Contradictions of a scammer – Part 1 – Ponzi

As of this writing, Matt is paid to post on forum by On 21-01-15 confirmed knowledge of his scam.

I’ll try to link to the original posts whenever possible, so you can see how often the posts are edited or deleted as he contradicts himself. The original thread is archived here.

As you read this, keep in mind he works in this industry and will later admit he knew what he did was illegal.

2012-04-07Matt announces a ponzi, specifically for help those who cannot get an invitation to the Pirate ponziOriginal
2012-04-11Matt announces the reserve fund, working with Pirate in advance.Original
2012-04-12Matt hints at his plan to pay out a 1% reserve fund instead of deposits.Original
2012-04-17Matt’s confirms his partnership with Pirate allows higher rates.Original
2012-04-24First person asks about the scam. He is ignored.Original
2012-05-05Ponzi reaches 2,000 bitcoin and gets a “shiny new logo courtesy of Timbo925”Original
2012-06Posts many spreadsheets showing deposits, balances and ponzi payments.Most spreadsheets have been removed from the forum and exist only on archives.
Makes agreement with pirate to raise interest to 390% per year for deposits over 2,000 btc.Original
July 2012Matt lowers his ponzi rate to 251% APROriginal
July 2012Matt states 1% reserve fund is 65 bitcoin.Original
2012-08-18Pirate’s ponzi ends and per his agreement he returns Matt’s entire deposit for their future use. Matt pays out only the 1% reserve fund.Original
April 2013Matt denies running a ponzi.  (There was nothing dishonest about what I did and I’m surprised you would insinuate as much)Original
Feb 2014Matt admits he knew he ran a ponzi. He later reinforces this by saying he is in finance.Original DELETED
April 2014Matt brags he knew the ponzi was illegal.  (Common sense has to play a role as well.  Is there anyone who thought Pirate was doing honest dealings?  I certainly hope not. )Original
2019-12-22Matt hints the SEC investigated and cleared him. They did not.Original
2020-04-07Matt claims he had no special relationship with pirate (see 2012-04) and continues his deflection.Original
Oct 2020Matt denies running a ponzi.Original
December 2020Matt denies paying out the 1% reserve fund.  (I’ve never lost anyone’s money. Not a single satoshi. )Original

This Post Has 3 Comments

  1. Archimedes Serval

    Where is the stuff about NastyFans, the “ponzi” he still runs today? I hope that is coming soon (TM). ;D

    1. Angel

      Has Matt ever admitted nastyfans is a ponzi like he did with his pass-through? If I was a lion I wouldn’t be interested in investigating other potential meals when this one is sufficient and already dead. If you want to put together a summation, free of opinion and conclusion, I can look at posting it.

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