Black Block uses counterfeit fish eyes to pass off as pearls—Black Rock can scam money too!

Coffeezilla, a crypto influencer, and journalist Danny teamed up to expose a Ponzi scheme run by Goliath Ventures. CEO Delgado used social media to project an image of a successful person, claiming that its private equity had asset collateral worth over 115% to the outside world. He even partnered with a short company, Black Block, deliberately impersonating the name of the well-known asset management firm Black Rock (贝莱德) to gain investors’ trust.

Social media carefully crafts a “successful” persona

Christopher Delgado frequently posts private jets, Rolls-Royces, luxury villas, and photos with celebrities on social media, meticulously packaging his personal image. Goliath Ventures did not advertise publicly and adopted a closed, word-of-mouth marketing approach. The company claims to be a private holding company that accepts only a small number of prestigious clients, creating a sense of “even if you have money, you may not be able to join.” This strategy successfully lowered many investors’ guard.

Fake liquidity mining returns roll in—then the investors buy it

Goliath Ventures claimed that investors’ funds were all put into Uniswap liquidity pools, promising monthly high returns of 3% to 5%, and even offered Hyper Compounding enhanced compounding schemes. However, blockchain data tracking shows that the actual amount the company put into the pool was only $20k, far from the tens of millions of dollars it claimed. The way Goliath Ventures operated was a classic Ponzi scheme—using new investors’ money to pay old investors’ interest. To bolster credibility, the company also claimed its assets were backed by 115% collateral, but after investigating, Coffeezilla found that all of these figures were fabricated.

Use Black Block to pass off “Black Rock”

To avoid external scrutiny, Goliath Ventures claimed that its finances were independently audited, and that the auditing firm it worked with was named Black Block. The firm’s name was deliberately chosen to resemble the globally known asset management firm BlackRock, using a similar branding name to confuse investors and cause many to mistakenly believe that Goliath had the approval of a top-tier institution. In reality, the head of the auditing firm, Matt Burks, was an accomplice and co-conspirator of Delgado. They targeted the large retirement market and induced older people, through relevant institutions, to withdraw funds from their 401k or individual retirement accounts (IRAs) for high-risk investments.

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