HotNews No. 153: TexitCoin – Collapse of MLM Crypto Ponzi Scheme

Dear Clients,

TexitCoin, an MLM crypto platform operating as a Ponzi scheme, has collapsed. In recent months, investors were lured by promises of high returns up to 900%, but in the lead-up to the holiday season, the value of the TXT token plummeted.

According to CoinMarketCap, TXT dropped from around $4 on December 6–12 to $1.60, and further declined to just $0.83 by December 23. Temporary market activity or new investor inflows briefly raised the price to $1.32, still representing a decline of over 60% month-to-month.

Warning signs of the collapse include the shutdown of TexitCoin’s official marketing website, while the technical site remains active on a separate domain, allowing investors to track losses. Several social media accounts have also been abandoned, with the last Telegram post on December 19 and the last Instagram post on November 22.

The founder and main beneficiary, Bobby Gray, remains active on social media, urging promoters to recruit new investors despite the losses suffered by early participants. Gray, a U.S. citizen, is believed to continue operating the remnants of TexitCoin from Thailand.

At this point, the total losses to investors remain unknown, and the further outcome will depend on whether TXC collapses completely and any potential investigations by authorities.

Kind regards,
Your DefendMe Team