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šØšØIndia's $100 Million Ponzi Scheme: Thousands of Investors Left Scrambling
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Thousands of investors in India have fallen victim to a massive Ponzi scheme, losing nearly $100 million. Falcon Invoice Discounting promised high returns, claiming to connect investors with big brands like Amazon and Britannia.
But here's the shocking truth: the company used new investors' money to pay off older ones, and diverted the rest to shell entities. The founder, Amardeep Kumar, is now on the run.
Many victims, including a jeweler and a tech employee, have spoken out about losing their life savings. "It's my hard-earned money. We don't know when and how we'll get it back," said one victim.
Indian authorities are cracking down on fake investment schemes, but it's essential to stay vigilant. Remember: if an investment seems too good to be true, it probably is.
Stay safe, and stay informed!
#InvestmentScams #ponzischeme #FinancialAwareness #FTXrepayment
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Thousands of investors in India have fallen victim to a massive Ponzi scheme, losing nearly $100 million. Falcon Invoice Discounting promised high returns, claiming to connect investors with big brands like Amazon and Britannia.
But here's the shocking truth: the company used new investors' money to pay off older ones, and diverted the rest to shell entities. The founder, Amardeep Kumar, is now on the run.
Many victims, including a jeweler and a tech employee, have spoken out about losing their life savings. "It's my hard-earned money. We don't know when and how we'll get it back," said one victim.
Indian authorities are cracking down on fake investment schemes, but it's essential to stay vigilant. Remember: if an investment seems too good to be true, it probably is.
Stay safe, and stay informed!
#InvestmentScams #ponzischeme #FinancialAwareness #FTXrepayment
S Creator:
so sad, People need to be more careful when investing their hard-earned money
š± A Las Vegas Man Charged for Defrauding 24 Million in Crypto Scheme š°
A *Las Vegas resident*, *Brent Kovar*, has been *charged* by U.S. regulators for allegedly *defrauding over 400 investors* out of *24 million* through a deceptive *AI-driven cryptocurrency mining scheme*. This case is a reminder of the dark side of the crypto world and the importance of staying alert. š§
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*How Did It Happen? š¤*
Kovar's company, *Profit Connect*, claimed to be a high-tech AI firm that was involved in *crypto mining* and *transaction verification*. He *lured investors* with promises of *lucrative returns*, offering *fixed annual returns of 15% to 30%* and a *100% money-back guarantee*. On top of that, he misled investors into believing that their money was *secure* and backed by the *Federal Deposit Insurance Corporation (FDIC)*. š³
However, it turns out these promises were *false*. Kovar used the investors' funds to live an *extravagant lifestyle*, purchasing gifts for employees, buying a *house*, and *repaying investors* to keep the scheme going ā all under the guise of crypto profits. šøš
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*Charges and Consequences š*
Now, Kovar is facing *12 counts of wire fraud*, *3 counts of mail fraud*, and *3 counts of money laundering*. If convicted, he could be looking at a *maximum of 330 years in prison* and a *4.5 million fine*. š³
This case is just one of many in a *broader crackdown* on *crypto-related Ponzi schemes*. Just recently, another promoter of a crypto Ponzi scheme, *Antonia Perez Hernandez*, was sentenced to *over two years in prison* for *conspiracy to commit wire fraud*. āļø
ā
*A Wider Problem: Crypto Fraud šµļøāāļø*
This case is part of an ongoing effort to fight crypto fraud. The *FBIās āOperation Level Upā* saved *285 million* in potential fraud losses between January 2024 and January 2025. šØ Itās clear that regulators are ramping up their efforts to hold scammers accountable and protect investors.
---
*Why Is This Important? šØ*
- *Do your research*: Before investing in any crypto opportunity, always look for *verified information* and *avoid promises of ātoo good to be trueā returns*.
- *Understand the risks*: Crypto is volatile, and *scams are unfortunately part of the landscape*. Make sure you only invest in *reputable projects*.
- *Stay vigilant*: If something feels off, trust your instincts and *walk away*.
---
*Final Thoughts š¤Æ*
While crypto offers great opportunities, itās essential to stay cautious and avoid falling for schemes like Kovarās. Letās learn from this case, stay informed, and keep our investments safe. š”
$BTC
$ETH
$BNB
#CryptoFraud #ponzischeme #CryptoScams #CryptoNews #FBI
---
*How Did It Happen? š¤*
Kovar's company, *Profit Connect*, claimed to be a high-tech AI firm that was involved in *crypto mining* and *transaction verification*. He *lured investors* with promises of *lucrative returns*, offering *fixed annual returns of 15% to 30%* and a *100% money-back guarantee*. On top of that, he misled investors into believing that their money was *secure* and backed by the *Federal Deposit Insurance Corporation (FDIC)*. š³
However, it turns out these promises were *false*. Kovar used the investors' funds to live an *extravagant lifestyle*, purchasing gifts for employees, buying a *house*, and *repaying investors* to keep the scheme going ā all under the guise of crypto profits. šøš
---
*Charges and Consequences š*
Now, Kovar is facing *12 counts of wire fraud*, *3 counts of mail fraud*, and *3 counts of money laundering*. If convicted, he could be looking at a *maximum of 330 years in prison* and a *4.5 million fine*. š³
This case is just one of many in a *broader crackdown* on *crypto-related Ponzi schemes*. Just recently, another promoter of a crypto Ponzi scheme, *Antonia Perez Hernandez*, was sentenced to *over two years in prison* for *conspiracy to commit wire fraud*. āļø
ā
*A Wider Problem: Crypto Fraud šµļøāāļø*
This case is part of an ongoing effort to fight crypto fraud. The *FBIās āOperation Level Upā* saved *285 million* in potential fraud losses between January 2024 and January 2025. šØ Itās clear that regulators are ramping up their efforts to hold scammers accountable and protect investors.
---
*Why Is This Important? šØ*
- *Do your research*: Before investing in any crypto opportunity, always look for *verified information* and *avoid promises of ātoo good to be trueā returns*.
- *Understand the risks*: Crypto is volatile, and *scams are unfortunately part of the landscape*. Make sure you only invest in *reputable projects*.
- *Stay vigilant*: If something feels off, trust your instincts and *walk away*.
---
*Final Thoughts š¤Æ*
While crypto offers great opportunities, itās essential to stay cautious and avoid falling for schemes like Kovarās. Letās learn from this case, stay informed, and keep our investments safe. š”
$BTC
$ETH
$BNB
#CryptoFraud #ponzischeme #CryptoScams #CryptoNews #FBI
š° The $24M Crypto Scam That Led to a 330-Year Prison Threat! š°
A Las Vegas man, Brent Kovar, promised investors the crypto dreamāsafe, AI-powered mining with 15%-30% guaranteed returns and a 100% money-back guarantee. He even claimed investments were FDIC-backed. Sounds too good to be true? It was.
From 2017 to 2021, Kovarās company, Profit Connect, pulled in $24 million from 400+ investors, using a slick website, flashy YouTube videos, and professional PowerPoint presentations. But behind the scenes, the money wasnāt fueling AI-driven miningāit was funding his lavish lifestyle.
šØ What really happened?
š“ Investor funds were used for luxury purchases, gifts for employees, and personal expenses.
š“ Early investors were paid with money from new victims, a classic Ponzi scheme.
š“ The whole operation crumbled, and authorities stepped in.
Now, Kovar faces 12 counts of wire fraud, 3 counts of mail fraud, and 3 counts of money laundering. If convicted, he could spend 330 years in prison and pay $4.5 million in fines.
š The Crypto Crackdown Continues!
Antonia Perez Hernandez, a promoter of the Forcount crypto scam, was sentenced to 2+ years in prison.
An 86-year-old ex-attorney was ordered to repay $14M for another Ponzi-style fraud.
FBIās āOperation Level Upā has prevented $285M in crypto fraud losses this past year!
š¬ Whatās your take? Should crypto scams get harsher punishments? Drop your thoughts below! š
#Cryptoscam #FraudAlert #ponzischeme #Bitcoin #CryptoNews
A Las Vegas man, Brent Kovar, promised investors the crypto dreamāsafe, AI-powered mining with 15%-30% guaranteed returns and a 100% money-back guarantee. He even claimed investments were FDIC-backed. Sounds too good to be true? It was.
From 2017 to 2021, Kovarās company, Profit Connect, pulled in $24 million from 400+ investors, using a slick website, flashy YouTube videos, and professional PowerPoint presentations. But behind the scenes, the money wasnāt fueling AI-driven miningāit was funding his lavish lifestyle.
šØ What really happened?
š“ Investor funds were used for luxury purchases, gifts for employees, and personal expenses.
š“ Early investors were paid with money from new victims, a classic Ponzi scheme.
š“ The whole operation crumbled, and authorities stepped in.
Now, Kovar faces 12 counts of wire fraud, 3 counts of mail fraud, and 3 counts of money laundering. If convicted, he could spend 330 years in prison and pay $4.5 million in fines.
š The Crypto Crackdown Continues!
Antonia Perez Hernandez, a promoter of the Forcount crypto scam, was sentenced to 2+ years in prison.
An 86-year-old ex-attorney was ordered to repay $14M for another Ponzi-style fraud.
FBIās āOperation Level Upā has prevented $285M in crypto fraud losses this past year!
š¬ Whatās your take? Should crypto scams get harsher punishments? Drop your thoughts below! š
#Cryptoscam #FraudAlert #ponzischeme #Bitcoin #CryptoNews
According to Cointelegraph, the co-founders of the cryptocurrency mining service HashFlare have agreed to plead guilty to a single count of conspiracy to commit wire fraud. This decision comes as part of a plea agreement with U.S. authorities. During hearings on February 12 in the U.S. District Court for the Western District of Washington, Sergei Potapenko and Ivan Turogin admitted guilt to one felony charge out of the 18 they faced from U.S. prosecutors. The Estonian nationals were accused of operating HashFlare as a Ponzi scheme, defrauding users of more than $550 million between 2015 and 2019. Additionally, they raised $25 million from investors in 2017 with promises to establish a digital bank named Polybius, which was never created.
Reed Smith partner and defense counsel Mark Bini, speaking to Cointelegraph after the hearings, stated that both defendants have "agreed to forfeit their interests in assets that the Government froze in 2022" and will provide assistance to ensure "zero financial harm to anyone." According to Bini, Potapenko, Turogin, and HashFlare returned $350 million in cryptocurrency payments to users between 2015 and 2022. HashFlare ceased operations in 2019, and Estonian authorities arrested Potapenko and Turogin in 2022 as part of the 18-count indictment. Following legal challenges, they were extradited to the United States in May 2024. Both have been free on bail since July 2024 but could face up to 20 years in prison each after a sentencing hearing scheduled for May 8.
This case remains under development, and further updates will be provided as new information becomes available.
#CryptoScandal #HashFlare #BitcoinFraud #CryptoNews #ponzischeme
Reed Smith partner and defense counsel Mark Bini, speaking to Cointelegraph after the hearings, stated that both defendants have "agreed to forfeit their interests in assets that the Government froze in 2022" and will provide assistance to ensure "zero financial harm to anyone." According to Bini, Potapenko, Turogin, and HashFlare returned $350 million in cryptocurrency payments to users between 2015 and 2022. HashFlare ceased operations in 2019, and Estonian authorities arrested Potapenko and Turogin in 2022 as part of the 18-count indictment. Following legal challenges, they were extradited to the United States in May 2024. Both have been free on bail since July 2024 but could face up to 20 years in prison each after a sentencing hearing scheduled for May 8.
This case remains under development, and further updates will be provided as new information becomes available.
#CryptoScandal #HashFlare #BitcoinFraud #CryptoNews #ponzischeme
š©2021 - To-Date SCAMS , SECURITIES FRAUD, PYRAMID SCHEME AND PONZI SCHEME WARNING LISTS (503 LIST):
Below you'll find both active, inactive, dormant, rebooted, rebranded and collapsed businesses (503):(majority of these lists has either rug pull or rebranded their names & company websites altogether but by their same tales you shall know them šš
)ā¢ 1044Proā¢Ā 5 Billion Salesā¢Ā 50/50 Crowdfunding (reboot to CoopCrowd)ā¢ 4QLifeā¢ 8 Figure Dream Lifestyleā¢ ABA Marketing (rebooted to 7 Flags Club)Ā ā¢ ACNā¢ Affluence Networkā¢ AI Marketing (reboot to CashBackPro)ā¢ Alliance In Motion Global (AIM Global)ā¢ AirBit Clubā¢ Alcor Trade (former Antares Trade)ā¢ Algotech (rebooted as WinWheel)ā¢ Allied Walletā¢ Alluyssian Sciencesā¢ Aloveaā¢ Aluvaā¢ Antares Trade (reboot to Alcor Trade)ā¢ AmpLIFEiā¢ Antis Capitalā¢ AntUSDā¢ Apex Financialā¢ Aplex VAĀ (part of Throne Legacy Capital)ā¢ Appi Travelsā¢ Arctic Nutritionā¢ Areonsā¢ Artery Networkā¢ Assure For Lifeā¢ Attevaā¢ AuBit (rebooted as Freeway) ā¢Ā Average Joe Profit System ā¢Ā AuLivesĀ (acquired by Validus, merged)ā¢ Aura 4 Financeā¢Ā AutoTrade Gold (Panthera Trade Technologies,Ā LegoMarket LLC, Pansaka)ā¢Ā Auvoria PrimeĀ ā¢Baccaratā¢Ā BakuhatsuĀ ā¢Ā Belfast Capital GroupĀ ā¢ Bastion Investā¢ BE, Be Rules or Be Factor (former Mellius)ā¢ Be Internationalā¢ Bedrock Expertsā¢ Better Globe (prevĀ Green Planet) ā¢ Beuraxā¢ Beyondā¢ Bitassets Ventureā¢Ā BitClub NetworkĀ ā¢ BitCoiinā¢ BitcoLoanā¢Ā BitConnectĀ ā¢ Bitflow Assetā¢ Bitlesā¢ BitLocityā¢ BitPayProfitsā¢ BitPlamā¢ BitRobotā¢ BitWingsā¢ Bixo Money (formerĀ BixoTrade)ā¢ BlackOxygen Organicsā¢ Blessings In No Time (BINT)ā¢ Blockchain Capitalā¢ Blockchain Global (ACX)ā¢ Block Consultā¢ BloxTecā¢ BNB33 Clubā¢ BNBBusinessĀ ā¢ BNB Profitā¢ BNB Stakeā¢ BoldGains Internationalā¢ Bomb Partyā¢ BotTronicā¢ Bruxis Tradingā¢ Bulavitaā¢ Juuva (former Wakaya Perfection)ā¢ BullRunā¢Ā Canneraldā¢ CashBack Marketingā¢ CashBackPro (former AI Marketing)ā¢ Calerieā¢ Carcoinā¢Ā Cash Forex GroupĀ (CashFX)ā¢ CBI Global (reboot from Uhuru Tribe)ā¢ Centurion GlobalĀ (former Ducatus Network)ā¢ CHY Mallā¢ ClearUnitedā¢ CoinChain Digitalā¢Ā CoinOptionā¢Ā Cloud HorizonĀ ā¢ Cloud Tokenā¢ ClubShopā¢ Commodumā¢ Common Sense Wellnes Worldwideā¢Ā ConligusĀ (sold to OneCoin)ā¢ CTCoin (Control Traders)ā¢ Control Financeā¢ Coop5050 (former CoopCrowd and 50/50 Crowdfundingā¢ Cooperative Crowdfundingā¢ CopyProTradersā¢ Corsair Group (Cloud Horizon) ā¢Ā Crowd 1Ā (Planet IX) ā¢Ā Crowdbridge GlobalĀ ā¢ Crunchiā¢ CrypArenaā¢ Crypto Advice (Mended Minds, Secugenius,Ā QuickX)ā¢ Cryptobergā¢ CryptobestFX247ā¢ Cryptolonā¢ CryptoSookā¢ CryptoSpotā¢Ā CubeBitĀ (reboot to CubeBit 2.0)ā¢ CVC Fundingā¢Ā CyberChainĀ ā¢Ā DagCoinĀ ā¢Ā Daisy AIĀ ā¢ Daxioā¢ DDKoinā¢ DeFiNaticsā¢ DigiCoinā¢ Digital Income Systemsā¢ Digital Money Marketsā¢ Digital Profitā¢ Direct Cellarsā¢ Divine Prosperity Blossomā¢ doTerraā¢ Driven Propertiesā¢Ā Ducatus Network (reboot to Centurion Global)ā¢Ā DuoLifeā¢Eclipcity Globalā¢ Eaconomy (partnered with Beyond Wealth)ā¢ Easy1Upā¢Ā EclipCity GlobalĀ ā¢ EcoTradeā¢Ā eComelizeĀ ā¢ Edain (EAI token)ā¢ Elamantā¢ Elevate Passā¢Ā Elixooā¢Ā Elon MuskĀ scamā¢ Elysium Capitalā¢Ā Elysium NetworkĀ ā¢ EndoTechā¢Ā EmpiresXĀ ā¢ Empowered Consumerism (AIM Global)ā¢Ā Enigro GroupĀ (rebooted to The Opportunity Network)ā¢ eOracle (reboot to Espian Global)ā¢ Epika Globalā¢Ā Espian Global (former eOracle) ā¢Ā EtherScanĀ ā¢ EtherConnectā¢ Evo Binaryā¢ Evolution Gifting Communityā¢Ā EvoRichĀ (Skywaay Capital / NEEW)Ā ā¢ Exove Investmentā¢ Exp Realtyā¢ Expo R&Mā¢ F2S Fundā¢ Family First Lifeā¢ EzyTRX (reboot to EzyTRX II)ā¢Ā Finalmente GlobalĀ ā¢Ā Finance & Business Consulting (FBC)ā¢ Financial Education Servicesā¢ Finikoā¢ Flexkom (rebooted to Weeconomy)ā¢ Fola Global (FamilyMart)ā¢ FomoExā¢ Forsage BUSDĀ (former Forsage, Fortron, Forsage Tron, Forsage XGold)ā¢Ā FreebayĀ (former G999) ā¢Ā Freedom Groupā¢Ā FirstCoin ClubĀ ā¢Ā FutureNetā¢ Future Maker Life Careā¢ Futurion Financeā¢Gameasā¢ Ganancias Deportivasā¢ G999 (GSPartners, in partnership with Driven Properties)ā¢ GainBTTā¢Ā GetOn GlobalĀ ā¢ Gifting Communityā¢Ā Gift Of Legacyā¢Ā Global I Gold Online (GIG-OS) (formerĀ EmGoldex andĀ Global InterGold)ā¢ GladiaCoinā¢ Globalytics Tech Research (rebooted from Jubilee Ace) ā¢Ā Global I Gold OnlineĀ ā¢ Global Investment Trading (dba Liyeplimal)ā¢ Global Sponsorship Network (GSN) reboot from OneLinkā¢ Global Technology & Innovation ā¢ Global Trading Clubā¢ Go9Troā¢ GoFoundersā¢ GreenChoyceā¢ GreenGoldā¢ GriddyProā¢Headway Capital (clone of Ax Trader)ā¢ Hulsaā¢Ā Hustle With Usā¢ HybridTech Global ā¢Ā HyperFundĀ (former HyperCapital)ā¢ HyperMining (HyperTech)ā¢ Hyperverse/Ā HyperVerse Ecosystem, shortĀ VerseEco, consists of Nebula,Ā Galaxy Decentralized Capital and VerseDAO, HyperCash, HU, MOF, HVT, HDAO,Ā partnership Genaro Network (GNX token)ā¢IAM Worldwideā¢ iBG Financeā¢ iBuumerang/Ellev8 (former Countdown4Freedom)ā¢ IDentityUSAā¢ i-Fernā¢ iGeniusā¢ iHub Globalā¢ Ilgamos (reboot to ILGON)ā¢ Impero Solutionsā¢ (reboot from EurekaCoin)ā¢ INB Network (CashBackPro, former AI Marketing)ā¢ InCruisesā¢ Indusvivaā¢ Infinity Global (Bitex)ā¢Ā Infinity2Globalā¢Ā InnerQuest GlobalĀ ā¢Ā IM Mastery Academyā¢ Impero Solutionsā¢ Incomatrixā¢ Innov8tive Nutrionā¢ Intelligence Prime Capital (IPC Trade,Ā IPCapital)ā¢ Intense Liveā¢ International TEFL Organizationā¢ Investrixā¢ Investview (reboot as Kuvera Global, brand iGenius)ā¢ Infinity Loopsā¢ iPro Network (ProCurrency, PROC)ā¢Ā IQ ChainĀ (rebranded toĀ IQ Legacy)Ā ā¢Ā IQ 5050Ā ā¢ iQuandexā¢ Isagenixā¢ iX Globalā¢Ā IX Inversorsā¢Jaa LifeStyleā¢ JetCoinā¢ Jeunessā¢ JN Jewelryā¢ Jonny Blockchainā¢Ā Jubilee AceĀ ā¢ Just Been Paid 2020ā¢Ā Karatbars InternationalĀ (LifeBase, G999, Freebay)ā¢ Kevlar Gifting Communities (reboot to Gifting Communities)ā¢ Kindred Heartsā¢Ā King Financeā¢ KOK Playā¢ Kripto Futureā¢ Kryptogenexā¢ Lifestyle Marketing Groupā¢Ā KuailianĀ Eco-systemā¢ Kynect Energy (acquired by ACN)ā¢ Laetitudeā¢ Learn Build Lead (LBL)ā¢ LeoTradeā¢ Level Up 247ā¢Ā LifeBaseĀ ā¢ Lion's Shareā¢ Liv Labsā¢ Liyeplimal Crypto MLM Systemā¢ Lobtoā¢ Longrichā¢ Lucky Dozensā¢ Lueur Lauren Internationalā¢ LuLaRoeā¢ Lyconetā¢ Lyonessā¢ Mag Marketsā¢ Majesty Hash proā¢ MarfinFXā¢ Maskcara (rebranded as Seint) Matt Bot AIā¢ Matic Businessā¢ Matrix Proā¢Ā Matrix Pro Leadsā¢Ā MBI Internationalā¢ Medical Marketing Project (MMP)ā¢ Mfinity Global (former Bulavita)ā¢ Mido Financeā¢ Mindset 24 Globalā¢ Minedā¢Ā Mined Capitalā¢ Minerva Trading Bot (CMC Invest)ā¢ Mining Cityā¢ MineRiftā¢ Mint Builderā¢ Mirollexā¢Ā Mirror Trading InternationalĀ ā¢ MMM Globalā¢ MOBE (QualPay)ā¢ Model Farmingā¢ Monatā¢ Monetize 911ā¢ MoneyTimeā¢ Monk Trading Investmentā¢ MultiplyWESAā¢ MVR Lifeā¢ My Blockchain Lifeā¢ MyCOMā¢ MyCryptoWorldā¢ My Daily Choiceā¢ My Freedom in 365ā¢ MyGBit Miningā¢ My Passive Tradesā¢ myWorldĀ (Lyoness)ā¢Nacometaā¢Ā NamiroĀ ā¢Ā Nano ClubĀ ā¢Ā Nano CrowdĀ ā¢ Navan Global (sold to Ariix)ā¢ NBH Finance (NBH Group)ā¢ Ncreaseā¢ Neora (formerly Nerium International)Ā ā¢ NewChoyceā¢Ā New Economic Evolution of the WorldĀ (NEEW)ā¢ NextLevelXā¢ Nexyiuā¢ Nimbus Platformā¢ Nominexā¢ NortheStarā¢ Nowsite Marketingā¢ NRGY GOā¢ NuSkinā¢ Nussentialsā¢ Nu Xtraxā¢Ā Nutonicā¢Omega Digitalā¢Ā Omegapro ForexĀ ā¢Ā OneCoinĀ ā¢ One Eco System (rebranded to OneLife Network)Ā OneDealer AS NorwayĀ ā¢Ā OneLife NetworkĀ ā¢Ā OneLinkĀ (Global Sponsorship Network)Ā ā¢Ā OnPassiveĀ ā¢ Onward Capitalā¢ Oola Globalā¢ Open Alexaā¢Ā Opportunity NetworkĀ (sold to OneCoin)ā¢Ā OrientumĀ ā¢ OrbiXVictus (AIM Global) ā¢ Orion Financeā¢Ā Ormeus GlobalĀ ā¢ Oro Oneā¢ OSM Software Solutionsā¢ O'Snapā¢ OXO Worldwideā¢PandaTronā¢ Paparazzi Accessoriesā¢ PartyLiteā¢ Passive Tron Profitsā¢Ā Paytron BTCā¢Ā PBX TradingĀ (former Premium Business)ā¢ PetronPayā¢ Phenomenal Clubā¢ PIE 24/7ā¢Ā Pipzā¢Ā Post 2 Profitsā¢ PraetorianĀ Global International (PGI)ā¢Ā PlusTokenĀ (World Blockchain Forum)ā¢Ā PowerPost Profitsā¢ Powurā¢ Primary the Ruling Class ā¢Ā Premium BusinessĀ ā¢ Prime International Clubā¢ PrivaFundā¢ Prizmā¢ ProCashā¢ Profit Connectā¢ Project Lanternā¢QNet (rebranded from GoldQuest)Ā ā¢ Qtrexā¢ Quaestor Solutions (Quaestor Coin)ā¢Ā QubitLifeĀ (rebranded fromĀ QubitTech)ā¢ Questra Worldā¢R Networkā¢ RE247365ā¢ Recylixā¢ Redwood Scientific Technologiesā¢ RengaLifeā¢ Riseooā¢ Riwayā¢ Robot22 Tradeā¢ Rostek Globalā¢ Royal Returnsā¢ Roy Clubā¢ Royal Q (Sec gov ph)ā¢Ā Safir InternationalĀ ā¢ Salviaā¢ SamKoinā¢ Scentsyā¢ Scout & Cellarā¢ SDK Metaā¢ SeedChangeā¢Ā Senexaā¢ SHA-256ā¢ ShynXLā¢ Silver Icingā¢ Silver Partners for Profitsā¢Ā SilverStar LiveĀ (renamed AI Global, and then again to Ai Expert Advisor)ā¢ Silwana Globalā¢Ā Sincere Systems (rebooted as S-Group)ā¢Ā SiteTalkĀ ā¢ Six Sigma Tradeā¢Ā SkyWay Capital,Ā CryptoUnitsĀ (rebooted to Unitsky String Technologies)Ā ā¢ SmartHashesā¢ SmashFundā¢ SnapBotsā¢ Snap Deliveredā¢Ā SofTrade AIā¢ Solar Groupā¢ Solar Oil Projectā¢ Solmax Globalā¢ Solvasaā¢ Speed Finance Clubā¢ Success By Healthā¢ Success Factoryā¢ SuperDraft Pro (SuperSports Global)ā¢Ā SwagĀ (Swag Mining, Swag Network)ā¢Ā SwapITĀ ā¢Ā SwissCoinĀ ā¢Tapestriā¢ Team Travel MVPā¢Ā TechVisionā¢Ā Telepreneur Corpā¢ Teqraā¢ The $100 Systemā¢ The Happy Coā¢ The Perfect Systemā¢Ā The PLR System Ā The Prosperity GridĀ ā¢ The Token Networkā¢ TheClub.Travelā¢Ā TelexFreeā¢ Toga Limited (reboot to Eostre Berhad)ā¢ Torque Trading (TORQ)ā¢ Touchstone Successā¢ Torexo Financeā¢Ā TRVLā¢ Traderaā¢ Trading Insightā¢ Traffic Monsoonā¢ TriumphFXā¢ TronBaseā¢ TronCarryā¢ TronCaseā¢Ā TronChainĀ ā¢ Tronconomyā¢ TronPlusā¢ TronThunderā¢Ā Trujivanā¢ Trunitedā¢ Trust Investingā¢ Tulian Investmentā¢ Turbo Cryptoā¢ Twindaxā¢ Twin TurboTRXā¢Ā UnaicoĀ ā¢ Universal Abundance ā¢Ā Up2GiveĀ (U2G Network)Ā ā¢ UpMoneyā¢ Upnomixā¢ UR Worth Itā¢ Ushareā¢ Uulalaā¢Ā Unity Line Buildersā¢Ā Upisticā¢Vantel Pearlsā¢ Vida Divinaā¢ Viral Compensationā¢ Visalus Sciencesā¢ Visemingā¢ Vitaeā¢ Vivā¢ Vollaraā¢ VR Tron500ā¢ VRDa1ā¢Wakaya Perfection (sold to LaCore Enterprises)Ā WantageOneĀ ā¢ WaterMineā¢ Wazzubā¢ We Share Abundanceā¢ Weterā¢Ā WiselingĀ ā¢ Wisemingā¢ Workxonā¢ World Crypto Lifeā¢Ā World Enhanced Wealth Ecosystem Global (WeWe Global) ā¢ WorldVentures (acquired byĀ Verona International Holdings, rebooted asĀ DreamTrips)ā¢Ā World Wealth ClubĀ ā¢Xellis (former Natura4Ever)ā¢ XEMXLinkā¢ Xifra LifeStyleā¢ Xtreme Pro Systemā¢YEPā¢ Youngevityā¢Zaxā¢ Zeek Rewardsā¢Ā Zeniq CoinĀ ā¢ Zeonisā¢ ZetBullā¢ Zomoneyā¢ Zukul Goldā¢ Zukul Trading#BTC #Ponzi #ponzischeme #scammers. #Cryptoscam
Chinese Authorities Crack Down on $280 Million Cryptocurrency Ponzi Scheme. šØš³š®š»āāļø
In a significant breakthrough, the Yuanbao Branch of Chifeng City Domestic Security Bureau in Inner Mongolia, China, has successfully dismantled a major cryptocurrency Ponzi scheme. Operating from Beijing, the undisclosed platform employed sophisticated organizational structures and innovative marketing tactics, raising suspicions of criminal activities involving cryptocurrencies.
With operations spanning 13 provinces and cities, the platform boasted over 18,000 registered members. The total transaction flow surpassed 2 billion yuan ($280 million), revealing the scale of the illicit activities. The primary focus of the scheme was a classic Ponzi structure.
Chinese law enforcement swiftly responded, arresting 30 suspects associated with the cryptocurrency platform. Additionally, they froze nearly 10 million yuan linked to the case. Ongoing investigations are in progress, with two main suspects voluntarily surrendering to authorities.
This case unfolds against the backdrop of China's existing ban on cryptocurrency assets. Despite the ban, the allure of virtual assets persists, leading many Chinese citizens to access crypto platforms through VPNs.
The crackdown on this sizable Ponzi scheme highlights the authorities' commitment to combating illegal activities within the cryptocurrency space. As the investigation unfolds, it serves as a stark reminder of the challenges posed by the intersection of financial technology and criminal enterprises.
#China #cryptocurrency #VPN #ponzischeme #Ponzi
In a significant breakthrough, the Yuanbao Branch of Chifeng City Domestic Security Bureau in Inner Mongolia, China, has successfully dismantled a major cryptocurrency Ponzi scheme. Operating from Beijing, the undisclosed platform employed sophisticated organizational structures and innovative marketing tactics, raising suspicions of criminal activities involving cryptocurrencies.
With operations spanning 13 provinces and cities, the platform boasted over 18,000 registered members. The total transaction flow surpassed 2 billion yuan ($280 million), revealing the scale of the illicit activities. The primary focus of the scheme was a classic Ponzi structure.
Chinese law enforcement swiftly responded, arresting 30 suspects associated with the cryptocurrency platform. Additionally, they froze nearly 10 million yuan linked to the case. Ongoing investigations are in progress, with two main suspects voluntarily surrendering to authorities.
This case unfolds against the backdrop of China's existing ban on cryptocurrency assets. Despite the ban, the allure of virtual assets persists, leading many Chinese citizens to access crypto platforms through VPNs.
The crackdown on this sizable Ponzi scheme highlights the authorities' commitment to combating illegal activities within the cryptocurrency space. As the investigation unfolds, it serves as a stark reminder of the challenges posed by the intersection of financial technology and criminal enterprises.
#China #cryptocurrency #VPN #ponzischeme #Ponzi
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Argentina vs. Crypto Ponzi: $3.5 million in USDT frozen! š„
Another loud scandal in the crypto world! š Argentina conducted a large-scale operation, freezing $3.5 million in USDT related to the Rainbowex platform. šø
As a result of the investigation, 10 people have been arrested, accused of creating an alleged Ponzi scheme. šµļøāāļø Authorities claim that the platform attracted investors with promises of "incredible returns", while in reality the money was simply redistributed.
Interestingly, such cases are becoming more and more common. š¤ This is a signal for the crypto community: invest wisely, verify projects, and do not trust those who promise "golden mountains" without risk. š©
Share your thoughts! Is there a need for increased oversight of cryptocurrency platforms or are such actions just hindering the development of the industry? š¬
#CryptoNews #PonziScheme #Argentina #USDT
Another loud scandal in the crypto world! š Argentina conducted a large-scale operation, freezing $3.5 million in USDT related to the Rainbowex platform. šø
As a result of the investigation, 10 people have been arrested, accused of creating an alleged Ponzi scheme. šµļøāāļø Authorities claim that the platform attracted investors with promises of "incredible returns", while in reality the money was simply redistributed.
Interestingly, such cases are becoming more and more common. š¤ This is a signal for the crypto community: invest wisely, verify projects, and do not trust those who promise "golden mountains" without risk. š©
Share your thoughts! Is there a need for increased oversight of cryptocurrency platforms or are such actions just hindering the development of the industry? š¬
#CryptoNews #PonziScheme #Argentina #USDT
EvoRichās Andrey Khovratov Sentenced to 5years In Prison
Evorich Ponzi founder Andrey Khovratov has been sentenced to five years in prison. Prosecutors had asked the court for a six year sentence.Following his arrest attempting to flee Russia in early 2022, Khovratov was charged with five counts of participating in fraud via organized crime.As per a January 23rd press-release from the Presnesnky Prosecutorās Office, the Moscow court based Khovratovās guilty verdict on EvoRich being a Ponzi scheme. Khovratov, being the general director of Academy of Private Investor LLC, together with an accomplice who is on the wanted list and other unidentified persons, created a website accessible to an unlimited number of people, informing that anyone can become a co-owner, shareholder, shareholder, shareholder of the global an investment fund operating in all segments and sectors of the investment market.The accomplices misled users of the Internet resource by providing deliberately false information that the investments would make it possible to implement the program of the New Economic Evolution of the World, created by Khovratov, and to receive high investment income.In order to make a profit, the misled victims purchased cryptocurrency from the defendants, transferring funds to accounts controlled by them.The members of the organized group distributed the funds received from the victims among themselves, evading their obligations to pay dividend income from investing in cryptocurrency, as well as to return the funds.An unnamed accomplice of Khovratovās remains wanted by Russian authorities.#Evorich #ponzischeme #mlm #pyramidscheme #CryptoScamExposed
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Chinese authorities crack down on $280 million cryptocurrency Ponzi scheme. šØš³š®š»āāļø
In a major breakthrough, the Yuanbao Branch of the Domestic Security Bureau in Chifeng City, Inner Mongolia, China, successfully dismantled a major cryptocurrency Ponzi scheme. Operating from Beijing, the undisclosed platform used sophisticated organizational structures and innovative marketing tactics, raising suspicions of criminal activity involving cryptocurrencies.
With operations spanning 13 provinces and cities, the platform had over 18,000 registered members. The total transaction flow exceeded 2 billion yuan ($280 million), revealing the scale of illicit activities. The main objective of the project was a classic Ponzi structure.
Chinese law enforcement quickly responded, arresting 30 suspects associated with the cryptocurrency platform. In addition, they froze nearly 10 million yuan related to this case. Investigations are ongoing, and two main suspects have voluntarily surrendered to authorities.
This case takes place against the backdrop of China's current ban on cryptocurrency assets. Despite the ban, the allure of virtual assets persists, leading many Chinese citizens to access crypto platforms via VPNs.
The crackdown on this major Ponzi scheme highlights the authorities' commitment to combating illegal activity in the cryptocurrency space. As the investigation unfolds, it is a stark reminder of the challenges posed by the intersection of financial technology and criminal enterprises.
#China #cryptocurrency #VPN #ponzischeme #Ponzi
In a major breakthrough, the Yuanbao Branch of the Domestic Security Bureau in Chifeng City, Inner Mongolia, China, successfully dismantled a major cryptocurrency Ponzi scheme. Operating from Beijing, the undisclosed platform used sophisticated organizational structures and innovative marketing tactics, raising suspicions of criminal activity involving cryptocurrencies.
With operations spanning 13 provinces and cities, the platform had over 18,000 registered members. The total transaction flow exceeded 2 billion yuan ($280 million), revealing the scale of illicit activities. The main objective of the project was a classic Ponzi structure.
Chinese law enforcement quickly responded, arresting 30 suspects associated with the cryptocurrency platform. In addition, they froze nearly 10 million yuan related to this case. Investigations are ongoing, and two main suspects have voluntarily surrendered to authorities.
This case takes place against the backdrop of China's current ban on cryptocurrency assets. Despite the ban, the allure of virtual assets persists, leading many Chinese citizens to access crypto platforms via VPNs.
The crackdown on this major Ponzi scheme highlights the authorities' commitment to combating illegal activity in the cryptocurrency space. As the investigation unfolds, it is a stark reminder of the challenges posed by the intersection of financial technology and criminal enterprises.
#China #cryptocurrency #VPN #ponzischeme #Ponzi
Title: know your #scam
Navigating the Crypto Landscape: Beware of Scams on Binance and Beyond
Cryptocurrencies have gained immense popularity, offering new and exciting opportunities for investors. However, with the rise in popularity comes an increase in scams and fraudulent activities. Binance, being a leading cryptocurrency exchange, is not immune to these challenges. Let's explore some common scams, misleading information, and ways to protect yourself in the ever-evolving world of crypto.
1. #PhishingScams :
Phishing remains a prevalent threat in the crypto space. Scammers often create fake websites that mimic legitimate platforms like Binance to trick users into providing their login credentials. Always double-check the website's URL and enable two-factor authentication (2FA) to enhance security.
2. Impersonation and Social Engineering:
Scammers may impersonate Binance support or influential figures in the crypto community, reaching out to users through social media or email. Be cautious of unsolicited messages and always verify the identity of the person or entity before sharing sensitive information.
3. #pumpanddump Schemes:
In pump and dump schemes, organizers artificially inflate the price of a cryptocurrency through false or misleading information, only to sell off their holdings at the peak, leaving other investors with losses. Exercise caution and thoroughly research any investment opportunities.
4. Fake #ICOSCAM and Token Sales:
Some scammers create fake Initial Coin Offerings (ICOs) or token sales, enticing investors with promises of high returns. Always research the legitimacy of a project, review the whitepaper, and verify the credentials of the team behind it.
5. #ponzischeme :
Ponzi schemes promise high returns to initial investors using the capital from new investors. These schemes are unsustainable and often collapse, resulting in significant losses. Be wary of investment opportunities that seem too good to be true.
Navigating the Crypto Landscape: Beware of Scams on Binance and Beyond
Cryptocurrencies have gained immense popularity, offering new and exciting opportunities for investors. However, with the rise in popularity comes an increase in scams and fraudulent activities. Binance, being a leading cryptocurrency exchange, is not immune to these challenges. Let's explore some common scams, misleading information, and ways to protect yourself in the ever-evolving world of crypto.
1. #PhishingScams :
Phishing remains a prevalent threat in the crypto space. Scammers often create fake websites that mimic legitimate platforms like Binance to trick users into providing their login credentials. Always double-check the website's URL and enable two-factor authentication (2FA) to enhance security.
2. Impersonation and Social Engineering:
Scammers may impersonate Binance support or influential figures in the crypto community, reaching out to users through social media or email. Be cautious of unsolicited messages and always verify the identity of the person or entity before sharing sensitive information.
3. #pumpanddump Schemes:
In pump and dump schemes, organizers artificially inflate the price of a cryptocurrency through false or misleading information, only to sell off their holdings at the peak, leaving other investors with losses. Exercise caution and thoroughly research any investment opportunities.
4. Fake #ICOSCAM and Token Sales:
Some scammers create fake Initial Coin Offerings (ICOs) or token sales, enticing investors with promises of high returns. Always research the legitimacy of a project, review the whitepaper, and verify the credentials of the team behind it.
5. #ponzischeme :
Ponzi schemes promise high returns to initial investors using the capital from new investors. These schemes are unsustainable and often collapse, resulting in significant losses. Be wary of investment opportunities that seem too good to be true.
šµļøāāļø According to Chainalysis in their latest report, the average lifespan of crypto scams in 2024 has dropped to 42 days, compared to 271 days in 2020.
š„· Scammers frequently use the āpig butcheringā scheme, where they initially lure victims with small gains to build trust and confidence, only to later exploit them for a significant loss. ššŖ
beware of this scam project..
specially pakistani and indian community.
#scammeralert
#ponzischeme
š„· Scammers frequently use the āpig butcheringā scheme, where they initially lure victims with small gains to build trust and confidence, only to later exploit them for a significant loss. ššŖ
beware of this scam project..
specially pakistani and indian community.
#scammeralert
#ponzischeme
OmegaPro.IN Review: Same Name, Different Ponzi Scheme;
OmegaPro.IN, not to be confused with the notorious Dubai-based OmegaPro Ponzi, fails to provide ownership or executive information on its website.
OmegaPro.INās website domain (āomegapro. inā), was privately registered on May 11th, 2023.
In the footer of its website, OmegaPro.IN provides a PO Box address in St. Vincent and the Grenadines. For what should be obvious reasons, this is meaningless.
Further attempts to appear legitimate by OmegaPro.IN include: a Polish shell company certificate (this is backdated to 2020 and appears to be doctored). an insurance document provided by Renaissance Insurance (this is backdated to 2015 and is obviously doctored) and a UK shell company certificate for Omega-Pro LTD.
Due to the ease with which scammers are able to incorporate shell companies with bogus details, for the purpose of MLM due-diligence these certificates are meaningless.
Furthermore, OmegaPro.IN markets itself as an MLM cryptocurrency investment scheme. The UKās FCA outright banned MLM cryptocurrency investment schemes on October 8th, 2023.
Further to OmegaPro.INās regulatory problems, Franceās AMF added OmegaPro.IN to its investment blacklist on December 5th, 2023.
OmegaPro.IN Conclusion:
OmegaPro.IN appears to be an attempt to cash in the collapsed OmegaPro Ponzi scheme. With OmegaPro suspected of being a multi-billion dollar Ponzi and its owners in hiding pending arrest, itās unlikely they have anything to do with OmegaPro.IN.
This is opportunistic scammers at work, hoping to make a quick buck.
As with all MLM Ponzi schemes, once affiliate recruitment dries up so too will new investment.
#ponzischeme #mlm #omengapro #OmegaNetwork
OmegaPro.IN, not to be confused with the notorious Dubai-based OmegaPro Ponzi, fails to provide ownership or executive information on its website.
OmegaPro.INās website domain (āomegapro. inā), was privately registered on May 11th, 2023.
In the footer of its website, OmegaPro.IN provides a PO Box address in St. Vincent and the Grenadines. For what should be obvious reasons, this is meaningless.
Further attempts to appear legitimate by OmegaPro.IN include: a Polish shell company certificate (this is backdated to 2020 and appears to be doctored). an insurance document provided by Renaissance Insurance (this is backdated to 2015 and is obviously doctored) and a UK shell company certificate for Omega-Pro LTD.
Due to the ease with which scammers are able to incorporate shell companies with bogus details, for the purpose of MLM due-diligence these certificates are meaningless.
Furthermore, OmegaPro.IN markets itself as an MLM cryptocurrency investment scheme. The UKās FCA outright banned MLM cryptocurrency investment schemes on October 8th, 2023.
Further to OmegaPro.INās regulatory problems, Franceās AMF added OmegaPro.IN to its investment blacklist on December 5th, 2023.
OmegaPro.IN Conclusion:
OmegaPro.IN appears to be an attempt to cash in the collapsed OmegaPro Ponzi scheme. With OmegaPro suspected of being a multi-billion dollar Ponzi and its owners in hiding pending arrest, itās unlikely they have anything to do with OmegaPro.IN.
This is opportunistic scammers at work, hoping to make a quick buck.
As with all MLM Ponzi schemes, once affiliate recruitment dries up so too will new investment.
#ponzischeme #mlm #omengapro #OmegaNetwork
$NEIRO
check the official website. It looks like the Scam.
people have invested millions on this coin and many got liquidated with their hard earned money .
its a manipulative shit coin. be aware it can be rugged pull anytime .
#ponzischeme #Ponzi #questionable
check the official website. It looks like the Scam.
people have invested millions on this coin and many got liquidated with their hard earned money .
its a manipulative shit coin. be aware it can be rugged pull anytime .
#ponzischeme #Ponzi #questionable
šØ In Crypto History Top 10 Biggest Scams šØ
Delve into the murky world of crypto fraud with these notorious scams that rocked the industry and cost investors billions.
1ļøā£ BitConnect (2016-2018)
BitConnect promised high returns through a lending program but was revealed as a Ponzi scheme. It collapsed, causing billions in losses.
2ļøā£ OneCoin (2014-2017)
OneCoin, marketed as a revolutionary crypto, was a multi-billion dollar scam run by Ruja Ignatova, who vanished in 2017. It never had a real blockchain.
3ļøā£ MT. Gox (2011-2014)
MT. Gox, once the largest Bitcoin exchange, lost 850,000 Bitcoins (worth $450 million at the time) due to hacking and mismanagement, leading to bankruptcy.
4ļøā£ PlusToken (2018-2019)
PlusToken defrauded investors of over $2 billion with promises of high returns before its operators were arrested.
5ļøā£ QuadrigaCX (2013-2019)
QuadrigaCX collapsed after its CEO, Gerald Cotten, died, allegedly taking $190 million in crypto to his grave, though foul play is suspected.
6ļøā£ BitClub Network (2014-2019)
BitClub Network scammed investors out of $722 million with a fraudulent mining pool operation before its founders were arrested.
7ļøā£ WoToken (2018-2020)
Similar to PlusToken, this Chinese Ponzi scheme defrauded investors of over $1 billion before its operators were caught.
8ļøā£ Thodex (2021)
The Turkish exchange halted trading abruptly, and its CEO fled with $2 billion of investor funds.
9ļøā£ Africrypt (2021)
Two South African brothers allegedly stole $3.6 billion in Bitcoin from their platform and disappeared.
š Mirror Trading International (2019-2020)
This South African Bitcoin trading platform turned out to be a Ponzi scheme, leading to over $589 million in losses.
š #CryptoScams #CryptoFraud #BitcoinScams #ponzischeme #StaySafeCrypto
ā Like ā¤ļø | Comment š¬ | Share š
š Follow for more updates! @KhannAmirr
Delve into the murky world of crypto fraud with these notorious scams that rocked the industry and cost investors billions.
1ļøā£ BitConnect (2016-2018)
BitConnect promised high returns through a lending program but was revealed as a Ponzi scheme. It collapsed, causing billions in losses.
2ļøā£ OneCoin (2014-2017)
OneCoin, marketed as a revolutionary crypto, was a multi-billion dollar scam run by Ruja Ignatova, who vanished in 2017. It never had a real blockchain.
3ļøā£ MT. Gox (2011-2014)
MT. Gox, once the largest Bitcoin exchange, lost 850,000 Bitcoins (worth $450 million at the time) due to hacking and mismanagement, leading to bankruptcy.
4ļøā£ PlusToken (2018-2019)
PlusToken defrauded investors of over $2 billion with promises of high returns before its operators were arrested.
5ļøā£ QuadrigaCX (2013-2019)
QuadrigaCX collapsed after its CEO, Gerald Cotten, died, allegedly taking $190 million in crypto to his grave, though foul play is suspected.
6ļøā£ BitClub Network (2014-2019)
BitClub Network scammed investors out of $722 million with a fraudulent mining pool operation before its founders were arrested.
7ļøā£ WoToken (2018-2020)
Similar to PlusToken, this Chinese Ponzi scheme defrauded investors of over $1 billion before its operators were caught.
8ļøā£ Thodex (2021)
The Turkish exchange halted trading abruptly, and its CEO fled with $2 billion of investor funds.
9ļøā£ Africrypt (2021)
Two South African brothers allegedly stole $3.6 billion in Bitcoin from their platform and disappeared.
š Mirror Trading International (2019-2020)
This South African Bitcoin trading platform turned out to be a Ponzi scheme, leading to over $589 million in losses.
š #CryptoScams #CryptoFraud #BitcoinScams #ponzischeme #StaySafeCrypto
ā Like ā¤ļø | Comment š¬ | Share š
š Follow for more updates! @KhannAmirr
šØ SEC CRACKS DOWN ON ALLEGED CRYPTO PONZI SCHEME: A COMPREHENSIVE ANALYSIS šØ
The Securities and Exchange Commission (SEC) has taken bold action against crypto trading bot operators, freezing their assets in response to allegations of a massive Ponzi scheme. šš„
Hereās what you need to know:
- **Ponzi Scheme Allegations**: The SEC accuses the operators of orchestrating a classic Ponzi scheme, using new investorsā funds to pay earlier ones while promising unrealistic returns. This unsustainable model relies on a never-ending influx of new capital. ššø
- **Crypto Trading Bot Scam**: Promising high returns through automated crypto trading, the operators misled investors with false claims about their trading bots. The SEC alleges these claims were pure deception. š¤š«
- **Frozen Assets**: The SECās asset freeze aims to halt fraudulent activities and protect potential victims, preserving assets for possible recovery. šš
- **Investor Warning**: This case highlights the need for extreme caution when encountering unusually high returns. Thorough research and skepticism are crucial to avoid falling prey to scams. šš
- **Regulatory Action**: The SECās decisive action underscores its commitment to investor protection and market integrity, sending a strong message to fraudsters and emphasizing the importance of regulatory compliance. āļøš
- **Ongoing Investigation**: The SECās investigation continues, with potential for further actions and restitution for affected investors. Stay alert and informed to steer clear of fraudulent schemes!
Stay vigilant and safeguard your investments! šØš
#SECCryptoRegulation #CryptoNewss #ponzischeme #TelegramCEO #DOGSONBINANCE
The Securities and Exchange Commission (SEC) has taken bold action against crypto trading bot operators, freezing their assets in response to allegations of a massive Ponzi scheme. šš„
Hereās what you need to know:
- **Ponzi Scheme Allegations**: The SEC accuses the operators of orchestrating a classic Ponzi scheme, using new investorsā funds to pay earlier ones while promising unrealistic returns. This unsustainable model relies on a never-ending influx of new capital. ššø
- **Crypto Trading Bot Scam**: Promising high returns through automated crypto trading, the operators misled investors with false claims about their trading bots. The SEC alleges these claims were pure deception. š¤š«
- **Frozen Assets**: The SECās asset freeze aims to halt fraudulent activities and protect potential victims, preserving assets for possible recovery. šš
- **Investor Warning**: This case highlights the need for extreme caution when encountering unusually high returns. Thorough research and skepticism are crucial to avoid falling prey to scams. šš
- **Regulatory Action**: The SECās decisive action underscores its commitment to investor protection and market integrity, sending a strong message to fraudsters and emphasizing the importance of regulatory compliance. āļøš
- **Ongoing Investigation**: The SECās investigation continues, with potential for further actions and restitution for affected investors. Stay alert and informed to steer clear of fraudulent schemes!
Stay vigilant and safeguard your investments! šØš
#SECCryptoRegulation #CryptoNewss #ponzischeme #TelegramCEO #DOGSONBINANCE
OneCoin founder Ruja Ignatova, who steered one of the worldās biggest cryptocurrency frauds, is back into the spotlight more than five years after vanishing from the public eye.
#BTC #dyor #onecoin #ponzischeme #cryptoonindia
#BTC #dyor #onecoin #ponzischeme #cryptoonindia
Has anybody out there invested in any coin/token that turned out to be a ponzi scheme?
Mcoin is one such Ponzi scheme and i will post about it in detail soon.
beware as crypto grows These scams will also gradually grow stay safe
#scamriskwarning #ponzischeme
Mcoin is one such Ponzi scheme and i will post about it in detail soon.
beware as crypto grows These scams will also gradually grow stay safe
#scamriskwarning #ponzischeme
Is a ponzi scheme a domino effect?
Incredible but true - a Ponzi scheme can be likened to a domino effect. Take care and only invest into projects you can trust. Always #DYOR
1. Early Investors Paid by New Investors: Early investors receive returns not from profit but from the investments of new participants.
2. Constant Need for New Investors: To maintain the appearance of profitability and continue paying returns, the scheme requires a continuous influx of new investors.
3. Inevitability of Collapse: When new investments slow down or stop, the scheme collapses because it can't fulfill the promised returns to earlier investors.
4. Chain Reaction of Losses: As soon as the inflow of new money stops, the lack of funds creates a domino effect where the scheme collapses rapidly, leading to significant losses for most participants.
This chain reaction, similar to a falling line of dominos, highlights the unsustainable nature of Ponzi schemes and the inevitable downfall when the recruitment of new investors halts.
#CryptoTradingGuide #MicroStrategy #ponzischeme
Incredible but true - a Ponzi scheme can be likened to a domino effect. Take care and only invest into projects you can trust. Always #DYOR
1. Early Investors Paid by New Investors: Early investors receive returns not from profit but from the investments of new participants.
2. Constant Need for New Investors: To maintain the appearance of profitability and continue paying returns, the scheme requires a continuous influx of new investors.
3. Inevitability of Collapse: When new investments slow down or stop, the scheme collapses because it can't fulfill the promised returns to earlier investors.
4. Chain Reaction of Losses: As soon as the inflow of new money stops, the lack of funds creates a domino effect where the scheme collapses rapidly, leading to significant losses for most participants.
This chain reaction, similar to a falling line of dominos, highlights the unsustainable nature of Ponzi schemes and the inevitable downfall when the recruitment of new investors halts.
#CryptoTradingGuide #MicroStrategy #ponzischeme
šØ Protect Yourself: How to Avoid Crypto Ponzi Schemes šØ
As crypto enthusiasts, it's crucial to stay vigilant and informed to protect ourselves from falling victim to Ponzi schemes and fraudulent activities. According to a recent FBI report, over 4 billion dollars were reportedly lost from crypto scams, highlighting the importance of being cautious in the digital asset space.
Here are some tips to help you steer clear of Ponzi schemes:
1. Research Thoroughly: Before investing in any crypto project, conduct extensive research on the team, technology, and business model. If they claim to be training, there should always be a record of trade!
2 Watch for Red Flags: Be wary of projects promising guaranteed high returns with little risk. Ponzi schemes often rely on unrealistic promises to lure in unsuspecting investors. Stay alert for any signs of lack of transparency or overly complex structures.
3ļø Verify Information: Double-check all information provided by the project team. Many scam projects use fake addresses and staff and only display business registrations. If they are offering a passive return, that is a securities offering. They must be registered with their local financial regulator to be legal.
4 Trust Your Instincts: If something feels off or too good to be true, trust your instincts and proceed with caution. It's better to be safe than sorry when it comes to your investments.
Let's work together to create a safer crypto community and protect ourselves from falling prey to Ponzi schemes. Stay informed, stay cautious, and together we can navigate the crypto space with confidence. šŖš°
#Binance #BTC100K! #ponzischeme #SCAMalerts
As crypto enthusiasts, it's crucial to stay vigilant and informed to protect ourselves from falling victim to Ponzi schemes and fraudulent activities. According to a recent FBI report, over 4 billion dollars were reportedly lost from crypto scams, highlighting the importance of being cautious in the digital asset space.
Here are some tips to help you steer clear of Ponzi schemes:
1. Research Thoroughly: Before investing in any crypto project, conduct extensive research on the team, technology, and business model. If they claim to be training, there should always be a record of trade!
2 Watch for Red Flags: Be wary of projects promising guaranteed high returns with little risk. Ponzi schemes often rely on unrealistic promises to lure in unsuspecting investors. Stay alert for any signs of lack of transparency or overly complex structures.
3ļø Verify Information: Double-check all information provided by the project team. Many scam projects use fake addresses and staff and only display business registrations. If they are offering a passive return, that is a securities offering. They must be registered with their local financial regulator to be legal.
4 Trust Your Instincts: If something feels off or too good to be true, trust your instincts and proceed with caution. It's better to be safe than sorry when it comes to your investments.
Let's work together to create a safer crypto community and protect ourselves from falling prey to Ponzi schemes. Stay informed, stay cautious, and together we can navigate the crypto space with confidence. šŖš°
#Binance #BTC100K! #ponzischeme #SCAMalerts
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š± Crypto Ponzi in the Church? The Scandal Is Erupting!
The CFTC has filed a lawsuit against Washington, D.C., pastor Francie Obando Pinillo, who defrauded 1,515 parishioners by luring them into a crypto scam.
š° How it all looked:
š¹ Pinillo presented himself as the director of Solanofi and Solano Capital Investments.
š¹ Promised up to 35% profit per month and bonuses for referrals (15% of each invited person).
š¹ Attracted almost $6 million, but in reality... there was not a single deal. All the money went into the pastor's pockets.
š A lesson for all of us:
1ļøā£ If something sounds too good to be true, it most likely is a scam.
2ļøā£ Always check the licenses of companies and the reputation of their founders.
3ļøā£ Don't invest through emotions - study the market.
Take care of your money and beware of false prophets! ššø
#CryptoFraud
#PonziScheme
#FinancialAwareness
The CFTC has filed a lawsuit against Washington, D.C., pastor Francie Obando Pinillo, who defrauded 1,515 parishioners by luring them into a crypto scam.
š° How it all looked:
š¹ Pinillo presented himself as the director of Solanofi and Solano Capital Investments.
š¹ Promised up to 35% profit per month and bonuses for referrals (15% of each invited person).
š¹ Attracted almost $6 million, but in reality... there was not a single deal. All the money went into the pastor's pockets.
š A lesson for all of us:
1ļøā£ If something sounds too good to be true, it most likely is a scam.
2ļøā£ Always check the licenses of companies and the reputation of their founders.
3ļøā£ Don't invest through emotions - study the market.
Take care of your money and beware of false prophets! ššø
#CryptoFraud
#PonziScheme
#FinancialAwareness