During last week a lamentable event happened that left sumtuous monetary losses to an approximate of 150 thousand people.
This is MeCoin , a pyramidal financial scheme that leaves most of its victims mainly in Colombia and in countries like Argentina, Bolivia, Venezuela and Spain, with huge losses and immense debts , after having invested money (dollars and Colombian pesos ) In bitcoins, with the promise of obtaining between 30% and 50% of short-term profitability. It is worth noting that the equivalent amount in fiduciary coins has increased significantly since April and even bitcoin managed to surpass the psychological barrier of 3000 dollars .
The scheme was being promoted throughout this year. In fact in CriptoNoticias we can detect how some of its promoters left comments on our Facebook page inviting others to join and participate in MeCoin, which we opportunely blocked to our certainty that it was a potentially fraudulent scheme and pyramid structure .
Having formally begun operating during the month of April, the scheme quickly collapsed , and according to some of its victims during the first 3 weeks daily withdrawals could be made. However, there is no certainty at what point in time investments were started; Since the business model consisted of a referral system, in which 'sponsor' promoters brought new investors to participate in the scheme. The constant flow of investors would be responsible for paying those who were positioned at the top levels of the pyramid.
But beyond promises of return on investment, participants were promised an online store of products from brands such as Apple, Nike, Zippo and Puma; Store that never went live, while offering the possibility of paying airfare at a discount , launching a portfolio of bitcoins and a commercial application of bitcoins in the style of LocalBitcoins .