Polar Tensor Fraud: BCSC Warning and How to Recover (2026)

The BC Securities Commission issued a fraud warning against Polar Tensor on June 1, 2026. Victims report blocked withdrawals as the platform shows signs of collapse.

By DefendMe Editorial, Intelligence Team · 2026-06-02 · Hot News

How It Works

Polar Tensor was presented to recruits as an automated AI trading platform capable of generating consistent cryptocurrency profits. The scheme used a multi-level marketing (MLM) structure, rewarding participants not only for depositing funds but for recruiting new depositors into the network. This recruitment layer is a structural hallmark of Ponzi operations, where early participants are paid using capital from those who join later rather than from any legitimate trading activity.

The public face of Polar Tensor was a figure named "Felix Bick," described in promotional materials as the platform's founder. Open-source analysis indicates that "Felix Bick" was portrayed sometimes by a live actor and sometimes through an AI-generated avatar, raising serious questions about whether this individual exists at all. A US national named Bob Bearden has also been identified as a prominent presenter associated with the scheme, based on publicly available promotional content.

The Alberta Securities Commission (ASC) noted in its May 14, 2026 warning that victims of a separate collapsed scheme called BG Wealth Sharing were being actively funneled into Polar Tensor. This recruitment pipeline is consistent with organized Ponzi migration tactics, where operators of failed schemes redirect victims into new vehicles to extend the fraud lifecycle and capture remaining assets.

According to web traffic data from SimilarWeb reviewed for April 2026, the Polar Tensor website was receiving approximately 102,000 monthly visits. Germany accounted for roughly 98 percent of that traffic, with the United States contributing approximately 1 percent. This geographic concentration suggests a coordinated recruitment campaign targeting German-speaking communities in particular.

Red Flags. What Victims Reported

• BCSC issued a formal securities fraud warning on June 1, 2026, confirming Polar Tensor is unregistered in British Columbia
• Alberta Securities Commission issued a separate fraud warning on May 14, 2026
• The platform's named founder, "Felix Bick," appears to be a fabricated identity represented by both a paid actor and an AI-generated avatar
• On the same day the BCSC warning was published, Polar Tensor disabled parts of its website claiming a cyberattack, a pattern consistent with exit scam preparation
• The platform uses an MLM recruitment structure where returns depend on bringing in new depositors rather than verified trading profits
• ASC documented that victims of a prior collapsed scheme (BG Wealth Sharing) were being directed into Polar Tensor
• No verifiable trading infrastructure, audited financials, or proof of AI algorithm performance has been made public
• Withdrawal access is unclear following the platform's self-described "attack" announcement
• Heavy geographic concentration of traffic (98 percent Germany) suggests targeted community-based recruitment rather than organic growth
• Platform operates without registration with any known securities regulator

Investigation Findings

The British Columbia Securities Commission published its investment caution list entry for Polar Tensor on June 1, 2026, stating explicitly that the company is not registered with the BCSC and that anyone approached by the entity should proceed with extreme caution before transferring any money. Operating an investment scheme without securities registration in British Columbia constitutes securities fraud under provincial law. The BCSC warning is publicly accessible on the commission's official enforcement portal.

The Alberta Securities Commission had already flagged Polar Tensor more than two weeks earlier, on May 14, 2026. The ASC warning specifically noted a connection between Polar Tensor and BG Wealth Sharing, a separate scheme that had already collapsed and whose victims were reportedly being solicited to reinvest in Polar Tensor. This cross-scheme recruitment pipeline is a documented tactic used in organized Ponzi operations to extend longevity and extract additional funds from already-victimized individuals.

DefendMe analysts note that on the exact date the BCSC published its warning, Polar Tensor posted a message to users claiming the platform was under a cyberattack and that portions of its website were being disabled. This timing is not coincidental. In documented Ponzi collapses, operators frequently deploy "technical difficulties" or "security incident" narratives to delay withdrawal requests and buy time before a full exit. The platform's assurance that "funds are safe" during this announcement follows a pattern seen consistently in the final stages of fraudulent investment schemes.

Criminal Context and Enforcement Landscape

Securities fraud warnings from the BCSC and ASC are not advisory suggestions. They represent formal enforcement interventions by provincial regulators with the authority to investigate, freeze assets, and refer matters to law enforcement. Operating an unregistered investment scheme in British Columbia violates the BC Securities Act. The BCSC has pursued court-ordered asset freezes, administrative penalties, and referrals to the RCMP and other agencies in prior cases involving unregistered Ponzi operators. The ASC holds equivalent authority in Alberta.

The broader category of AI trading bot MLM crypto fraud has attracted significant regulatory and criminal enforcement attention across multiple jurisdictions in recent years. The United States Department of Justice, the SEC, and the FBI have all brought criminal charges and civil actions against operators of schemes sharing Polar Tensor's structural profile, including fake AI trading dashboards, fabricated founder identities, and MLM compensation structures. While no US federal action against Polar Tensor specifically has been identified to date, the involvement of a named US national as a presenter creates potential jurisdictional exposure under US securities and wire fraud statutes.

Victims located in Germany, which accounts for the overwhelming majority of Polar Tensor's known web traffic, may also have remedies under BaFin oversight and EU consumer protection frameworks. Coordinated cross-border regulatory complaints have historically increased the speed of asset tracing and enforcement action in internationally structured fraud cases of this type.

What Victims Should Do Now

1. Stop all deposits immediately. Do not send additional funds to Polar Tensor under any circumstances, including to unlock withdrawals or pay taxes or fees.
2. Do not pay any recovery agent who contacts you promising to retrieve your funds. Recovery scams specifically target Polar Tensor victims. Any unsolicited offer to recover your money for an upfront fee is a second fraud.
3. Preserve all evidence now. Screenshot every transaction, deposit confirmation, email, chat message, referral link, and promotional material. Save wallet addresses you sent funds to.
4. Do not contact the platform or alert operators that you are taking action. This can trigger account deletions or asset movements before any tracing can occur.
5. File a formal report with the BCSC (bcsc.bc.ca) if you are in British Columbia, with the ASC (albertasecurities.com) if you are in Alberta, and with your national financial regulator if you are located outside Canada.
6. Report to your local police and, if you are in the US, to the FBI Internet Crime Complaint Center (IC3) at ic3.gov and the SEC at sec.gov/tcr.
7. Submit your case details to DefendMe for a confidential assessment. Our platform can help document your losses, map the fraud structure, and connect you with appropriate reporting and legal channels in your jurisdiction.

Source: https://behindmlm.com/companies/polar-tensor-securities-fraud-warning-from-canada-bc/