From one scam to the next? – Skainet and CermakFX in focus

Following the collapse of Skainet Systems, a suspected successor has quickly emerged in the form of CermakFX. For investors, the question arises: is this a classic reboot of the same system under a new name? Initial analyses and official warnings paint a clear picture.

Skainet Systems: AI promises without substance

From 2024 onwards, Skainet Systems advertised alleged AI-supported trading bots and a multi-level marketing approach. Investors were promised high returns in forex and crypto trading via skainetsystems.com. However, reports of frozen accounts, missing payouts and the obligation to inject further capital quickly began to pile up.

On 22 January 2025, BaFin issued an explicit warning that Skainet was offering financial services via the domain skainetsystems.com without the permission required under German law. This made it clear to investors that the business model was operating outside the legal framework.

CermakFX: Reboot under a new name

Immediately after the collapse of Skainet Systems, CermakFX entered the scene. Critical blogs spoke of a ‘reboot’: old members were to transfer their accounts and structures to the new system.

CermakFX formally operates as ‘Cermak LLC’, allegedly licensed by the Mwali International Services Authority (MISA) in the Comoros. But here lies the next stumbling block: The New Zealand Financial Markets Authority (FMA) made it clear that MISA is not authorised to regulate financial institutions in the Comoros at all. A ‘licence’ from MISA therefore has no regulatory value whatsoever.

The BaFin also explicitly mentioned Cermak LLC in its warning and referred to the prohibition on providing banking or financial services in Germany without permission. Investor reports on Trustpilot and relevant forums continue to criticise the lack of functioning payouts.

Recurring problems for victims

The same problems occur with both Skainet Systems and CermakFX:

• Payouts fail or are made dependent on new deposits.
• Those responsible remain anonymous, and official registers do not name any clear governing bodies.
• The supposed ‘licences’ originate from jurisdictions without international recognition.

Conclusion

The sequence from Skainet to CermakFX shows a clear pattern: as soon as a project collapses or comes under regulatory pressure, the next name appears, with the same promises and the same risks. Investors are advised to exercise extreme caution.

There is no evidence of sound investor protection here. On the contrary, anyone who invests is entering an environment without regulation, transparency or legal protection. Authorities such as BaFin have already issued warnings, and victims should take these warnings seriously.

Note: This article is a journalistic analysis. It distinguishes between verifiable facts (e.g. warnings from supervisory authorities) and assessments (patterns, possible connections). All information is provided to the best of our knowledge, without guarantee.

Sources:

• BaFin: Consumer warning about skainetsystems.com / Cermak LLC, 22 January 2025
• FMA (New Zealand): Warning about MISA licences, 2024
• Trustpilot reviews of skainetsystems.com and cermakfx.com, accessed 09/2025