The Teqra Ponzi scheme has collapsed.

Sometime in the last twenty-four hours Teqra’s website has been disabled, resulting in a “connection refused” HTTP error.

Teqra’s website going down follows suspension of withdrawals starting approximately three days ago.

BehindMLM
reviewed Teqra
back in March. We noted the Ponzi scheme’s use of Boris CEO actors and Russian origins.

Within hours of BehindMLM’s review going live, a reader
outed Teqra CFO Jan Haagen as actor Georges Devdariani
.

Whereas Boris CEO Ponzi schemes typically do everything they can to represent they aren’t run out of Russia, Teqra took on a different approach.

Likely hamstrung by COVID-19 travel restrictions, the scammers behind Teqra have been organizing staged “office opening” events around Russia.

The videos appear to have been
shot on a pretty tight budget
.

Based on current Alexa traffic estimates, Teqra’s victims are primarily from the US, Russia and Saudi Arabia.

Teqra solicited investment in bitcoin and ethereum.

The Ponzi scheme’s collapse follows a weekly decline of 21% and 38% for the two respective cryptocurrencies.

Owing to Teqra investors sending cryptocurrency to scammers in Russia, recovery of funds is virtually impossible.

🤖 Quick Answer

What was the Teqra scheme and why did it collapse?
Teqra was a Ponzi scheme that collapsed when its website became inaccessible following a suspension of withdrawals. The scheme utilized actors portraying Boris CEO personas and was connected to Russian operations, employing staged office opening events to create legitimacy before ultimately failing.

Who was exposed as Teqra's CFO?
Jan Haagen, identified as Teqra's Chief Financial Officer, was exposed as actor Georges Devdariani shortly after BehindMLM published its review of the fraudulent scheme in March.

How did Teqra differ from typical Boris CEO Ponzi schemes?
Unlike most Boris CEO schemes that deny Russian operations, Teqra openly organized staged office opening events throughout Russia, likely adapting its strategy due to COVID-19 travel restrictions limiting the scammers' international mobility.

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