Pyramid Scheme

Blast founder Tieshun "Pacman" Roquerre is suddenly fending off the critics. (Creative Commons, modified by CoinDesk)

The idea of a yield-paying layer-2 blockchain atop Ethereum has clearly demonstrated market allure. But even the project's biggest investor has taken issue with the execution...

By Sam Kessler

Nov 29, 2023 at 12:00 p.m. UTC

Nov 29, 2023

AnalysisParadigmYield FarmingYieldPonziPonzi schemePacmanPyramid Scheme

Finance

Polygon

Fifth-Largest Holder of Polygon Tokens Is Little-Known Chinese Crypto Project

At least one observer says Avatar is a multilevel-marketing (MLM) scheme in which users generate significant rewards for every person they successfully refer.

By Oliver Knight

Feb 13, 2023 at 11:41 a.m. UTC

Feb 13, 2023

PolygonMATICStakingPyramid Scheme

Ruja Ignatova and Sebastian Greenwood (OneCoin)

Policy

Doj

Co-Founder of OneCoin Pyramid Scheme Pleads Guilty; ‘CryptoQueen’ Still Wanted

Karl Greenwood has admitted to federal wire fraud and money laundering charges in the $4 billion OneCoin scam, the U.S. Department of Justice says.

By Jesse Hamilton

Dec 16, 2022 at 7:13 p.m. UTC

Dec 16, 2022

DOJSouthern district of new yorkOneCoinUSFraudPyramid Scheme

Layer 2

Onecoin

The Missing CryptoQueen Has Friends in (Very) High Places

With evidence of complicity at the very highest levels of government, the BBC’s years-long investigation into the OneCoin pyramid scheme returns.

By David Z. Morris

Nov 2, 2022 at 4:12 p.m. UTC

Nov 2, 2022

OneCoinFraudUnited Arab EmiratesPyramid SchemeThe NodeNewslettersOpinion

Finance

Brazil

Brazilian Police Issue Warrants Against Alleged Leader of $767M Crypto Pyramid Scheme

Francisley Valdevino da Silva, known as the "cryptocurrency sheik," has 20 seizure warrants against him.

By Paulo Alves

Oct 7, 2022 at 5:35 p.m. UTC

Oct 7, 2022

BrazilPyramid Scheme

Lado Okhotnikov (YouTube self-promotional video)

Consensus Magazine

Opinion

How to Stop Forsage, Meta Force and Other Smart Contract Pyramid Schemes

An SEC indictment notwithstanding, it's not easy to taking down online pyramid schemes, says our columnist. Here are some ideas.

By JP Koning

Aug 8, 2022 at 5:00 p.m. UTC

Aug 8, 2022

OpinionPonziSECPyramid Scheme

Video

Dogecoin

Elon Musk Reiterates Dogecoin Support Despite Lawsuit

“The Hash” team discusses Elon Musk’s recent tweet about “supporting Dogecoin,” despite the Tesla CEO facing a $258 billion lawsuit over claims of an alleged pyramid scheme to...

By CoinDesk Staff

Jun 21, 2022 at 6:21 p.m. UTC

Jun 21, 2022

DogecoincdtvTeslaElon MuskHash clipPyramid Scheme

Eddy Alexandre allegedly ran the $59 million pyramid scheme (note: the chyron in the screenshot misspells Alexandre's name). (FBI/modified by CoinDesk)

Policy

Fraud

N.Y. Man Arrested, Charged With Fraud for Alleged Role in $59M Crypto Pyramid Scheme

The FBI says Eddy Alexandre promised investors he could double their money with a “robo-adviser” – and then spent their money on luxury cars and business expenses.

By Cheyenne Ligon

May 12, 2022 at 9:44 p.m. UTC

May 12, 2022

FraudFBIPyramid SchemeNew YorkCrypto