For the first half of 2023, the cumulative losses from the activities of the largest cryptocurrency pyramids in Russia amounted to more than $50 million. The report was written by «Известия», citing a study by the SHARD service.
According to analysts, the number of Ponzi schemes that attract funds in cryptocurrencies is growing steadily. While in 2022 their share stood at 58%, by the first half of 2023 this figure exceeded 70%.
Experts cited calculations from the Bank of Russia, according to which more than 2,800 different pyramids are operating in Russia in total.
SHARD noted that, on average, fraudulent projects operate two to four months, after which they disappear with investors’ money. Former participants in collapsed pyramids often become organizers of new similar schemes.
Lately, to attract audience attention, companies talk about the project having its own cryptocurrency or metaverse.
Earlier ForkLog reported that the losses from the Life is Good financial pyramid in Russia amounted to ₽15 billion, including in digital assets.