User jtru007 shared a detailed account of how the fraudulent crypto scheme Yepbit collapsed. According to him, the project was led by a certain "Professor Jonathan Brook", who initially hid his face and later appeared in videos as an elderly man—most likely an actor or an AI-generated image.

The scheme worked as follows: investors were required to deposit between $500 and $3,000 into a crypto platform. There, they were given a special code to execute trades that allegedly guaranteed a 1% return on their account balance per trade. To get more trades per day and earn bonuses, they had to actively recruit new participants. Communication initially took place on Telegram, but later the scammers moved everyone to their own "Bonchat" app, where screenshots and negative comments were strictly prohibited. At the end of July 2026, withdrawals were blocked, and on August 1, the project officially shut down, citing "regulatory issues".

In the comments, users noted that the scheme had plenty of red flags from the beginning. According to user Apprehensive-Bug1191, the mere word "professor" in the crypto space is enough to know it's a scam. User Kathucka added that any promise of guaranteed profits from trades or the use of Telegram for investments is a 100% sign of a scam.

According to user SecureWriting8589, the most unpleasant part of this story is that the same scammers have now started targeting their own victims, offering "recovery services" for lost crypto in exchange for an upfront payment. User CHOLOLOLA noted that this scheme is an exact copy of another scam called BG Wealth, which lasted a couple of years and also ended with blocked withdrawals. Finally, user paladin2000 emphasized that scammers constantly change platform names; therefore, one should avoid not just specific names, but the process itself: whenever strangers on the internet promise easy money and ask you to bring in new people.