pyramids – DIGIT INFO

Over Half of This Year’s Financial Pyramids in Russia Involved Crypto, Bank of Russia Finds

DIGIT — Sun, 17 Jul 2022 08:00:35 +0000

A majority of the financial pyramids identified in 2022 used cryptocurrencies in one way or another, Russia’s central bank announced in a new report. Amid Western sanctions, Russian scams have stepped up their activities, often claiming to be licensed by foreign authorities to offer access to crypto assets. Russian Pyramids Take Advantage of Western Sanctions […]

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Majority of Russia’s Financial Pyramids in Q1 Linked to Crypto, Scammers Exploit Sanctions Topic

DIGIT — Sun, 08 May 2022 10:00:57 +0000

Many of the financial pyramids identified in Russia during the first quarter of the year have been associated with cryptocurrencies, a top central bank official has revealed. Fraudsters are actively exploiting the hot topics of the day, including the sanctions theme. Pyramids Offer Russian Investors Ways to Circumvent Western Sanctions Amid growing financial uncertainty, Ponzi […]

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Bank of Russia Lists Crypto Companies Among Financial Pyramids

DIGIT — Fri, 24 Sep 2021 10:00:44 +0000

The Central Bank of Russia has recently expanded its database of financial market players suspected of illicit activities. Several crypto companies have been added to the list along with entities bearing signs of Ponzi schemes, as well as illegal credit organizations and forex dealers. Central Bank of Russia Blacklists Crypto Platforms As part of its […]

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Bank of Russia Exposes Nearly 150 Financial Pyramid Scams, Fraudsters Exploit Crypto Craze

DIGIT — Fri, 30 Jul 2021 12:30:20 +0000

The Central Bank of Russia (CBR) has identified 146 financial pyramid schemes in only six months this year. Fraudsters often lure people with weak financial literacy into investment scams linked to cryptocurrencies or crypto mining operations. Pyramid Schemes Thrive Amid Rising Investment Demand, Bank of Russia Says The number of financial pyramid scams uncovered by […]

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Half of the ICO Money in Russia Went to Pyramids

DIGIT — Tue, 24 Apr 2018 02:00:26 +0000

Russian ICOs attracted a total of $300 million last year but half of the funds went to financial pyramids, according to the Russian Association of Cryptocurrencies and Blockchain. The organization that represents the crypto community in the country is now working on an ICO standard to help investors distinguish real projects from fraudulent schemes. Russian […]

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