Athena Crypto Scam | Elite Palace | Alec Merritt
Athena Crypto Scam | Elite Palace | Alec Merritt
The allure begins with genuine expertise. On social media, a group calling itself ElitePalace draws in investors with a sophisticated curriculum on market mechanics, offering educational insights that appear indistinguishable from high-level financial coaching. For months, the group’s leadership—identified as Marcus Hawthorne, Alec Merritt, and Tessa Marlowee—built a facade of immense credibility by issuing stock and cryptocurrency recommendations that frequently yielded short-term gains of 20% to 50%. To further cement the bond with their audience, the organizers distributed "free" capital in the form of Bitcoin, USDT, and their proprietary token, ELIX.
The pivot from education to a closed-loop ecosystem occurred under the guise of a "one-week test" on a proprietary trading platform known as Milase. In a calculated move to eliminate risk aversion, ElitePalace provided participants with $700 in "house funds," allowing them to keep any profits earned over a week of high-frequency trading provided the initial principal was returned. One observer reported seeing that $700 grow to $1,900 in just five days. However, the mechanism of this success was entirely contained within Milase; the cryptocurrency pairs being traded existed only on that platform, making it impossible to validate the price action against the broader global market.
Investigation into the Milase platform reveals a series of profound anomalies that suggest a "walled garden" designed to deceive. While mainstream exchanges value certain niche tokens at mere pennies, the Milase interface lists those same assets at valuations exceeding $100. Furthermore, the platform offers unique futures trading capabilities that are unavailable on any regulated exchange. The operational strategy of ElitePalace mirrors that of other known entities, such as Ellsworth & Vane, utilizing identical platform interfaces and partner programs to lure capital.
The scheme has now entered a more aggressive phase, with leaders encouraging participants to invest their own capital while maintaining a facade of "conservative" advice. To maintain the illusion of value, the group has implemented a lock-up period, preventing users from selling their native tokens under the pretense of "market stability"—a move rarely seen in legitimate, liquid markets. Despite the lack of verifiable history for Milase.com, investors are reportedly pouring large sums into the platform, convinced by the narrative that these tokens provide unprecedented liquidity. In reality, the entire environment appears to be a digital mirror, reflecting whatever gains are necessary to keep the capital flowing in.
The evolution of a modern financial scam often begins with a foundation of genuine value, and one currently unfolding WhatsApp group serves as a textbook example of this sophisticated grooming process. Initially, the group focused on AI-driven stock analysis, providing members with legitimate news, educational resources, and daily picks that actually yielded high returns. By delivering real profits and helping users build long-term portfolios, the organizers established a deep sense of trust and "proof of concept" that would later serve as the hook for a much larger deception.
The transition began subtly as the moderators shifted the focus from traditional equities to a "revolutionary" AI crypto trading software. To lower the barrier to entry and eliminate immediate skepticism, the group leaders initially funded participant accounts themselves, allowing users to keep the profits while only returning the principal. This tactic effectively weaponized the reciprocity principle, making participants feel indebted to the platform. As market volatility increased, the narrative shifted; the "Professor" leading the group began advising a 60% allocation into crypto, a move that allegedly yielded 70% profits and prompted members to begin pouring their own capital into the system.
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Today, the psychological manipulation has reached a fever pitch. With the "Professor" declaring traditional stocks too risky, the suggested allocation has jumped to 80%, sparking a cult-like fervor among the members. Driven by the desire for "senior member" status and exclusive "premier signals," participants are now reportedly liquidating retirement accounts and seeking personal loans to chase a projected 300% weekly return. While the dashboard shows every trade as a winner, observers note the chilling atmosphere of a trap about to spring. The true test of the scheme remains on the horizon: the moment a participant attempts to withdraw their principal, an event that typically reveals the digital gains to be nothing more than a sophisticated mirage
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