By Roy Denish.
Infinity Rover scam has been banned by Sri Lanka’s Central Bank after investigators found an illegal pyramid scheme targeting local investors.
The Infinity Rover scam has been officially banned by the Central Bank of Sri Lanka after investigators found that the cryptocurrency trading platform operated as an illegal pyramid scheme.
The bank’s Financial Consumer Relations Department announced that Infinity Rover (Pvt) Ltd. has now joined its official list of 25 prohibited financial operations. Regulators warned that anyone who initiates, promotes, finances, or manages the platform could face serious criminal penalties under Sri Lanka’s banking laws.
Following the crackdown, the company’s website, previously available at infinityrover.com, has been torn down. Its digital operations have also been shut after the regulatory action.
Infinity Rover Scam Added To Central Bank Blacklist
Infinity Rover targeted local investors through a digital application and an address listed on Old Kottawa Road in Kottawa, Sri Lanka. The company presented itself as a large global cryptocurrency trading network that offered spot, margin, and futures trading.
It also claimed to operate as a diversified group of companies involved in plantations, renewable energy, education, and travel. However, Central Bank investigators found that this corporate image served as a facade. According to regulators, the structure helped draw local capital away from the standard banking system.
The Central Bank has not released an exact number of people who lost money to Infinity Rover. However, officials noted that thousands of Sri Lankans routinely fall into similar digital traps.
Infinity Rover is the 25th entity added to the official blacklist. That list already includes high-profile operations such as MTFE and OnmaxDT. Economic pressure and inflation have made vulnerable citizens easy targets, especially those trying to protect their savings.
Fake Earnings, Starter Packages And Recruit Pressure
According to regulatory findings, the platform pushed new users into variable registration options instead of one flat fee. To activate an account, participants had to pay an upfront registration fee or buy a mandatory cryptocurrency starter package.
These starter kits came at different price levels. Promoters could therefore adjust the buy-in amount depending on the victim’s financial capacity. Higher-priced packages falsely promised larger passive returns and faster commission levels from future recruits.
Once users entered the system, mobile applications showed artificially generated earnings dashboards. These fake displays convinced users that their initial investments were growing.
To withdraw funds or recover their first investment, users faced pressure through tiered commission incentives. They were urged to recruit family members, friends, and colleagues. Promoters then pushed investors to pool cash through mobile wallets or convert local rupees into decentralized cryptocurrencies.
Those funds were routed into untraceable offshore accounts before the structure collapsed.
WhatsApp And Telegram Used To Hide The Trail
Promoters relied heavily on WhatsApp and Telegram to coordinate the networks and avoid regulatory tracking. The Central Bank’s Financial Intelligence Unit flagged these encrypted applications as the main tools used to build closed, invite-only groups.
Access to these groups was restricted. Promoters used that control to vet new recruits and suppress criticism. Operators also used disappearing messages and chat-wiping features to destroy training modules and transaction evidence when scrutiny increased.
The masterminds behind the platform hid their identities behind encrypted profiles and pseudonyms. As a result, victims struggled to identify who controlled the operation.
While Infinity Rover disguised itself as a multi-level marketing business or a work-from-home opportunity, the Central Bank clearly ruled it an illegal pyramid scheme. In a legitimate multi-level marketing business, participants earn commissions mainly through selling real products or services to end consumers.
Infinity Rover, by contrast, had no genuine commercial activity or asset appreciation. It operated on a continuous loop of new money, where early participants received payments from funds paid by newer recruits.
The Central Bank and local law enforcement authorities have handed the findings to criminal investigation divisions. Investigators will now trace banking records and identify the final beneficiaries of the funnelled capital.
Under Section 83 (C) of the Sri Lankan Banking Act, initiating, promoting, financing, or managing such a scheme carries a penalty of up to three to five years of rigorous imprisonment and heavy fines.
