Skainet Systems Ponzi Collapses
Skainet Systems, a shady crypto Ponzi scheme masked as an MLM and led by serial fraudster Michael Baur, has finally imploded. Instead of admitting they’ve run out of new investor cash to cover withdrawals, Skainet is pushing a fake “Cermak reboot” to keep the scam alive.
Signs of Trouble
Problems started in December 2024 with delayed withdrawals, and by February 2025, restrictions tightened. Recently, Skainet fabricated “bad trading results” and a “30% loss” to explain away their collapse.
Cermak: A Bogus Reboot
Now, Skainet Systems’ ponzi collapse is hyping Cermak—a dodgy trading broker they created in January 2024—as a fresh start. Authorities in Germany and Russia flagged both Skainet and Cermak for fraud earlier this year, but Skainet claims Cermak will take over their investor network and offer a “refund pool” for those who lost money.
The Refund Ruse
They promise weekly payments from “new business profits” until investors break even, with no extra investment needed. Sounds great? It’s a trap. This is just fake money in their system, likely dragging on for 20 weeks while Baur and his Dubai-based crew cover their tracks or pitch a new scam demanding more cash.
Baur’s Next Move
Baur, now Cermak’s CMO, is hosting a webinar this Wednesday to sell this nonsense again. Investors should assume their money’s gone, stolen by Baur and his team.
Stay Alert: We’ll keep you updated if anything major develops. For now, Skainet victims should brace for losses and steer clear of this obvious con.