Riscoin
Summary
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 entitiesTimeline(8 events)
2024-09-03
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 / CoinNewsByte2024-09-19
Riscoin / League of Seagull began expanding operations in the Philippines across Pangasinan, Metro Manila, Central Luzon, Central Visayas, Northern Mindanao, and Davao Region.
BitPinas2025-04-25
New Zealand Financial Markets Authority (FMA) added riscoin.com to its official warning blacklist, citing unregistered entity, market manipulation, and fraud.
BehindMLM / TradersUnion2025-11-10
New Zealand FMA issued a formal public warning against League of Seagull / Riscoin.
BehindMLM2025-11-19
Australian Securities and Investments Commission (ASIC) added riscoin221.com to its Investor Alert List, warning the business was operating unlicensed in Australia.
BehindMLM2026-02-12
Philippine SEC issued initial public advisories warning investors against League of Seagull Ltd. and Riscoin.
BehindMLM2026-05-13
Riscoin platform allegedly set withdrawal fees to 99.8 percent, effectively blocking all investor redemptions — a collapse indicator consistent with Ponzi exit mechanics.
BehindMLM2026-05-14
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
- hash: BmLtyWXvxujroYj136DAHQTjv7hdGNP3Whf57v5w7WET
This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-code-investigator
generated: 5/25/2026, 6:39:28 PM
last updated: 5/25/2026, 7:45:28 PM
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