Central Bank of the Russian Federation: Financial pyramids began to disguise themselves as ICOs Financial pyramids are increasingly attracting potential investors, hiding behind the recently widely spread scheme of selling cryptographic tokens or ICOs. This is the conclusion reached by the Bank of Russia.

Central Bank of the Russian Federation: Financial pyramids began to disguise themselves as ICO

Financial pyramids are increasingly attracting potential investors, hiding behind the recently widespread scheme of selling cryptographic tokens or ICOs. This is the conclusion reached by the Bank of Russia.

"Now a significant part of financial pyramids is really disguised as ICOs," said Valery Lyakh, director of the department for countering unfair practices of the Central Bank, adding that the problem is not domestic, but international, and that it is associated with the actual provision of "cross-border pseudo-financial services".

Lyakh's statement did not contain specifics: he did not say which pyramids came to the attention of the Central Bank, or how much the department estimates the damage caused by them.

“In Russia this also exists, but this is due to the fact that many are distributing their ICOs and "pyramids" from abroad, "he said.

Earlier, we wrote about the StartCom pyramid, which attracts Russian investors with the promise of investing in highly profitable cryptocurrency projects.

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