BitPlam has received a pyramid fraud warning from Russia.
Which is a bit odd, seeing a BitPlam is supposed to have collapsed last November.
As per the
Central Bank of Russia’s April 1st warning
, BitPlam exhibits “signs of a financial pyramid” scheme.
BitPlam
launched in late 2021 and marketed a 4% to 5% daily ROI.
The investment side of BitPlam was a Ponzi scheme. The MLM side of BitPlam was a pyramid scheme.
As early as November 21st BehindMLM readers began
reporting BitPlam non-payment
.
Alexa’s website analysis shows a steady decline in traffic to BitPlam’s website from early January 2022:
Top sources of traffic to BitPlam’s website are currently Russia (11%), Indonesia (8%) and Iran (6%).
BitPlam’s social media profiles were abandoned in November 2021, coinciding with its collapse.
BitPlam’s website is still online though. So it seems either the CBR’s investigation was delayed, or gullible investors are still being recruited in Russia.
🤖 Quick Answer
What is BitPlam and why did it receive a fraud warning from Russia?BitPlam is an investment scheme launched in late 2021 offering 4-5% daily returns. The Central Bank of Russia issued an April 1st warning identifying BitPlam as exhibiting signs of a financial pyramid scheme, combining a Ponzi investment structure with an MLM component designed to generate unsustainable returns.
When did BitPlam collapse and what evidence exists of its failure?
BitPlam collapsed in November 2021, with non-payment reports from users beginning November 21st. Website traffic analysis shows steady decline from January 2022, and social media profiles were abandoned coinciding with the collapse. Primary user sources were Russia, Indonesia, and Iran.
🔗 Related Articles
- Lifestyle Marketing Group Review 2.0: Matrix points pyramid
- DexNet Review: Dubai MLM crypto securities fraud
- P&G Group Review: Stolen identity “click a button” Ponzi
- Eric Worre sweeps millions in Ponzi fraud under the rug
- Cryptech Review: Script Wizard Ponzi scheme