Blockchain Sports has announced plans to target consumers in the US with fraudulent investment schemes.
In a
March 4th Blockchain Sports “update call”
, Grigory Lundin shared marketing slides designating the US as a “key jurisdiction”.
Specifics haven’t been disclosed but the slide above suggests Blockchain Sports will offer investment schemes with basketball and American football ruses.
Previous Blockchain Sports Ponzi ruses include
football and drag racing
. No matter the ruse though, the staking Ponzi model is the same.
Consumers invest in Blockchain Sports’ ATLA cryptocurrency token. Returns are paid in ATLA but nobody is able to withdraw through public exchanges.
JGGL
saw Blockchain Sports introduce unregistered shares to its fraud portfolio. It also got Blockchain Sports in on the AI grift, which they seem to have continued with Arteki.
Investors in earlier Blockchain Sports schemes are watching numbers on a screen, attached to a heavily pumped ATLA token nobody except Blockchain Sports insiders have access to.
At least not on any public exchange. On Blockchain Sports’ internal exchange, ATLA can purportedly be dumped onto new investors for 7 to 25 cents each.
When public exchange ATLA withdrawals are possible for Blockchain Sports investors, it’s expected early participants will cash out and instantly collapse the scheme.
It’s against this backdrop, and a failed recent attempt to
cash out via gullible European football fans
, that Blockchain Sports is now targeting the US.
per Lundin on the March 4th call;
[5:31] We are moving everything that we have to the United States.
[5:43] We are in the phase of expansion into basketball. We are integrating American football … and we are structuring all these actual properties for the United States markets.
This is hard because it takes a lot of effort in legal side. It takes a lot of effort in financial side. But this is our main focus.
One glaring problem with Lundin’s claim that Blockchain Sports “is being moved to the US”, is that in fact nothing has been moved to the US.
Earlier in the call Blockchain Sports founder Dmitriy Saksonov confirmed he is in Panama as of mid February.
Last October BehindMLM noted Saksonov and his team had
relocated to Russia
. The move to Russia is believed to be the result of
Saksonov running from legal problems in Belarus
.
Why Panama and not the US?
Saksonov is a convicted fraudster, having only been recently released from a Belarus prison in 2022.
In order to enter the US, Saksonov would have to declare his prior fraud conviction to US authorities. And so we have Saksonov and his team in Panama, pretending they are “moving to the US”.
I can’t say for sure whether Saksonov would be denied a US visa but, at least for now, he seems to have acknowledged the unlikelihood of a visa being granted.
While it’s long-standing tax haven with little to no known regulation of MLM related securities fraud, Panama does have an extradition treaty with the
🤖 Quick Answer
What is Blockchain Sports and how does its scheme operate?Blockchain Sports is a fraudulent investment platform operating a staking Ponzi model. Consumers invest in its ATLA cryptocurrency token and receive returns denominated in ATLA, but withdrawals through public exchanges are not available. The scheme uses sports-related ruses, including football, drag racing, basketball, and American football, to attract investors across multiple jurisdictions.
Why is Blockchain Sports targeting US consumers?
According to a March 4th update call, Blockchain Sports co-founder Grigory Lundin identified the United States as a "key jurisdiction" for expansion. Marketing slides suggest the platform intends to deploy basketball and American football-themed investment ruses specifically designed to appeal to American consumer interests and sports culture.
What fraudulent investment products has Blockchain Sports offered?
Blockchain Sports has employed multiple ruses to disguise its Pon
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