The WishM "click a button" app Ponzi scheme has collapsed, leaving investors unable to access their funds. The platform, run by Chinese scammers, recently disabled all withdrawal functions. Investors attempting to inquire about their money were met with threats of fictitious legal action from the U.S. Department of Commerce.
WishM operated by presenting users with seemingly simple tasks to "complete" fake orders, promising returns on these fabricated transactions. This is a classic Ponzi scheme model, where early investors are paid with money from newer recruits. The platform's last active domain, "wishm.tv," saw approximately 181,000 visits in July 2023, with significant traffic originating from Suriname (33%), Belgium (29%), Macedonia (28%), and the Netherlands (10%). Online discussions also indicated a recent uptick in recruitment efforts in Libera.
Following the withdrawal freeze, users encountered a pop-up message on the WishM website. This notice falsely claimed that "illegal personnel" were maliciously slandering the company and affecting its corporate image. It asserted that WishM was a legitimate business recognized by the U.S. Department of Commerce, and that its legal department was collecting evidence to submit to judicial authorities. The statement warned that WishM would take action against individuals and businesses for defamation.
These claims are demonstrably false. WishM has no genuine ties to the U.S. Department of Commerce; any registration in the U.S. was likely through a shell company with fabricated details, a simple process for a minimal fee. Furthermore, defamation in the United States is a civil matter, and the Department of Commerce would not intervene in such cases. Accusing WishM of being a Ponzi scheme is accurate and protected speech, not defamation. Such disingenuous threats are designed to silence victims and hinder official investigations.
After issuing its hollow threat, WishM informed investors that withdrawals would be re-enabled between Wednesday and Sunday. This is a common tactic in exit scams, designed to create a false sense of security or buy time. Several scenarios could follow: WishM might make selective withdrawals, which would be promoted on social media to create an illusion of solvency. Alternatively, the scammers might simply disappear, disabling the website and severing all contact with investors, having already fled with the stolen funds.
The collapse of "click a button" app Ponzis without prior warning is a recurring pattern. This type of fraud continues to victimize individuals as long as they remain susceptible to these deceptive schemes. On August 17, 2023, the "wishm.tv" domain was disabled, confirming the exit-scam and marking the apparent completion of WishM's operation.