BSP-Licensed Crypto Exchange Denies Participation in Defunct Crypto Schemes StableSwap, The Advantage Club
The role of a representative of BSP-licensed crypto exchange TopJuan in an earlier thought fraud emerges amidst news about brand-new partnerships.
Disclaimer: This article is for informative purposes just and does not make up financial suggestions. BitPinas has no business relationship with any pointed out entity unless otherwise stated. Amid growing issues from the crypto neighborhood, in your area licensed Virtual Possession Service Provider (VASP) TopJuan Tech has actually denied any participation with The Benefit Club and StableSwap, two defunct high-yield crypto endeavors now facing analysis over apparently missing out on funds amounting to more than $20 million. TopJuan Tech is signed up as both an Electronic Money Issuer (EMI) and Virtual Asset Company, allowing TopWallet to support both digital possession services and fiat transactions under the Bangko Sentral ng Pilipinas (BSP)’s oversight. BitPinas has actually reached out to TopJuan for further remark however has yet to receive an action.
What Taken place? A day after BitPinas reported the collaboration in between DvCode and TopJuan, numerous individuals claiming to be rip-off victims joined the BitPinas Official Neighborhood Group on Telegram declaring that TopJuan and its representative Karl Coelho were involved with the defunct projects and have their money. While Coelho’s name was not clearly discussed in the post, the alleged victims indicated an image consisted of in the report, which showed him shaking hands with DvCode CEO Eli Rabadon during what appeared to be a formal finalizing of the partnership between the two companies. The article, which was intended to cover a partnership between the two tech firms, was misinterpreted by the declared victims as a collaboration between BitPinas and TopJuan. In the BitPinas Official Community Group on Telegram, the alleged victims declared that Karl Coelho played a central function in the failed schemes involving StableSwap and The Advantage Club. Legal professional Atty. Rafael Padilla, who is a member of the BitPinas Telegram group published that while he can not discuss the matter, he advised care and due diligence: Keep in mind: BitPinas repeats that it has no commercial relationship with Top Juan or any associated entities and remains committed to independent journalism.
TopJuan Clears Its Name, Denies Involvement Accordingly, TopJuan Tech Corporation, right away released an official notification and denied any association with the collapsed crypto tasks. In a declaration posted openly, the firm clarified it is “not affiliated, associated, connected, associated, or in any way in partnership with ‘Benefit Club,’ ‘Stable Swap,’ or ‘Benefit Club, a.k.a. Stable Swap.'” TopJuan even more highlighted that it does not provide liquidity pool or cryptocurrency staking services and alerted that any claims suggesting otherwise are false. TopJuan advised the general public to remain alert against misinformation and to validate the authenticity of crypto-related platforms and services: The BitPinas group has actually already asked the TopJuan group for additional discuss the matter. But as of June 20, 2025, the publication still got no response.
DVCode Launches Statement Following growing public issue over its partnership with TopJuan, DvCode Technologies Inc. launched a declaration, acknowledging awareness of the concerns circulating online and kept in mind that while it will not comment on unproven claims or ongoing legal matters, it is presently carrying out an internal review as part of its due diligence.
What are Stableswap and The Opportunity Club? While restricted information is presently available, with both the website and social media accounts taken down, The Advantage Club and its associated platform StableSwap are believed to have actually operated as liquidity platforms in the decentralized finance (DeFi) area. According to some Medium posts (1, 2, 3), Privilege Club, formerly known as StableSwap, was a DeFi platform that assured users up to 0.5% daily returns on stablecoins like $USDT and $USDC. It ran through various revenue-generating systems such as OTC spreads, remittance fees, P2P deal fees, and on/off-ramp charges, with 80% of collected charges apparently assigned to user rewards. Users were required to sign up through an invitation-only system and make minimum deposits to sign up with various “Opportunity Pools” with repaired terms varying from 60 to 300 days, after which, initial deposits were said to be returned. Launched in 2024 with pledges of safe and secure, high-yield crypto financial investments, the two platforms supposedly drew in an international financier base. Reports from neighborhood channels suggest the platforms suddenly shut down, leaving users without access to their funds or any client support. In the case of TopJuan, a YouTube livestream in January 2024 featuring an AMA session with Danny D, a co-founder of the platform Steady Swap, discussed that they are using non-prescription features in the Philippines through their partnership with TopJuan Tech.
This short article is published on BitPinas: VASP-Licensed TopJuan Denies Ties to Collapsed StableSwap, Privilege Club What else is happening in Crypto Philippines and beyond?
A day after BitPinas reported the collaboration in between DvCode and TopJuan, numerous individuals claiming to be scam victims joined the BitPinas Official Community Group on Telegram alleging that TopJuan and its representative Karl Coelho were involved with the defunct jobs and have their cash. The short article, which was intended to cover a collaboration between the 2 tech firms, was misinterpreted by the alleged victims as a collaboration between BitPinas and TopJuan. TopJuan Clears Its Name, Denies Involvement Appropriately, TopJuan Tech Corporation, immediately released an official notification and rejected any association with the collapsed crypto jobs. TopJuan urged the public to remain vigilant versus misinformation and to confirm the credibility of crypto-related platforms and services: The BitPinas group has actually currently asked the TopJuan team for further remarks on the matter. In the case of TopJuan, a YouTube livestream in January 2024 featuring an AMA session with Danny D, a co-founder of the platform Stable Swap, pointed out that they are using non-prescription functions in the Philippines through their partnership with TopJuan Tech.
