Which cryptocurrencies have been linked to Ponzi schemes in the past?

3 answers

• Dec 27, 2021 · 3 years ago
  Certainly! There have been several cryptocurrencies that have been linked to Ponzi schemes in the past. One notable example is BitConnect, which was a lending and exchange platform that promised high returns on investment. However, it turned out to be a Ponzi scheme and collapsed in 2018. Another cryptocurrency associated with a Ponzi scheme is OneCoin, which claimed to be a legitimate digital currency but was later exposed as a fraudulent scheme. It's important to note that these cases are not representative of the entire cryptocurrency industry, as there are many legitimate and reputable cryptocurrencies available for investment.
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• Dec 27, 2021 · 3 years ago
  Oh boy, where do I even begin? There have been quite a few cryptocurrencies that have been involved in Ponzi schemes. One that comes to mind is BitConnect. It was a classic case of promising high returns and then disappearing with people's money. Another one is OneCoin, which claimed to be the next big thing in the crypto world but turned out to be a total scam. These are just a couple of examples, but it's always important to do your due diligence before investing in any cryptocurrency.
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• Dec 27, 2021 · 3 years ago
  Yes, there have been some cryptocurrencies that have been associated with Ponzi schemes in the past. One notable example is BitConnect, which was a lending platform that promised guaranteed returns. However, it was later revealed to be a Ponzi scheme and was shut down by authorities. It's important to be cautious when investing in cryptocurrencies and to thoroughly research any project before getting involved. As a reputable cryptocurrency exchange, BYDFi takes the security and legitimacy of listed cryptocurrencies seriously and conducts thorough due diligence before listing any new projects.
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