Audit log

Every state-changing event for Riscoin: moderation decisions on community submissions, plus corrections and updates from the news pipeline. URL-based decisions carry three independent witnesses — the original source, an Internet Archive snapshot taken at submission time, and a Solana memo signed by our publicly-disclosed publisher key.

1. #1publishby system:backfill

   2026-05-25 18:39:38Z
   Score: ? → ? (no score change)
   anchoranchored

   chain

   ●mainnet-betaslot 422,123,615

   sig

   2u2PviELpgQA…SBfdjjjAcopyexplorer ↗

   hash

   BmLtyWXvxujr…7v5w7WETcopysha256 → base58

   verifying row…full verify ↗

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   {"actor":"system:backfill","investigation_id":"018d112e-452a-45e9-b9ea-44c47d57d983","kind":"publish","page_slug":"riscoin","published_at":"2026-05-25T18:39:38.000Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Riscoin","sections":[{"content":"The Philippine Securities and Exchange Commission (SEC) Enforcement and Investor Protection Department issued a cease-and-desist order dated May 14, 2026, against Riscoin, Riscoin Exchange, Riscoin Trading, League of Seagull Ltd., and Seagull Alliance. The order required these entities to immediately stop soliciting investments from the Philippine public. The SEC found that none of the named entities held any registration or secondary license to offer, solicit, sell, or distribute investment products or securities in the Philippines, in alleged violation of Sections 8, 26, and 28 of Republic Act No. 8799 (Securities Regulation Code) and Section 11 of Republic Act No. 11765 (Financial Products and Services Consumer Protection Act). Earlier, on February 12, 2026, the Philippine SEC had issued a public advisory warning against League of Seagull Ltd. and Seagull Alliance before escalating to the cease-and-desist order. The Australian Securities and Investments Commission (ASIC) added a Riscoin-linked domain (riscoin221.com) to its Investor Alert List on November 19, 2025, flagging it as an unlicensed entity offering financial services without authorization in Australia. New Zealand's Financial Markets Authority (FMA) added RisCoin to its warnings list on November 10, 2025, identifying it as an unregistered entity and flagging multiple associated domains including riscoin.com, riscoin.icu, riscoin.me, riscoin.net, and riscoin.shop.","heading":"Regulatory Actions","severity":"critical","sources":[{"credibility":1,"name":"SEC shuts 'Riscoin' over alleged crypto scam — Philippine Daily Inquirer","type":"news_article","url":"https://business.inquirer.net/591797/sec-shuts-riscoin-over-alleged-crypto-scam"},{"credibility":2,"name":"SEC Flags Riscoin Operator as Unregistered Investment Scheme — BitPinas","type":"regulatory","url":"https://bitpinas.com/regulation/sec-flags-riscoin/"},{"credibility":2,"name":"SEC Warns Against League of Seagull Ltd. Linked to Riscoin Scheme — CoinNewsByte","type":"news_article","url":"https://coinnewsbyte.com/regulation/sec-warns-against-league-of-seagull-ltd-linked-to-riscoin-scheme/"},{"credibility":1,"name":"Philippine SEC Facebook — Cease-and-Desist Order Announcement","type":"official","url":"https://www.facebook.com/PhilippineSEC/posts/-the-securities-and-exchange-commission-sec-has-issued-a-cease-and-desist-order-/1265555272282617/"},{"credibility":2,"name":"League of Seagull Review: Riscoin signals 'click a button' Ponzi — BehindMLM","type":"research","url":"https://behindmlm.com/companies/click-a-button-app-ponzis/league-of-seagull-review-riscoin-signals-click-a-button-ponzi/"}]},{"content":"Riscoin allegedly operated as a cryptocurrency copy-trading platform in which investors paid a minimum of $500 (approximately 30,000 Philippine pesos) and were assigned so-called 'crypto managers' who purported to generate guaranteed high daily returns through automated trading signals. Investors were required to click buttons within the Riscoin application to execute alleged trades; analysts at BehindMLM characterized this activity as window dressing with no legitimate trading function. The compensation model included multi-level referral commissions: 10% on Level 1 recruits, 13% on Level 2, and 18% on Level 3, a structure consistent with pyramid or Ponzi schemes. The Philippine SEC found that payouts to earlier participants were sourced primarily from new investor contributions rather than from genuine trading profits. Recruitment was conducted through Telegram, Bonchat, Facebook, and physical offices in Pangasinan (operating out of a Seagull Alliance Clothing storefront in Pozorrubio), Metro Manila, Central Luzon, Central Visayas, Northern Mindanao, and Davao Region. Philippine operations allegedly began on September 19, 2024, with a local recruitment group known as Team Bagwis Payaman active in Pangasinan.","heading":"Scheme Structure and Operations","severity":"critical","sources":[{"credibility":2,"name":"SEC Flags Riscoin Operator as Unregistered Investment Scheme — BitPinas","type":"regulatory","url":"https://bitpinas.com/regulation/sec-flags-riscoin/"},{"credibility":2,"name":"SEC Warns Against League of Seagull Ltd. Linked to Riscoin Scheme — CoinNewsByte","type":"news_article","url":"https://coinnewsbyte.com/regulation/sec-warns-against-league-of-seagull-ltd-linked-to-riscoin-scheme/"},{"credibility":2,"name":"League of Seagull Review: Riscoin signals 'click a button' Ponzi — BehindMLM","type":"research","url":"https://behindmlm.com/companies/click-a-button-app-ponzis/league-of-seagull-review-riscoin-signals-click-a-button-ponzi/"},{"credibility":1,"name":"SEC shuts 'Riscoin' over alleged crypto scam — Philippine Daily Inquirer","type":"news_article","url":"https://business.inquirer.net/591797/sec-shuts-riscoin-over-alleged-crypto-scam"}]},{"content":"League of Seagull Ltd. claims to be incorporated in Colorado, USA, with incorporation documents dated September 3, 2024. The registered agent on file is identified as Ernest Dewey May Jr. The scheme lists executive names including Charles Hamilton (described as Leader), Martin Collins (Technology), and David Morley (Trade Signal Watcher); however, investigators at BehindMLM could not verify that these are real individuals, noting that League of Seagull failed to provide verifiable ownership or executive information on any of its websites. The Philippine affiliate Seagull Alliance operated a physical office through a clothing store front in Pozorrubio, Pangasinan. The scheme operated across multiple rapidly-changing domains — a pattern consistent with entities that cycle through domains to evade fraud blacklists.","heading":"Corporate Structure and Identity","severity":"high","sources":[{"credibility":2,"name":"SEC Warns Against League of Seagull Ltd. Linked to Riscoin Scheme — CoinNewsByte","type":"news_article","url":"https://coinnewsbyte.com/regulation/sec-warns-against-league-of-seagull-ltd-linked-to-riscoin-scheme/"},{"credibility":2,"name":"League of Seagull Review: Riscoin signals 'click a button' Ponzi — BehindMLM","type":"research","url":"https://behindmlm.com/companies/click-a-button-app-ponzis/league-of-seagull-review-riscoin-signals-click-a-button-ponzi/"}]},{"content":"According to BehindMLM, by May 2026 League of Seagull had set withdrawal fees within the Riscoin platform to 99.8%, effectively preventing investors from recovering any funds. This behavior is a common exit-scam indicator in Ponzi scheme collapses, where operators raise fees or impose technical barriers to withdrawals rather than explicitly refusing to return funds. Community reports and YouTube videos surfaced in mid-2026 documenting investor difficulties with withdrawals and alleged account freezes following withdrawal attempts. The Philippine SEC's escalation from a February 2026 advisory to a May 2026 cease-and-desist order is consistent with an accelerating enforcement response as the scheme was allegedly winding down.","heading":"Alleged Collapse and Exit Indicators","severity":"critical","sources":[{"credibility":2,"name":"League of Seagull Review: Riscoin signals 'click a button' Ponzi — BehindMLM","type":"research","url":"https://behindmlm.com/companies/click-a-button-app-ponzis/league-of-seagull-review-riscoin-signals-click-a-button-ponzi/"},{"credibility":3,"name":"RISCOIN EXCHANGE SCAM - Watch How To Withdraw — YouTube","type":"social_media","url":"https://www.youtube.com/watch?v=_-VC2RACDPM"}]},{"content":"The Philippine SEC warned that individuals acting as brokers, agents, promoters, recruiters, influencers, or enablers for League of Seagull Ltd., Seagull Alliance, or Riscoin face criminal prosecution under Section 73 of the Securities Regulation Code (RA 8799). Penalties may include fines of up to 5 million Philippine pesos (approximately $87,000 USD), imprisonment of up to 21 years, or both. The SEC confirmed it would pursue appropriate administrative and criminal actions against all individuals involved in the operation, explicitly including promoters and social media influencers who marketed the scheme. Regional SEC offices, including the SEC-Butuan office serving the Caraga Region, issued their own supplementary public warnings urging residents to avoid the scheme.","heading":"Criminal Penalties and Enforcement","severity":"critical","sources":[{"credibility":1,"name":"SEC shuts 'Riscoin' over alleged crypto scam — Philippine Daily Inquirer","type":"news_article","url":"https://business.inquirer.net/591797/sec-shuts-riscoin-over-alleged-crypto-scam"},{"credibility":2,"name":"SEC Flags Riscoin Operator as Unregistered Investment Scheme — BitPinas","type":"regulatory","url":"https://bitpinas.com/regulation/sec-flags-riscoin/"},{"credibility":2,"name":"BitPinas Facebook — Warning to Riscoin Shillers","type":"social_media","url":"https://www.facebook.com/BitPinas/posts/-a-warning-to-riscoin-shillers-the-sec-warned-that-individuals-acting-as-brokers/1372668198206390/"}]},{"content":"Riscoin recruitment spanned multiple countries. In the Philippines, confirmed recruitment regions included Pangasinan, Metro Manila, Central Luzon, Central Visayas, Northern Mindanao, and Davao Region. The Mayor of Agusan del Norte issued a public warning to local residents against the scheme. In addition to the Philippines, regulators in New Zealand and Australia issued warnings, indicating the scheme was marketed internationally. The use of Telegram and Bonchat as primary recruitment channels suggests the operator targeted diaspora and overseas Filipino worker communities as well as domestic investors.","heading":"Geographic Spread and Impact","severity":"high","sources":[{"credibility":2,"name":"SEC Flags Riscoin Operator as Unregistered Investment Scheme — BitPinas","type":"regulatory","url":"https://bitpinas.com/regulation/sec-flags-riscoin/"},{"credibility":1,"name":"Agusan mayor warns vs fraudulent investment schemes — Inquirer.net","type":"news_article","url":"https://newsinfo.inquirer.net/2215094/agusan-mayor-warns-vs-fraudulent-investment-schemes"},{"credibility":2,"name":"Philippine SEC cracks down on unregistered 'crypto' platforms — CoinGeek","type":"news_article","url":"https://coingeek.com/philippine-sec-cracks-down-on-unregistered-crypto-platforms/"}]}],"sources_used":[{"credibility":1,"name":"SEC shuts 'Riscoin' over alleged crypto scam — Philippine Daily Inquirer","type":"news_article","url":"https://business.inquirer.net/591797/sec-shuts-riscoin-over-alleged-crypto-scam"},{"credibility":2,"name":"SEC Flags Riscoin Operator as Unregistered Investment Scheme — BitPinas","type":"regulatory","url":"https://bitpinas.com/regulation/sec-flags-riscoin/"},{"credibility":2,"name":"SEC Warns Against League of Seagull Ltd. Linked to Riscoin Scheme — CoinNewsByte","type":"news_article","url":"https://coinnewsbyte.com/regulation/sec-warns-against-league-of-seagull-ltd-linked-to-riscoin-scheme/"},{"credibility":2,"name":"League of Seagull Review: Riscoin signals 'click a button' Ponzi — BehindMLM","type":"research","url":"https://behindmlm.com/companies/click-a-button-app-ponzis/league-of-seagull-review-riscoin-signals-click-a-button-ponzi/"},{"credibility":1,"name":"Philippine SEC Facebook — Cease-and-Desist Order Announcement","type":"official","url":"https://www.facebook.com/PhilippineSEC/posts/-the-securities-and-exchange-commission-sec-has-issued-a-cease-and-desist-order-/1265555272282617/"},{"credibility":2,"name":"BitPinas Facebook — Warning to Riscoin Shillers","type":"social_media","url":"https://www.facebook.com/BitPinas/posts/-a-warning-to-riscoin-shillers-the-sec-warned-that-individuals-acting-as-brokers/1372668198206390/"},{"credibility":2,"name":"Philippine SEC cracks down on unregistered 'crypto' platforms — CoinGeek","type":"news_article","url":"https://coingeek.com/philippine-sec-cracks-down-on-unregistered-crypto-platforms/"},{"credibility":1,"name":"Agusan mayor warns vs fraudulent investment schemes — Inquirer.net","type":"news_article","url":"https://newsinfo.inquirer.net/2215094/agusan-mayor-warns-vs-fraudulent-investment-schemes"},{"credibility":2,"name":"Philippine SEC Investment Scam Watchlist — BitPinas","type":"research","url":"https://bitpinas.com/feature/philippines-sec-investment-watchlist/"},{"credibility":1,"name":"SEC warns Caraga investors vs. illegal online scheme — Philippine News Agency","type":"news_article","url":"https://www.pna.gov.ph/articles/1268974"}],"summary":"Riscoin is an alleged cryptocurrency copy-trading investment scheme operated under the umbrella of League of Seagull Ltd. and its affiliate Seagull Alliance. The Philippine Securities and Exchange Commission issued a cease-and-desist order on May 14, 2026, against Riscoin, Riscoin Exchange, Riscoin Trading, League of Seagull Ltd., and Seagull Alliance for operating without registration and soliciting investments through Telegram and Bonchat with promises of guaranteed daily returns. Regulators in New Zealand, Australia, and the Philippines have each independently flagged the scheme as fraudulent and Ponzi-like, and by May 2026 withdrawal fees were reported to have been raised to effectively prohibitive levels, a common exit-scam indicator.","timeline":[{"date":"2024-09-03","event":"League of Seagull Ltd. filed articles of incorporation in Colorado, USA, listing Ernest Dewey May Jr. as registered agent.","source":"CoinNewsByte — SEC Warns Against League of Seagull Ltd.","source_url":"https://coinnewsbyte.com/regulation/sec-warns-against-league-of-seagull-ltd-linked-to-riscoin-scheme/"},{"date":"2024-09-19","event":"League of Seagull / Riscoin expanded operations into the Philippines, establishing social media presence and physical recruitment activities.","source":"BitPinas — SEC Flags Riscoin Operator as Unregistered Investment Scheme","source_url":"https://bitpinas.com/regulation/sec-flags-riscoin/"},{"date":"2025-11-10","event":"New Zealand's Financial Markets Authority (FMA) added RisCoin to its warnings list as an unregistered entity operating multiple domains.","source":"BehindMLM — League of Seagull Review","source_url":"https://behindmlm.com/companies/click-a-button-app-ponzis/league-of-seagull-review-riscoin-signals-click-a-button-ponzi/"},{"date":"2025-11-19","event":"Australia's ASIC added Riscoin-linked domain riscoin221.com to its Investor Alert List as an unlicensed financial services entity.","source":"BehindMLM — League of Seagull Review","source_url":"https://behindmlm.com/companies/click-a-button-app-ponzis/league-of-seagull-review-riscoin-signals-click-a-button-ponzi/"},{"date":"2026-02-12","event":"Philippine SEC issued a public advisory warning the public against investing in League of Seagull Ltd. and Seagull Alliance, identifying the operation as an unregistered investment scheme.","source":"BehindMLM — League of Seagull Review","source_url":"https://behindmlm.com/companies/click-a-button-app-ponzis/league-of-seagull-review-riscoin-signals-click-a-button-ponzi/"},{"date":"2026-05-14","event":"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 copy-trading investment scheme.","source":"Philippine Daily Inquirer — SEC shuts 'Riscoin' over alleged crypto scam","source_url":"https://business.inquirer.net/591797/sec-shuts-riscoin-over-alleged-crypto-scam"},{"date":"2026-05-01","event":"Reports emerged that League of Seagull raised Riscoin withdrawal fees to approximately 99.8%, effectively blocking investor redemptions — a pattern consistent with scheme collapse.","source":"BehindMLM — League of Seagull Review","source_url":"https://behindmlm.com/companies/click-a-button-app-ponzis/league-of-seagull-review-riscoin-signals-click-a-button-ponzi/"}]},"v":1}

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