VBit Limited pyramid fraud warning from Russia
VBit Limited has received a pyramid fraud warning from Russia.
As per the Central Bank of Russia’s October 11th warning, VBit Limited exhibits “signs of a financial pyramid” scheme.
VBit Limited combines pyramid recruitment with a Ponzi investment scheme. Investment is solicited on the promise of up to 300% after 5 days.
In reviewing VBit Limited on October 9th, BehindMLM additionally noted fake executives represented by stolen profile photos.
VBit Limited also hides behind a UK shell company, and claims to have “rug pull insurance”.
The Central Bank of Russia’s fraud warning suggests VBit Limited has ties to Russia, or at the very least is being promoted there.