Report: BTC Mining Investment Platform Declared Pyramid Scheme by South African Consumer Watchdog – Regulation Bitcoin News

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The 4,000 individuals who participated in the scheme were convinced they were purchasing bitcoin mining equipment. bitcoinmining thezimabuza pyramidscheme

Report: BTC Mining Investment Platform Declared Pyramid Scheme by South African Consumer Watchdog

In a statement, the commission revealed Obelisk had lured victims via social media platforms like Facebook: The watchdog added some investors had been given small returns in order to convince them to invest more.However, problems soon started when investors could not make withdrawals. The report alleges that individuals who confronted the operators of the scheme were blocked and subsequently removed from the Whatsapp groups.

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