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Donald Trump, Joe Biden, US elections Bitcoin exchange rate today
March 22, 2021March 22, 2021

New crypto pyramids are rapidly being built in Russia

New crypto pyramids are rapidly being built in Russia

The Central Bank noted an increase in the number of financial pyramids posing as cryptocurrency projects, informs «Kommersant».

According to the regulator, several dozen such organizations were identified in the first half of the year. At the same time, the average contribution of each participant is about $ 1.5 thousand, which is 2–3 times higher than in classic pyramids. Typically, such projects lure investors through the network. The victims are most often residents of large cities and central regions of the Russian Federation, since they have a higher level of income.

However, experts note that now investors have become more cautious and are studying startups in more detail before investing in them..

New crypto pyramids are rapidly being built in Russia

First of all pay attention to the team.

New crypto pyramids are rapidly being built in Russia

In addition, some projects conduct a second ICO, which reduces the risk for novice investors and allows them to get acquainted with the product, and not just promises..

New crypto pyramids are rapidly being built in Russia

In addition to the growth in the number of fraudsters in the cryptoindustry, the Central Bank recorded a twofold increase in scams in the financial sector. In the first six months of 2018, almost 1,900 illegal lending firms and 208 forex companies were detected. Only because of the actions of the latter, Russian investors lost about $ 2.4 million. Experts also note the formation of a new business in «return of lost funds», which only helps to part with savings.

Despite some problems in the crypto market, the Bank of England is preparing a new payment infrastructure supporting the blockchain.

text: Ivan Malichenko, photo: Anadolu Agency / Getty images / Forbes Russia 

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