7: The $340M DeFi Crypto Ponzi Scheme
Update: 2023-08-02
Description
Forsage.io Founders Indicted: Exploring Cryptocurrencies as Potential Ponzi Schemes
In this episode we unravel the Forsage.io scandal, revealing its founders' shocking indictment by the DOJ in February 2023. Originally flagged by the SEC in August 2022, Forsage.io, a DeFi crypto company, orchestrated transactions exceeding $340 million over two years, yet investigations unveiled its lack of legitimate offerings, surviving solely on unwitting investors' contributions. Join us as we dissect this unfolding saga and delve deep into the contentious debate surrounding whether cryptocurrencies inherently harbor the characteristics of a Ponzi scheme.
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