With extra studies by Nathaniel Cajuday
A number of social media posts have been selling the upcoming launch and airdrop of the Tantin Change (TTX) within the Philippines, however its founder, Yu Lingxiong, has stirred controversy because of reported involvement in multi-level advertising (MLM) and pyramid schemes. The platform was additionally marketed in Cambodia and was flagged as unregistered.
Tantin Change in PH
Based on social media posts, Tantin Change is ready to launch within the Philippines on Could 8, 2025, at 9 p.m., accompanied by an ongoing airdrop providing 100 $CTC with “no strings connected.”
$CTC is the native token of TTX and is distributed as an airdrop reward to those that will register on its platform.
Primarily based on promotional supplies, the trade is being marketed because the undertaking that can “break the chains of poverty” within the Philippines.
The posts additionally claimed that contributors might earn “referral bonuses of three $CTC as much as 30 ranges” and promoted the platform with the phrase “make thousands and thousands with zero funding.” They’ve additionally been encouraging people to hitch Zoom conferences as a strategy to additional draw them into the platform.
Some posts additionally declare that $CTC will probably be listed at roughly $1 in fiat. They additional promote TTX as a “large trade,” emphasizing that it has no presales, no public gross sales, no deposits, and no investments, and touting it as “no danger” and “no rip-off.”
As of this writing, Tantin’s $CTC just isn’t but listed on cryptocurrency aggregators CoinGecko and CoinMarketCap. The one $CTC that exists is the native token of Creditcoin, a blockchain-based interoperable lending protocol, as outlined by OKX Learn.
As In comparison with SEC-Charged Forsage
In 2022, the U.S. Securities and Change Fee (SEC) filed expenses towards 11 people concerned in Forsage, a fraudulent crypto pyramid and Ponzi scheme that raised greater than $300 million from thousands and thousands of retail traders worldwide.
Initially, Forsage claimed to be the world’s first 100% decentralized crowdfunding platform.
Forsage and Tantin Change share operational similarities, each counting on referral-based incentives and recruitment-driven progress. Whereas Forsage has been uncovered as a fraudulent scheme, TTX’s unclear construction and advertising ways increase issues.
It must be famous that Forsage offered itself as a decentralized finance platform utilizing sensible contracts, whereas TTX markets itself as a crypto trade and token undertaking.
The SEC operated a matrix system the place new traders’ funds have been used to pay earlier contributors, promising earnings by way of “spillovers,” whereas TTX promoted $CTC and provided recruitment bonuses however lacked transparency on its income mannequin.
By way of promotion, Forsage leveraged social media to unfold its message, claiming risk-free and “countless” earnings by way of sensible contracts. TTX additionally used advertising, together with promotional movies and digital conferences, to additional encourage potential merchants.
Forsage lacked an actual product or enterprise mannequin; accordingly, TTX raises comparable issues with its concentrate on recruitment, unclear income mannequin, and guarantees of excessive returns.
The Philippine SEC issued a stop and desist order towards Forsage in 2020 for illegally soliciting unregistered crypto investments by way of a crowdfunding scheme.
In 2022, the U.S. SEC cited the Philippine SEC’s early motion in its case towards Forsage, which had defrauded traders of over $300 million globally by way of a crypto-based pyramid and Ponzi scheme. Accordingly, the native fee praised the U.S. SEC for charging Forsage’s leaders.
Yu Lingxiong and TTX Challenge in Cambodia
Lingxiong, a China-born Cambodian nationwide, was famous to be below scrutiny for his alleged involvement in a number of pyramid schemes in China.
He reportedly based a Chinese language enterprise affiliation in Cambodia that sponsors the China-Cambodia Volunteer Crew, now entangled in controversy after certainly one of its members, Chen Baorong, was detained for allegedly serving to fabricate the extensively publicized however now-discredited “blood slave” story involving Chinese language nationwide Li Yayuanlun.
Furthermore, an X put up by the account CyberScamMonitor, a tracker of on-line rip-off and playing operations in Southeast Asia, highlighted Lingxiong’s resurfacing in Cambodia final month, the place he’s now selling a brand new undertaking, Tantin Change, and its related token, $CTC. Promotional movies exhibiting TTX working from Morgan Tower prompted a notice from Morgan stating the trade is unlicensed, its lease has been terminated, and energy to the premises has been reduce.
In 2023, CyberScamMonitor identified that he registered 5 firms below the Tantin model and just lately launched the platform, which is now being closely promoted on social media in Cambodia.
Additional, Yu, who grew to become a Cambodian nationwide in 2017 below the title Pov Chumnit, reportedly had previous ties to scam-linked places just like the White Sand On line casino and beforehand pushed a fraudulent undertaking, Entapay, falsely claiming authorities backing.
This text is printed on BitPinas: Tantin Exchange’s PH Launch Promising “Millions” and “Zero Risk” Raises Red Flags Over MLM-Style Tactics
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