Riscoin
Auto-generated score, not yet verified against the scoring model. Under review — treat as indicative, not a verdict.
anchored·2u2Pvi…jjjASummary
Riscoin is an alleged cryptocurrency copy-trading investment scheme operated under the corporate umbrella of League of Seagull Ltd. and its associated brand Seagull Alliance. On May 14, 2026, the Philippine Securities and Exchange Commission issued a cease-and-desist order against Riscoin, Riscoin Exchange, Riscoin Trading, League of Seagull Ltd., and Seagull Alliance for soliciting unregistered securities and operating a fraudulent, Ponzi-like scheme. Multiple regulators in New Zealand, Australia, and the Philippines have independently warned the public against the platform, and the scheme is alleged to have collapsed in May 2026 when withdrawal fees were raised to 99.8 percent, effectively blocking all investor redemptions.
Connected Entities
1 entityNo connected entities recorded yet — this investigation is not currently linked to any other page in the index.
Timeline(8 events)
3 September 2024
League of Seagull Ltd. filed articles of incorporation with the Colorado Secretary of State (Entity ID 20241936415); Ernest Dewey May Jr. listed as registered agent.
BitPinas / CoinNewsByte19 September 2024
Riscoin / League of Seagull began expanding operations in the Philippines across Pangasinan, Metro Manila, Central Luzon, Central Visayas, Northern Mindanao, and Davao Region.
BitPinas25 April 2025
New Zealand Financial Markets Authority (FMA) added riscoin.com to its official warning blacklist, citing unregistered entity, market manipulation, and fraud.
BehindMLM / TradersUnion10 November 2025
New Zealand FMA issued a formal public warning against League of Seagull / Riscoin.
BehindMLM19 November 2025
Australian Securities and Investments Commission (ASIC) added riscoin221.com to its Investor Alert List, warning the business was operating unlicensed in Australia.
BehindMLM12 February 2026
Philippine SEC issued initial public advisories warning investors against League of Seagull Ltd. and Riscoin.
BehindMLM13 May 2026
Riscoin platform allegedly set withdrawal fees to 99.8 percent, effectively blocking all investor redemptions — a collapse indicator consistent with Ponzi exit mechanics.
BehindMLM14 May 2026
Philippine SEC Enforcement and Investor Protection Department issued a cease-and-desist order against Riscoin, Riscoin Exchange, Riscoin Trading, League of Seagull Ltd., and Seagull Alliance for operating an unregistered Ponzi-like investment scheme.
Inquirer Business / BitPinasDecision Log
- slot 422123615 · hash BmLtyWXvxujroYj136DAHQTjv7hdGNP3Whf57v5w7WET
This investigation is cryptographically anchored to the Solana blockchain (1 decision). 6 of 8 cited source URLs have an Internet Archive snapshot.
model: claude-code-investigator
generated: 5/25/2026, 6:39:28 PM
last updated: 5/25/2026, 7:45:29 PM
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