Verse Network has received a securities fraud warning from Russia.

As per the
Central Bank of Russia’s August 2nd warning
, Verse Network exhibits

signs of an illegal professional participant in the securities market.

CBR also warns Verse Network exhibits “signs of a financial pyramid”.

Pyramid recruitment is essential in MLM Ponzi schemes, as without a constant flow of new investment they collapse.

Verse Network
is a Dubai Ponzi scheme run by former
Mainet
scammers Joseph Paillant and Brice Van den Bussche (right).

Verse Network solicits investment in tether (USDT). Passive returns promised are as high as 300%.

In June 2023 SimilarWeb tracked ~133,000 visits to Verse Network’s website. Top sources of traffic are Germany (22%), Russia (13%) and the US (12%).

Russia is the first country to issue a Verse Network fraud warning. The Ponzi scheme also operates illegally in Germany and the US.

🤖 Quick Answer

What is the Central Bank of Russia's warning regarding Verse Network?
The Central Bank of Russia issued an August 2nd warning identifying Verse Network as exhibiting signs of an illegal professional participant in the securities market and displaying characteristics of a financial pyramid scheme, citing the essential role of pyramid recruitment in sustaining such operations.

Who operates Verse Network and what investment does it solicit?
Verse Network, a Dubai-based scheme, is operated by former Mainet scammers Joseph Paillant and Brice Van den Bussche. The platform solicits investment in tether (USDT) cryptocurrency, promising passive returns reaching up to 300 percent.

What geographic distribution characterizes Verse Network's website traffic?
According to SimilarWeb data from June 2023, Verse Network's website received approximately 133,000 visits, with primary traffic sources distributed as follows: Germany accounted

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