In South Korea a Robot Investigator Uncovered a Ponzi Cryptocurrency Scheme
A fraudulent group that managed to steal about $ 19 million from the victims was discovered by South Korean police with the help of artificial intelligence. According to the local news portal Korea Joon Gang Daily, participants in the scheme called M-Coin were at least 56 thousand people. Mainly retired people and housewives were among the victims. As in all such schemes, they were promised a reward in the form of free cryptocurrency, plus additional bonuses for each attracted "investor". As a result, the police managed to arrest the criminals. Reportedly, the total damage amounted to $ 18.7 million. Each year, the unsuspecting victims paid the fraudsters a $ 288 membership fee. For those who wished to receive privileges, this fee increased to $ 864. Registration for 10 years included the possibility of receiving discounts on participation in various events, including entertainment and travel. For bringing the money, the scammers rewarded the participants for their own unregistered cryptocurrency. It should be noted that the arrests of M-Coin were the result of the work done by a special robot-investigator trained in “Ponzi scheme patterns”, which allowed the robot to identify advertisements and other content. We want to remind you: Subscribe to The Coin Shark news in Facebook: