Philippines' SEC just denounced the top Ethereum dapp as a Ponzi

Agas-guzzling Ethereum dapp that accounts for 25% of activity on Ethereum network has been denounced as a potential Ponzi scheme by the Philippines Securities and Exchange Commision.Click Here for portfolio Click Here for portfolio Click Here for portfolio Click Here for portfolio Click Here for portfolio Click Here for portfolio Click Here for portfolio Click Here for portfolio Click Here for portfolio read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it source file for detail source file for detail source file for detail source file for detail source file for detail source file for detail source file for detail source file for detail source file for detail source file for detail source file for detail source file for detail source file for detail source file for detail source file for detail source file for detail source file for detail source file for detail source file for detail source file for detail source file for detail source file for detail source file for detail usama younus portfolio usama younus portfolio usama younus portfolio usama younus portfolio usama younus portfolio usama younus portfolio usama younus portfolio usama younus portfolio usama younus portfolio usama younus portfolio usama younus portfolio usama younus portfolio usama younus portfolio usama younus portfolio usama younus portfolio usama younus portfolio usama younus portfolio usama younus portfolio usama younus portfolio usama younus portfolio usama younus portfolio usama younus portfolio usama younus portfolio usama younus portfolio usama younus portfolio usama younus portfolio usama younus portfolio usama younus website usama younus website usama younus website usama younus website usama younus website usama younus website usama younus website usama younus website usama younus website usama younus website usama younus website usama younus website usama younus website usama younus website An announcement from its SEC on June 30 advised users of the dapp in question,


 Forsage, to stop using it immediately, and demanded that the owner officially register with the commission. Forsage describes itself as a “fully decentralized matrix marketing project,” and, “the most thought-out marketing of this type.” However, it features many of the typical hallmarks of a multi-level marketing scheme. 

pop up music background music music for productions stock music music for productions pop up music music for productions stock music background music pop up music music for productions stock music background music music for productions stock music music for productions pop up music background music stock music music for productions stock music pop up music music for productions background music pop up music stock music music for productions background music pop up music stock music music for productions background music stock music music for productions pop up music background music stock music pop up music background music music for productions stock music background music music for productions background music pop up music stock music music for productions background music music for productions background music music for productions pop up music music for productions background music stock music background music music for productions pop up music music for productions stock music pop up music stock music music for productions background music pop up music music for productions background music stock music music for productions stock music pop up music stock music background music pop up music music for productions stock music music for productions stock music pop up music background music music for productions stock music music for productions pop up music background music music for productions
The dapp is classified by popular ranking site DappStats as a “High-Risk” application, where users profit by attracting more users to invest in multi-level “slots”. Each slot is twice as expensive as the previous, and returns twice as much profit back to the original referrer.


 The SEC advisory notice stated: “Based on numerous reports and information gathered by the Commission, the entity operating under the name FORSAGE, headed by Lado Okhotnikov, is found to be engaging in investment-taking activities in the Philippines which is NOT AUTHORIZED by the Commission.”


read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it read more about it  According to the SEC: “Forsage’s so-called smart contract partakes of the nature of securities through an investment contract where investors need not exert any effort other than to invest or place money in its scheme in order to profit.”

Comments

Popular posts from this blog

Impossible VII’ halts Italy filming over coronavirus

Former K-pop star Seungri has been indicted on prostitution charges

"IPL 2020" No relaxation likely in quarantine rules for English and Australian players