On December 5, 2025, the Bank of Latvia issued a fraud warning against DAO1 and its associated products, citing unlicensed operations in violation of Latvian financial law, per the official Bank of Latvia announcement. The regulator highlighted DAO1’s promotion via webinars and social media in Latvian, promising passive income through automated trading and AI robots, which it deems high-risk and unauthorized. The warning names explicitly mention DAO1’s website and Apertum Foundation’s site, urging caution due to significant financial risks in crypto investments. This marks Latvia’s first action against the scheme, aligning with global scrutiny.
DAO1 is a fraudulent investment scheme centered on Apertum Foundation’s APTM token, operated by convicted fraudster Josip Heit and accomplices, per Reddit discussions and regulatory filings. Heit, originally from Croatia with a German passport, launched DAO1 and Apertum after GSPartners collapsed in late 2023, following over a dozen North American fraud warnings. GSPartners, built around the G999 token, defrauded investors of over $1B; Heit settled charges in September 2024, agreeing to refunds in settling jurisdictions, which remain ongoing as of December 2025. DAO1 and Apertum are seen as continuations of this fraud, with APTM reaching a new all-time low of $0.392 on November 26, 2025, amid executive cash-outs.
In addition to Latvia, DAO1 and/or Apertum have faced fraud warnings from Germany (BaFin, October 2025), New Zealand (FMA, January 2025), Australia (ASIC, February 2025), and Lithuania, per regulatory alerts and Reddit compilations. Texas issued a cease-and-desist in March 2025, linking Apertum to GSPartners fraud. DAO1’s website traffic has declined 40% month-over-month to ~22,700 visits in November 2025, with top sources being Germany (62%), the Dominican Republic (24%), and the UK (8%), per SimilarWeb data. APTM’s value tank reflects reduced new investments and internal trading.
In response to the collapse, DAO1 informed investors of a “zero tolerance policy” against “spreading negativity,” and urged astroturfing on CoinMarketCap and social media to boost ratings, per the article. This violates CoinMarketCap’s Community Rules, which prohibit manipulation, rumors, cheerleading, multiple accounts for similar posts, or promoting illegal activities. As of December 2025, DAO1 has five fraud warnings; whether CoinMarketCap acts remains unclear.
DAO1’s unlicensed operations pose severe risks, including the total loss of funds, according to the Bank of Latvia and the FMA. Investors should avoid participation and report to local regulators, such as the SEC (sec.gov) or BaFin (bafin.de). Bitcoin (BTC) at $113,234 and Ethereum (ETH) at $4,070 remain stable, per CoinMarketCap, but schemes like DAO1 erode trust in DeFi. Diversify into regulated assets like USDC with stop-losses below BTC’s $112,000, per TradingView. Follow @TheBlock__ on X for updates. Heit’s history with GSPartners suggests ongoing fraud; refunds from prior settlements may materialize by 2026, but caution is essential.
