Indian authorities arrested two people on charges of managing the cryptocurrency pyramid, within which was illegally obtained 300 BTC (about 2.8 million dollars at current prices) 5 000 victims.
Swindlers acted according to a long-proven scheme or multilevel marketing – they convinced investors to attract other people into the scheme, promising them high returns from investing in bitcoin through a company called Bitmineplus. The company urged investors to invest in bitcoins the company, or buy bitcoins, which the organization will store and offer investors a monthly income of 12%.
According to The Times of India, the platform started in December 2016. Then investors were asked additional income for attraction of new participants – 5%, and 10% Commission. After the first payments to investors, the company started to offer dividend payments in the BMP of their own currency had no value. The owners of the company managed to disappear with investors ‘ funds, but later two organizers of the scheme were arrested.
«Angra (head of the scheme) plan and continue to pay dividends in our own cryptocurrency, but the increasing debt and pressure from investors forced him to run away with the money,» according to police.
The company made presentations in five-star hotels, in order to inspire trust in investors? and lured into the scheme about 5000 people a year before the pyramid collapsed in February 2018.
«We identified 5,000 people who had been involved in a pyramid,» — noted in police. «In the first months they received regular dividends, the payment of which is then stopped, and investors began to ask questions.»
This Scam is quite common in countries with a high popularity of the cryptocurrency. Last week in China was exposed
the cryptocurrency pyramid of 13 million dollars, and a few days before it became known
on fraud, the Vietnam of Modern Tech that has disappeared, deceiving about 32 000 people, invested in two fraudulent cryptocurrency project more than 15 trillion VND (660 million dollars). In addition, at the beginning of this year, the creators of the pyramid Optioment in Europe stole
12 000 10 000 BTC. It should be noted that this scheme worked in Europe and not the Asian countries — the authors promised to investors income from 1.5% to 4% per week of «invested» bitcoins. Investors also rewarded for recruiting new users.