Home The Bitcoin News Vietnamese Bitcoin MLM Scheme Sees Deposits of $1 Million – CCN …

Vietnamese Bitcoin MLM Scheme Sees Deposits of $1 Million – CCN …

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An MLM-based investment intrigue that used bitcoin as a transactional banking has left bust, in Vietnam.

A Vietnamese investment intrigue that used multi-level-marketing (MLM) and bitcoin as a banking to guarantee investors earnings of 144% a month has come to an end.

MLM trade is bootleg by law in Vietnam, as deemed by a Vietnam Competition Authority (VCA), though that didn’t stop gullible users from pouring income into a scheme.

The Ponzi intrigue initial flush in Jan this year. It used a domain “fxmt4.us”, seeking participants to register with an comment before perfectionist a smallest deposition of 1 bitcoin, as a buy-in, according to internal announcement Thanh Hien.

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Early investors saw early returns, fueling a seductiveness among residents like farmers during a panorama district in Vietnam. Initially, investors saw 1% in earnings a day, for a initial month. After a initial month, that rate increasing exponentially, with earnings of 24% for each 5 days. Over a month, that works adult to 144%.

By May, a intrigue was no longer profitable out dividends and


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