The deceitful enterprise known as the Federation Network Ponzi scheme has crumbled.
Instead of conceding to securities deception and disappearing, the culprits behind Federation Network have established themselves anew on a fresh domain.
This multi-level marketing (MLM) crypto Ponzi is led by individuals previously involved in the Mainet Ponzi scheme.
As part of their downfall, Federation Network orchestrated a KYC (Know Your Customer) fraudulent maneuver:
Subsequently, both domains associated with Federation Network ceased functioning on May 29th:
- federation-app.com – domain rendered inactive on May 29th by status “clienthold”
- federation-app.org – domain rendered inactive on May 30th by status “clienthold”
According to ICANN, the “clienthold”
status is extraordinary and is typically applied amidst legal disputes, lack of payment, or when the domain is nearing deletion.
Refusing to acknowledge the reality of the disabled domains, Federation Network sustained its facade of “updates” on May 30th.
That day, Federation Network emerged again using a newly registered domain “member-federation.com,” privately recorded through another registrar on May 29th.
With their secondary announcement on May 30th, Federation Network asserted that this latest domain offered enhanced security.
What Prompted the Shift?
We have transitioned to an innovative data center, designed to handle an impressive capacity of 1 million customers! To facilitate this expansion, it was necessary to overhaul our servers and implement a new website URL.
Understanding even basic website hosting principles, it’s clear that domain selection has no impact on hosting capacity. Consequently, the assertion by Federation Network that a domain transition was needed to bolster their server is baseless.
It is more likely that Federation Network’s former domains faced issues tied to their payment processes.
Along with this new domain’s registration comes the promise of a “new platform” and “0% fee on credit card transactions”. It is probable that financial service entities may have blacklisted both of Federation Network’s earlier domains.
Between May 31st and June 2nd, Federation Network allegedly plans to convene its leading Ponzi operatives in Dubai.
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The actual occurrence of such an event remains uncertain. The longevity of Federation Network’s revived domain is equally ambiguous.