RATE Group | Bitcoin Ponzis on the rise
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Bitcoin Ponzis on the rise

03 Jun Bitcoin Ponzis on the rise

Posted at 07:46h in Bitcoin News by

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The number of suspicious cryptocurrency investment schemes being reported to local law enforcement and other regulatory authorities is on the rise.

This has emerged in the wake of the Hawks’ investigation into an alleged R1 billion cryptocurrency Ponzi scheme run by BTC Global.

“There are others,” said Hawks spokesperson Brigadier Hangwani Mulaudzi. He said they were “under inquiry” and could not be named at this stage.

Over 1 000 people who had lost money in the alleged BTC Global scam had come forward with affidavits.

“People are coming in every day.”

Cryptocurrency investment schemes BitClub Network and Four Corners Alliance Group allegedly show the hallmarks of either a Ponzi scheme or a hybrid Ponzi and pyramid scheme.

There are no telephonic contact details on either of the BitClub Network and Four Corners Alliance Group websites.

City Press e-mailed questions to Four Corners Alliance Group, which has a business address in Las Vegas, the US, and in Montana Park,…

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