Cryptocurrency Ponzi, Pyramid, and MLM Schemes: Part 1

Jason Scharfman ()
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Jason Scharfman: Corgentum Consulting, LLC

Chapter Chapter 3 in The Cryptocurrency and Digital Asset Fraud Casebook, 2023, pp 35-53 from Springer

Abstract: Abstract This chapter provided an introduction to the subject of cryptocurrency Ponzi and pyramid schemes. The chapter began by providing an overview of the elements of Ponzi schemes. We next discussed elements of pyramid and multi-level marketing schemes in crypto. It next discussed the epidemic of cryptocurrency scams in Brazil. As part of this discussion, we analyzed cases including Brazil’s Bitcoin King and Bitcoin Pharaoh. The chapter then proceeded with a discussion of the balance between widespread cryptocurrency adoption and scams in Africa. Next, we concluded with a discussion of the OneCoin fraud.

Keywords: Ponzi; Pyramid scam; Multi-level marketing (MLM) fraud; Africa; Brazil; Sharia law; OneCoin (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-23679-2_3

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DOI: 10.1007/978-3-031-23679-2_3

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