Kazakhstan opens investigation into Eolus cryptocurrency pyramid

Kazakhstan’s law enforcement authorities opened criminal cases against the heads of structural subdivisions of the Eolus financial pyramid in ten regions of the country, according to the local Financial Monitoring Agency reports.

According to investigators, the company attracted clients by posing as investment services. Depositors were promised daily growth of their savings from 2.5% to 3.5%.

In addition, a one-off monetary reward of 10% of the amount invested was paid for recruiting a new user, as well as 4% of the new depositor’s daily income for a year. Thus, the figure could reach 3,000% per year.

A representative of Eolus accepted funds into a bank account, after which she purchased cryptocurrency and sent it to her wallet on the energyeolus.top platform.

The total number of victims is at least 3,000. Of them, 1,773 filed police reports alleging property damage amounting to 259 million tenge (~$553,000 at the time of writing).

The organizer faces up to 10 years in prison with confiscation of property.

In August, a court in Astana handed down a verdict to the creators of the Bitcoin pyramid Sincere Systems, whose activities caused losses exceeding $480,000.