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The collapse of the LS Team / KBS Exchange scheme has left possibly thousands of Filipino investors with nothing but frozen accounts and broken promises. As the scheme’s operators migrate to a new platform called “AUX Exchange” in what appears to be a final “exit scam,” the real-world consequences for its victims are becoming devastatingly clear.
In exclusive reports sent to BitPinas, victims shared their stories of financial ruin, the aggressive tactics of their recruiters, and the cold dismissal they received when begging for their own money.
Read our earlier reports:
The Life Savings Gamble: “Where Do I Get Money for My Baby’s Milk?”
For many victims, the money trapped in KBS was their lifeline.
One victim, who identified herself as a new mother, shared her desperation in a community chat. After investing her savings based on promises of high returns, she was left unable to provide basic necessities for her child.
“Paano ‘to, may baby pa ako. Saan ako kukuha ng pambili ng gatas?” she pleaded in a message to her recruiter. (How is this? I have a baby. Where will I get money to buy milk?)
Like many others, her pleas were ignored as the group’s leaders, including mentors named Alice and Jason, shifted their focus to promoting the new “AUX” platform.
The Debt Trap: Borrowed Money and Broken Promises
A common tactic used by the LS Team was to pressure members into borrowing money to increase their investment, promising that the returns would easily cover the loans.
One victim shared a screenshot of their conversation with an analyst, explaining that they had borrowed a significant sum and were now facing high-interest repayments.
“Ma’am, I borrowed money from a lending app just to invest here because I trusted your signal. Now it’s due, and I can’t withdraw. The interest is piling up,” the user wrote.
The analyst’s response was a generic copy-paste message about ongoing “system audits,” offering no timeline for relief.
The Hostility: “That’s Your Business”
Perhaps the most shocking aspect of the collapse is the sudden change in demeanor of the so-called “mentors.” Once friendly and encouraging, they became cold and dismissive as soon as the money stopped flowing.
In a particularly cruel exchange viewed by BitPinas, a user tried to explain the urgency of their situation to an analyst.
Victim: “But bills can’t be patient ma’am.”
Analyst: “That’s your business.”
The Empty ‘Migration’
Many victims expressed confusion and anger over the sudden “migration” to the new AUX Exchange.
One user, who has ₱100,000 trapped in five different accounts, told BitPinas they no longer trust the team leaders who are now claiming to be preparing a legal case with the NBI.
“I am one of the LS KBS victims. We invested 100k with 5 accounts… I don’t trust them anymore. I need to do something to stop this because behind this, I know that this is a big syndicate,” the victim wrote.
Another user reported that the new “analyst” named Anne tried to recruit them into the new “RH Team” on the condition of secrecy, even after admitting the previous team had a “shortage of funds”.
What to Do if You are a Victim of This Scam
If you are a victim, do not deposit more money. Collect all screenshots of your conversations, deposit slips, and wallet addresses. You can file a complaint with the SEC Enforcement and Investor Protection Department (EIPD) at [email protected] or the NBI Cybercrime Division. (Read more: What to Do If You Are a Victim of Crypto Scams Like LS KBS / AUX Exchange)
This article is published on BitPinas: ₱100K Gone, Baby Without Milk: Victims Slam Ruthless Mentors in LS KBS-AUX Crypto Exit Scam
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