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What Happened To Forsage? A Simpler Way To Earn Online In 5 Minutes A Day

By The No Job Lifestyle Team · Last reviewed · How we research

Were you in Forsage? Here is the public record on the SEC and DOJ cases and what former members do now.

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Quick answer: Forsage sold itself as a crypto matrix project run on smart contracts. In August 2022 the SEC charged 11 people, saying it was a pyramid and Ponzi scheme that raised over $300 million. In February 2023 the DOJ indicted its four founders over about $340 million. These are allegations.

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1What Forsage Promised Members

Forsage told members that 100% of income went straight to them through smart contracts with zero risk.

Members paid in Ethereum and other coins to join matrix slots and earned when new people joined below them. The SEC said returns depended almost fully on recruiting.

2The SEC Case In 2022

On August 1, 2022 the SEC charged 11 people, including the four founders, over an alleged $300 million crypto pyramid scheme.

The SEC said the founders were last known to live in Russia, Georgia and Indonesia. Several US promoters were also charged.

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What Forsage promised members

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3The DOJ Indictment In 2023

On February 22, 2023 a federal grand jury in Oregon indicted founders Vladimir Okhotnikov, Olena Oblamska, Mikhail Sergeev and Sergey Maslakov.

The DOJ alleges the founders coded one smart contract to move member funds to wallets they controlled. Each is charged with conspiracy to commit wire fraud. An indictment is only an allegation, and the defendants are presumed innocent.

4How We Would Check Any Online Business Program Today

Look for a real product people buy without joining, skip big upfront fees, and test small before you scale.

A program that pays mostly for recruiting is a warning sign, crypto or not. Search the name with FTC, SEC or CFTC, and start with something free or cheap that you control, like your own page and email list. Ignore anyone offering to recover lost crypto for a fee. Results vary and nobody can promise income.

  1. Search the name plus FTC, SEC and CFTC
  2. Never pay a fee to recover lost crypto
  3. Start small with a stream you own and control

Ready to start? Our free guide on letting AI trade for you walks you through it step by step, and our shut down and sued money programs guides cover the rest of this topic.

Primary Sources For This TopicWe check facts on this topic against these primary sources. See how we research.

Questions people ask

Is Forsage a scam?

The SEC and DOJ allege it was a Ponzi and pyramid scheme. The cases are allegations, not convictions.

How much did Forsage raise?

The SEC said over $300 million and the DOJ said about $340 million.

Who founded Forsage?

The DOJ names Vladimir Okhotnikov, Olena Oblamska, Mikhail Sergeev and Sergey Maslakov.

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