Success Factory, a scheme built on the foundations of the DagCoin Ponzi operation, has officially imploded. Co-CEOs Roald Mailly and Jason Tyne have both announced their departures from the company in recent weeks.
The company's official Facebook page went dark on July 15th, leaving its operational status and leadership in question. Success Factory initially functioned as a recruitment engine for DagCoin. This operation was spearheaded by former OneCoin operatives Igor Alberts and Andreea Cimbala, aiming to ensnare new victims for DagCoin.
DagCoin itself announced plans in February 2022 to enter the U.S. market. By April, the scheme had morphed into a securities fraud operation, peddling what it claimed were robotic and automated forex trading services. This pivot occurred as DagCoin began to falter around mid-2022.
The collapse of DagCoin prompted Alberts and Cimbala to abandon the venture. Just months later, DagCoin founders Nils Grossberg and Kristjan Ress were arrested in Estonia. Simultaneously, authorities in Estonia and the Netherlands conducted raids on Success Factory's Dutch offices. In November 2022, Estonian authorities also apprehended DagCoin figures Gilbert Pardla and Gustav Poola. Grossberg and Ress were released in January 2023 and have since maintained a low profile.
Success Factory continued its operations with the forex trading offering, but this venture has now also failed. BusinessForHome reported that Tyne and Mailly intend to launch a new company, MKX, with themselves as sole owners and partners. They claim MKX will offer greater transparency and freedom from external interference in business decisions. It remains unclear if the automated forex trading fraud will be part of the MKX offering.
Nils Grossberg has since launched Xera, rebranding the Success Factory operation. The BusinessForHome article detailing Tyne's departure has been removed from their website.
The failure of Success Factory’s forex scheme mirrors the broader collapse of DagCoin. The reliance on suspect cryptocurrency and automated trading schemes has consistently led to financial ruin for participants. Investors seeking to recover funds lost in such operations should consult with legal counsel specializing in financial fraud.