The AirBit Club pyramid worked, specify the American law enforcement agencies, from 2015 to 2020. The organizers of the project announced the extraction of cryptocurrencies, as well as earnings through trading digital assets. They promised clients guaranteed passive income from investments. The pyramid has attracted investments of hundreds of millions of dollars. AirBit worked not only in the US, but also in Latin America, Asia and Eastern Europe.
According to US Attorney Damian Williams, the organizers of the pyramid used the funds received from investors to buy luxury cars, houses and jewelry.
“The defendants have taken advantage of the growing popularity of cryptocurrencies to swindle millions of dollars from unsuspecting victims around the world. They lured clients with promises that the funds were used for mining and trading cryptocurrencies. But instead they organized a standard pyramid scheme and appropriated the money of clients, ”Williams emphasized.
Recently, the US Securities and Exchange Commission (SEC) accused the organizers of the BKCoin company of over $100 million in cryptocurrency fraud.
Source: Bits
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