G999 Review – Refrain From Using This Shady Wallet

G999 is a decentralized cryptosystem operating on its blockchain, designed as a peer-to-peer electronic cash mechanism. Combining the qualities of gold-like scarcity with spendable cash, G999 promises fast, secure transactions without relying on traditional financial intermediaries.

Sounds like a great offer, but is the business legitimate? We did some research into this platform and uncovered its connection to a web of multi-level marketing (MLM) schemes, run by the controversial Josip Heit’s GSPartners Group. There are several regulatory alerts and warnings against this shady network, which questions the honesty and transparency of the crypto platform.

Hence, we urge you to read our revealing G999 Review and learn the truth before rushing into an investment venture you will later regret.

Wallet status:	Unlicensed Crypto Wallet
Regulated by:	Unregulated
Operating Status:	Active Crypto Wallet Scam
Known Websites:	g999main.net
Warnings Issued By:	SSB Texas, Arkansas Securities, SOS Mississippi, DFI Washington, ASC, BCSC, OSC, FCAA
Owner:	GSB Gold Standard Pay Ltd
Headquarters Country:	Kazakhstan, Sweden
Website Active Since:	2020-09-21
Desktop App:	Windows, Linux
Mobile Trading:	Unavailable
Minimum Deposit:	N/A
Deposit Bonus:	N/A
CFD Trading Option:	No, you cannot trade CFDs
Cryptocurrencies:	Yes
Maximum Leverage:	N/A
Islamic Account:	Unavailable
Free Demo Account:	Unavailable
Accepts US clients:	Yes
Global Fraud Protection Experts’ Verdict:	Avoid Working with this Company

Is G999 Regulated?

Despite claiming to be registered as a Financial Services Provider with the Ministry of Economy of Kazakhstan, there is no evidence to support this. It seems that G999 is not properly regulated. Yet, the provider tried to win over clients from top-tier jurisdictions such as the United States and Canada.

As a result, the market watchdogs of those countries reacted to the cyber threat and issued warnings to their local traders and investors. Four American regulators exposed G999’s ties to Josip Heit and his cunning ventures, each issuing a Cease and Desist Order against the operations.

These authorities include the Texas State Securities Board (SSB), the Arkansas Securities Department (AS), the Mississippi Secretary of State Securities Division (SOS), and the Washington Department of Financial Institutions (DFI).

“GSB Gold Standard Group, also known as GSB Group (‘GSB Group’), is an international coalition of affiliated entities controlled by Josip Dortmund Heit. They have been and are broadly perpetrating various fraudulent investment schemes that are threatening immediate and irreparable public harm,” the Texas SSB warns.

Four Canadian market watchdogs also blacklisted the aforementioned entities – the Alberta Securities Commission (ASC), the Ontario Securities Commission (OSC), the British Colombia Securities Commission (BCSC), and the Financial and Consumer Affairs Authority of Saskatchewan (FCAA).

Associated With Josip Heit, MLM Schemes

Josip Heit is a controversial figure due to his involvement in various business ventures, particularly in the cryptocurrency and MLM sectors (GSPartners, Gold Standard, Swiss Valorem Bank, Lydian World, and G999). MLM structures are often scrutinized for their recruitment-focused models and unsustainable nature.

Several Canadian and American financial regulators have issued warnings against G999 and associated MLM schemes, exposing the extensive network of legal entities and domains connected to Josip Heit and emphasizing compliance issues and violations.

In May 2023, US citizen Christopher Scanlon was arrested in Miami for allegedly engaging in an unauthorized money-transmitting business. Two of his companies reportedly facilitated payments for GSPartners and Swiss Valorem Bank.

In short, G999 is affiliated with the Heit’s GSPartners Group and operated by Kazakhstani GSB Gold Standard Pay Ltd. Its association with MLM schemes, stagnant coin prices, and minimal trading volume, raises concerns. We thus recommend you stay away from the firm and its connected schemes.

Who Are G999’s Targets?

According to godaddy.com/whois, the g999main.net website domain was created on September 21, 2020. Since then, the financial swindlers have been targeting mainly traders and investors residing in the following countries:

• United States;
• United Kingdom;
• Canada;
• South Africa;
• India.

Countries like the US, UK, and Canada have heavy market regulations and strict laws in force regarding financial transactions. Their respective regulators rigorously control the markets to ensure everything is done by the book, as can be seen from the warnings.

G999 is not authorized to accept clients from America and Canada (see previous sections). The UK is also tightly regulated, meaning there is no room there for illicit platforms. If you live in any of these states, please stick to licensed providers and avoid dubious firms such as Apex Finance.

User Reviews and Feedback

The G999 token is not looking good. Per coinmarketcap.com, it does not have a verified market cap, which is indicative of fraudulent practices while isthiscoinascam.com rated it as poor. Frankly, the token is a shitcoin, excuse our language, used to run a Ponzi pyramid scheme. The whole coin fraud was exposed by BehindMLM. Users on Reddit seem to be aware of this fact.

As for investor G999 reviews, we found mixed feedback on revain.org. The 39 reviews outline the pros and cons of the platform. Users cite black market activities and unregulated status as the main issues. All in all, the reception was not satisfactory, which is yet another reason to avoid using G999.

Wallet Features

Based on the information on the website, users can store and manage their coins in two main G999 wallet types:

• Web Wallet:
  • Convenient option for accessing coins online without the need for software installation.

• Core Wallet:
  • Available for macOS, Linux, and Windows operating systems;
  • Full control over users’ coins, ensuring that no third party, including governmental authorities, can freeze or lose funds;
  • G999 staking opportunity for passive income, requiring users to install the wallet and deposit at least 249.999 G999 coins.

The wallets are useless if the G999 coins are worthless, which is the case here. Do not buy into the whole staking frenzy and the promise of lucrative passive income. You cannot count on illicit firms to live up to their words.

What Should I Do If I Have Issues With G999?

In summary, G999 is a crypto wallet associated with the controversial Josip Heit and his GSPartners Group. Despite claiming registration as a Financial Services Provider in Kazakhstan, there is no supporting evidence, implying that the platform is unregulated.

American and Canadian authorities have issued warnings against G999 and its ties to Josip Heit’s ventures. Due to his controversial involvement in MLM schemes, such as GSPartners and Gold Standard, as well as the G999 token’s lack of a verified market cap, we strongly advise our readers to stay away from this platform.

If you have fallen victim to the G999 scam, we recommend you book a free consultation with us and tell us more about your case. We can help you in the fund recovery process. Fusion Forensics Limited’s experts utilize complex software to get clients their hard-earned money back!