneer just bought a Ponzi scheme that collapsed under regulatory scrutiny. Now it's gone under too.

My Neo Group announced the acquisition of Zeniq Technologies on December 2nd, 2023, creating what it called Neo Zentech. The move put the Monaco-based firm in control of a fraudulent investment operation that had already drawn warnings from regulators in Russia and Dubai.

Zeniq Technologies launched a classic Ponzi scheme in 2021 with Safir International, built entirely around a worthless token called Zeniq Coin. Before late 2022, the token couldn't be traded publicly. Investors could only cash out through Zeniq Technologies and Safir themselves—the textbook setup for a Ponzi. When Zeniq Coin finally hit public markets, it pumped to 6.9 cents before collapsing to 2.5 cents as investors fled.

The timing of Neo Group's acquisition was reckless or deliberate. The Central Bank of Russia had issued a Safir pyramid scheme warning just over a month earlier. Dubai's regulators had flagged Zeniq Technologies for securities fraud back in late 2021.

Neo Group's CEO, Mickael Mosse, built his reputation on claiming to be a "blockchain and crypto expert." His actual track record tells a different story. Beyond founding Neo Group, he has little to show. His personal website redirects to a Korean gambling site. His Facebook profile has sat dormant since 2020. His Twitter is private. Before Neo Group, Mosse was involved with Cubaaz, a crypto ICO scam that launched around 2018.

Mosse also operates Banca Neo, supposedly offering personal and business banking services. The operation runs through Satchel, a Lithuanian company, and generated roughly 13,500 website visits in October 2023—barely a functioning business.

Neo Zentech collapsed in January 2024, less than two months after the acquisition announcement. The scheme didn't disappear. It simply rebranded itself as Xera and kept running.

The pattern is unmistakable. A founder with a history of failed crypto schemes acquired a known Ponzi operation and relaunched it under a new name when regulators closed in. This isn't a failure of one bad actor. It's evidence of how easily Ponzi schemes operate, reinvent themselves, and continue defrauding investors while regulators struggle to keep pace.

🤖 Quick Answer

What was Neo Zentech and how was it formed?
Neo Zentech was created on December 2nd, 2023, when Monaco-based Neo Group acquired Zeniq Technologies, a collapsed cryptocurrency operation. The acquisition combined Neo Group's fintech operations with Zeniq's fraudulent investment infrastructure, integrating a Ponzi scheme that had previously drawn regulatory warnings from authorities in Russia and Dubai.

What was the Zeniq Technologies scheme?
Zeniq Technologies operated a Ponzi scheme launched in 2021 with Safir International, centered on Zeniq Coin, a worthless cryptocurrency token. Before late 2022, the token lacked public trading access, forcing investors to liquidate positions exclusively through the company itself—a characteristic Ponzi structure designed to control cash flows and enable operator profiteering through unsustainable returns.

**What happened to Zeniq Coin's market value?

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