DANNY DE HEKLet’s be absolutely clear — Glory Assurance International Limited is not a legitimate insurance company. It’s a calculated scam operation masquerading as a digital asset protection firm.

Promising bogus blockchain insurance and enticing passive income, this scheme preys on financially vulnerable victims, particularly in Southeast Asia. And now, thanks to new whistleblower information, we can see the entire fraudulent picture — from fake executives to a fake business model.

As The Crypto Ponzi Scheme Avenger, I’ve seen plenty of digital frauds. But few have put on such an elaborate front as Glory Assurance. Let’s pull back the curtain on this digital illusion.

The Human Cost: A Victim Speaks

One brave individual from the Philippines shared her story with me — a story that exposes just how heartless and manipulative this scheme truly is:

“I invested $18,000 USD into Glory Assurance’s gaming platform, hoping to supplement my medical funds and provide for my three children. When the site went down and VPNs were required, they rolled out a peer-to-peer withdrawal system — forcing us to recruit others just to get our own money back. I’ve been told I could be sued for sharing videos about Paul Albertus. I can’t sleep. I’m at breaking point.”

This is not just another crypto scam — this is a desperate money grab targeting real people with real needs, and the perpetrators must be exposed.

The Promoters: Paul Albertus and Joseph Tran

Paul Albertus is a familiar face in the crypto scam world. Known for promoting Trage Technologies — an MLM scam that collapsed — he’s now re-emerged as a key pusher of Glory Assurance. He’s hosted Zoom meetings, recruited victims, and continues to sell the illusion of financial freedom through this fraudulent enterprise.

Joseph Tran, another veteran of Trage Technologies, has also joined this latest operation. Despite his past attempt to distance himself from scams, he’s actively promoting Glory Assurance and helping draw in new victims. Both men operate with the same tactics we’ve seen a hundred times — fast talk, fake success stories, and outright deception.

These individuals are not just misguided marketers. They are repeat offenders in a pattern of financial exploitation, and their names need to be remembered.

The Alleged Leadership Team: Ghosts in Suits

According to the website, the company is led by Lucas Karlson Tan (CEO) and Jacky Liu (COO). But try to find a LinkedIn profile. A business registration. A press release. Anything. You’ll find nothing. They do not exist in any verifiable way.

Joining them in this fictional executive suite are Albert Harrison (CFO), Tony Hawkins (CTO), James C. (Asia Ops CEO), and Kimberly Beck (PR Director) — a list of names that appear nowhere else in the global insurance or blockchain space.

These are likely fabricated identities — created to give the illusion of corporate legitimacy. There are no public interviews, no industry conference appearances, and no regulation filings under these names. Just slick bios and zero evidence.

The Illusion of Insurance: 57 Red Flags

Glory Assurance advertises tailored protection for DeFi, gaming, staking, and liquidity pools — but these services do not exist. Let’s break down the 57 red flags that prove this is a Ponzi scheme dressed as an insurance company:

  • They have no verified executives and no regulatory licenses in any country.
  • They are based in Seychelles — a common offshore haven for shady operations.
  • Their websites were registered privately on the same day, February 2, 2024.
  • Source code in Chinese reveals connections to known scam factories.
  • They offer no actual downloadable policies, terms, or insurance contracts.
  • Every single revenue stream is tied to investor recruitment and fake packages.
  • They advertise daily ROI from clicking a button — a known Ponzi tactic.
  • Their roadmap includes ridiculous promises like a future IPO and metaverse integration with no supporting documentation.
  • The website uses virtual office addresses and generic stock images.
  • There are no testimonials, no audits, and no verifiable payouts.
  • When things started collapsing, they forced users onto VPNs and then switched to P2P withdrawals — requiring victims to scam new victims just to get their money back.
  • They boast 20,000+ clients but have under 40 social media followers.
  • All social media engagement is fake or non-existent — just staged marketing.
  • Victims are being threatened with cyber libel just for speaking out.
  • No legal filings have been made despite accepting money from the public.
  • They’ve borrowed structures from already collapsed Ponzi apps like RainbowEx and GXness.
  • And worst of all — not a single user has confirmed a real withdrawal since April 2025.

In total, there are 57 well-documented reasons why Glory Assurance cannot be trusted.

Conclusion: A Scam in Full View

Glory Assurance International Limited is a high-conviction fraud, dressed up in buzzwords and blockchain lingo. It exists to funnel money upward through referral schemes, while dangling fake products, fake executives, and fake operations in front of desperate investors.

Victims are waking up. Withdrawals are frozen. Threats are being made. The Ponzi is unraveling.

To those considering investing — don’t.

To those already affected — speak up. Share your stories. Report what you can.

And to those running this charade: we see you.

— Danny de Hek, The Crypto Ponzi Scheme Avenger

About the Author Danny de Hek, also known as The Crypto Ponzi Scheme Avenger, is a New Zealand-based investigative journalist specializing in exposing crypto fraud, Ponzi schemes, and MLM scams. His work has been featured by Bloomberg, The New York Times, The Guardian Australia, ABC News Australia, and other international outlets.

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