Authorities in Kazakhstan, operating illegally with cryptocurrencies bincloudlaunched an investigation against the mining hotel business named.
Necessary regulations are underway so that the crypto industry does not take shape in the hands of malicious people. As in every industry, there are scammers who know the vulnerabilities and manipulate people in the crypto industry. One of the latest fraudulent news came from Kazakhstan.
Kazakhstan Chasing Bincloud
An investigation has been opened against Bincloud for engaging in illegal activities linked to using cryptocurrencies. Among the reasons for this pressure by Kazakhstan ponziesystem and the company’s deception of investors.
Kazakhstan Financial Monitoring Agency continues its investigation into a crypto mining business allegedly working with the Ponzi scheme. The investigation suggests that the platform, called Bincloud, is deceiving investors through popular messaging apps.
The people behind the Bincloud mining hotel are recruiting investors via Whatsapp and Telegram apps and enticing them to invest money in the project, which offers mining equipment rentals. As a reward, they promise users to get back 5 percent to 6 percent of the deposited amount per day. It is estimated that the illegal mining operation with the ponzi strategy brought in half a million dollars a month to the crooks.
Kazakhstan’s financial regulators have a call for an investigation led by the watchdog department in the West Kazakhstan region. Authorities are urging victims of the suspected Ponzi scheme to contact the regional departments of the Financial Monitoring Agency and report on their cases.
