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The “secret” Project Lantern Ponzi scam run by Michael Faust has failed.

Due to “substantial losses,” withdrawals have been disabled.

The “Project Lantern Team” wrote in a back-office update dated February 5th;

The financial and cryptocurrency markets have lately gone through a period of extremely high volatility.

Unfortunately, Project Lantern has suffered some major losses as a result of the recent swift and violent downward swings in the cryptocurrency market, which also caused a decrease in the entire value of the portfolio’s trading assets.

Due to the loss, it is advisable to formally cease interest payments, commission payments, and withdrawals to safeguard participants. until the financial losses may be made up, if possible.

In light of the foregoing, this is your formal notification that the aforementioned duties are hereby suspended immediately for three months, following which the best course of action will be established and notified.

The “Project Lantern Team” is thought to be none other than Faust. Chris Thomson and Azli Noor, who worked with Faust on Project Lantern, both seem to be somewhat insignificant individuals.

In April 2021, BehindMLM evaluated Project Lantern. We discovered a bitcoin Ponzi scam promising a return of 6.5 percent per month.

The fact that Project Lantern was a straightforward Ponzi scheme led by a seasoned Ponzi fraudster is what caused it to fail.

Nothing to steal if no fresh investment is made.

Faust seemed to have moved on, on his end.

By declaring he was “letting go of people” and “going to cease having uncomfortable talks,” Faust ushered in the year 2022.

A dialogue about “where’s my money?” is undoubtedly challenging for a Ponzi schemer. But it’s a little rude to ignore those who find your theft of their money to be an issue.

Faust spent an unspecified sum on “hospital stays and surgery” during Q4 2021, which led to the failure of Project Lantern.

Unknown are the number of Project Lantern victims and the full extent of investment losses.

Updated on February 23, 2022. Michael Faust is currently advertising Hyperverse after his Project Lantern Ponzi scheme failed.

The defunct Ponzi scam known as HyperFund was revived as Hyperverse.

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