Cryptocurrency Community List of Ponzi Schemes and Scams

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The cryptocurrency community has compiled a list of pyramid schemes, ponzi schemes, and outright scams.

We would like to make the important note we have not verified these claims at all and are reporting on information provided by others. We do not hold any opinion or value or interest in the companies and individuals listed.

What is the difference between a Ponzi and pyramid scheme?

Pyramid schemes and Ponzi schemes share many similar characteristics in which unsuspecting individuals are fooled by unscrupulous investors who promise extraordinary returns. However, in contrast to a regular investment, these types of schemes can offer consistent “profits” only as long as the number of investors continues to increase. Ponzi and pyramid schemes are self sustaining as long as cash outflows can be matched by monetary inflows.

The basic difference is the type of products that schemers offer their clients and the structure of the two scams.

Ponzi schemes are based on fraudulent investment management services – basically investors contribute money to the “portfolio manager” who promises them a high return, and then when those investors want their money back they are paid out with the incoming funds contributed by later investors. The person organizing this type of fraud is in charge of controlling the entire operation; they merely transfer funds from one client to another and forgo any real investment activities.

A pyramid scheme is structured so that the initial schemer must recruit other investors who will continue to recruit other investors and those investors will then continue to recruit additional investors and so on. Sometimes there will be an incentive that is presented as an investment opportunity, such as the right to sell a particular product. Each investor pays the person who recruited them for the chance to sell this item. The recipient must share the proceeds with those at the higher levels of the pyramid structure.

The guilty party in the Ponzi and pyramid scheme is the originator of the corrupt business practice, not the participants (as long as they are unaware of the illegal business practices).

A pyramid scheme differs from a multi-level marketing campaign which offers legitimate products.

Currently Running Ponzi Schemes and Pyramid Schemes

  • BCC Cash (note that this is different from Bitcoin Cash)
  • BCHconnect
  • Billion Bit Club
  • Binary Coin
  • Bit Sequence
  • BitAI
  • Bitchamps
  • Bitclub/clubcoin
  • Bitcoin Ascension (pyramid scheme)
  • Bitconnect X
  • Bitether
  • Bitfinite
  • Bitfintech
  • Bitglare Coin
  • Btchash
  • Btc-Rush
  • Btcwait
  • Chrysos
  • Coinrium
  • Cointeum
  • Coinspace
  • Dascoin
  • Davor
  • Deuscoin
  • Ecomcash
  • Eigencoin
  • ETHconnect
  • Etherbanking
  • Exacoin
  • Falcon Coin
  • Farstcoin
  • Ficoin
  • Firstcoin
  • Forzacoin
  • Futurecoin
  • FUU Coin
  • Gold Reward Token
  • Goldgate
  • Hedgeconnect
  • Hextracoin
  • Home Block Coin
  • HotCrypto
  • Hydrocoin
  • Ibiscoin
  • iCenter
  • Ideacoin
  • iFan
  • Iotaconnect
  • Knox Coin
  • Legendcoin
  • Lendconnect
  • Lendera
  • Libra Coin
  • Liteconnect
  • Loancoin
  • LoopX
  • Martcoin
  • Moneroconnect
  • Monetize Coin
  • Monyx
  • Neoconnect
  • Numiv
  • Oalend Coin
  • Onecoin
  • Pagarex
  • Purpose/DUBI
  • Regalcoin
  • Rothscoin
  • Secular Coin
  • SFICoin
  • Steneum
  • Stepium (pyramid scheme)
  • Swisscoin (pyramid scheme)
  • Tenocoin
  • TEX Coin
  • Thorn Coin
  • Ucoin Cash
  • Unix Coin
  • USI Tech
  • WCI
  • Western Coin
  • XRPconnect

Defunct and Shutdown Ponzi Schemes

  • Ambis
  • Bitcoinly
  • Bitconnect
  • Bithaul
  • Bitlake
  • Bitpetite
  • Bitsupreme
  • Btcbox.cc
  • Chain.Group
  • Coinreum
  • Control Finance
  • Cryptodouble
  • Ethtrade
  • Laser Online
  • Mavro
  • Mecoin
  • Metizer
  • Microhash
  • Paycoin
  • Plexcoin
  • Thunderbit
  • Vixice
  • Vone

YouTube Channels Which are Reported Scams

While the original list was put together by /u/PM_Poutine, these are additional community members which have contributed:

/u/808hunna, /u/AceDoja, /u/AllForTheGains, /u/Antranik, /u/arse_nal666, /u/BamboozleVictim, /u/Batman_MD, /u/bluebachcrypto, /u/Calmersky, /u/DemarcoFC, /u/DestroyerOfShitcoins, /u/dvxvdsbsf, /u/EClarkee, /u/Furples, /u/gtfobitches, /u/GuessParryGod, /u/Huuuui, /u/iambinksy, /u/infinityplus0ne, /u/jckwho, /u/Kl4n, /u/KnifeOfPi2, /u/lailide, /u/laminatorius, /u/LordGriffiths, /u/Miqote_Menstruation, /u/mscohe01, /u/normal_rc, /u/nudeinmylivingroom, /u/omegaape, /u/presstab, /u/ptikok, /u/RatToken, /u/Randall_Maller, /u/ripbum, /u/ScroogeMcDuckyPants, /u/Seriously2much, /u/shilch, /u/Sitchu, /u/skotua, /u/slinky_wizard, /u/sToRmRaDe, /u/TheMinero, /u/TheSuspiria, /u/theyork2000, /u/Timbuk220, /u/Too_Trill_To_Fail, /u/tuankiet65, /u/white_knight3, /u/zamli

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