Cermak, a reboot of the collapsed Skainet Systems Ponzi scheme, has collapsed.
Cermak, aka CermakFX, was a trading ruse Ponzi scheme launched shortly after Skainet Systems
collapsed
last month.
Skainet Systems victims were pitched on a typical trading bot ruse, wherein they were promised 50% of generated profits.
Cermak pitched Skainet Systems victims on as much as 30%+ a month:
Attached to Cermak’s unregistered fraudulent investment scheme was an MLM compensation plan:
Cermak was on BehindMLM review list but, before we could get to it, on July 21st the company
announced its collapse
.
After three months of dedicated efforts, we regret to inform you that we have not been able to attract a sufficient number of clients or secure the necessary funds to sustain our current copy trading operations.
As a result, our partner traders have made the decision to suspend their activities on our platform.
We are fully committed to keeping you informed, and we will update you as soon as we have concrete developments to share.
As it stands Skainet Systems and Cermak investor losses are unknown.
Skainet Systems
launched in mid 2024. The scam was was fronted by Michael Baur, a German national
hiding in Dubai
.
Cermak didn’t disclose ownership details, but being an immediate reboot it’s likely the same scammers were behind it.
Cermak didn’t last long enough to attract new regulatory attention. Skainet Systems fraud warnings were issued by
Germany
and
Russia
.
Update 7th September 2025 –
Michael Baur has resurfaced in connection to the recently launched
Nexxano
pyramid scheme.
🤖 Quick Answer
What is Cermak and how is it connected to Skainet Systems?Cermak, also known as CermakFX, was an unregistered fraudulent investment scheme launched as a direct reboot of the collapsed Skainet Systems Ponzi scheme. It targeted former Skainet Systems victims with promises of over 30% monthly returns through a purported copy trading platform, accompanied by a multilevel marketing compensation plan.
How did Skainet Systems operate before its collapse?
Skainet Systems functioned as a Ponzi scheme disguised behind a trading bot ruse. Investors were promised 50% of profits allegedly generated through automated trading. The scheme ultimately collapsed, leaving victims without recoverable funds and prompting the launch of successor scheme Cermak shortly thereafter.
What caused the collapse of Cermak?
Cermak collapsed on July 21
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