MetFi: Scam must go on

The telenovela related to the MetFi Ponzi scheme continues. I had already told you about this scam in two separate articles (you can read them here and here) and I decided to tell you about it again in this article whose title recalls the famous song “Show must go on” released by Queen in 1991. On December 19, 2022 a private meeting of MetFi was held in Dubai at the Address Sky View hotel.

The event held by MetFi

This event was attended by Carlos Oestby, a well-known face of network marketing and former Black Diamond of Organo Gold. He calls himself “The Millionaire Coach”.

Carlos Oestby

In 2016 he left Organo Gold to join Coinspace, a Ponzi scheme which obviously collapsed after a few months and caused those who believed in this scam to lose their money. According to their website still online, their commitment (unfulfilled) can be read: “Our passion is meeting and exceeding customer expectations”  (Then I would add the clown emoji behind it).

The dead and buried Coinspace

Coinspace was engaged in cryptocurrency mining, but the most interesting income was given by the sale of various packages to the recruited people. Obviously Coinspace was 100% abusive everywhere and in 2017 the Maltese and Italian financial authorities warned investors that Coinspace did not have any authorization to operate in Malta and Italy and also invited them to be wary of this scam. Just search on Google the words “Carlos Oestby Coinspace” and videos of this scoundrel talking about “company vision”, “incredible opportunity”and usual antics can still be easily found. Below you can see him during the private meeting.

Carlos Oestby during the private meeting of MetFi

Carlos Oestby during the private meeting of MetFi

I saw an Instagram story from one of the participants where Carlos Oestby speaks the usual network marketing lingo like “you have to find your purpose” or “you have to find your why”. These clowns have no knowledge of Cryptocurrencies and base their business on this vague and hackneyed talk. I’ll spare you the obscenities I’ve seen, including: “full on-chain transparency" or “keeps its promises and delivers on time”.

According to MetFi scammers these are the main differences between MetFi and others

TRANSLATION: “Difference between a protocol like MetFi and all the rest of the market and the various business models”. Also on Instagram, one of these scoundrels said a few days later: “see you on the first page of the market cap. It’s just a matter of time”.

The Instagram story

I don’t know any “market cap”, I know CoinMarketCap. I should add that today as I write this article, at number 100 on the first page of CoinMarketCap is Kava, which has a market cap of almost $ 250 million and a volume of $ 7.6 million in the last 24 hours.


I doubt the MetFi bulls**t could get to that volume. Most of these MetFi scammers are Italian and when you see their Instagram profiles filled with luxury cars and travel, ask yourself where they get all this money from. They are neither entrepreneurs, nor have they ever created a company. They scam people so they can afford the lifestyle they have. Most of them are located in Dubai, UAE or often go there. According to Behind MLM, Dubai is the MLM scam capital of the world. Don’t fall into their trap and always DYOR when evaluating a crypto project.

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