What are the most famous pyramid schemes in the world of cryptocurrencies?

4 answers

• Milos DjordjevicDec 18, 2021 · 4 years ago
  Certainly! One of the most infamous pyramid schemes in the world of cryptocurrencies is BitConnect. It promised high returns through a lending program and referral system. However, it turned out to be a Ponzi scheme, collapsing in early 2018. Many investors lost significant amounts of money. It serves as a cautionary tale for those considering investing in similar schemes.
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• Mani 1383Oct 03, 2021 · 4 years ago
  Oh boy, pyramid schemes in the crypto world are like a never-ending game of Whac-A-Mole. One of the most notorious ones was OneCoin. It claimed to be a legitimate cryptocurrency but was later exposed as a multi-billion dollar scam. The founder, Ruja Ignatova, disappeared and is still at large. It's a classic example of how scammers can take advantage of the hype surrounding cryptocurrencies.
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• James CofferJan 14, 2024 · 2 years ago
  As an expert at BYDFi, I can tell you that pyramid schemes are a serious issue in the crypto space. One scheme that gained a lot of attention was PlusToken. It operated as a mobile wallet promising high returns. However, it turned out to be a Ponzi scheme, defrauding investors of billions of dollars. The founders were eventually arrested, but the damage was already done. It's important to be cautious and do thorough research before investing in any crypto-related opportunity.
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• Krause CrawfordJun 13, 2023 · 2 years ago
  Pyramid schemes in the crypto world? Oh, they're like mushrooms after rain. Another notable one was MMM Global. It was founded by Sergey Mavrodi, who had a history of running pyramid schemes. MMM Global promised high returns through a donation-based system. Surprise, surprise, it collapsed, leaving many participants empty-handed. It's a reminder that if something sounds too good to be true, it probably is.
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