The edX AI platform has been flagged by Russian officials for operating as a pyramid scam.
The Bank of Russia issued a statement on May 17th, indicating that edX AI demonstrates “characteristics of a financial pyramid scheme”.
The fraudulent activity associated with edX AI involves so-called quantitative trading. Potential investors are prompted to install the application, pour funds using tether, and then “press a button” to activate daily profits.
Lacking any genuine external revenue streams, the sole confirmable source of income for edX AI payouts is the capital originating from investors themselves.
The archetypal pyramid structure is clear as edX AI provides monetary motivations for the enlistment of additional investors.
In the absence of a continual influx of new participants prepared to forfeit their funds, edX AI is bound to disintegrate swiftly.
The internet domain for edX AI was initiated on the 25th of April. TRUST performed an assessment of edX AI on the 15th of May. Presently, the website for edX AI has become inaccessible.
edX AI represents just one of the multitude of “press a button” app-based scams that have surfaced since the latter part of 2021.
It is suspected that criminal factions from China, with operations spreading through Asia, are orchestrating this sustained epidemic of “press a button” app-based Ponzi schemes.