Green Figures DeFi "professional traders" claims to have lost 99% in trading, but probably they scammed 1M USD in crypto

Welcome to another episode of "Beware: it's a scam!" The analysis of scam/ponzi/MLM crypto "trading companies" or tokens that are clearly a scam.

In July 2023 it pops up this "Green Figures" with a new website: greenfigures(dot)finance.

Official website

They claims to be "a decentralized finance (DeFi) platform that allows users to invest in a managed portfolio of forex trades".

The platform was built on the Binance Smart Chain (BSC) and used BUSD token as its native currency (even if it was already going to be delisted by major CEXs...).

Earning was sent on weekly basis and "trades" could be followed on MyFxBook. The "team" behind this company is mainly 2 people: "George" and "Mo".

Their \"plan\"

These guys, George and Mo, claims to be audited and doxxed by The Stamp and Anonydoxx. The rest of the team is unknown (if there is any).

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MyFxBook page of Green Figures

Between July and August 2023 they received around 1 Million USD via deposits in crypto by ~ 1000 investors.

Already the 24th of August, the trader "Mo" told the investors, via Telegram, that changes where going to be made. These changes would have lead to the complete loss of the initial investment.

Good eveningInvestors of Green Figures.

Important announcement.

I've been observing the last few weeks both with others and with us.I have seen that many cannot manage their project properly and therefore have to pull the plug or do not know what to do anymore. That will not be the case here with us and I will do everything for that. When we came up with this project, we had not taken requests into account. And that wasn't the plan to sit with this either. We finally tried this with 28 days and then reduced it to 8 days. But still notice that people only think about request instead of trading forex. This is also very suspicious for the broker because they will suspect me of money laundering. Withdrawing money too often. And to be honest, we don't want to be dealing with requests all day long. So here you can make your request from today. It's either you're in or you're out. You are part of the success or you can leave from today. So from Friday no more requests can be made. I will honestly share with you everything that works against us. And always work in our favor.

Good evening Mo.

The situation was then solved with the intervention of the other guy, "George":

Mo:

Sorry everyone, I was having a rough day yesterday and was tired last night and the capital withdrawal requests got to me. I am chatting with George and we are coming up with a plan so that people can earn well each week like usual, and can access their capital in a fair way without causing admin issues"

George:

Thanks Mo, appreciate the message. We all have ups and downs. Okay guys Mo and I are just working out some details on a good way to proceed so that we aren't nagging the broker each week for withdrawals, and that everyone keeps making good cash dollar. We will report back, thank you fro everyone and their suggestions in the channel on some good ways forward

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The following week there was a huge gain, more than 30% in just one week:

Total so far: 33.828%(27.062% after fees => $ 349,915)Weekly (fri-thu) progress: 33.828%(27.062% after fees => $ 349,915)

Bot 1: +29.14% | $ 60,955 | $ 270,147Bot 2: +31.53% | $ 64,734 | $ 270,048Bot 3: +30.59% | $ 62,773 | $ 267,986Bot 4: +31.79% | $ 65,744 | $ 272,523Bot 5: +32.14% | $ 66,044 | $ 271,539Bot 6: +32.53% | $ 67,132 | $ 273,488Bot 7: +91.50% | $ 50,013 | $ 104,674

Strange right? A perfect way to attract more people... or convince the invetors to avoid withdrawal.

Now, what happened between today and yesterday?

MyFxBook shows a huge loss early in september... how convenient.

Mo's message sent on Telegram on the 14th of September, 2023:

To make a long story short.

All is lost in trading.

I didn't dare tell you this because it concerns a large group and this is my first project.

I've tried everything to save this project.

I think it's a real shame because we really could have reached the top. But since all the requests came, I no longer used the right system and let the bots do their work and I started trading out of necessity to make more profit.

Unfortunately this went completely wrong.

George was leaving the team because he didnt like me doing the manual trades and i couldn't stop it.

Things went from equally good profits and from bad to worse...

What now?!

As a saving grace for this community. I want to connect the bot for everyone for free.

I recently discovered that this system simply works better and should have just used it from the start so that everyone had control over their own funds.

Instead of taking the 20% profit, it will be sent to a wallet every week.

That wallet is used to pay out all requests

Until there is enough to pay everyone their money invested in green figures. We will work with them all towards something that really works.

The bots make up to 5% per week easily and simply stable with low risk.

For people who are looking for a system that really works 100%.

Send me a message and we can get started

How nice that he is offering a bot for free... after losing almost 1 million USD in a week, lol

It seems also that the "Mo" guy is just a 17 YO. Also, on Telegram some guy said that something similar happened to another Goerge's project, called "Automated capital". But this is not confirmed!

Anyway: there was $158k in equity between all 7 Green Figures bots 15 hours before the messagessent by the "team", now there's $80.5k.

"Mo" withdrew $59k from Green Figures 7 bot overnight between 13 september and 14 september, and the account is now drained.

It has been asked in the Green Figures chat if the $59k of investor's capital would be immediately refunded and he closed the chat a few minutes later.

Proof screenshot 1

Proof screenshot 2

In my opinion, this has been an elaborate scam all along. 1 Millions profits to be split between the two guys, is not bad, right? Damn. I hate scammers.

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Please take this advice: stay away from such companies! Always be sure on what/with whom you invest!

The information in this post is taken directly from the company's website and from my personal research.

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Disclaimer: This is not a financial advice. This post is just a discussion on a topic. Always DYOR.

While commenting, please respect other's opinion (and mine)!

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^{Note: I am not a native English speaker, if you find any mistake please point them out in the comments so I can correct them!}