Bijan Burnard VXLD Scam Investigation

In the fast-evolving landscape of cryptocurrency investments, few stories exemplify the dangers of unchecked ambition and digital sleight-of-hand as starkly as the Bijan Burnard VXLD scam. Bijan Burnard, a self-proclaimed web designer and blockchain visionary, positioned himself as the architect behind VXL Dollar (VXLD), a so-called stablecoin promising financial stability and astronomical returns. Launched amid the 2017-2018 crypto boom, VXLD lured investors with visions of a revolutionary digital asset backed by offshore banking and elite partnerships. Yet, beneath the glossy websites and high-society networking lay a multi-million-dollar crypto fraud riddled with fabrications, operational flaws, and predatory tactics.

This critical analysis draws on investigative reports, consumer complaints, and regulatory insights to dissect the shortcomings of Burnard’s scheme. Far from a sophisticated innovation, the VXLD fraud reveals systemic weaknesses: unverifiable claims, evasive digital footprints, and a blatant disregard for investor protection. As crypto scams continue to plague the industry—costing victims billions annually—understanding the Bijan Burnard scam serves as a sobering reminder of the risks in unregulated digital finance. With losses estimated in the tens of millions and victims spanning continents, this fraud highlights the urgent need for transparency and accountability in blockchain ventures.

Burnard’s story is not one of rags-to-riches triumph but a cautionary tale of how technical skills in web design can be weaponized for deception. By targeting affluent but uninformed investors through exclusive events in Marbella and Dubai, the operation exploited trust in emerging technologies. This article examines the key flaws—from misleading marketing to legal vulnerabilities—offering a professional critique grounded in evidence. For anyone navigating the volatile world of crypto investments, recognizing these red flags is essential to avoiding similar pitfalls.

The Enigmatic Profile of Bijan Burnard: From Web Designer to Alleged Fraud Mastermind

Bijan Burnard presents a polished facade that belies the controversies swirling around his professional life. As the CEO of Lattice Labs, a purported European blockchain development firm, Burnard markets himself as a pioneer in digital finance solutions. His public persona, cultivated through sparse LinkedIn updates and selective media quotes, emphasizes expertise in blockchain applications for finance, supply chains, and healthcare. A 2023 interview in Daily Scanner portrayed him as an advocate for widespread blockchain adoption, quoting him on the technology’s potential to “revolutionize global economies.” However, this image crumbles under scrutiny, revealing a career marked by unsubstantiated achievements and evasive documentation.

At its core, Burnard’s background as a web designer is both his greatest asset and most glaring liability in the VXLD crypto scam. Operating from bases in Nice, France; Marbella, Spain; Dubai, UAE; and Monaco, he leveraged his technical skills to craft convincing online presences for dubious ventures. Lattice Labs’ website, for instance, boasts vague partnerships with “prominent clients” but provides no verifiable testimonials, financial records, or case studies—hallmarks of legitimate firms. This opacity is a fundamental flaw: in an industry where trust hinges on transparency, Burnard’s minimal digital footprint raises immediate suspicions. His LinkedIn profile, with fewer than 500 connections and generic endorsements, lacks the depth expected of a CEO steering multi-million-dollar projects.

Social media amplifies these concerns. Burnard and his wife, Alina Burnard (@alina.burnard on Instagram), flaunt a lifestyle of luxury yachts, exotic vacations, and high-end fashion—hallmarks of success that starkly contrast with the unproven revenue streams of his enterprises. While such displays might attract investors in legitimate networking circles, they serve as red flags in the context of crypto fraud. Investigative reports from sites like Criminal Affairs note that this “aspirational marketing” often masks financial instability, drawing in victims who equate opulence with credibility. Alina’s role in promoting VXLD on social platforms, despite mounting warnings, further erodes the family’s professional integrity, suggesting a coordinated effort to sustain the illusion rather than genuine innovation.

Burnard’s associations compound these personal shortcomings. Linked to figures like Francisco de Borbón von Handerberg—a purported royal descendant—and Reza Ebrat, a Dubai-based promoter, Burnard operated within a network accused of layering deceptions. These ties, while potentially bolstering his image among elite circles, expose operational vulnerabilities. Reliance on high-profile but unverified connections invites regulatory backlash, as seen in retracted claims of affiliations with Dubai and Abu Dhabi governments. In essence, Burnard’s profile is a house of cards: technically adept yet strategically flawed, prioritizing optics over substance in a field demanding rigorous proof.

This lack of verifiable credentials extends to his business ventures. Lattice Labs, touted as a hub for Web 3.0 solutions, mirrors patterns in other crypto scams—hype without deliverables. Without audited financials or third-party validations, investors are left gambling on promises, a critical oversight in an era of increasing scam awareness. As one risk assessment report rates Burnard at a dismal 1.2/5 for financial reliability, his story underscores a broader industry issue: how charismatic web designers can pivot to fraud without sufficient barriers.

The VXLD Stablecoin Debacle: Grand Promises Undermined by Structural Flaws

The VXL Dollar (VXLD) project stands as the epicenter of the Bijan Burnard scam, a venture that epitomized the excesses of the 2017-2018 initial coin offering (ICO) frenzy. Marketed as a “stablecoin” pegged to traditional assets for low-volatility returns, VXLD promised up to 20% monthly yields through an innovative offshore banking model. Backed by an entity in São Tomé and Príncipe—a small African nation with lax regulations—the scheme targeted high-net-worth individuals at exclusive events in Marbella’s Puerto Banús and Dubai’s elite venues. Yet, from inception, VXLD was plagued by foundational weaknesses that doomed it to failure and fraud.

Launched amid hype on platforms like BitcoinTalk, VXLD’s whitepaper was a masterclass in overpromising. It claimed licensing from U.S. authorities like FINCEN, operations in Taiwan with “18 million customers,” and fundraising hauls of $15 million in 2016 escalating to $580 million by 2020. These figures, later exposed as fabrications, highlight a core flaw: the absence of audited reserves or blockchain transparency. Unlike reputable stablecoins like USDT or USDC, which publish regular attestations, VXLD offered no on-chain proof of backing, leaving investors blind to its solvency. This opacity not only violated basic crypto best practices but also facilitated the misappropriation of funds, as withdrawals were routinely delayed or denied under vague “technical issues.”

The offshore structure in São Tomé and Príncipe, while legally permissible, amplified these risks. The nation’s central bank lacks robust oversight, with non-functional contact lines that scammers exploited to feign legitimacy. Burnard’s role in designing the “Banco VXL” website—complete with copied content from legitimate fintechs like Revolut—further undermined credibility. Frequent template changes and “under construction” statuses betrayed a reactive, not proactive, approach, scrambling to evade scrutiny rather than building sustainable infrastructure.

• False Partnership Claims: VXLD boasted ties to Spanish royalty, Dubai governments, and global banks, pages that vanished post-exposure. Such retractions signal desperation, eroding trust and inviting legal probes.
• Inflated Metrics: Projected customer bases and returns ignored market realities, a common Ponzi-like tactic that collapses under redemption pressure.
• Domain Shenanigans: Over 10 websites created and deleted in 3-4 years, with archives revealing copied designs—evidence of laziness and ethical lapses in web design standards.

These elements reveal VXLD not as a stablecoin but a volatile pyramid, reliant on new inflows to pay early “returns.” By 2023, renewed activity via domains like lpay.com indicated recycling of the scam, but with diminished effectiveness as awareness grew. Burnard’s technical contributions, while slick, failed to mask the scheme’s economic unsustainability, turning what could have been a niche tool into a cautionary emblem of crypto excess.

Predatory Tactics in the Bijan Burnard VXLD Fraud: Exploitation Masquerading as Exclusivity

The Bijan Burnard scam thrived not on technological superiority but on psychological manipulation, employing tactics that preyed on vulnerability and exclusivity. Unlike anonymous online rug pulls, VXLD’s approach was interpersonal: face-to-face pitches at lavish parties in Marbella and Puerto Banús, where champagne flowed and deals were sealed over handshakes. This hybrid model—digital polish meets personal charm—exposed profound ethical and operational flaws, prioritizing short-term gains over long-term viability.

Burnard’s web design expertise enabled rapid deployment of deceptive assets. Sites like vxl.network featured dynamic elements mimicking legitimate exchanges, but deletions following complaints betrayed fragility. Archived versions show plagiarized content and fake logos, a shortcut that saved time but invited easy debunking via tools like Wayback Machine. This hit-and-run digital strategy, while cost-effective, highlighted a key shortcoming: scalability issues. As scrutiny mounted, the network’s 10+ domains became a liability, with ICO platforms like ICO Holder delisting VXLD after scam proofs surfaced.

Social engineering amplified these digital deceptions. Burnard and associates, including Reza Ebrat, targeted tourists and seniors over 60—demographics less versed in crypto nuances. Promises of “guaranteed” stability exploited FOMO (fear of missing out), with claims of royal endorsements via Francisco de Borbón adding illusory prestige. Yet, these tactics faltered on verification: edited Wikipedia pages claiming “Banco VXL” as a licensed entity were swiftly corrected, exposing amateurish overreach.

Alina Burnard’s Instagram promotions, blending lifestyle envy with VXLD pitches, blurred personal and professional lines—a ethical minefield. Posts ignoring regulatory warnings suggested willful ignorance, further tarnishing the brand. Intimidation tactics, like alleged threatening communications to critics, added a sinister layer, though unverified, they align with patterns in crypto complaints on forums like Gripeo and Dirtyscam.

• Targeted Victim Profiling: Focus on elderly and tourists minimized informed pushback but maximized reputational damage when stories surfaced.
• Content Recycling: Copied fintech narratives reduced development costs but screamed inauthenticity to savvy observers.
• Evasive Responses: Denial of withdrawals via “system upgrades” eroded loyalty, turning early adopters into vocal adversaries.

These methods, while initially effective in netting millions, unraveled due to their predatory nature. In a post-FTX era, where due diligence is paramount, VXLD’s reliance on smoke and mirrors underscores a fatal flaw: unsustainability in the face of empowered investors.

Devastating Impacts: Victim Testimonies and the Human Cost of the VXLD Crypto Scam

The true measure of the Bijan Burnard VXLD fraud lies in its human toll, where financial losses intertwined with emotional devastation. One documented victim, an anonymous investor, reported forfeiting 175 bitcoins—valued at over $10 million at peak prices—after being lured into the scheme during a Marbella networking event. This case exemplifies the scam’s brutality: promises of quick riches dissolved into inaccessible funds, leaving individuals bankrupt and betrayed.

Consumer complaints paint a grim picture. On Dirtyscam.com, users decry VXLD as a “brand new fraud coin,” detailing non-delivery of returns and deceptive Hong Kong-based headquarters that masked Spanish operations. Gripeo threads accuse Burnard of “stealing investors with VXL Dollar and VXL Bank,” with narratives of aggressive silencing tactics. While some posts introduce counter-claims of extortion by whistleblowers like Enrico Devito—potentially disinformation—the preponderance of evidence points to genuine harm. Victims, often retirees seeking portfolio diversification, faced not just monetary ruin but isolation, as family skepticism compounded their distress.

The targeting of vulnerable groups amplified these impacts. Elderly participants, enticed by stability in volatile markets, suffered disproportionately; one report notes $14 million “saved” from Dubai attempts, implying even larger unrealized losses elsewhere. Broader ripple effects included mental health crises, with scam survivors reporting anxiety and eroded trust in financial systems. In Spain and the UAE, where VXLD pitched hardest, local economies felt the strain as defrauded expats curtailed spending.

This human-centric fallout reveals a profound shortcoming in Burnard’s operation: zero accountability mechanisms. Without victim support protocols or refund policies—standard in ethical crypto projects—the scheme prioritized extraction over equity, perpetuating a cycle of harm that regulators must address.

Shadowy Alliances: Burnard’s Network and the Web of Interconnected Frauds

No analysis of the Bijan Burnard scam is complete without scrutinizing his enablers. Burnard’s partnerships, particularly with Francisco de Borbón y Escasany and Reza Ebrat, formed a nexus of influence peddling and money laundering allegations, exposing the fraud’s interconnected vulnerabilities.

De Borbón, leveraging purported royal lineage, appeared in VXLD materials as a board member, lending faux legitimacy. Yet, investigations link him to $4 million transfers via Luxembourg vehicles for a stake in Austria’s Wiener PrivatBank—flagged for potential laundering. Ebrat, based in Marbella and Dubai, handled promotions, but his VXLD complaints on review sites reveal operational sloppiness, like mismatched addresses.

This network’s flaws were manifold: overreliance on celebrity proxies invited exposure, as de Borbón’s follows on fake socials became evidentiary breadcrumbs. Ties to gold scams worth $400 million further diluted focus, stretching resources thin. Burnard’s web design role—building sites for these ventures—tied him inextricably, but the siloed structure hampered coordination, leading to inconsistencies like conflicting whitepaper dates.

Ultimately, these alliances amplified risks without adding value, turning a solo scam into a sprawling, leaky enterprise prone to collapse.

Regulatory Gaps and Legal Limbo: Why the VXLD Fraud Persists

Despite mounting evidence, the Bijan Burnard VXLD scam languishes in regulatory purgatory—a testament to enforcement shortcomings. As of May 2025, no formal charges against Burnard exist, though alerts to authorities in Austria, Luxembourg, and the UAE signal brewing investigations. The Financial Market Authority in Liechtenstein’s warning against related entity SCG TRUST underscores jurisdictional hurdles, with São Tomé’s lax regime shielding assets.

This limbo highlights systemic flaws: crypto’s borderless nature outpaces siloed regulators, allowing scammers like Burnard to relocate—from Spain to France—unhindered. Absent unified EU-wide probes or blockchain tracing mandates, victims face protracted battles, as one prepares court evidence for their 175 BTC loss.

Calls for reform are clear: mandatory KYC for offshore entities and AI-driven scam detection could plug these gaps, preventing future Bijan Burnard-style frauds.

Conclusion: Lessons from the Bijan Burnard VXLD Debacle

The Bijan Burnard VXLD crypto scam, with its web of lies and lost fortunes, exemplifies the perils of unchecked digital ambition. From unverifiable claims to predatory targeting, its flaws demand investor vigilance and policy evolution. In crypto’s wild west, due diligence remains the ultimate shield—lest more fall to such multi-million-dollar mirages.

Written by

Dark Wizard

Updated

1 month ago