Kripto Future has received a pyramid scheme warning from Russia.

In their 28th September notice, the Bank of Russia warns Kripto Future exhibits “signs of a pyramid scheme”.

The Bank of Russia’s notice follows a securities fraud warning issued by Spain in July.

Kripto Future is a Ponzi scheme that pretends to be based out of the UK.

Due to non-regulation of incorporation fraud and securities fraud, the UK is a favored jurisdiction of scammers.

Kripto Future is run by someone going by “Jeffer Ribera”.

The only thing we know about Ribera is he speaks Spanish.

As opposed to the UK, Ribera and Kripto Future are in fact based out of Dubai.

Since the COVID-19 pandemic took hold last year, Dubai has emerged as the MLM scam capital of the world.

Like the UK, regulation of MLM related fraud in Dubai is non-existent. Dubai also lacks extradition treaties with countries that do regulate securities fraud.

Alexa currently ranks top sources of traffic to Kripto Future’s website as Colombia (17%), the US (12%) and Russia (11%).