Five main suspects arrested! Longevity Ponzi scheme "AirBit Club" officially ends.

Another Ponzi scheme using the name of Bitcoin has been exposed. The "AirBit Club" Ponzi scheme has been sued by the U.S. authorities, with five main participants arrested. Apart from deceiving investors, they are also accused of money laundering involving at least $20 million.

AirBit Club - AirBit Club

AirBit is headquartered in Panama and has been in operation since 2015. It claims that its main sources of profit are Bitcoin mining and "automatic trading robots" that can perform high-frequency trading. It recruits members globally with high return rates and a stock-based system, expanding to various countries and entering the Chinese market in 2017.

Similar to many Ponzi schemes, aside from passive income that attracts many investors, AirBit Club also offers referral bonuses that allow investors to quickly recover their investments and expand their capital organization. Ironically, there is no trace of Bitcoin in the process. Users invest in shares denominated in US dollars and qualify for different membership levels based on the amount invested, with profits also paid in US dollars.

Is it easy to deceive? AirBit Club's marketing strategy

Aside from persuading the public to invest funds, AirBit initially positioned itself as a platform covering finance, cryptoeconomics, entrepreneurship, and other business education. It hosted large expos and lectures worldwide to present itself as a wise choice for investors to enter the world of cryptocurrency assets.

In addition, AirBit sponsored various well-known figures in the financial industry, including sponsoring lectures by Robert Kiyosaki, the author of the famous bestseller "Rich Dad Poor Dad."

Jordan Belfort, the protagonist of "The Wolf of Wall Street."

They also ventured into sports, becoming a sponsor of Formula 3 racing.

According to the U.S. Department of Justice (DOJ), once investors become members, they can view their profits in their online accounts. However, these profits are only superficial, with no actual Bitcoin mining or high-frequency trading behind them. Prosecutors pointed out that AirBit Club also engaged in money laundering activities, with laundered amounts reaching $20 million.

As with previous reports on Ponzi schemes, if there are indications of "unclear sources of profit," "high return rates," and a multi-level marketing system with "dynamic and passive income," it is advisable not to invest any funds. Verify information through Google and avoid letting words like "high profits" trigger greed.