NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Predictions Come True as MMM Republic of Bitcoin Shuts Down

Gautham
Gautham
4 years ago
3 mins read
NewsBTC

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

What is that one thing which always holds true for Ponzi schemes? They all have to close down, and at least some of the investors have to lose money. Now the same seems to be happening with the alleged Ponzi scheme – MMM. As it turned out, the Sergey Mavrodi‘s brainchild yesterday announced that it is going to close its doors.

According to reports, the announcement is followed by something even more serious which the investors aren’t liking one bit. Their investments in the vast global scheme are now frozen, meaning they do not have access to their own money. The initial promises made by MMM itself was unrealistic and too good to be true. The Republic of Bitcoin scheme, masterminded by Sergey Mavrodi attracted investments from across the world. One can easily say that most of the investors’ money were well spent on intrusive online advertisements to lure more gullible investors with a promise of 100 percent returns on their bitcoin investments.

Sergey Mavrodi has been involved in a series of pyramid schemes, all under the MMM brand name. He was also convicted in the Russian Federation for his involvement in the pyramid schemes. Even though his earlier trysts with the law is publicly available on the internet, he still doesn’t make any effort to hide his identity or involvement in the scheme. On the contrary, all his investment schemes also carry his picture along with it.

MMM’s message to the investors stated that the investment scheme cleverly referred to as a mutual aid social network has not been able to keep up with the expectations of 100 percent returns per month. The announcement has referred Republic of Bitcoin as a failed experiment. It, meanwhile, has also promised to return investors up to 30 percent of their original investments.

However, investors still have some hopes of getting back their full investments, as the company intends to shift the investments in its Republic of Bitcoin scheme to other MMM schemes that are operating in their region. If there are no MMM regional structures operating in the investors place of residence, then the company intends to create one within a couple of weeks. Even this part of the announcements comes with a caveat. The MMM’s Republic of Bitcoin investors will be repaid as the other schemes pick up and not before that.

MMM will be allocating about 10 percent of the investments received by the regional schemes to repay the current investors (which by itself screams Ponzi scheme out loud).

There has been a lot of media coverage about MMM Global and other related investment schemes where the users were adequately warned about investing in such schemes. Which allows people to inevitably come to a conclusion that the investors in those schemes went ahead knowing all the risks. Whether they will get back their investments or not is a question that only MMM can answer and either way, the investors have to bear the consequences.

Ref: Financial Times | Image: Tiger Pixel (Flickr)
Tweet123Share196ShareSend
Gautham
Gautham

Gautham

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Ethereum

Ethereum Breaks Higher With Conviction: No Signs Of A Breakdown Yet

Bankr, in a recent update, pointed out that Ethereum is maintaining its upward momentum, backed by solid volume and a...

Godspower Owie 3 hours ago

$400M Crypto Seizure by Secret Service Highlights Why Cold Storage and Best Wallet Are Essential

The U.S. Secret Service has now seized over $400M in digital assets, all of which are stored in a single...

Aaron Walker 3 hours ago
비트코인, 도지코인 및 밈코인 일제히 상승세... 토큰6900도 따를까?

비트코인, 도지코인 및 밈코인 일제히 상승세… 토큰6900도 따를까?

비트코인이 10만 9천 달러를 돌파하면서, 암호화폐 시장 전반에 강력한 상승 신호를 던지고 있다. 이더리움(Ethereum, $ETH) – up 4.65% 리플(XRP, $XRP)...

Soyeon Lee 4 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Ethereum Range Tightens – Liquidity Looms At $2,800 And $2,350

Ethereum Range Tightens – Liquidity Looms At $2,800 And $2,350

Sebastian Villafuerte 30 minutes ago

FUNToken’s P2E Model Isn’t Just a Game: It’s a Scalable Digital Economy

NewsBTC 34 minutes ago
Bitcoin

Bitcoin To Repeat Parabolic Phase From 2017 And 2021? Here’s The Target

Scott Matherson 2 hours ago

Premium Sponsors

Press Releases

  • XRP, SOL, LTC holders turn to OPTO Miner to earn $5,777 in...

    1 hour ago
  • More and more XRP and ETH holders are turning to APT Mienr...

    1 hour ago
  • 新しい仮想通貨|今買うべき注目の3つの新プロジェクトと高い成長可能性

    ...

    3 hours ago
  • 本日の暗号資産市場が上昇中、その背景とは?次のラリーに備える仮想通貨おすすめ3選

    ...

    3 hours ago
  • 2025年にCardano、XRP、Pepeが急騰か?注目の仮想通貨プレセールと次なるミームコインの動向

    ...

    4 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.