Vladimir “Lado” Okhotnikov, a wanted fugitive, has seen his latest Ponzi scheme, Holiverse, collapse. In a bid to keep the scam alive, Okhotnikov, alongside Ukrainian model and Tbilisi State Medical University student Sofi Zotova, announced a reboot under the name Meta Whale approximately two weeks ago. Investors hoping to recover funds lost in Okhotnikov’s earlier schemes, dating back to Forsage, are likely to be disappointed as Meta Whale appears to be a continuation of the same fraudulent tactics.
Holiverse’s Collapse and Meta Whale’s Launch
Holiverse, which operated on the old Meta Force domain, has ceased to exist. Its official Twitter account is suspended, and all references to Holiverse have been scrubbed from Meta Force’s former social media channels. The Meta Force website now redirects to “meta-whale.com,” a domain privately registered on February 9, 2025. Meta Whale’s site teases “something big is coming” but provides no transparency on the fate of investor funds from Holiverse or Meta Force, which are presumed misappropriated by Okhotnikov.
Despite SimilarWeb reporting only ~18,100 monthly visits to Meta Whale’s website in April 2025, the platform claims an inflated 2.09 million investors. Like its predecessors, Meta Whale introduces a new Ponzi token, WhaleBit (CES), signaling another cycle of promised riches with little substance.
Okhotnikov’s Long History of Fraud
Meta Whale marks Okhotnikov’s eighth Ponzi reboot. Holiverse was a rebrand of Meta Force, which itself was a reboot of Forsage, a gifting Ponzi that collapsed five times. The U.S. Securities and Exchange Commission (SEC) filed civil fraud charges against Okhotnikov and ten associates in August 2022, alleging Forsage was a $300 million Ponzi scheme. In February 2023, a federal grand jury in Oregon indicted Okhotnikov and three others—Olena Oblamska, Mikhail Sergeev, and Sergey Maslakov—for conspiracy to commit wire fraud, with potential penalties of up to 20 years in prison.
Okhotnikov, a Russian national, remains at large, splitting his time between Georgia and Dubai, jurisdictions with limited extradition cooperation with the U.S. His ability to evade authorities while launching new scams highlights the challenges of regulating decentralized finance (DeFi) fraud.
No Accountability in Georgia
Despite U.S. charges, Georgian authorities have taken no visible action against Okhotnikov, raising questions about local enforcement. Georgia lacks an extradition treaty with the U.S., though negotiations were reportedly underway as of February 2023. Okhotnikov’s continued operations underscore the difficulties in pursuing cross-border financial crimes.
Meta Whale: Same Scam, New Name
Meta Whale follows Okhotnikov’s familiar playbook:
- Referral-driven growth: Encouraging recruitment over genuine utility.
- Token locking: Restricting withdrawals to create false stability.
- Centralized control: Retaining admin privileges despite “decentralized” claims.
- Rebranding: Relaunching with new jargon to dodge scrutiny.
Blockchain analysis links Meta Whale’s smart contracts and wallet addresses to those of Holiverse, Meta Force, and Forsage, confirming the schemes’ shared fraudulent structure. Investors, particularly from developing nations like India (61% of Holiverse’s traffic), have borne the brunt of losses, with over 80% of Forsage investors receiving less than their initial investment.
Okhotnikov’s Persona and Tactics
Okhotnikov cultivates a charismatic image, blending libertarian ideals with pseudo-spiritual references to Taoism and Eastern philosophy. His YouTube and social media presence, despite platform bans on pyramid schemes, continues to lure investors. By rebranding projects and blaming collapses on “internal sabotage” or “malicious actors,” Okhotnikov deflects accountability while extracting funds from new victims.
Recent X posts from the Holiverse account, rebranded as @Holiverse_i, promote Meta Whale and feature Okhotnikov discussing its “visionary” ecosystem, claiming only 5% of its potential has been revealed. These posts, dated April and May 2025, show his ongoing efforts to maintain investor interest despite the collapse of Holiverse.
Regulatory Challenges and Investor Warning
The SEC and Department of Justice have labeled Forsage a textbook Ponzi and pyramid scheme, with smart contracts designed to funnel funds to early investors and founders. Yet, Okhotnikov’s ability to operate from safe havens like Dubai and Georgia, coupled with the decentralized nature of his platforms, complicates enforcement. Victims are encouraged to visit the DOJ’s dedicated webpage to report losses and learn their rights.
Investors should exercise extreme caution with Meta Whale and any Okhotnikov-linked projects. Promises of high returns through recruitment or new tokens like WhaleBit are hallmarks of Ponzi schemes. Always verify the legitimacy of cryptocurrency platforms and avoid schemes requiring constant recruitment.