EquiLend, Herbert House, 11 SOUTH POINT, Harmony Row, Dublin, D02 H270, Ireland
Company
CEO: William Hollan
Sybbex: Additional Notes
⚠️ It appears that customers have reported withdrawal issues with Sybbex, indicating potential liquidity or operational problems; Sybbex has a history of exit scam, where it suddenly shuts down and disappears with investors' funds.
Sybbex was a cryptocurrency investment platform that promised high daily returns, attracting thousands of investors globally. Marketed as a legitimate opportunity, it offered returns of up to 3.4% per day through investments in USDT, BTC, ETH, and LTC.
However, Sybbex has been widely exposed as a Ponzi scheme, collapsing in April 2025 with its website and social media accounts vanishing.
The Central Bank of Ireland issued a warning about Sybbex Limited, identifying it as an unauthorized firm operating without regulatory approval.
Key Takeaways
Sybbex was a Ponzi scheme promising unrealistic returns, primarily targeting investors in France, Brazil, and India.
Collapsed in April 2025, with the website and social media accounts shut down.
No legal actions reported yet, but investors may face significant losses.
Led by a fake CEO, “William Hollan,” likely an actor, with ties to Russian operators.
Central Bank of Ireland warning flagged Sybbex Limited as an unauthorized firm, highlighting regulatory risks.
How Did Sybbex Work?
Sybbex operated as a multi-level marketing (MLM) platform, combining cryptocurrency investments with a referral-based commission structure. Here’s a breakdown of its operations:
Investment Plans
Sybbex lured investors with high-yield plans, offering daily returns based on investment size and duration. Below is a detailed table of its plans:
Investment Type
Range
Daily Return
Duration (Days)
Tether (USDT)
$50–$1,000
0.7%–1.2%
15
Tether (USDT)
$1,000–$20,000
1.1%–1.5%
25
Tether (USDT)
$20,000–$100,000
1.4%–1.8%
36
Tether (USDT)
$100,000–$500,000
1.7%–2.2%
48
Tether (USDT)
$500,000–$3,000,000
2.1%–2.6%
60
Tether (USDT)
$100–$10,000
2.4%
180
Tether (USDT)
$10,000–$100,000
2.8%
240
Tether (USDT)
$100,000–$1,000,000
3.4%
365
BTC Smart
0.005–1 BTC
2%
60
ETH Smart
0.05–10 ETH
2%
60
LTC Smart
1–1,000 LTC
2%
60
BTC Pro
1–100 BTC
2.6%
100
ETH Pro
10–1,000 ETH
2.6%
100
LTC Pro
1,000–20,000 LTC
2.6%
100
MLM Structure
Sybbex incentivized recruitment, offering commissions up to 36% based on downline investments. Affiliates progressed through ranks by recruiting investors with deposits ranging from $5,000 to $1 billion USDT. This structure relied heavily on new funds to sustain payouts, a hallmark of Ponzi schemes.
Lack of Transparency
No verifiable revenue sources or audited financial reports supported Sybbex’s claims. The platform’s “Sybbex coin” existed only on its website, and its operations lacked regulatory oversight, raising red flags for fraud.
Who Ran Sybbex?
Sybbex claimed to be led by CEO “William Hollan,” but investigations revealed this was likely a fictional persona played by an actor. Key points about its leadership:
Fake CEO: Hollan appeared in promotional videos with an Eastern European accent, wearing a wig and glasses, filmed in a rented Moscow office.
Russian Connections: Sources link Sybbex to Russian operators, part of a trend of “Boris CEO” Ponzi schemes falsely claiming to be based in Ireland.
No Real Team: No credible team members or corporate registrations were disclosed, further evidencing its fraudulent nature.
The Collapse of Sybbex in April 2025
Sybbex’s collapse was swift and predictable for those familiar with Ponzi schemes. Here’s what happened:
Timeline of Events
Early 2025: Sybbex gained traction, with 31,800 monthly website visits, primarily from France (54%), Brazil (34%), and India (7%).
April 4, 2025: The official Facebook page was abandoned.
April 6–7, 2025: The website (sybbex.com) and most social media accounts were deactivated within 24 hours.
Post-Collapse: No official statements were issued, leaving investors without recourse.
Impact on Investors
Financial Losses: Total losses are unknown, but the scale suggests significant damage, especially for high-tier investors.
No Refunds: Withdrawal delays were reported before the collapse, a common tactic to stall payouts.
Global Reach: The platform’s traffic indicates widespread impact, particularly in France, Brazil, and India.
Why Was Sybbex a Ponzi Scheme?
Several factors confirm Sybbex’s status as a Ponzi scheme:
Unsustainable Returns: Daily returns up to 3.4% are mathematically impossible without external revenue.
Reliance on Recruitment: The MLM structure depended on new investors to pay earlier ones.
Fake Leadership: The use of a fictional CEO and lack of verifiable team members eroded trust.
No Regulation: Sybbex operated without licenses or audits, violating financial regulations.
Sudden Exit: The abrupt shutdown without warning is typical of Ponzi “exit scams.”
User Reviews and Public Reactions
Public sentiment on Sybbex shifted from cautious optimism to widespread condemnation. Here’s a summary:
Trustpilot Reviews
Negative Feedback: Users reported withdrawal issues, fake social media engagement, and low traffic (3,000 visitors) despite claims of $100 million in assets.
Scam Warnings: Reviews from January 2025 labeled Sybbex a fraud, citing copied website designs from prior scams.
Reddit Discussions
Initial Debate: In September 2024, some Reddit users believed Sybbex’s plans were “realistic,” citing physical offices.
Later Consensus: By early 2025, most agreed it was a scam, with users noting doctored office photos and unsustainable returns.
X Posts
Collapse Confirmation: Posts in April 2025 highlighted the website’s shutdown, with users warning others to avoid similar schemes.
Suspicious Offers: Some accounts offered “withdrawal automation” services, likely further scams targeting victims.
Legal Implications and Investor Options
As of April 14, 2025, no legal actions against Sybbex have been publicly reported. However, investors may consider the following:
Potential Legal Recourse
Civil Lawsuits: Victims can pursue fraud claims.
Criminal Complaints: Reporting to authorities may trigger investigations, especially in affected countries like France or Brazil.
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