Russian police arrested Kazakhstan's large-scale encrypted pyramid scheme scam leader

On May 28, the Russian Ministry of the Interior (MOI) officially stated that the Russian police arrested a cryptographic MLM leader from Kazakhstan. According to reports, the unnamed suspect recommended an encryption project to investors and promised a high return that did not exist to defraud funds. The case involved an entire criminal gang. MOI reported at least 300 fraud cases allegedly related to the pyramid scheme, one of which reportedly lost approximately 14 million Kazakhstan Teng ($36,700).