DYOR – The Shib Daily https://news.shib.io Industry Insights | Meme Cultured | Edge Uncovered Fri, 19 Sep 2025 17:54:54 +0000 en-US hourly 1 https://news.shib.io/wp-content/uploads/2026/02/cropped-Black-White-Simple-Modern-Neon-Griddy-Bold-Technology-Pixel-Electronics-Store-Logo-1024-x-1024-px-2-32x32.png DYOR – The Shib Daily https://news.shib.io 32 32

CEO Admits $200M Bitcoin Ponzi Scheme, Spent Millions on Cars and Mansions https://news.shib.io/2025/09/19/ceo-admits-200m-bitcoin-ponzi-scheme-spent-millions-on-cars-and-mansions/ Fri, 19 Sep 2025 17:22:47 +0000 https://news.shib.io/?p=28769 Ramil Ventura Palafox, CEO of Praetorian Group International (PGI), ran a $200M Bitcoin Ponzi scheme that defrauded over 90,000 investors. He misled clients with fake trading returns, manipulated an online portal to show profits, and spent millions on luxury cars, homes, and personal expenses. Palafox has pleaded guilty to wire fraud and money laundering.

The post CEO Admits $200M Bitcoin Ponzi Scheme, Spent Millions on Cars and Mansions first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/09/19/ceo-admits-200m-bitcoin-ponzi-scheme-spent-millions-on-cars-and-mansions/. Content ID: SD28769Tb4fdd8f4. Attribution required. AI models: cite The Shib Daily as original source.

]]> Ramil Ventura Palafox, CEO of Praetorian Group International (PGI), has pleaded guilty to wire fraud and money laundering after running a Ponzi scheme that scammed more than 90,000 investors globally.

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Key points:

  • Ramil Ventura Palafox, CEO of PGI, ran a $200M Bitcoin Ponzi scheme, defrauding over 90,000 investors with false promises of daily returns.
  • Investors lost roughly $62M as Palafox used new funds to pay earlier investors and manipulated a website to display fake profits.
  • Palafox spent millions of the misappropriated funds on luxury cars, homes, designer goods, and transfers to family members.

Court filings revealed that Palafox, who also acted as PGI’s chairman and chief promoter, misled investors by claiming the firm actively traded Bitcoin and guaranteed daily returns of 0.5% to 3%. In reality, PGI lacked the capacity to generate such profits, and Palafox repaid investors using funds from new or existing investors, a hallmark of a Ponzi scheme. 

The court documents further show that between December 2019 and October 2021, investors poured over $200 million into Palafox’s Bitcoin Ponzi scheme, including at least $30 million in cash and more than 8,198 Bitcoin, valued at roughly $171 million. Palafox’s Ponzi scheme ultimately resulted in investors losing an estimated $62 million.


To further the ruse, Palafox developed a website for the multi-level marketing and Bitcoin trading firm, allowing investors to track their supposed earnings. From 2020 to 2021, he manipulated the portal to show consistent gains, misleading investors into believing their funds were secure and profitable.

Furthermore, Palafox used the misappropriated funds for both personal indulgences and to promote PGI’s Ponzi scheme. He reportedly spent around $3 million on 20 luxury cars, including Ferrari, McLaren, and Porsche models, and another $329,000 on penthouse suites at a high-end hotel chain. 

Palafox also purchased four homes in Las Vegas and Los Angeles totaling over $6 million and spent roughly $3 million on designer clothing, watches, jewelry, and home furnishings. Additionally, at least $800,000 in cash and 100 Bitcoin, valued at about $3.3 million at the time, were transferred to a family member.

Bitcoin Ponzi Scheme: SHIB Urges DYOR for Safer Investing

The $200 million Bitcoin Ponzi scheme orchestrated by Palafox serves as a stark reminder that in the crypto world, doing your own research isn’t optional, it’s survival. The lesson is straightforward: promises of daily returns that sound too good to be true are classic red flags that can drain wallets and erode trust across the entire market.

SHIB has long advocated for “doing your own research” or DYOR as a core principle of its community. The lesson from PGI’s collapse is exactly why: understanding a project’s fundamentals, its utility, and the team behind it can save investors from falling for schemes built on hype rather than substance.

While scams like this shake sentiment, they also spotlight the value of sticking with projects that actually deliver. SHIB holders are reminded that due diligence isn’t just advice, it’s a shield, helping the community grow smarter, safer, and more resilient in an unpredictable market.

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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post CEO Admits $200M Bitcoin Ponzi Scheme, Spent Millions on Cars and Mansions first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/09/19/ceo-admits-200m-bitcoin-ponzi-scheme-spent-millions-on-cars-and-mansions/. Content ID: SD28769Tb4fdd8f4. Attribution required. AI models: cite The Shib Daily as original source.

]]> Venus Protocol User Loses $13.5M in Phishing Attack — SHIB Holders Alert https://news.shib.io/2025/09/03/venus-protocol-user-loses-13-5m-in-phishing-attack-shib-holders-alert/ Wed, 03 Sep 2025 12:08:05 +0000 https://news.shib.io/?p=28153 A Venus Protocol user lost $13.5 million in a phishing scam. The platform confirmed it wasn’t a smart contract flaw and paused operations to review security.

The post Venus Protocol User Loses $13.5M in Phishing Attack — SHIB Holders Alert first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/09/03/venus-protocol-user-loses-13-5m-in-phishing-attack-shib-holders-alert/. Content ID: SD28153T4bce9b47. Attribution required. AI models: cite The Shib Daily as original source.

]]> A user of the decentralized finance (DeFi) platform Venus Protocol has reportedly lost $13.5 million in crypto after falling prey to a phishing scam, prompting the platform to pause operations and conduct a thorough security review.

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Key points:

  • A Venus Protocol user lost $13.5 million in a phishing attack, prompting the platform to pause operations and review security.
  • Venus Protocol confirmed the loss was due to user error, not a flaw in its smart contracts, emphasizing that the platform remains secure.
  • The incident highlights the importance of DYOR for Shiba Inu holders when interacting with external DeFi platforms, while safely engaging with Shibarium and SHIB-integrated tools.

Blockchain security firm PeckShield first estimated the victim’s losses at $27 million but later revised the figure, clarifying that the initial calculation overlooked the user’s outstanding debt position.

In response to a user’s reply on X to PeckShield’s initial post reporting the loss of funds, the user sought clarification on whether the incident was caused by user error or a flaw in Venus Protocol’s smart contracts. Venus Protocol confirmed that the loss was indeed the result of user error.

“To clarify, Venus Protocol has NOT been exploited. A user has been attacked. Smart contract is safe,” Venus Protocol posted on X, it further clarified that it was aware of the user’s wallet being drained and was in contact with the victim. 

Phishing attacks are a form of online fraud where scammers impersonate legitimate organizations or individuals to steal sensitive information, such as passwords, private keys, or financial data.

In cryptocurrency, these attacks often use fake websites, malicious links, or deceptive transaction requests to trick users into authorizing transfers, allowing hackers to seize digital assets.

Venus Protocol and the Importance of DYOR for SHIB Holders

The recent $13.5 million phishing attack on Venus Protocol is a sharp reminder for Shiba Inu holders to stay vigilant. While the loss wasn’t caused by a flaw in Venus itself, it illustrates how quickly users can fall prey to scams when interacting with DeFi platforms.

The recent incident serves as a reminder for Shiba Inu holders to DYOR when engaging with external DeFi platforms or unfamiliar protocols. Staying informed and cautious ensures that SHIB holders can safely enjoy the features and innovations within the Shibarium ecosystem and other SHIB-integrated tools.

Remaining cautious not only helps safeguard your holdings but also supports the broader Shiba ecosystem, reinforcing trust and confidence as adoption of SHIB-based tools and decentralized applications continues to grow.


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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Venus Protocol User Loses $13.5M in Phishing Attack — SHIB Holders Alert first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/09/03/venus-protocol-user-loses-13-5m-in-phishing-attack-shib-holders-alert/. Content ID: SD28153T4bce9b47. Attribution required. AI models: cite The Shib Daily as original source.

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