Cryptocurrency Q&A
What are some examples of Ponzi schemes involving cryptoassets?
What are some examples of Ponzi schemes involving cryptoassets?
SolitudePulse
Wed Feb 19 2025
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answers
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Some examples of Ponzi schemes involving cryptoassets include the Forsage platform, which was charged by the SEC for operating as an unregistered securities offering and a Pyramid and Ponzi scheme, defrauding millions of retail investors. Another example is BitConnect, which promised daily returns of 1% but eventually collapsed, leaving investors with significant losses.
6 answers
Sebastiano
Fri Feb 21 2025
This scheme revolved around the bold claim of establishing the world's first "decentralized bank."
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KatanaBlade
Fri Feb 21 2025
A notable instance of a Ponzi scheme in the cryptoasset realm is the ICO of AriseBank, also known as AriseCoin.
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MysticEchoFirefly
Thu Feb 20 2025
Bitconnect's founders also orchestrated a Ponzi scheme, duping investors with promises of high returns.
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Martino
Thu Feb 20 2025
Investors were lured in by the promising prospect of being part of such an innovative financial institution.
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Eleonora
Thu Feb 20 2025
However, the SEC soon intervened and was able to retrieve the funds that were illegally obtained through the ICO.
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