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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
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
JP Morgan CEO reiterated his stance that Bitcoin is “a fraud.”
“If you mean crypto like Bitcoin, I’ve always said it’s a fraud,” Dimon told Bloomberg’s Emily Chang, adding that there is no hope for it as a currency.
He also called Bitcoin a “public decentralized Ponzi scheme,” but conceded that blockchain and smart contracts have value.
“If it's a crypto coin that can do something like a smart contract that has value, there will be smart contracts and blockchain works,” Dimon said. “To the extent crypto is accessing certain blockchain things, that might have some value.”
#bitcoinhalving #JPmorganAnalysis #ponzischeme #BitcoinHodlers #write2earn🌐 $BTC
“If you mean crypto like Bitcoin, I’ve always said it’s a fraud,” Dimon told Bloomberg’s Emily Chang, adding that there is no hope for it as a currency.
He also called Bitcoin a “public decentralized Ponzi scheme,” but conceded that blockchain and smart contracts have value.
“If it's a crypto coin that can do something like a smart contract that has value, there will be smart contracts and blockchain works,” Dimon said. “To the extent crypto is accessing certain blockchain things, that might have some value.”
#bitcoinhalving #JPmorganAnalysis #ponzischeme #BitcoinHodlers #write2earn🌐 $BTC
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
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
Austrian Supreme Court Certifies Lyoness Contracts illegal
The Austrian Supreme Court has ruled that Lyoness’ affiliate contract and compensation plan are illegal.The decision follows legal action taken by the Austrian Association for Consumer Information (VKI). In Austria’s lower courts, VKI argued47 contractual clauses that were part of Lyconet agreements and so-called Lyconet compensation plans … (lacked) transparent regulations and … clarity.VKI’s lawsuit was decided in its favor. The Supreme Court’s ruling reaffirms earlier rulings and is final.As per a January 11th press-release from VKI, specific Lyoness agreement clauses they took issue with were 3-2019, 9-2019 and 1-2021. Compensation clauses include 3-2019, 9-2019 and 1-2021.A large number of the contested clauses were found by the courts to be non-transparent. For example, terms such as “Bonus Units”, “Customer Units”, “Follow-up Units”, “Transfer Units”, “Lifeline”, “Upline”, “Balance Program”, “Career Program”, “Balance Category”, and “Balance Commission” were used, but their specific meaning remained unclear.The first court already stated that these are not terms of general language use and that they are in themselves incomprehensible without further context.They are also not explained sufficiently clearly throughout Lyconet’s rules and regulations.The appeal court added that even after intensive study of the entire set of regulations, it remains completely unclear for average consumers when and to what extent they acquire rights to which remuneration.The Supreme Court has now confirmed this view.As per the Supreme Court’s decision;Affected Lyconet contracts are invalid and consumers can demand a full refund of the payments they have made.Lyoness, aka Lyconet, Cashback World and myWorld, is owned and operated by Austrian national Hubert Freidl (below).Austrian courts previously finding Lyoness to be a pyramid scheme. A related January 11th article from ORF, the Austrian Broadcasting Corporation, cited “over 400 court cases” in Austria alone.Despite this, Freidl is still a free man.Freidl had Lyoness declare bankruptcy in Europe last November. According to filings Lyoness is $110 million in debt. Whether this was a ploy to avoid paying out victims and/or evading criminal proceedings is unclear. Freidl abandoned his FaceBook profile in July 2023. November 2023 posts on Freidl’s Instagram page reveal attempts at marketing Lyoness across Asia, specifically Malaysia.#CryptoScamAwareness #Lyoness #Lyconet #ponzischeme #CryptoScamExposed
What is a Ponzi scheme?
Ponzi schemes are named after Charles Ponzi, an Italian swindler who, in the early 1920s, defrauded hundreds of victims with his deceptive money-making system that ran for over a year. In essence, a Ponzi scheme is a fraudulent investment scam where returns to existing investors are paid from funds contributed by new investors. The flaw lies in the fact that investors in the latter stages may never receive any returns.
The operation of a Ponzi scheme typically follows these steps:
A promoter takes $1000 from an investor, promising to repay the initial amount plus a 10% interest at the end of a set period (e.g., 90 days).The promoter secures two more investors before the 90-day period elapses, using their $2000 to pay the first investor $1100. The first investor is often encouraged to reinvest the initial $1000.By recruiting new investors, the fraudster can fulfill the promised returns to earlier investors, urging them to reinvest and bring in more participants.As the scheme expands, the promoter must continuously attract new investors to sustain it and meet the promised returns.Ultimately, the scheme becomes unsustainable, leading to the promoter's exposure or disappearance with the accumulated funds.
#webgtr #BTC #etf #ARB #ponzischeme
The operation of a Ponzi scheme typically follows these steps:
A promoter takes $1000 from an investor, promising to repay the initial amount plus a 10% interest at the end of a set period (e.g., 90 days).The promoter secures two more investors before the 90-day period elapses, using their $2000 to pay the first investor $1100. The first investor is often encouraged to reinvest the initial $1000.By recruiting new investors, the fraudster can fulfill the promised returns to earlier investors, urging them to reinvest and bring in more participants.As the scheme expands, the promoter must continuously attract new investors to sustain it and meet the promised returns.Ultimately, the scheme becomes unsustainable, leading to the promoter's exposure or disappearance with the accumulated funds.
#webgtr #BTC #etf #ARB #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.
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
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
🚨 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
🚩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
#matic #polybox #ponzischeme
Not a financial advice.
Stay away from the pyramid ponzy scam called polyboxdotfinance
whoever is trying to convince you its legit. is simply because he want your referral percentage.
when you enter for free you gotta be on the website 20 days 24hours non stop to earn 0.6 matic. then youll be hooked like a mouse on a wheel and you'll chase for more and you'll start paying for higher tiers.
you gotta pay to earn. then you pay even more and even more.
look for pyramid schemes, ponzi schemes. and learn how it works. Cheers.
Scammers gotta be monitored on this plateform.
$BNB
Not a financial advice.
Stay away from the pyramid ponzy scam called polyboxdotfinance
whoever is trying to convince you its legit. is simply because he want your referral percentage.
when you enter for free you gotta be on the website 20 days 24hours non stop to earn 0.6 matic. then youll be hooked like a mouse on a wheel and you'll chase for more and you'll start paying for higher tiers.
you gotta pay to earn. then you pay even more and even more.
look for pyramid schemes, ponzi schemes. and learn how it works. Cheers.
Scammers gotta be monitored on this plateform.
$BNB
🚨 Breaking News: SEC Charges Two Brothers in $61 Million Crypto Ponzi Scheme 🚨
The SEC has just announced charges against two brothers involved in a $61 million crypto investment Ponzi scheme. This case is yet another reminder that in the world of crypto, not all that glitters is gold. 🌟
As we navigate the rapidly evolving landscape of digital assets, it's crucial to stay informed and vigilant. Scams like these highlight the importance of due diligence and the need for proper regulation to protect investors.
Whether you're a seasoned investor or just starting out, always remember toDo Your Research: Don't just follow the hype—understand the fundamentals.
Be Skeptical of Unrealistic Returns: If it sounds too good to be true, it probably is.
Trust, But Verify: Ensure that the platform or individuals you're investing with are reputable.
The crypto space holds immense potential, but it's also rife with risks. Let's stay educated, stay safe, and continue to push for a transparent and secure financial ecosystem. 💪
#CryptoMarketMoves #SECCryptoRegulation #ponzischeme #Ponzi #BinanceSquareFamily
$BTC
$ETH
$BNB
The SEC has just announced charges against two brothers involved in a $61 million crypto investment Ponzi scheme. This case is yet another reminder that in the world of crypto, not all that glitters is gold. 🌟
As we navigate the rapidly evolving landscape of digital assets, it's crucial to stay informed and vigilant. Scams like these highlight the importance of due diligence and the need for proper regulation to protect investors.
Whether you're a seasoned investor or just starting out, always remember toDo Your Research: Don't just follow the hype—understand the fundamentals.
Be Skeptical of Unrealistic Returns: If it sounds too good to be true, it probably is.
Trust, But Verify: Ensure that the platform or individuals you're investing with are reputable.
The crypto space holds immense potential, but it's also rife with risks. Let's stay educated, stay safe, and continue to push for a transparent and secure financial ecosystem. 💪
#CryptoMarketMoves #SECCryptoRegulation #ponzischeme #Ponzi #BinanceSquareFamily
$BTC
$ETH
$BNB
Les autorités chinoises répriment un système de Ponzi de crypto-monnaie de 280 millions de dollars. 🇨🇳👮🏻♂️
Dans le cadre d'une avancée majeure, la succursale de Yuanbao du bureau de sécurité intérieure de la ville de Chifeng, en Mongolie intérieure, en Chine, a réussi à démanteler un important système de Ponzi en cryptomonnaie. Opérant depuis Pékin, la plateforme non divulguée utilisait des structures organisationnelles sophistiquées et des tactiques de marketing innovantes, élevant des soupçons d'activités criminelles impliquant des crypto-monnaies.
Avec des opérations couvrant 13 provinces et villes, la plateforme comptait plus de 18 000 membres enregistrés. Le flux total de transactions a dépassé les 2 milliards de yuans (280 millions de dollars), révélant l'ampleur des activités illicites. L’objectif principal du projet était une structure de Ponzi classique.
Les forces de l’ordre chinoises ont rapidement réagi, arrêtant 30 suspects associés à la plateforme de cryptomonnaie. En outre, ils ont gelé près de 10 millions de yuans liés à cette affaire. Des enquêtes sont en cours, et deux principaux suspects se sont rendus volontairement aux autorités.
Cette affaire se déroule dans le contexte de l’interdiction actuelle des actifs de crypto-monnaie par la Chine. Malgré l’interdiction, l’attrait des actifs virtuels persiste, conduisant de nombreux citoyens chinois à accéder aux plateformes de cryptographie via des VPN.
La répression de cette importante chaîne de Ponzi met en évidence l'engagement des autorités à lutter contre les activités illégales dans le domaine des cryptomonnaies. Au fur et à mesure que l’enquête se déroule, elle nous rappelle brutalement les défis posés par l’intersection de la technologie financière et des entreprises criminelles.
#China #cryptocurrency #VPN #ponzischeme #Ponzi
Dans le cadre d'une avancée majeure, la succursale de Yuanbao du bureau de sécurité intérieure de la ville de Chifeng, en Mongolie intérieure, en Chine, a réussi à démanteler un important système de Ponzi en cryptomonnaie. Opérant depuis Pékin, la plateforme non divulguée utilisait des structures organisationnelles sophistiquées et des tactiques de marketing innovantes, élevant des soupçons d'activités criminelles impliquant des crypto-monnaies.
Avec des opérations couvrant 13 provinces et villes, la plateforme comptait plus de 18 000 membres enregistrés. Le flux total de transactions a dépassé les 2 milliards de yuans (280 millions de dollars), révélant l'ampleur des activités illicites. L’objectif principal du projet était une structure de Ponzi classique.
Les forces de l’ordre chinoises ont rapidement réagi, arrêtant 30 suspects associés à la plateforme de cryptomonnaie. En outre, ils ont gelé près de 10 millions de yuans liés à cette affaire. Des enquêtes sont en cours, et deux principaux suspects se sont rendus volontairement aux autorités.
Cette affaire se déroule dans le contexte de l’interdiction actuelle des actifs de crypto-monnaie par la Chine. Malgré l’interdiction, l’attrait des actifs virtuels persiste, conduisant de nombreux citoyens chinois à accéder aux plateformes de cryptographie via des VPN.
La répression de cette importante chaîne de Ponzi met en évidence l'engagement des autorités à lutter contre les activités illégales dans le domaine des cryptomonnaies. Au fur et à mesure que l’enquête se déroule, elle nous rappelle brutalement les défis posés par l’intersection de la technologie financière et des entreprises criminelles.
#China #cryptocurrency #VPN #ponzischeme #Ponzi
🐉Ponzi Schemes and How to Identify Them 🐉
#ponzischeme
#CryptoNewss
A Ponzi scheme is a fraudulent investment operation where returns to earlier investors are paid from the capital contributed by newer investors, rather than from profit earned by the operation of a legitimate business. Named after Charles Ponzi, who became notorious for using this technique in the early 20th century, Ponzi schemes lead to inevitable collapse as they require a continuous influx of new investors to sustain payouts.
🚀Characteristics of Ponzi Schemes:
1. 👉High Returns with Little Risk: Promises of high, consistent returns with little or no risk.
2. 👉Overly Consistent Returns: Claims of unusually consistent returns regardless of market conditions.
3. 👉Unregistered Investments: Investments that are not registered with financial authorities.
4. 👉Unlicensed Sellers: Promoters who are not licensed or registered with recognized financial institutions.
5. 👉Secretive or Complex Strategies: Lack of transparency or overly complex investment strategies that are difficult to understand.
6. 👉Difficulty Receiving Payments: Difficulty in withdrawing funds or receiving payments as promised.
7. 👉Pressure to Reinvest: Encouragement to reinvest earnings instead of taking payouts.
🚀How to Identify a Ponzi Scheme:
1. 👉Investigate the Promoter: Check if the promoter or company is registered with financial authorities.
2. 👉Analyze the Investment : Be wary of investments that promise high returns with little risk or guarantee consistent returns.
3. 👉Understand the Business Model : Ensure you understand how the investment generates returns. Avoid investments that are vague or overly complex.
4. 👉Verify Returns : Compare the promised returns with those of legitimate investments. Consistent, high returns are often a red flag.
5. 👉Check References and Reviews : Look for independent reviews or references. Beware of testimonials that seem too good to be true.
6. 👉Look for Red Flags : Be cautious of any pressure to reinvest, secrecy, or difficulty in withdrawing funds.
Being aware of these characteristics and doing thorough due diligence can help you avoid falling victim to a Ponzi scheme.
#CryptoNewss
A Ponzi scheme is a fraudulent investment operation where returns to earlier investors are paid from the capital contributed by newer investors, rather than from profit earned by the operation of a legitimate business. Named after Charles Ponzi, who became notorious for using this technique in the early 20th century, Ponzi schemes lead to inevitable collapse as they require a continuous influx of new investors to sustain payouts.
🚀Characteristics of Ponzi Schemes:
1. 👉High Returns with Little Risk: Promises of high, consistent returns with little or no risk.
2. 👉Overly Consistent Returns: Claims of unusually consistent returns regardless of market conditions.
3. 👉Unregistered Investments: Investments that are not registered with financial authorities.
4. 👉Unlicensed Sellers: Promoters who are not licensed or registered with recognized financial institutions.
5. 👉Secretive or Complex Strategies: Lack of transparency or overly complex investment strategies that are difficult to understand.
6. 👉Difficulty Receiving Payments: Difficulty in withdrawing funds or receiving payments as promised.
7. 👉Pressure to Reinvest: Encouragement to reinvest earnings instead of taking payouts.
🚀How to Identify a Ponzi Scheme:
1. 👉Investigate the Promoter: Check if the promoter or company is registered with financial authorities.
2. 👉Analyze the Investment : Be wary of investments that promise high returns with little risk or guarantee consistent returns.
3. 👉Understand the Business Model : Ensure you understand how the investment generates returns. Avoid investments that are vague or overly complex.
4. 👉Verify Returns : Compare the promised returns with those of legitimate investments. Consistent, high returns are often a red flag.
5. 👉Check References and Reviews : Look for independent reviews or references. Beware of testimonials that seem too good to be true.
6. 👉Look for Red Flags : Be cautious of any pressure to reinvest, secrecy, or difficulty in withdrawing funds.
Being aware of these characteristics and doing thorough due diligence can help you avoid falling victim to a Ponzi scheme.
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
🚨 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
