Projects Review

Dagcoin; A pyramid scam project


A pyramid scam project called Dagcoin, under the auspices of a company called Success Factory, has recently become popular in cyberspace among Iranian users. In this article, we review this design.

How does Deg Quinn cheat?

All scam pyramid schemes promote their worthless products and offer to ignorant people to buy their products and get paid for each purchase by enrolling their friends and acquaintances in the system.

Likewise, DegQueen introduces itself as a global digital currency with hundreds of thousands of users, the price of which will soon increase sharply, and people can become rich by investing in it and enrolling their friends and acquaintances in the pyramid system.

In fact, the Deg Quinn project wants to take people’s valuable money and give them the air instead.

To get acquainted with the essence of the Deg Quinn project and other similar designs, consider this example:

Company X has a lot of ordinary soil that can be found everywhere. The company falsely claims that its soil cures cancer and will soon be used by the world’s largest pharmaceutical companies. So Company X invites people to buy anti-cancer soils for a fee and get rich in the future. Investors can also get commissions from buying friends and acquaintances they have introduced.

The basis of all pyramid schemes is the example above, but the names, products, and details of each are different.

Proof of Deg Quinn being a scammer

The Deg Quinn scam project started about two years ago in several other countries and has now reached Iranian users. To prove that Deg Quinn is a fraud, we will review the claims of its advertisers in order and move on.

Factory Sachs; The factory of success or misery?

The first claim of Deg Quinn advertisers is that a large company called Saxe Factory with 150 employees intends to offer a digital currency that will be used all over the world. First of all, let’s look at Sachs Factory itself.

The name of this company, meaning “factory of success”, speaks for itself. Fraudulent companies often enter the arena with luxurious and motivating letters in order to seduce the audience with their false promises.

On the other hand, there is no mention of Deg Quinn on the Saxe Factory website. In general, the nature of this website is not clear at all. At the top of this website, there are some financial products with unknown uses, and at the bottom of the website, there is a section for buying the company’s T-shirts. Apart from the image of some promotional T-shirts and some dumb slogans and products, no name or information about Deg Quinn is provided on this website. Sachs Factory is more like an online store than a large company that, according to advertisers, is developing a global digital currency.

Dagcoin;  A pyramid scam project
Factory Sachs; T-shirt store or maker of global digital currency?

There are no official Twitter pages of the company, and only a few informal pages are available, most of which have not been updated since mid-2019.

Connect with the OneCoin project

The Bitcoinexchangeguide website, about two years ago, about Deg Quinn being a scammer Post Has published that shows that this project is an international scam.

Post on the Bitcoinexchangeguide website about Deg Quinn being a scammer in 2018
Post on the Bitcoinexchangeguide website about Deg Quinn being a scammer in 2018

Evidence suggests that Deg Quinn is linked to the One Coin scam project, which has defrauded more than $ 4 billion. One of the project’s executors was arrested a few months ago and sentenced to 90 years in prison.

Two people, Nils Grossberg and Kriss Ress, are said to be the two founders of Deg Quinn. However, in one of the banners related to the Van Quinn project in 2016, exactly the name of Niels Grasberg appears.

One Quinn

Also, Niels Grasberg and Chris Ross themselves did not mention Deg Quinn on their LinkedIn page.

Niels Grasberg LinkedIn Page
LinkedIn Grasberg; There is no name for Deg Quinn.

On the Niels Grasberg page, the name of the SwipeX exchange can be seen; The only exchange where Deg Quinn is traded. This means that Grasberg sells its digital currency in an exchange it has created.

The name Swipox Exchange does not appear on any of the official websites such as Coinmarketcap. In fact, Suitex is a fictitious exchange to sell worthless coins at fake prices.

Claim to compete with Bitcoin!

Deg Coin, like hundreds of other scams in this area, claims that Bitcoin has problems and has come to solve its problems and raise them all over the world.

Digital currency websites and Persian-language websites in the field of digital currencies have been studying and supervising this field for a long time. Deg Coin has no place in digital currencies other than being a scam, and no code has even been released, let alone a revolutionary project competing with Bitcoin.

The project claims to have the largest ecosystem in the entire digital currency market, while a little research reveals that all the software and sites introduced as ecosystem components are just a few fake sites and simple software that take not even a few days to build.

The trick of all pyramid schemes is to show the value of a worthless product. Advertisers of Deg Quinn also claim that the price of Deg Quinn could reach several dollars in the future and give its investors a profit of several hundred or even several thousand percent. DegQueen is not sold in any exchange other than the company’s own exchange, Swip X. In fact, the creators of Deg Quinn can set the price themselves and get people’s money in return for making empty promises.

Fake Businessforhome site

Pyramid schemes always try to present themselves as the top company. The advertisers of Deg Quinn have also introduced a site for their claim at businessforhome.org, which they say covers news in the field of network marketing and introduces the largest companies. On this site, by going to the “Top Earners Ranks” section, you will see a table which, according to this site, is a list of the people who earn the most money from network marketing.

Dagcoin;  A pyramid scam project
Current table at businessforhome.org

As you can see, according to this site, people named “Igor Alberts” and “Andreea Cimbala” from Deg Quinn have the highest income in the field of network marketing.

Now see a picture from the same section that belongs to two years ago:

Website businessforhome.org
Table two years ago at businessforhome.org

The same name this time belongs to OneCoin.

The fact of the matter is that businessforhome.org is a fake site created to gain the trust of more investors, and with each scam, the name of the company listed in this site changes.

All the claims about acceptors and ATMs are nothing but a show. On the website Coinatmradar Which shows digital currency ATMs in different countries, no Deg Quinn name is seen.

A review of Saxe Factory’s registration documents also revealed that the company, which claims to have 150 employees, had a capital of only 2,500 euros. Contrary to the claims of Deg Quinn advertisers, the company’s founding date is not 2016, but mid-2018.

Dagcoin;  A pyramid scam project

By examining the address of this company, we came to this picture of it:

Dagcoin;  A pyramid scam project
An image of the address registered as the address of Sachs Factory.

Conclusion

Deg Quinn is a pyramid scheme that tries to defraud ignorant people by offering a worthless product (Deg Quinn). The project is linked to the Van Quinn project, which embezzled more than $ 4 billion internationally a few years ago. Also, all the claims of Deg Quinn advertisers about being global and increasing its value in the future are false and untrue.

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