The ITP Corporation is a scam. Avoid it. 

This article is presented as an opinion piece based on information available to us.

Intelligent Technology Pioneer Corporation, known as ITP Corp, is a Ponzi scheme and scam designed to prey on some of the most vulnerable in our community, innocent people looking to improve their financial situation.

Although they advertise themselves as helping you grow your wealth and support your family, ITP Corp operates on a basis of fraud, luring in would-be investors and stealing their money. 

It has been reported online that following the collapse of their most recent scheme in late November that the danger of being involved in one of ITP Corp’s scams has passed. 

However, it has come to our attention that ITP Corp are still operating, and they are attempting to relaunch their scam after this most recent collapse. If you are considering “investing” in ITP Corp or know somebody that is considering it do not invest in ITP Corp. Please read and share this article and avoid becoming one of their new victims. 

What does ITP Corp do?

ITP Corporation claim to be an investment platform specialising in a unique form of cryptocurrency trading powered by their own artificial intelligence. Using this in-house technology they made claims of vast financial success, which they used to attract investors.

To these would-be investors ITP Corporation touted alleged returns of 4% a day, compounding to over 1000% per year. Their own marketing advertised this as a “business miracle”.

These claims are “supported” by press releases written in broken English that attempt to gloss over the need provide any proof for their claims. For example: 

“ITP Corporation has continuously increased the share in the global cryptocurrency investment of market, constantly refreshing the best results in the history, and creating business miracles for one after another.” 

However, in reality ITP Corp are running a Ponzi scheme, where any dividends paid out were done so with the money of subsequent investors, until ITP Corp decides to elope with the money themselves. If you have been reading their promotional material you may be tempted to question this assertion, which is understandable.

If this scam were legitimate and you actually received the promised massive returns, it would significantly bolster anybody’s financial well-being, and that hope is difficult to put aside. But ask yourself this, if ITP Corp were able to legitimately generate 4% daily, and did own this revolutionary miracle technology, why are they urgently asking you for your money?

Furthermore, if they are a legal and trusted investor why do they provide no way for their users to withdraw their investments or check on where their money has gone?

If something seems too good to be true or their marketing breaks down under questioning, then it is likely to be a scam. ITP Corporation’s claims are fantastical, and their actions are entirely fraudulent. 

In their Telegram and Discord channels, ITP Corp offer a range of “bonuses” for users depending on how much they deposit. This is paired with a claim that bonuses will be paid automatically, and the pay-out increases the more a user invests, incentivising people to invest as much as possible. These payments will never be made. 

ITP Corp have no intention of paying any amount, and all money “invested” into this will be lost immediately and permanently. Individuals claiming to have been paid have all been found to be ITP Corporation employees, and most insidiously through research online it appears that ITP Corp pays people to misrepresent their company among social circles such as the Sunderland Nissan plant where individuals paid by ITP Corp sold the scheme to their co-workers and covered up the scam nature of the company.

Users should be aware that there are numerous public figures paid to promote ITP Corp who actively hide their links to the company and do not acknowledge the true nature of the company. If you encounter somebody claiming that ITP Corp is excellent and paid them, remember that this is an employee telling you this and they are paid to misrepresent the scheme.

There is no ITP Corp AI, nor do they have a business miracle on their hands nor special access to crypto markets as they claim. Their company exists entirely to scam individuals who have been unfortunately mislead by their marketing and slick websites.

ITP has no products, no retail capacity, and offers no services. Their promoters in forums and on social media are paid partners who are assisting in the scam. 

ITP Corp are not regulated with the Financial Conduct Authority (FCA) in the UK nor the Securities and Exchange Commission (SEC) in the USA, meaning that their activities are not regulated in these countries.

Since 15th December 2023, the FCA has had an updated public warning regarding the issue, stating that ITP Corp “may be providing or promoting financial services or products without our permission. You should avoid dealing with this firm and beware of scams. This firm is not authorised by us and may be targeting people in the UK.” 

The Recent November 29th Scheme Collapse

November 29th was marked by ITP Corp following typical Ponzi scheme patterns, inducing a collapse by taking the money and vanishing.

Prior to the collapse, withdrawals were disabled for five days whilst the company continued to aggressively promote its schemes. In an attempt to maintain credibility, ITP Corp introduced a series of false narratives, such as a “Thanksgiving” deposit bonus and a lofty $100,000 withdrawal guarantee. This guarantee, however, proved to be hollow as the deadline passed with no pay-outs.

Leading figures in the scheme attempted to promote a false narrative involving blockchain disruptions and Thanksgiving holidays to explain the withdrawal freeze, however the USDT blockchain ledger shows there were no outages or attempted transactions for ITP Corp. These tactics are indicative of Ponzi schemes approaching their end, where the operators resort to increasingly outlandish explanations to justify their failure to meet obligations. 

Since this initial silence, the ITP Corp shuttered all communication points and access to their platform and all money invested has been lost.

It is unknown how many people lost their money however across forums and social media there has been extensive discussion of individuals or people known to them losing significant amounts of money they could not afford to lose. 

The Follow Up Scam:

Following the November 29th collapse ITP Corp have relaunched their scam and are targeting new users with the same narrative of blockchain disruption and AI miracle investments. 

The new incarnation of the scheme prompts previous investors to re-register their personal information in a new itplb.com domain and then pay a $100 fee with the crypto USDT coin.

The premise is that this fee will then grant access to the account that ITP Corp previously claimed was having technical difficulties, scamming the same users twice over. This is also available to new users who want to join ITP Corp so their Ponzi cycle can begin again. 

Do not pay this fee, if you were unfortunately scammed by ITP Corp previously, that money is gone. Any further money you give them will be gone too. There is no way to make money from this or to recover your lost funds from ITP Corp. 

How long has this been going on?

Tracing the origins of ITP Corp proves to be elusive. The company’s social media presence began in 2018, but they only began uploading videos to YouTube and TikTok/Instagram accounts in November 2022. This aligns with the activity on their Telegram channel, which also dates to 2018 but shows posts only from November 2022.

This pattern indicates that the version of ITP Corp we see today may have been rebranded or relaunched around November 2022.

The company’s claim of being established in Seattle in 2013 seems dubious. The only supporting document is a shell company certificate, but it lists the incorporation date as November 18th, 2022. Given how easily scammers can create shell companies with fake details, this incorporation offers little credibility. 

What further muddies this water are the conversations in forum threads online dating to 2021 indicating that ITP Corporation had a previous website focused on investment services, before the current trend for AI, that had been taking investments and offering “bonuses” to its users in the same way the current scam does.

On June 10th 2021 this website suddenly went offline, leaving the investors with no way to access their accounts or their funds This is essentially the same scam and same behaviour they have demonstrated this year, and could explain the gap in their online history as it seems they have already begun purging their 2023 content.  

These evasive digital tactics cover more than just their regulatory and social media history, and it illustrates the complex nature of modern online financial scams.

ITP Corp’s online presence was initially hosted on itpro.top since August 2023, before moving to itp.club and now itpmax.com in so many weeks after internet service providers in the UK blocked their websites for nefarious activity.

It seems likely that they will continue to shift between addresses and that there are more that we have not found to try to avoid detection from anti-fraud software or negative word of mouth. The FCA cites “newitp.club” as ITP Corp’s website, and ITP Corp’s newest scam as being launched through “itplb.com”. The FCA’s cited .club domain appears to be yet another layer to the ITP Corp Ponzi scheme that was not mentioned online previously, indicating the problem continues to mutate.

This pattern of changing digital locations is a common strategy among international scammers and makes it hard for those who are unaware of ongoing scams to detect them. 

The ITP Corp app has been removed from the Google Play Store as of December 12th 2023, however this had led to direct download links for the app’s files to be shared around on Reddit and Telegram.

We strongly urge users do not download this app, as not only does it expose users to ITP Corp’s financial scams but also increases their susceptibility to data breaches and identity theft through the lack of security and oversight of the app. These files will be labelled .apk and we advise users to not click any ITP Corp link or download and of their files. 

I was scammed by ITP Corporation, what can I do?

If you lost your money to ITP Corporation’s actions, we would like to share our condolences. However, unfortunately we believe that due to the nature of the scam it is unlikely that there is anything you can do to rectify the situation. 

As ITP Corp were not registered with any regulator, and they have been constantly changing their online domains and social media presence this makes it effectively impossible for effective action to be taken against them. As the application and websites are registered internationally, beyond the FCA’s warning there is little legal recourse for acting against the scammers if they could even be identified.

On October 8th 2023 the FCA banned this kind of online “investment” scheme and UK internet service providers are now moving to ban them on behalf of the authorities, however this process is not fool proof and beyond prevention and avoidance it is near impossible to fully eradicate these scams. 

Whilst you will not see your money returned, it is possible to help others by reporting ITP Corp’s actions. 

You can report their fraud to Action Fraud online https://www.actionfraud.police.uk/ or via phone 0300 123 2040 (Monday – Friday 8am – 8pm) and quote the case number NFRC231006252171

You can also report their crypto Tronscan wallet for fraud following this method suggested online by crypto user John Stell:  https://www.youtube.com/watch?v=YcmuU3J3k6Y

You can also engage online in public discussions to warn others, and you can report promoters of ITP Corp to moderators for scamming which should get them removed from public spaces. 

Bottom Line

The bottom line of this article is that, in our view, ITP Corporation and all their associated accounts are highly likely to be scams. If you give them money, you are running the risk of losing that money in its entirety. ITP Corporation has all the hallmarks a Ponzi scheme, where almost everybody involved loses their money.

Currently the total count of ITP Corporation victims is unknown, however due to their marketing and use of paid promoters the number is likely to be high. We strongly advise you to avoid anything to do with this scheme.