Finterra fights against Ponzi Schemes
Bernie Mad off may be one of the most well-known Ponzi schemers He did it with mainstream investments. But the principle of a pyramid scheme , in which you take money from new investors to pay previous investors, can be applied to Bitcoin scams. In 2019, three men were arrested in a $722 million cryptocurrency fraud scheme. The men operated BitClub Network for years. The scheme solicited money from investors in exchange for shares of cryptocurrency mining pools. It also supposedly rewarded investors for recruiting new investors. As you can imagine, the investors never got any returns on their investments in the end. These kinds of Ponzi schemes are on the rise and are detrimental to investors and further undermines the genuine crypto industry’s credibility and consumer relationships. More and more companies from all industry sectors are now beginning to implement the blockchain into their businesses This helps them with being more transparent, efficient and secure while also ta