The DasCoin Ponzi scheme has collapsed, prompting the company to shutter its website and leaving investors in limbo. Visitors are now greeted with a message indicating a hard fork of the DasCoin blockchain. This event, which occurred on May 14, 2019, saw network nodes vote to support a new coin, now revealed as GreenPower.
DasCoin first surfaced in 2016 under the umbrella of Coin Leaders, a company later rebranded as Net Leaders. CEO Michael Mathias actively defended the scheme, falsely publicizing a partnership with the Maltese government. Mathias also reportedly threatened a journalist for drawing parallels between DasCoin and the OneCoin Ponzi scheme. Regulatory bodies took notice; Poland issued an investment fraud warning, and British Columbia, Canada, followed with a securities fraud cease and desist order. Following a criminal investigation into DasCoin and NetLeaders in Poland, NetLeaders rebranded again to Excelz late last year. This new iteration appears to have been abandoned by early April, with its website seized by the registrar around April 6th.
DasCoin had managed to gain listings on several public exchanges, only for its internally inflated value to plummet. Today, DASC trades publicly for a mere 1.5 cents. The GreenPower fork is essentially Michael Mathias recycling his DasCoin blockchain under a new name. The GreenPower website describes the currency as a global rewards unit with a fixed supply distributed to over 150,000 accounts across 180 countries. It positions GreenPower as a store-of-value within an ecosystem of synergistic companies, intended for use as loyalty rewards by merchants. In practical terms, GreenPower is DasCoin 2.0. The DasWallet and internal DasExchange have been repurposed for GreenPower. The new currency inherits the burden of DasCoin's victims, who will likely attempt to liquidate holdings if GreenPower sees any speculative pump. Such a pump depends on attracting new investors, a prospect that remains uncertain.