Bitcoin Revolution is a classic Ponzi scheme with false promises

The Philippine Financial Supervisory Authority has warned the public about a Ponzi crypto scheme called Bitcoin Revolution. It targets Filipino, Australian and European investors and claims it offers 300% profits per day.

Bitcoin Revolution is a classic Ponzi scheme, in which investors are offered exorbitant profits to bring in new entrants. The promotion campaign claims that this is a software that produces transactions with a success rate of between 88% and 95%. From an initial deposit of only $ 250, fraudsters claim that investors can earn 300% a day or 9,000% a month.

Sale of unregistered securities = up to 21 years in prison

The Philippine Authority warns that those who act as sellers, brokers, dealers or agents of the Bitcoin Revolution, including through online application and recruitment, are liable to imprisonment or fines.

According to the notification, the fraudsters offer the public unregistered securities in the form of investment contracts and violate the securities laws. The scheme is not registered and is not licensed by the Philippine Central Bank to operate with digital assets.

The penalties for violating these laws are very harsh – up to 21 years in prison and fines of up to $ 100,000.

Malta has already warned of Bitcoin Revolution

The Malta Financial Authority has issued a warning about Bitcoin Revolution since January. The scam attracts the public by aggressive online promotion, including using the image of public personalities. In addition, he has published numerous “reviews” of the alleged trading bot on cryptocurrency sites.

Despite numerous warnings from the authorities, the Ponzi scheme has been active on the market since October 2019