Alexandre Dreyfus is making billions of Euros by scamming football fans in Europe with shitcoins

As explained in this article, Alexandre Dreyfus who has just acquired Lovin Malta, unwittingly avoided the spotlight in the crypto industry for being a small and insignificant player. However, the fact that he was very early in crypto enabled him to make a lot of money from seemingly innocent schemes which today would easily be considered as illegal scams.

The local mainstream press had a lot of praise for him and only we pointed out the shady nature of his business. The Shift News had previously also ran a couple of articles about him. Saviour Balzan’s rag poured praise on him and Times of Malta even described him as a “blockchain entrepreneur” which is hilarious because he is actually a shitcoin salesman.

 

 

Alexandre Dreyfus created a layer-2 blockchain called Chiliz on the Ethereum blockchain in 2018. He sells his so called “football team tokens” on this blockchain. This was shortly after bitcoin had hit $20K for the first time, and the massive systematic and industrial fraud within the crypto industry had just begun. Hundreds and thousands of scams were born during that craze, including the ICO phase, where so-called “entrepreneurs” rushed to bring crypto into every sector and aspect of life, claiming it was the next big thing that would change the world. And all that stuff. Most of the projects and initiatives born during this craze were outright scams and pump and dumps that offered nothing in return for taking your money. Many of the popular names that came out of this craze are, today, in trouble with the law, like Richard James (Heart) Schueler.

Not Alexandre Dreyfus, however, who was more professional and business-minded with his proposed scam. He intended to “merge sports with crypto” supposedly giving him a legitimate business mission when in reality it was just a very well-marketed scheme to sell shit-tokens to football fans and extract as much money as possible from them.

Alexandre Dreyfus is generating billions of Euros dumping his shitcoins onto gullible football fans and we don’t even need to confirm this on the blockchain to say this. He is registering these sales himself in his company’s accounts, Mediarex, which is based in Malta and owns the Chiliz blockchain.

The sales of these tokens are, as you can clearly see below from the Coinmarketcap charts, made against the liquidity provided by the fans, reducing the tokens essentially to a “rug-pull” and “pump and dump” shitcoins. The football clubs are also making a lot of money from these scam tokens as they partner with Dreyfus to sell this shit. All of the tokens that Dreyfus sold to football fans in Europe and across the world are down bad with his main token Chiliz also being down bad from the highs. Ordinary people lost billions of Euros buying this shit and no one is talking about it.

Maybe, no speaks about it because Alexandre Dreyfus is also a bit of a bully when it comes to journalists. I could confirm with Caroline Muscat of The Shift News that he threatened her with his lawyers when she released stories about him. Yet, this person is now the owner of one of Malta’s biggest mainstream press outlets.

We will have more as we learn and investigate further, especially about Dreyfus’ interests about investing in the “local media”.