7 recorded changes
Want your article here?
Promote with Leviathan News"The scheme allegedly paid initial investors small returns to establish trust, according to the ED. Victims were then encouraged to invest larger amounts and recruit new members through referral bonuses. The organization used social media platforms including Facebook, Instagram, WhatsApp and Telegram to expand the network internationally, investigators said. The ED reported that seized funds, classified as proceeds of crime, were moved through a complex concealment system. This included multiple cryptocurrency wallets used to divide and obscure sums, hawala transactions, paper companies, channels to transfer funds outside regulated banking systems, and undeclared foreign accounts where cryptocurrency was converted to cash through peer-to-peer (P2P) transactions."
Top comment by @Spencer420
Loading related coverage…
Loading comments…
🚀 Love DeFi? Ready to dive in and start earning $SQUID while making an impact?
Spencer420
"The scheme allegedly paid initial investors small returns to establish trust, according to the ED. Victims were then encouraged to invest larger amounts and recruit new members through referral bonuses. The organization used social media platforms including Facebook, Instagram, WhatsApp and Telegram to expand the network internationally, investigators said.
The ED reported that seized funds, classified as proceeds of crime, were moved through a complex concealment system. This included multiple cryptocurrency wallets used to divide and obscure sums, hawala transactions, paper companies, channels to transfer funds outside regulated banking systems, and undeclared foreign accounts where cryptocurrency was converted to cash through peer-to-peer (P2P) transactions."
Spencer420
"The scheme allegedly paid initial investors small returns to establish trust, according to the ED. Victims were then encouraged to invest larger amounts and recruit new members through referral bonuses. The organization used social media platforms including Facebook, Instagram, WhatsApp and Telegram to expand the network internationally, investigators said.
The ED reported that seized funds, classified as proceeds of crime, were moved through a complex concealment system. This included multiple cryptocurrency wallets used to divide and obscure sums, hawala transactions, paper companies, channels to transfer funds outside regulated banking systems, and undeclared foreign accounts where cryptocurrency was converted to cash through peer-to-peer (P2P) transactions."
Coindesk ·
CoinTelegraph ·
CoinTelegraph ·
Silverlaw ·
The Block ·
decrypt.co ·
Coindesk ·
CoinTelegraph ·
CoinTelegraph ·
Silverlaw ·
The Block ·
decrypt.co ·