pyramid scheme

The creators of the PlusToken cryptocurrency wallet are suspected of stealing about $3 billion worth of their customers' crypto assets. Users of the wallet report on social networks that they have not been able to withdraw their money since June 27. The platform's token rate on June 29 froze at...

The U.S. Securities and Exchange Commission (SEC) has accused the founders and promoters of NovaTech of organizing a pyramid scheme that raised more than $650 million in crypto assets. Cynthia and Eddie Petion's NovaTech Ltd. has raised funds from more than 200,000 investors worldwide...

Criminals controlled the victims computers through remote access programs. As a result of a joint operation of the law enforcement agencies of Romania and Moldova, a large international criminal group specializing in financial fraud on the Internet was uncovered. The criminals deceived more...

A New York jury found two former promoters of the IcomTech cryptocurrency pyramid scheme guilty of conspiracy to use electronic means of fraud. This is reported by the US Department of Justice. According to the case file, Gustavo Rodriguez has been creating a website for IcomTech, which...

The US Securities and Exchange Commission (SEC) has charged 17 people with creating the CryptoFX cryptocurrency pyramid scheme, which raised over $300 million. CryptoFX LLC was registered in the state of Texas and is mainly focused on Latin American users. The organizers managed to attract over...

Ponzi vs: Pyramid Scheme: An Overview Pyramid schemes and Ponzi schemes have many similar characteristics based around the same concept: unsuspecting individuals get fooled by unscrupulous investors who promise them extraordinary returns in exchange for their money. However, in contrast to a...

What Is a Pyramid Scheme? A pyramid scheme is an illegal investment scam based on a hierarchical setup of network marketing. The most famous kind of pyramid scheme is, perhaps, the Ponzi scheme. New recruits make up the base of the pyramid and provide the funding, or so-called returns, in the...