Dissecting Swisscoin – Another Rising ‘Cryptocurrency’ Blockchain Ponzi

[jamie.redman1]

Just recently Bitcoin.com reported on the Nigerian SEC Association’s warning about Multi-Level-Marketing (MLM) ‘cryptocurrencies’ such as Onecoin and Swisscoin. Our news team has uncovered quite a bit of shady activity while investigating Onecoin. This week we’ve decided to step into the realm of the so-called Swisscoin economy.

Swisscoin claims to be a cryptocurrency based on a decentralized blockchain, but in reality it operates more like a token MLM affiliate program with an upline and downline structure. Users are instructed to buy token packs paid for with euros or bitcoin as well as recruit members to join the Swisscoin organization. The project officially launched on June 4, 2016, and is reportedly run by the company director Manfred Mayer, a man with an extensive background within network marketing and MLM.

Read More Here: https://news.bitcoin.com/dissecting-swi ... i-horizon/