On January 12, the Bank of Russia expanded its list of companies exhibiting signs of illegal activity in the financial market. The regulator has classified the cryptocurrency project ‘Slovopacana’ as a financial pyramid.
The project’s organizers offer the purchase of a native token called Boiler (BLR), which purportedly increases in value daily by 1% to 25%. However, the withdrawal of BLR is restricted — the coin is unlocked depending on the participant’s possession of a second token named Booster (BST).
The project’s website features scenes from the eponymous TV series and “streetwise quotes.” Depending on the number of transactions, clients are assigned ranks such as “Chushpan,” “Supera,” or “Authority.”
The minimum contribution for participation is $100.
Also included in the list of projects with pyramid scheme characteristics are the broker Procash-mining and the company Cloud-mine.org, which offers earnings through cloud mining.
In the first nine months of 2023, the regulator identified 2176 financial pyramids, a 47% increase compared to the same period last year.
Earlier in February, the Bank of Russia added the fraudulent broker CZ-Changpeng FX to its blacklist.