Pyramid Scheme News

Telegram’s integration of the TON blockchain and its native Toncoin token has become a honeypot for scammers promoting a referral pyramid scheme.

Ponzi schemes promise returns generated from the money of future investors, while in pyramid schemes, income flows up through recruitment.

Karl Greenwood will also have to pay back the $300 million he made in commissions in the OneCoin pyramid scheme.

Prosecutors alleged that the executives of a Filecoin mining project orchestrated an elaborate pyramid scheme and scammed the participants.

SEC has filed a lawsuit in the U.S. District Court against the founders and promoters of Forsage, who allegedly fueled a $300 million “textbook pyramid and Ponzi scheme.”

An alleged crypto pyramid scheme stole hundreds of millions of dollars from investors.

Two directors of Dunamiscoins, an alleged cryptocurrency pyramid scheme in Uganda, appeared before court on Monday to face 65 counts tied to obtaining money by false pretense.

OneCoin, a purported cryptocurrency and trading venture based out of Bulgaria, is suspected to be a pyramid scheme with no verifiable evidence to back up any of its business claims.