Vietnamese Bitcoin MLM Scheme Sees Deposits of $1 Million
An MLM-based investment scheme that used bitcoin as its transactional currency has gone bust, in Vietnam. A Vietnamese investment scheme that used multi-level-marketing (MLM) and bitcoin as its currency to promise investors returns of 144% a month has come to an end. MLM trading is illegal by law in Vietnam, as deemed by the Vietnam Competition Authority (VCA), but that didn’t stop unsuspecting users from pouring money into the scheme. The Ponzi scheme first surfaced in January this year. It used the domain “fxmt4.us”, seeking participants to register with an account before demanding a....
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