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Argentina vs. Crypto Ponzi: $3.5 million in USDT frozen! 💥
Another loud scandal in the crypto world! 🌐 Argentina conducted a large-scale operation, freezing $3.5 million in USDT related to the Rainbowex platform. 💸
As a result of the investigation, 10 people have been arrested, accused of creating an alleged Ponzi scheme. 🕵️♂️ 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. 🤔 This is a signal for the crypto community: invest wisely, verify projects, and do not trust those who promise "golden mountains" without risk. 🚩
Share your thoughts! Is there a need for increased oversight of cryptocurrency platforms or are such actions just hindering the development of the industry? 💬
#CryptoNews #PonziScheme #Argentina #USDT
Another loud scandal in the crypto world! 🌐 Argentina conducted a large-scale operation, freezing $3.5 million in USDT related to the Rainbowex platform. 💸
As a result of the investigation, 10 people have been arrested, accused of creating an alleged Ponzi scheme. 🕵️♂️ 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. 🤔 This is a signal for the crypto community: invest wisely, verify projects, and do not trust those who promise "golden mountains" without risk. 🚩
Share your thoughts! Is there a need for increased oversight of cryptocurrency platforms or are such actions just hindering the development of the industry? 💬
#CryptoNews #PonziScheme #Argentina #USDT
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😱 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.
💰 How it all looked:
🔹 Pinillo presented himself as the director of Solanofi and Solano Capital Investments.
🔹 Promised up to 35% profit per month and bonuses for referrals (15% of each invited person).
🔹 Attracted almost $6 million, but in reality... there was not a single deal. All the money went into the pastor's pockets.
📉 A lesson for all of us:
1️⃣ If something sounds too good to be true, it most likely is a scam.
2️⃣ Always check the licenses of companies and the reputation of their founders.
3️⃣ Don't invest through emotions - study the market.
Take care of your money and beware of false prophets! 🙏💸
#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.
💰 How it all looked:
🔹 Pinillo presented himself as the director of Solanofi and Solano Capital Investments.
🔹 Promised up to 35% profit per month and bonuses for referrals (15% of each invited person).
🔹 Attracted almost $6 million, but in reality... there was not a single deal. All the money went into the pastor's pockets.
📉 A lesson for all of us:
1️⃣ If something sounds too good to be true, it most likely is a scam.
2️⃣ Always check the licenses of companies and the reputation of their founders.
3️⃣ Don't invest through emotions - study the market.
Take care of your money and beware of false prophets! 🙏💸
#CryptoFraud
#PonziScheme
#FinancialAwareness
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Chinese authorities crack down on $280 million cryptocurrency Ponzi scheme. 🇨🇳👮🏻♂️
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
🚩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 😆😅)• 1044Pro• 5 Billion Sales• 50/50 Crowdfunding (reboot to CoopCrowd)• 4QLife• 8 Figure Dream Lifestyle• ABA Marketing (rebooted to 7 Flags Club) • ACN• Affluence Network• AI Marketing (reboot to CashBackPro)• Alliance In Motion Global (AIM Global)• AirBit Club• Alcor Trade (former Antares Trade)• Algotech (rebooted as WinWheel)• Allied Wallet• Alluyssian Sciences• Alovea• Aluva• Antares Trade (reboot to Alcor Trade)• AmpLIFEi• Antis Capital• AntUSD• Apex Financial• Aplex VA (part of Throne Legacy Capital)• Appi Travels• Arctic Nutrition• Areons• Artery Network• Assure For Life• Atteva• AuBit (rebooted as Freeway) • Average Joe Profit System • AuLives (acquired by Validus, merged)• Aura 4 Finance• AutoTrade Gold (Panthera Trade Technologies, LegoMarket LLC, Pansaka)• Auvoria Prime •Baccarat• Bakuhatsu • Belfast Capital Group • Bastion Invest• BE, Be Rules or Be Factor (former Mellius)• Be International• Bedrock Experts• Better Globe (prev Green Planet) • Beurax• Beyond• Bitassets Venture• BitClub Network • BitCoiin• BitcoLoan• BitConnect • Bitflow Asset• Bitles• BitLocity• BitPayProfits• BitPlam• BitRobot• BitWings• Bixo Money (former BixoTrade)• BlackOxygen Organics• Blessings In No Time (BINT)• Blockchain Capital• Blockchain Global (ACX)• Block Consult• BloxTec• BNB33 Club• BNBBusiness • BNB Profit• BNB Stake• BoldGains International• Bomb Party• BotTronic• Bruxis Trading• Bulavita• Juuva (former Wakaya Perfection)• BullRun• Cannerald• CashBack Marketing• CashBackPro (former AI Marketing)• Calerie• Carcoin• Cash Forex Group (CashFX)• CBI Global (reboot from Uhuru Tribe)• Centurion Global (former Ducatus Network)• CHY Mall• ClearUnited• CoinChain Digital• CoinOption• Cloud Horizon • Cloud Token• ClubShop• Commodum• Common Sense Wellnes Worldwide• Conligus (sold to OneCoin)• CTCoin (Control Traders)• Control Finance• Coop5050 (former CoopCrowd and 50/50 Crowdfunding• Cooperative Crowdfunding• CopyProTraders• Corsair Group (Cloud Horizon) • Crowd 1 (Planet IX) • Crowdbridge Global • Crunchi• CrypArena• Crypto Advice (Mended Minds, Secugenius, QuickX)• Cryptoberg• CryptobestFX247• Cryptolon• CryptoSook• CryptoSpot• CubeBit (reboot to CubeBit 2.0)• CVC Funding• CyberChain • DagCoin • Daisy AI • Daxio• DDKoin• DeFiNatics• DigiCoin• Digital Income Systems• Digital Money Markets• Digital Profit• Direct Cellars• Divine Prosperity Blossom• doTerra• Driven Properties• Ducatus Network (reboot to Centurion Global)• DuoLife•Eclipcity Global• Eaconomy (partnered with Beyond Wealth)• Easy1Up• EclipCity Global • EcoTrade• eComelize • Edain (EAI token)• Elamant• Elevate Pass• Elixoo• Elon Musk scam• Elysium Capital• Elysium Network • EndoTech• EmpiresX • Empowered Consumerism (AIM Global)• Enigro Group (rebooted to The Opportunity Network)• eOracle (reboot to Espian Global)• Epika Global• Espian Global (former eOracle) • EtherScan • EtherConnect• Evo Binary• Evolution Gifting Community• EvoRich (Skywaay Capital / NEEW) • Exove Investment• Exp Realty• Expo R&M• F2S Fund• Family First Life• EzyTRX (reboot to EzyTRX II)• Finalmente Global • Finance & Business Consulting (FBC)• Financial Education Services• Finiko• Flexkom (rebooted to Weeconomy)• Fola Global (FamilyMart)• FomoEx• Forsage BUSD (former Forsage, Fortron, Forsage Tron, Forsage XGold)• Freebay (former G999) • Freedom Group• FirstCoin Club • FutureNet• Future Maker Life Care• Futurion Finance•Gameas• Ganancias Deportivas• G999 (GSPartners, in partnership with Driven Properties)• GainBTT• GetOn Global • Gifting Community• Gift Of Legacy• Global I Gold Online (GIG-OS) (former EmGoldex and Global InterGold)• GladiaCoin• Globalytics Tech Research (rebooted from Jubilee Ace) • Global I Gold Online • Global Investment Trading (dba Liyeplimal)• Global Sponsorship Network (GSN) reboot from OneLink• Global Technology & Innovation • Global Trading Club• Go9Tro• GoFounders• GreenChoyce• GreenGold• GriddyPro•Headway Capital (clone of Ax Trader)• Hulsa• Hustle With Us• HybridTech Global • HyperFund (former HyperCapital)• HyperMining (HyperTech)• Hyperverse/ HyperVerse Ecosystem, short VerseEco, consists of Nebula, Galaxy Decentralized Capital and VerseDAO, HyperCash, HU, MOF, HVT, HDAO, partnership Genaro Network (GNX token)•IAM Worldwide• iBG Finance• iBuumerang/Ellev8 (former Countdown4Freedom)• IDentityUSA• i-Fern• iGenius• iHub Global• Ilgamos (reboot to ILGON)• Impero Solutions• (reboot from EurekaCoin)• INB Network (CashBackPro, former AI Marketing)• InCruises• Indusviva• Infinity Global (Bitex)• Infinity2Global• InnerQuest Global • IM Mastery Academy• Impero Solutions• Incomatrix• Innov8tive Nutrion• Intelligence Prime Capital (IPC Trade, IPCapital)• Intense Live• International TEFL Organization• Investrix• Investview (reboot as Kuvera Global, brand iGenius)• Infinity Loops• iPro Network (ProCurrency, PROC)• IQ Chain (rebranded to IQ Legacy) • IQ 5050 • iQuandex• Isagenix• iX Global• IX Inversors•Jaa LifeStyle• JetCoin• Jeuness• JN Jewelry• Jonny Blockchain• Jubilee Ace • Just Been Paid 2020• Karatbars International (LifeBase, G999, Freebay)• Kevlar Gifting Communities (reboot to Gifting Communities)• Kindred Hearts• King Finance• KOK Play• Kripto Future• Kryptogenex• Lifestyle Marketing Group• Kuailian Eco-system• Kynect Energy (acquired by ACN)• Laetitude• Learn Build Lead (LBL)• LeoTrade• Level Up 247• LifeBase • Lion's Share• Liv Labs• Liyeplimal Crypto MLM System• Lobto• Longrich• Lucky Dozens• Lueur Lauren International• LuLaRoe• Lyconet• Lyoness• Mag Markets• Majesty Hash pro• MarfinFX• Maskcara (rebranded as Seint) Matt Bot AI• Matic Business• Matrix Pro• Matrix Pro Leads• MBI International• Medical Marketing Project (MMP)• Mfinity Global (former Bulavita)• Mido Finance• Mindset 24 Global• Mined• Mined Capital• Minerva Trading Bot (CMC Invest)• Mining City• MineRift• Mint Builder• Mirollex• Mirror Trading International • MMM Global• MOBE (QualPay)• Model Farming• Monat• Monetize 911• MoneyTime• Monk Trading Investment• MultiplyWESA• MVR Life• My Blockchain Life• MyCOM• MyCryptoWorld• My Daily Choice• My Freedom in 365• MyGBit Mining• My Passive Trades• myWorld (Lyoness)•Nacometa• Namiro • Nano Club • Nano Crowd • Navan Global (sold to Ariix)• NBH Finance (NBH Group)• Ncrease• Neora (formerly Nerium International) • NewChoyce• New Economic Evolution of the World (NEEW)• NextLevelX• Nexyiu• Nimbus Platform• Nominex• NortheStar• Nowsite Marketing• NRGY GO• NuSkin• Nussentials• Nu Xtrax• Nutonic•Omega Digital• Omegapro Forex • OneCoin • One Eco System (rebranded to OneLife Network) OneDealer AS Norway • OneLife Network • OneLink (Global Sponsorship Network) • OnPassive • Onward Capital• Oola Global• Open Alexa• Opportunity Network (sold to OneCoin)• Orientum • OrbiXVictus (AIM Global) • Orion Finance• Ormeus Global • Oro One• OSM Software Solutions• O'Snap• OXO Worldwide•PandaTron• Paparazzi Accessories• PartyLite• Passive Tron Profits• Paytron BTC• PBX Trading (former Premium Business)• PetronPay• Phenomenal Club• PIE 24/7• Pipz• Post 2 Profits• Praetorian Global International (PGI)• PlusToken (World Blockchain Forum)• PowerPost Profits• Powur• Primary the Ruling Class • Premium Business • Prime International Club• PrivaFund• Prizm• ProCash• Profit Connect• Project Lantern•QNet (rebranded from GoldQuest) • Qtrex• Quaestor Solutions (Quaestor Coin)• QubitLife (rebranded from QubitTech)• Questra World•R Network• RE247365• Recylix• Redwood Scientific Technologies• RengaLife• Riseoo• Riway• Robot22 Trade• Rostek Global• Royal Returns• Roy Club• Royal Q (Sec gov ph)• Safir International • Salvia• SamKoin• Scentsy• Scout & Cellar• SDK Meta• SeedChange• Senexa• SHA-256• ShynXL• Silver Icing• Silver Partners for Profits• SilverStar Live (renamed AI Global, and then again to Ai Expert Advisor)• Silwana Global• Sincere Systems (rebooted as S-Group)• SiteTalk • Six Sigma Trade• SkyWay Capital, CryptoUnits (rebooted to Unitsky String Technologies) • SmartHashes• SmashFund• SnapBots• Snap Delivered• SofTrade AI• Solar Group• Solar Oil Project• Solmax Global• Solvasa• Speed Finance Club• Success By Health• Success Factory• SuperDraft Pro (SuperSports Global)• Swag (Swag Mining, Swag Network)• SwapIT • SwissCoin •Tapestri• Team Travel MVP• TechVision• Telepreneur Corp• Teqra• The $100 System• The Happy Co• The Perfect System• The PLR System The Prosperity Grid • The Token Network• TheClub.Travel• TelexFree• Toga Limited (reboot to Eostre Berhad)• Torque Trading (TORQ)• Touchstone Success• Torexo Finance• TRVL• Tradera• Trading Insight• Traffic Monsoon• TriumphFX• TronBase• TronCarry• TronCase• TronChain • Tronconomy• TronPlus• TronThunder• Trujivan• Trunited• Trust Investing• Tulian Investment• Turbo Crypto• Twindax• Twin TurboTRX• Unaico • Universal Abundance • Up2Give (U2G Network) • UpMoney• Upnomix• UR Worth It• Ushare• Uulala• Unity Line Builders• Upistic•Vantel Pearls• Vida Divina• Viral Compensation• Visalus Sciences• Viseming• Vitae• Viv• Vollara• VR Tron500• VRDa1•Wakaya Perfection (sold to LaCore Enterprises) WantageOne • WaterMine• Wazzub• We Share Abundance• Weter• Wiseling • Wiseming• Workxon• World Crypto Life• World Enhanced Wealth Ecosystem Global (WeWe Global) • WorldVentures (acquired by Verona International Holdings, rebooted as DreamTrips)• World Wealth Club •Xellis (former Natura4Ever)• XEMXLink• Xifra LifeStyle• Xtreme Pro System•YEP• Youngevity•Zax• Zeek Rewards• Zeniq Coin • Zeonis• ZetBull• Zomoney• Zukul Gold• Zukul Trading#BTC #Ponzi #ponzischeme #scammers. #Cryptoscam
Chinese Authorities Crack Down on $280 Million Cryptocurrency Ponzi Scheme. 🇨🇳👮🏻♂️
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
EvoRich’s 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 Prosecutor’s Office, the Moscow court based Khovratov’s 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 Khovratov’s remains wanted by Russian authorities.#Evorich #ponzischeme #mlm #pyramidscheme #CryptoScamExposed
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.IN’s website domain (“omegapro. in”), 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 UK’s FCA outright banned MLM cryptocurrency investment schemes on October 8th, 2023.
Further to OmegaPro.IN’s regulatory problems, France’s 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, it’s 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.IN’s website domain (“omegapro. in”), 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 UK’s FCA outright banned MLM cryptocurrency investment schemes on October 8th, 2023.
Further to OmegaPro.IN’s regulatory problems, France’s 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, it’s 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
🚨 In Crypto History Top 10 Biggest Scams 🚨
Delve into the murky world of crypto fraud with these notorious scams that rocked the industry and cost investors billions.
1️⃣ BitConnect (2016-2018)
BitConnect promised high returns through a lending program but was revealed as a Ponzi scheme. It collapsed, causing billions in losses.
2️⃣ 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.
3️⃣ 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.
4️⃣ PlusToken (2018-2019)
PlusToken defrauded investors of over $2 billion with promises of high returns before its operators were arrested.
5️⃣ 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.
6️⃣ BitClub Network (2014-2019)
BitClub Network scammed investors out of $722 million with a fraudulent mining pool operation before its founders were arrested.
7️⃣ WoToken (2018-2020)
Similar to PlusToken, this Chinese Ponzi scheme defrauded investors of over $1 billion before its operators were caught.
8️⃣ Thodex (2021)
The Turkish exchange halted trading abruptly, and its CEO fled with $2 billion of investor funds.
9️⃣ Africrypt (2021)
Two South African brothers allegedly stole $3.6 billion in Bitcoin from their platform and disappeared.
🔟 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.
📈 #CryptoScams #CryptoFraud #BitcoinScams #ponzischeme #StaySafeCrypto
✅ Like ❤️ | Comment 💬 | Share 🔁
👉 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.
1️⃣ BitConnect (2016-2018)
BitConnect promised high returns through a lending program but was revealed as a Ponzi scheme. It collapsed, causing billions in losses.
2️⃣ 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.
3️⃣ 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.
4️⃣ PlusToken (2018-2019)
PlusToken defrauded investors of over $2 billion with promises of high returns before its operators were arrested.
5️⃣ 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.
6️⃣ BitClub Network (2014-2019)
BitClub Network scammed investors out of $722 million with a fraudulent mining pool operation before its founders were arrested.
7️⃣ WoToken (2018-2020)
Similar to PlusToken, this Chinese Ponzi scheme defrauded investors of over $1 billion before its operators were caught.
8️⃣ Thodex (2021)
The Turkish exchange halted trading abruptly, and its CEO fled with $2 billion of investor funds.
9️⃣ Africrypt (2021)
Two South African brothers allegedly stole $3.6 billion in Bitcoin from their platform and disappeared.
🔟 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.
📈 #CryptoScams #CryptoFraud #BitcoinScams #ponzischeme #StaySafeCrypto
✅ Like ❤️ | Comment 💬 | Share 🔁
👉 Follow for more updates! @KhannAmirr
🕵️♂️ 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.
🥷 Scammers frequently use the “pig butchering” scheme, where they initially lure victims with small gains to build trust and confidence, only to later exploit them for a significant loss. 🐖🔪
beware of this scam project..
specially pakistani and indian community.
#scammeralert
#ponzischeme
🥷 Scammers frequently use the “pig butchering” scheme, where they initially lure victims with small gains to build trust and confidence, only to later exploit them for a significant loss. 🐖🔪
beware of this scam project..
specially pakistani and indian community.
#scammeralert
#ponzischeme
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.
🚨 SEC CRACKS DOWN ON ALLEGED CRYPTO PONZI SCHEME: A COMPREHENSIVE ANALYSIS 🚨
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. 🌐💥
Here’s what you need to know:
- **Ponzi Scheme Allegations**: The SEC accuses the operators of orchestrating a classic Ponzi scheme, using new investors’ funds to pay earlier ones while promising unrealistic returns. This unsustainable model relies on a never-ending influx of new capital. 🌀💸
- **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. 🤖🚫
- **Frozen Assets**: The SEC’s asset freeze aims to halt fraudulent activities and protect potential victims, preserving assets for possible recovery. 🛑🔒
- **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. 📉🔍
- **Regulatory Action**: The SEC’s decisive action underscores its commitment to investor protection and market integrity, sending a strong message to fraudsters and emphasizing the importance of regulatory compliance. ⚖️🚀
- **Ongoing Investigation**: The SEC’s 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! 🚨🔎
#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. 🌐💥
Here’s what you need to know:
- **Ponzi Scheme Allegations**: The SEC accuses the operators of orchestrating a classic Ponzi scheme, using new investors’ funds to pay earlier ones while promising unrealistic returns. This unsustainable model relies on a never-ending influx of new capital. 🌀💸
- **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. 🤖🚫
- **Frozen Assets**: The SEC’s asset freeze aims to halt fraudulent activities and protect potential victims, preserving assets for possible recovery. 🛑🔒
- **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. 📉🔍
- **Regulatory Action**: The SEC’s decisive action underscores its commitment to investor protection and market integrity, sending a strong message to fraudsters and emphasizing the importance of regulatory compliance. ⚖️🚀
- **Ongoing Investigation**: The SEC’s 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! 🚨🔎
#SECCryptoRegulation #CryptoNewss #ponzischeme #TelegramCEO #DOGSONBINANCE
OneCoin founder Ruja Ignatova, who steered one of the world’s 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
Emergency News: Plus Token Ponzi Scheme Alert 💰🚨🤔‼️
🇨🇳 China Moves $2B Ethereum Seized In Ponzi Scheme, Bitcoin & XRP Next? 👀
On Wednesday, hundreds of wallets moved $2 billion Ethereum seized by Chinese police in 2021 after authorities cracked down on the Plus Token ponzi scheme.
#ponzischeme #Write2Earn! #KaleemsCryptoMehfilKCM #MarketDownturn #Megadrop
🇨🇳 China Moves $2B Ethereum Seized In Ponzi Scheme, Bitcoin & XRP Next? 👀
On Wednesday, hundreds of wallets moved $2 billion Ethereum seized by Chinese police in 2021 after authorities cracked down on the Plus Token ponzi scheme.
#ponzischeme #Write2Earn! #KaleemsCryptoMehfilKCM #MarketDownturn #Megadrop
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
🚨 Protect Yourself: How to Avoid Crypto Ponzi Schemes 🚨
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.
3️ 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. 💪💰
#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.
3️ 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. 💪💰
#Binance #BTC100K! #ponzischeme #SCAMalerts
#MichaelBurry : 💸 When the interest on your debt eclipses your tax income, your country is a #ponzischeme 👀
#Bitcoin❗ solves this.
#MemeCoinTrending #BTCBreaks66K $BTC
#Bitcoin❗ solves this.
#MemeCoinTrending #BTCBreaks66K $BTC
Charles Ponzi: The Most Famous Conman in History❗🥸🥸🥸
Charles Ponzi: The Most Famous Conman in History
Charles Ponzi, one of history’s most notorious conmen, became infamous for orchestrating one of the largest financial frauds of the early 20th century, forever associating his name with the term "Ponzi Scheme." His rise and fall serve as a classic tale of greed, deceit, and the allure of too-good-to-be-true investments.
The Early Life of Charles Ponzi
Charles Ponzi was born in Lugo, Italy, in 1882 and emigrated to the United States in 1903 with dreams of wealth and success. Despite his ambition, Ponzi struggled to find steady employment, drifting between odd jobs and petty crimes. After a series of failed ventures and a brief stint in prison for forging checks, Ponzi set his sights on a grander scheme that would ultimately make him a household name.
The Birth of the Ponzi Scheme
Ponzi's infamous scheme began in 1919 when he founded the Securities Exchange Company in Boston. He promised investors extraordinarily high returns—50% in 45 days or 100% in 90 days—by supposedly exploiting price differences in international postal reply coupons. Ponzi claimed he could buy these coupons cheaply in one country and sell them for a profit in another, capitalizing on currency exchange rates.
In reality, Ponzi was not investing in coupons at all. Instead, he used the money from new investors to pay off earlier investors, creating the illusion of a profitable and legitimate business. This strategy, known today as a Ponzi scheme, relies on a continuous influx of new investments to pay returns to earlier investors, without generating any actual profit.
The Rise and Fall of Ponzi
At the height of his scheme, Ponzi was raking in millions of dollars, living lavishly in a mansion and enjoying a lifestyle of luxury. He became a media sensation, hailed as a financial genius, and attracted thousands of investors, including working-class individuals who entrusted their life savings to him.
However, Ponzi’s empire was built on a fragile foundation. In 1920, investigative journalists and federal authorities began to scrutinize his business practices. A series of audits revealed that Ponzi was deeply in debt, and there were no substantial assets backing his promises. The house of cards collapsed quickly, and in August 1920, Ponzi was arrested. He pleaded guilty to mail fraud and was sentenced to prison.
Legacy of the Ponzi Scheme
Charles Ponzi’s scam is often seen as a cautionary tale of greed, gullibility, and the dangers of high-risk investments. His scheme not only defrauded thousands of investors but also left a lasting impact on financial regulations, prompting stricter oversight and anti-fraud measures in the financial markets.
Ponzi was released from prison in 1934 and was deported to Italy, spending his final years in poverty. He died in 1949, leaving behind a legacy as one of the most infamous swindlers in history.
Charles Ponzi’s story remains relevant today as a reminder of the perils of unchecked ambition and the importance of skepticism in investing. His name has become synonymous with fraudulent schemes that prey on human trust and greed, forever marking him as the quintessential conman of the modern era.
#ponzischeme #Ponzi #scamriskwarning #DODOEmpowersMemeIssuance
$DODO $IOTX $APT
Charles Ponzi, one of history’s most notorious conmen, became infamous for orchestrating one of the largest financial frauds of the early 20th century, forever associating his name with the term "Ponzi Scheme." His rise and fall serve as a classic tale of greed, deceit, and the allure of too-good-to-be-true investments.
The Early Life of Charles Ponzi
Charles Ponzi was born in Lugo, Italy, in 1882 and emigrated to the United States in 1903 with dreams of wealth and success. Despite his ambition, Ponzi struggled to find steady employment, drifting between odd jobs and petty crimes. After a series of failed ventures and a brief stint in prison for forging checks, Ponzi set his sights on a grander scheme that would ultimately make him a household name.
The Birth of the Ponzi Scheme
Ponzi's infamous scheme began in 1919 when he founded the Securities Exchange Company in Boston. He promised investors extraordinarily high returns—50% in 45 days or 100% in 90 days—by supposedly exploiting price differences in international postal reply coupons. Ponzi claimed he could buy these coupons cheaply in one country and sell them for a profit in another, capitalizing on currency exchange rates.
In reality, Ponzi was not investing in coupons at all. Instead, he used the money from new investors to pay off earlier investors, creating the illusion of a profitable and legitimate business. This strategy, known today as a Ponzi scheme, relies on a continuous influx of new investments to pay returns to earlier investors, without generating any actual profit.
The Rise and Fall of Ponzi
At the height of his scheme, Ponzi was raking in millions of dollars, living lavishly in a mansion and enjoying a lifestyle of luxury. He became a media sensation, hailed as a financial genius, and attracted thousands of investors, including working-class individuals who entrusted their life savings to him.
However, Ponzi’s empire was built on a fragile foundation. In 1920, investigative journalists and federal authorities began to scrutinize his business practices. A series of audits revealed that Ponzi was deeply in debt, and there were no substantial assets backing his promises. The house of cards collapsed quickly, and in August 1920, Ponzi was arrested. He pleaded guilty to mail fraud and was sentenced to prison.
Legacy of the Ponzi Scheme
Charles Ponzi’s scam is often seen as a cautionary tale of greed, gullibility, and the dangers of high-risk investments. His scheme not only defrauded thousands of investors but also left a lasting impact on financial regulations, prompting stricter oversight and anti-fraud measures in the financial markets.
Ponzi was released from prison in 1934 and was deported to Italy, spending his final years in poverty. He died in 1949, leaving behind a legacy as one of the most infamous swindlers in history.
Charles Ponzi’s story remains relevant today as a reminder of the perils of unchecked ambition and the importance of skepticism in investing. His name has become synonymous with fraudulent schemes that prey on human trust and greed, forever marking him as the quintessential conman of the modern era.
#ponzischeme #Ponzi #scamriskwarning #DODOEmpowersMemeIssuance
$DODO $IOTX $APT
Con argument: Meme coins are just a fun Ponzi
There I said it and I stand by it. Meme coins are just a fun Pozi scheme.
Why:
The nature of meme coins, Meme coins are in other words coins made as a joke. The whole point of buying this coin/token is to hopefully be able to dump these tokens on someone else for some profit. Thats IT. When you buy a meme coin your someone else's liquidity. You buy a meme coin not because you think the coin will have a use case in the future but because you think you can dump it on another guy. And that guy thinks he can dump it on another guy, etc, etc. All until the guy doesn't have anyone to sell the coin to and the price plummets. I just described a Ponzi.
Why do people buy meme coins in the first place? Well because they see people posting 100000000% gains. You get greedy so when some random guy on Twitter tells you that X coin will flip eth you drop your whole bag in. Then either 2 things happen. A) Coin gets rugged you sad. B) Coin goes up! Your in the green but instead of selling you and others start shilling the coin everywhere hoping to pump more! You get stuck in an echo chamber. Fuel ends and you're holding the bag. You are sad.
The difference between meme coins and other coins is well other coins have actual use cases. You buy other coins, yes because you think you can sell it for more but chances are you believe in the coins tech's future success so it will reach your desired price.
Meme coin = Pure hype
Other coins = You believe in the success of the tech
So TLDR: Every time you buy a meme coin, your hoping you can sell it to someone else for more. But chances are once you hear about the coin its already at or close to the peak. DYOR as always and always assume meme coins will go to 0. As the majority do.
#Meme #memecoins #ponzischeme #ponzi #dyor
Why:
The nature of meme coins, Meme coins are in other words coins made as a joke. The whole point of buying this coin/token is to hopefully be able to dump these tokens on someone else for some profit. Thats IT. When you buy a meme coin your someone else's liquidity. You buy a meme coin not because you think the coin will have a use case in the future but because you think you can dump it on another guy. And that guy thinks he can dump it on another guy, etc, etc. All until the guy doesn't have anyone to sell the coin to and the price plummets. I just described a Ponzi.
Why do people buy meme coins in the first place? Well because they see people posting 100000000% gains. You get greedy so when some random guy on Twitter tells you that X coin will flip eth you drop your whole bag in. Then either 2 things happen. A) Coin gets rugged you sad. B) Coin goes up! Your in the green but instead of selling you and others start shilling the coin everywhere hoping to pump more! You get stuck in an echo chamber. Fuel ends and you're holding the bag. You are sad.
The difference between meme coins and other coins is well other coins have actual use cases. You buy other coins, yes because you think you can sell it for more but chances are you believe in the coins tech's future success so it will reach your desired price.
Meme coin = Pure hype
Other coins = You believe in the success of the tech
So TLDR: Every time you buy a meme coin, your hoping you can sell it to someone else for more. But chances are once you hear about the coin its already at or close to the peak. DYOR as always and always assume meme coins will go to 0. As the majority do.
#Meme #memecoins #ponzischeme #ponzi #dyor