Russia has warned Kripto Future that it is a pyramid scheme.
The Bank of Russia says in a notice from September 28 that Kripto Future has “signs of a pyramid scheme.”
The notice from the Bank of Russia comes after a warning about securities fraud from Spain in July.
Kripto Future is a scam that says it is based in the UK but is really a Ponzi scheme.
Since incorporation fraud and securities fraud are not regulated in the UK, scammers like to do business there.
Someone who goes by the name “Jeffer Ribera” is in charge of Kripto Future.
Only that Ribera speaks Spanish is known about him.
Ribera and Kripto Future are not based in the UK, but in Dubai.
Since the COVID-19 pandemic started last year, Dubai has become the most popular place in the world for MLM scams.
Like the UK, there are no rules about MLM-related fraud in Dubai. Dubai also does not have any extradition agreements with countries that have laws against securities fraud.
Alexa says that most people who visit Kripto Future’s website come from Colombia (17%), the United States (12%), and Russia (11%).