League of Seagull

The independent record is uniformly negative and comes from official regulators, not opinion sites. The Philippine SEC issued public advisories on February 12, 2026 (via its Laoag and Zamboanga extension offices) stating the entity was not registered and lacked the secondary license required to sell securities, and warning that promoters and recruiters face penalties of up to PHP 5 million and/or up to 21 years imprisonment under Section 73 of the Securities Regulation Code [web:bitpinas.com][web:pna.gov.ph]. On May 14, 2026, the SEC's Enforcement and Investor Protection Department issued a cease-and-desist order naming Riscoin, Riscoin Exchange, Riscoin Trading, League of Seagull Ltd, and Seagull Alliance, finding an unregistered investment contract with Ponzi-scheme characteristics and freezing assets to protect the investing public [web:business.inquirer.net][web:bitpinas.com].

New Zealand's Financial Markets Authority added RisCoin/'League of Seagulls' to its warnings around November 2025, describing a fraudulent 'click a button' app scheme tied to the TXEX network that impersonates banks and licensed providers [web:fma.govt.nz]. The related UK shell, Seagull Alliance Ltd, was dissolved in October 2025 [web:company-information.service.gov.uk]. The individuals named above are identified by the SEC in its filings; they are named as operatives in the regulator's order and have not been described here as adjudicated criminals. Taken together, the regulatory findings place this opportunity at high risk.

League of Seagull is the corporate name (League of Seagull Ltd) behind a cryptocurrency 'copy-trading' investment and recruitment scheme most commonly promoted as Riscoin and under the Seagull Alliance brand. The pitch to the public is passive income: deposit cryptocurrency, let a 'crypto manager' copy-trade on your behalf, and collect large compounding daily returns — while earning additional rewards for bringing in new members.

The operation presents a U.S. corporate face. League of Seagull Ltd is registered with the Colorado Secretary of State (Entity ID 20241936415, articles filed September 3, 2024), with Ernest Dewey May Jr. named as amended registered agent, and it claims a Denver headquarters [web:bitpinas.com]. A related UK company, Seagull Alliance Ltd (company number 15851396), was incorporated in Cardiff on July 22, 2024 and dissolved on October 28, 2025 [web:company-information.service.gov.uk]. Despite these registrations, the marketing, recruitment, and enforcement activity have centered on the Philippines and New Zealand/Southeast Asia, and the true operating base is not publicly documented. The company's marketing claim of USD 10 million in registered capital is not independently corroborated and should be treated as an unverified self-claim.

The scheme's official domains (v-seagull.cc and v-seagull.com) are recent — v-seagull.cc was registered on May 6, 2025 through Namecheap behind a privacy service — and were unreachable during research.

The reported minimum to participate is about USD 500 (~PHP 30,000) paid in cryptocurrency [web:bitpinas.com]. Beyond the initial buy-in, the model relies on continued deposits and on recruiting additional investors to sustain payouts. Any ongoing monthly commitment is not publicly documented. Because the Philippine SEC has frozen related assets and issued a cease-and-desist order, and because the official websites were unreachable during research, funds placed into the scheme are at serious risk of being unrecoverable [web:business.inquirer.net].