Poles love financial pyramids. The Polish Financial Supervision Authority has its hands tied and fraud is flourishing
Posters in beauty salons, offices in Warsaw, Szczecin and Gorzów and the slogan “one investment, profit for life” – this is how the TSQ Investment Group community was built in Poland, which supplied money to the suspicious Hellobit cryptocurrency exchange. Today, customers are raising alarm about interrupted payouts, and leaders are trying to reassure them. Has another financial pyramid scheme just deceived thousands of Poles?
Over the last 3 months, many smaller and larger financial pyramids have operated and collapsed in Poland, including the infamous CoinPlex. However, we can already see another likely candidate to join this group on the horizon. TSQ Investment Group and Hellobit – about which we warned at the beginning of September – have gained a lot of supporters in our country, tempting them with the promise of simple earnings. We are receiving signals that the project has just suspended payments.
“One investment, profit for life”
– this is the slogan used by TSQ Investment Group on its posters. They were placed in many places. This is thanks to the “Brand Support” program, in which business owners could receive up to $500 from TSQ for placing physical advertisements for the organization in their premises. In Poland, they appeared in beauty salons, restaurants and even at a stationary insurance sales point. TSQ Investment Group banners were visible on one of the main streets in Ustka, on truck trailers and on the side of a fishing boat.
On the main global TSQ Investment Group channel on Telegram, with 136,000 followers. subscribers, dozens of new photos arrive every day with satisfied community members posing with phones with the Hellobit exchange application turned on. They come from Moldova, Spain, Armenia, Slovakia and Turkey. Numerous shots were also taken in Poland, during meetings of investor groups in restaurants and hotels.
One of the photos shared on Telegram was taken in front of the TSQ office in Gorzów Wielkopolski. Two community leaders pose in front of a Ford Explorer covered with the organization's stickers. But what exactly are Hellobit and TSQ Investment Group?
Certain profit and full effectiveness
The money invested with TSQ Investment Group was supposed to be returned after 35 days. People who joined were promised at least 1.8% daily profit (CoinPlex offered an identical rate of return). The user's earnings increased as he gained more “investors”, becoming the leader of the group. Leaders could count on additional rewards, bonuses and “dividends” for acquired users.
TSQ Investment Group recruited clients who registered on the Hellobit exchange and transferred funds to it. They were to invest in it according to market signals published in the closed TSQ group on Telegram. They were delivered by Professor Henry Jones – the ghost man. Despite a rich biography on the project's website, he does not appear in a single photo and is impossible to find on the Internet.
Henry Jones' market signals had almost 100% success rate. According to TSQ, they were so good because “the latest artificial intelligence engines” and a staff of analysts participated in their creation. According to former clients, the signals came true because Hellobit manipulated the platform so that the charts adjusted to the forecast. The received signal only needed to be copied and pasted into the appropriate place in the stock exchange application.
TSQ Investment Group and Hellobit are most likely closely related, although they declare independence. In fact, it is difficult to call them companies, because despite their presence in US registers, there is no independent information about their offices, employees or management on the Internet. Both entities do not have any permits to provide investment services. Moreover, the Spanish equivalent of the Polish Financial Supervision Authority – CNMV – issued a warning via Hellobit twice (the last time in October).
TSQ Investment Group conquers Poland
TSQ Investment Group and Hellobit set out to conquer Poland in the fall of 2024, finding fertile ground for people dealing with esotericism, fortune telling and healing. In their activities, multi-level marketing was combined with the affirmation of wealth and spirituality. Apart from that part of the Polish TSQ structures that had an office in Warsaw, the project was also developing intensively, among others. in Szczecin.
As our editorial team learned, the first reports that TSQ Investment Group and Hellobit may constitute a financial pyramid were sent to the Polish Financial Supervision Authority in March 2025. The whistleblower who contacted Bankier.pl also notified the Office of Competition and Consumer Protection, the police, the Central Bureau for Combating Cybercrime and CERT. The Polish Financial Supervision Authority replied that the indicated entity was not under its supervision. The Office of Competition and Consumer Protection sent an answer that appeared to be automatic generated formula.
More than half a year after submitting the notifications – in early November 2025 – we receive information that TSQ users are starting to report problems with withdrawals. Over the last 3 months, at least 7 financial pyramids have collapsed in Poland – we write about those that we can mention by name, but this type of fraud appears on a massive scale and quickly collapses throughout Europe. They probably come here from Asia and find only local leaders and promoters.
According to our information, the leaders of TSQ Investment Group were eager to argue that since their business was not on the Polish Financial Supervision Authority's Public Warning List, it was safe and legal. In this way, they refuted accusations that the project could be a financial pyramid. However, as the Polish Financial Supervision Authority told us, the Commission has no legal possibility to add entities with features of a financial pyramid to its blacklist.
Polish Financial Supervision Authority and legal restrictions
KNF spokesman Jacek Barszczewski explains that the Commission cannot include any company on the public warning list. “The Commission does not have any freedom or discretion – entry on the LOP is strictly conditioned by the provisions of the Financial Market Supervision Act and concerns specific crimes listed there. This means that, for example, suspicion of fraud (including the so-called 'pyramid scheme') does not qualify for entering the entity on the LOP,” he comments.
“The vast majority of entities indicated in the question that may have the characteristics of a pyramid scheme are not entities supervised by the Polish Financial Supervision Authority.which means that the Polish Financial Supervision Authority has no jurisdiction over them. The Polish Financial Supervision Authority cannot, for example, prohibit such an entity from conducting business, as is the case with supervised entities,” explains Jacek Barszczewski.
In practice, this means that even if the KNF is the first to notice disturbing signals in such cases, its role is limited to notifying the prosecutor's office. “A good example is Amber Gold. The Office of the Polish Financial Supervision Authority was the first state institution to identify the threat and react, taking real and decisive actions in the form of issuing a public warning and submitting a notification to the prosecutor's office,” reminds Jacek Barszczewski.
The Ombudsman adds that the KNF Office does not stop at notification – it also often provides relevant information and analysis results to other state authorities. “This was the case, among others, with CoinPlex,” says Barszczewski. “Law provisions protecting consumers prohibit the creation, operation or promotion of pyramid schemes. Such behavior is also classified as unfair market practices. The President of the Office of Competition and Consumer Protection supervises compliance with this prohibition,” summarizes the spokesman for the Polish Financial Supervision Authority.
What awaits Hellobit and TSQ Investment Group?
If the information about the suspension of payments is confirmed, it may indicate the last stage of the activities of both entities.
If you look at this situation with a more positive attitude, you will see that I have never avoided any problems. On the contrary, I actively and systematically address everyone's concerns. I fully understand everyone's current anxiety and concern over outcome expectations and safety concerns. But please think calmly whether panic will really help us solve the problem,” wrote Henry Jones to the 9,448-member Polish TSQ group on Telegram, trying to cool down emotions.
If the suspicions and the worst-case scenario are confirmed, and Hellobit and TSQ Investment Group turn out to be a financial pyramid, the next stage may be (as was the case with CoinPlex) an attempt to extort additional funds from customers. Fraudsters may do this under the guise of charging a one-time fee for account unblocking, verification or withdrawal.
Another practice typical of investment fraud is the sale of customer databases. After some time, fake law firms may call the injured parties, offering “help in recovering funds.” Their role will be limited to accepting payment and disappearing.
