RCO Finance Scam: How the $36M Crypto Presale Ended with a 99% Token Crash on BitMart

Tens of thousands participated in the RCO Finance presale, which raised over $36 million for the RCOF token over a 17-month-long presale. The idea of a decentralized AI-powered trading platform in crypto and traditional finance was appealing to many. The team showcased a well-designed website, a detailed whitepaper, and a roadmap that promised a powerful set of features, from zero-gas trading to real-time AI portfolio advisors.

But behind the polished presentation and technical jargon, cracks in the project’s credibility appeared early. It wasn't long after the RCO Finance presale began in May 2024 that suspicions arose among community members. On various social media posts, investors shared their suspicions. However, this didn't stop the project from raising increasing amounts of funds through alleged platform releases, partnerships, and other claims.

The RCOF token's long journey from inception to launch ended awfully for investors. After a few delays, the digital token launched on BitMart and, in 30 minutes, dropped by 99%.

But how can anyone tell this was a 17-month scam and not just a project that failed to execute? The signs were there from the start; let's take a look.

Unproven Partnerships with Hyperliquid, Interactive Brokers, and Alpaca Markets

Let's start with the RCO Finance whitepaper. According to it:

“At the core of RCO Finance lies our strategic partnership with Hyperliquid.”

The project claimed this partnership would enable gasless high-frequency trading, supported by Hyperliquid’s infrastructure. However, there was no confirmation from Hyperliquid, and the protocol itself never made any technical documentation, announcement, or public reference to RCO Finance. Despite the centrality of this partnership claim, it remained completely unverified.

RCO Finance whitepaper section describing a claimed partnership and integration with Hyperliquid. Source: RCO Finance whitepaper

RCO Finance also promoted planned integrations with Interactive Brokers and Alpaca Markets, stating that these would allow users to trade over 120,000 traditional assets, such as stocks and commodities, using crypto collateral. Yet again, no proof or evidence of these partnerships was ever provided. Both companies offer open APIs, but there’s a difference between using a public API and forming a strategic partnership.

In RCO Finance’s case, the claims appear to be entirely self-declared, with no backing from the named parties. And the partnerships weren’t the only unverified claims. Even RCO Finance’s supposed regulatory efforts failed to hold up under scrutiny.

Missed Crypto License Deadline and Regulatory Red Flags

The RCO Finance whitepaper also claimed that the project planned to acquire an existing brokerage crypto license by August 2024, as shown in its FAQ section:

However, RCO Finance did not meet this self-declared licensing deadline and provided no official statement, documentation, or explanation afterward. The absence of any public filings or licenses casts serious doubt on the project’s claimed ability to offer securities, ETFs, and equities trading via crypto collateral.

For a project claiming to operate a TradFi-DeFi hybrid platform, the lack of regulatory compliance or even attempts at it is a significant warning sign. To date, there is no record of any regulatory oversight, license acquisition, or registered business entity connected to RCO Finance in any known jurisdiction.

Fake Product Launch and Nonexistent RCO Finance Platform

At the beginning of 2025, RCO Finance announced it had launched a beta version of its trading platform, featuring capabilities such as AI-driven portfolio management and cross-market execution. Later, it also claimed that the beta had attracted over 285,000 users.

However, the so-called beta platform never functioned as advertised. The version made available was limited to a static demo environment with no real asset interaction, no smart contract logic, and no connection to any brokerage system or AI engine. It offered no real trading interface or ability to connect wallets.

Eventually, the platform was taken offline entirely. There was no user feedback, no walkthroughs, no community screenshots, and not a single independent user has publicly reviewed or acknowledged using the platform. This absence of any visible product usage strongly suggests the beta was fabricated or significantly misrepresented.

RCO Finance Censorship: Investors Silenced in Telegram Group

Numerous investors who asked critical questions in RCO Finance’s official Telegram group reported being instantly banned or having their messages deleted. Even simple queries such as “Is there some media available to see what your platform looks like?” or “Why did they decide to do it this way?” were met with silence or removal.

The moderators maintained a strict no-dissent policy, ensuring that the group feed appeared clean and enthusiastic. This deletion of community feedback made it difficult for newcomers to assess the level of concern and created an illusion of confidence in the project. The aggressive censorship approach mirrors what is commonly observed in fraudulent presale schemes, where transparency would jeopardize continued funding.

Team Doxxing Promised and Never Delivered

In May 2025, RCO Finance announced that it would fully reveal its team, including a former Microsoft board member who had allegedly joined the project. A “power team” graphic was teased on Instagram, promising high-level transparency.

RCO Finance post announcing a former Microsoft board member. Source: RCO Finance Instagram account

Over the following months, the project’s social media accounts amplified this narrative.
In July, the official RCO Finance X (Twitter) account posted:

A similar post appeared on Instagram on August 5, directing users to rcofinance.com with the same headline and promotional language. The post claimed:

Instagram August post promoting a fake CEO reveal. Source: RCO Finance Instagram account

Both posts featured images showing two screenshots from what was described as a CEO video reveal. However, no such video currently exists on the project’s website or social media pages, and no archived version has been verified. If a video did exist at the time, it was likely a fabricated or staged production intended to bolster credibility rather than provide genuine transparency.

Despite repeated claims and “reveal” promotions, no team member has ever been publicly identified or verified. The website still lacks a team section, and no LinkedIn profiles or biographies have been disclosed.

Fake Big Tech Backers: Misleading Claims in the RCOF Presale

In an August 2025 press release, RCO Finance claimed:

“One of the Big Tech giants that previously invested in the early stages of ChatGPT has now joined RCO Finance’s backers, signaling strategic interest in the platform’s unique approach to AI-driven investment solutions.”

This statement strongly implied that companies like Microsoft or Google Ventures had invested in the project. However, no evidence was ever presented, no investor names were disclosed, and no corporate communications were published to support the claim.

To date, no known venture capital firm or tech corporation has acknowledged any connection to RCO Finance. This appears to be another baseless attempt to build perceived legitimacy among retail investors.

Press release claim suggesting a Big Tech investor joined RCO Finance. Source: XT

Catastrophic BitMart Launch and Inadequate Liquidity Support

Despite claiming to have raised $36 million during its presale, RCO Finance provided almost no liquidity for its token when it listed on BitMart in October 2025. The token opened trading at close to its final presale price ($0.16) within 30 minutes, and collapsed by 99.5%, reaching as low as $0.00079.

The promised 12% token allocation for liquidity (roughly 135 million RCOF tokens) was clearly not deployed as expected. It took less than $20,000 to drop the RCOF token by 99% in less than an hour. To put this in perspective, less than $20,000 in selling pressure dropped a $36 million presale project by over 99%. At the time of writing, the RCOF token is trading at $0.00217, representing a 98.7% drop from the final presale price.

RCOF token 99% price crash chart on BitMart exchange. Source: BitMart

This launch pattern follows a known tactic used by scam projects: launch with minimal liquidity, declare a listing to fulfill obligations, and exit without providing investors with a viable way to sell their tokens. Even on Uniswap, where RCOF was also technically listed, trading activity remained almost nonexistent, further indicating that the team made no effort to support a real market.

RCO Finance Presale: Pattern of Broken Promises and False Milestones

Below is a summary of key claims made by RCO Finance versus the actual outcomes:

These weren’t the only problems surrounding RCO Finance. Several other inconsistencies, questionable claims, and community complaints were reported throughout the presale, but the key issues outlined here highlight the broader pattern.

Final Thoughts: RCO Finance Raised Millions and Delivered Nothing

The RCO Finance presale spanned nearly a year and a half, during which the project attracted millions in presale fundraising based on unverifiable partnerships, fabricated user statistics, and repeatedly broken promises. It claimed to offer a groundbreaking AI-powered DeFi experience but never produced a functional product.

The RCOF Token launched with virtually no liquidity, immediately collapsed in value, and left investors unable to claim or sell their tokens. No meaningful development has been observed since the listing. The project's official channels continue to operate with minimal engagement and no technical transparency.

While some crypto projects do fail due to poor execution or market conditions, RCO Finance shows a consistent pattern of deception, from its anonymous team and unverifiable achievements to its aggressive marketing and suppression of dissent. The evidence suggests this was a coordinated fundraising operation with no intent to deliver a real product.