Cryptocurrency Triple Play - How common are pyramid schemes similar to those in China, South Korea and Japan?

Colleagues, East Asia has become a hotbed for multi-level marketing schemes which exploit the allure of and poor transparency of cryptocurrencies, namely Bitcoin. Whether this past May in China ($47m) or more recently in South Korea ($20m) and Japan ($68m), crypto fraud schemes are running rampant across the region. Bottom line: Despite many efforts by credible members of the global crypto ecosystem, digital such as Bitcoin, Ethereum, Ripple and others, are wrought with the potential for scams and related cybercrimes. Government enforcement entities such as China’s Ministry of Public Security or the US SEC only have the bandwidth to track and prosecute a small minority of crypto fraud cases. We do not foresee a significant reduction in crypto cybercrimes until government agencies have both the cyber tools and manpower to launch a counter-offensive which is likely to be 2-3+ years in the future. Post a comment today! Lawrence – Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com/)