The financial pyramid triggered an increase in fees on the Ethereum network
Matteo Leibovitz from The Block is convinced that the overloaded Ethereum network is caused by the Ponzi scheme, which is implemented as the MMC BSC pyramid.
This is the official site of the pyramid MMM BSC
The site claims that the project is not high-risk, and its participants will receive 30% of the monthly profit. Presumably, the stablecoin Paxos Standard (PAX) is used for the MMM BSC.
Matteo Leibovitz explained that according to the scheme, the user creates several addresses and conducts multiple transactions, interacting with smart contracts. The popularity of MMM BSC continues to grow, as evidenced by the number of users who are already more than 4,000. The total number of PAX coins involved in the pyramid’s activity is estimated at $ 98 million, which makes up more than half of the token issue.
Leibovitz claims that it was the activity of the MMM BSC participants that could provoke gas growth in the Ethereum network. The researcher added that transactions related to MMM BSC already use almost 10% of the gas available on the Ethereum network