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Forsage Founders Indicted for $340M Ponzi Scheme Masquerading as DeFi Platform

Altszn.com by Altszn.com
February 23, 2023
in Ethereum
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Forsage Founders Indicted for $340M Ponzi Scheme Masquerading as DeFi Platform
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Forsage relied on smart contracts on Ethereum, Binance Smart Chain and Tron that were “consistent with a Ponzi scheme,” the statement said. “As soon as an investor invested in Forsage by purchasing a ‘slot’ in a Forsage smart contract, the smart contract automatically diverted the investor’s funds to other Forsage investors, such that earlier investors were paid with funds from later investors.”



Read More: www.coindesk.com

Tags: 340MDeFiETHEthereumForsageFoundersIndictedMasqueradingplatformponziScheme
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