The Central Bank included the Internet project “The Boy’s Word” in the list of financial pyramids – Kommersant
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The Central Bank (CB) included the Internet project “The Boy’s Word / Slovopacana” in the list of organizations with signs of a financial pyramid, it follows from registry regulator The project’s website is illustrated with footage from the series of the same name and “boyish quotes.”
As the Central Bank explained, the organizers of the pyramid offer to make a contribution in cryptocurrency (from about $10). In return, they issue “some kind of tokens” like cryptocurrency, which is used within the project. These tokens are supposedly constantly growing in price “by up to 25%”, and more people need to be attracted to increase the rate.
The regulator notes that it is almost impossible to find the organizers of the pyramid because they do not leave their contacts. “This is a classic pyramid: people are promised income by attracting new participants. As soon as the organizers collect more contributions, they will disappear with all the money. And it is impossible to guess exactly when this will happen,” says the Central Bank’s Telegram channel “Financial culture”.
For nine months of 2023 the regulator revealed 2,176 financial pyramids, which is 47% more than in the same period in 2022. Ministry of Internal Affairs and Central Bank developed criteria for identifying illegal banking activities. Regulator recommended banks block pyramid accounts.
About the fight against financial pyramids – in the Kommersant publication “Pyramid builders will be given status”.
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