BitHarvest pyramid fraud warning from Russia
BitHarvest has received a pyramid fraud warning from the Central Bank of Russia (CBR).
As per the CBR’s February 14th warning, BitHarvest exhibits “signs of a financial pyramid”.
BitHarvest is an MLM crypto Ponzi built around a “USB thumb drive enhances crypto mining hardware” ruse.
BitHarvest is run out of Malaysia and fronted by CEO “Logan Lee”.
Lee is a Boris CEO played by Singaporean national Steve Ng. BitHarvest management tied to Malaysian national Jaz Pee (aka Wei Haw Pee).
As of January 2025, SimilarWeb was tracking ~635,000 monthly visits to BitHarvest’s website. Top sources of BitHarvest website traffic are the US (31%), the UK (23%) and Ukraine (21%).
Russia was a top source of BitHarvest traffic in mid 2024 but appears to have since collapsed. Promotion of BitHarvest in Russia is likely what spread the Ponzi scheme to Ukraine.
Part of BitHarvest’s marketing ruse is use of mining farms in Texas. So far the only US regulator to take action against BitHarvest is California last October.
How is serial scammer and international fugitive Jan Gregory not mentioned in reference to this post?
BitHarvest is the latest of the dozens of scams Jan has promoted over the years.
His name mentioned in association with any “investment opportunity”, is all anyone needs to know as far as its lack of legitimacy and guaranteed failure.
The unravelling of BitHarvest has begun.
Because, as far as I know, Gregory is an early BitHarvest promoter.
If you have evidence Gregory is a wanted fugitive in any jurisdiction feel free to share it.
“Fugitive” was meant in the sense that he is a fugitive from the thousands of people he’s scammed and burned, worldwide.
Steve Ng actually works for Prudential in Singapore: prudential.com.sg/pruadviser/2020/04/14/07/21/steveng
I’m surprised prudential allow him to run such a scam and still advise their customers. Nuts.