In the r/CryptoScams community, user Fearless-Body722 shared details about the massive collapse of a scam scheme involving the Yepbit platform and the Bonchat messaging app. According to the user, victims made an initial deposit of $500 to $3,000, after which they had to copy trading signals from a fictitious "Professor Jonathan Brook" and paste them into Yepbit at a strictly specified time. The system promised a 1% return on the deposit, and to increase their trading limits, participants were forced to recruit new people, which is a classic sign of a pyramid scheme.

In July 2026, the organizers held a "Mid-year Gala" event, promising to double all assets and pay out a 2% return, but instead blocked the ability to withdraw funds. On July 31, Yepbit announced it was shutting down. Now, the scammers are offering the deceived participants a way to transfer 2% of their stuck assets to a new platform called AXIOM, supposedly to receive compensation. This is nothing more than an attempt to squeeze the last remaining money out of the victims.

According to user UpbeatFix7299, this scheme is identical to other Ponzi schemes widespread in Southeast Asia. User Notgoodenough-, whose parents also lost money, noted that serious conflicts have broken out in the group chats of former participants, with some people even selling their homes to invest more funds into the scheme. They point out that many early participants who made a profit essentially took money from those who joined later.

According to users Miserable_Square2887 and AfricanBadBoi, a similar scheme is currently active in Kenya under the name QVSE, also using the Bonchat app to send out signals and collecting victims personal data under the pretext of identity verification. Furthermore, user Maxulan reports that the scammers are already distributing instructions for migrating to the AXIOM platform to continue their extortion.