The Central Bank of Russia has issued a pyramid fraud warning to BeOnWise.
BeOnWise has “evidence of a financial pyramid,” according to the CBR’s warning from April 25.
BeOnWise is a Ponzi fraud run by a Boris CEO named “Ronan Patrick O’Sullivan.”
BeOnWise encourages bitcoin investing with the promise of daily returns of up to 2.77%.
The pyramid-style MLM component of BeOnWise compensates for affiliate investor recruiting.
The CBR’s warning is especially important because Russians often operate Boris CEO Ponzi scams, but not always from within Russia.
At the time of publishing, Alexa lists South Korea (8%), Vietnam (28%), and Peru as the top three countries from which BeOnWise receives traffic.