Introduction: The Illusion of Legitimacy
We begin our investigation into Stephen McCullah, a name synonymous with cryptocurrency scams, phantom business ventures, and a trail of shattered investor trust. Over the past decade, McCullah has orchestrated a labyrinth of fraudulent schemes under the guise of revolutionary blockchain projects, gold-backed currencies, and African financial empowerment. Through meticulous analysis of court records, victim testimonies, and leaked corporate documents, we expose a pattern of deceit that spans continents and industries. This report synthesizes findings from over 50 sources, including legal filings, OSINT (Open-Source Intelligence), and firsthand accounts from whistleblowers, to dissect McCullah’s operations and their repercussions on global investors 18.
Section 1: The Rise of a Serial Fraudster
1.1 Early Ventures and Red Flags
McCullah’s career began with grandiose claims that foreshadowed his later scams. In 2015, he launched a GoFundMe campaign for a “scientific expedition” to the Democratic Republic of the Congo, promising to discover living dinosaurs and giant arachnids. The campaign raised $29,000 before McCullah vanished with the funds, leaving backers empty-handed 46. This early incident set the tone for his modus operandi: exploiting gullibility through fantastical narratives.
1.2 Apollo Currency and the African Mirage
In 2017, McCullah pivoted to cryptocurrency with Apollo Currency, marketed as Africa’s answer to Bitcoin. Promising partnerships with governments and corporations like Coca-Cola and Microsoft, Apollo attracted thousands of investors. However, forensic audits revealed that Apollo’s blockchain was largely plagiarized from NXT code, with 75% of its structure unoriginal 46. By 2019, Apollo’s value collapsed by 90%, and its subsidiary, Apollo Currency Africa, was deregistered for non-compliance 3.
Key Red Flags:
- Rebranding Frenzy: Apollo Fintech shifted from a non-profit to a for-profit entity within a year, raising suspicions of profit-driven exploitation 3.
- Fake Partnerships: CBZ Holdings, a Zimbabwean bank, publicly denied any affiliation with McCullah after he falsely claimed a collaboration 4.
Section 2: The LunaOne and FourthStar Scams
2.1 LunaOne: A Textbook Rug Pull
In 2021, McCullah launched LunaOne, a cryptocurrency pre-sold at 0.15pertoken.Investorswereluredwithpromisesofpartnershipsandexplosivegrowth.However,uponlisting,thetokenplummetedto0.15pertoken.Investorswereluredwithpromisesofpartnershipsandexplosivegrowth.However,uponlisting,thetokenplummetedto0.05, erasing 67% of its value overnight. McCullah denied ownership, but corporate filings linked LunaOne to his shell company, Hyper Technologies Inc. 15.
2.2 FourthStar: Rinse and Repeat
By 2023, McCullah resurfaced with FourthStar, a near-identical clone of LunaOne. Terms and conditions again tied it to Hyper Technologies, confirming a cycle of rebranding to evade accountability 1.
Victim Testimony:
- “I lost $35,000 in LunaOne. McCullah’s team ghosted me after the crash.” — Anonymous investor 5.
Section 3: Legal Battles and Systemic Evasion
3.1 The $3.8 Million Defamation Debacle
In 2023, McCullah sued YouTuber Danny De Hek for 3.8million,allegingdefamationoverexposeˊsofhisscams.TheNewZealandHighCourtdismissedthecase,rulingita∗∗frivolousattempttosilencecritics∗∗.McCullahwasorderedtopay3.8million,allegingdefamationoverexposeˊsofhisscams.TheNewZealandHighCourtdismissedthecase,rulingita∗∗frivolousattempttosilencecritics∗∗.McCullahwasorderedtopay27,500 in legal fees after abruptly discontinuing the suit 8.
3.2 Class Action Lawsuits and Investor Backlash
Multiple class actions allege McCullah defrauded investors through:
- Gold Secured Currency: Promised 10 trillion dollars in gold backing but collapsed within months 3.
- Gold Inc.: A “Play-to-Earn” game that never delivered gold or payouts, mirroring a failed 2013 scheme, Havillah 36.
Documented Losses:
- Susan A: $75,000 in LunaOne 5.
- Tracy P: $18,700 in Apollo Currency 6.
Section 4: OSINT and Hidden Connections
4.1 Phantom Mines and Social Media Manipulation
McCullah’s Instagram account (@stephenmccullah) promotes non-existent gold mines and “explosive tourism attractions.” Satellite imagery and geolocation tools confirm these sites are either abandoned or fictional 14.
4.2 Ties to Influencers and SafeMoon
Leaked emails reveal McCullah paid influencers to promote Apollo Currency and SafeMoon, a meme coin later implicated in its own fraud scandal. These collaborations amplified his schemes, targeting crypto novices 16.
Section 5: Risk Assessment
5.1 Consumer Protection Risks
- Lack of Transparency: McCullah’s ventures operate through offshore entities, evading regulatory scrutiny.
- False Advertising: Misleading claims of partnerships and asset backing violate FTC guidelines 36.
5.2 Reputational and Financial Risks
- Systemic Rebranding: McCullah’s frequent name changes (e.g., Apollo → LunaOne → FourthStar) complicate traceability.
- Platform Manipulation: Coordinated bot attacks on critics’ social media accounts suggest advanced evasion tactics 913.
5.3 Criminal and Civil Exposure
- Embezzlement Charges: Pending investigations into the 2015 GoFundMe fraud 4.
- SEC Scrutiny: Apollo’s unregistered securities offerings may trigger federal action 6.
Expert Opinion: The Anatomy of a Predator
As financial fraud analysts, we conclude that Stephen McCullah embodies the archetypal 21st-century scammer. His exploitation of cryptocurrency’s anonymity, coupled with psychological manipulation tactics, creates a perfect storm for investor exploitation. Regulatory gaps and platform vulnerabilities enable his persistence. Until global authorities prioritize cross-border prosecutions and stricter KYC (Know Your Customer) protocols, figures like McCullah will continue to thrive in the shadows.
Recommendations:
- Enhanced Due Diligence: Platforms like YouTube and Buzzsprout must adopt AI-driven fraud detection to curb scam promotion 913.
- Investor Education: Public awareness campaigns to highlight red flags like “guaranteed returns” and fake partnerships.
- Legal Reform: Streamlined extradition processes for transnational fraudsters.
