Kazakhstan Investigates Crypto Mining Hotel Allegedly Operating as Ponzi Scheme
Authorities in Kazakhstan have launched an investigation into a mining hotel business suspected of being a crypto pyramid as part of an ongoing crackdown on illegal activities linked to cryptocurrencies. The platform, called Bincloud, lured investors through popular messaging apps. Bincloud Operators Kept 16% of Investors’ Funds for Themselves Amid intensified efforts to fight crypto-related fraud, Kazakhstan’s Financial Monitoring Agency has initiated a pre-trial investigation into a crypto mining business allegedly working as a financial pyramid scheme. It’s led by....
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Law enforcement in Kazakhstan detained members of a crime group suspected of forcing IT experts into operating underground facilities for cryptocurrency mining with threats and blackmail. The racketeers allegedly made up to half a million U.S. dollars a month from their business.
Kazakhstan Busts Illegal Crypto Mining Organization, Detains Dozens
Authorities in Kazakhstan have arrested a group of “criminally oriented individuals” and former convicts who pressured people savvy in information and crypto technology to run illegal installations for cryptocurrency....
Three companies allegedly running a large-scale cryptocurrency Ponzi scheme are being investigated by Indian police. The scheme promises extraordinary returns to investors. The police have registered a case against the alleged CEO of the companies. Large-Scale Indian Crypto Ponzi Scheme Indian police are reportedly investigating three Bengaluru-based companies over a cryptocurrency investment scheme that has lured investors from all over India. The companies are Long Reach Global, Long Reach Technologies, and Morris Trading Solutions. They are allegedly connected to “a multi-crore....
The U.S. Securities and Exchange Commission (SEC) has charged four founders and seven promoters of Forsage, which it described as “a fraudulent crypto pyramid and Ponzi scheme.” The scheme allegedly raised more than $300 million from millions of retail investors worldwide, including in the U.S. SEC Takes Action Against Forsage Crypto Scheme The U.S. Securities and Exchange Commission (SEC) announced Monday that it has “charged 11 individuals for their roles in creating and promoting Forsage, a fraudulent crypto pyramid and Ponzi scheme.” The securities....
It wouldn't be an ordinary day without another world government coming out against digital currency bitcoin. This time around it's the Central Bank of Kazakhstan, with its governor making some interesting comments. Kairat Kelimbetov, the bank's governor, said that bitcoin may be deemed as a ponzi scheme by the central bank at a press conference Tuesday in Almaty. "The issue is rather complicated. Some claim the currency is a good tool of money laundering and an absolute evil. That's why some monetary authorities, like those in China, have banned Bitcoin," said Kelimbetov, incorrectly....
While performing a search on the internet, it is currently easy to find articles exploring whether Mining City is a Ponzi scheme or not. There are indeed some misunderstandings and bad press, but you have to keep a cool head. You should take a look at Mining City objectively, weigh all the arguments, ignore the […]