A new ponzi scheme is spreading
The Cyber Police of the Ministry of Internal Affairs (MIA) warns citizens to beware of another suspicious platform spreading in the Armenian online domain, a Ponzi scheme named gxmcoin.
The Cyber Police recalls the case of the previously operating HelloBit platform, whose activities caused widespread damage to thousands of citizens.
As a reminder, HelloBit, presented as a crypto investment platform, froze user accounts days after its launch, resulting in financial losses for the people.
Citizens were offered to make investments and receive a daily return of 2-3%. Additionally, the system encouraged the recruitment of new individuals.
Specialists explained the mechanism of such platforms: as many people as possible are recruited, their funds are used to pay the “interest” of previous investors, and when the recruitment pace slows down, the organizers cease operations and disappear.
The Cyber Police urges citizens not to yield to promises of high and quick profits and not to invest money in suspicious platforms.
