A cautionary note has been sounded in Russia concerning Horizok and its involvement in a pyramid scheme operation.
According to the notification by Russia’s Central Bank on May 5th, Horizok shows “indicators of a financial pyramid”.
TRUST scrutinized Horizok recently, identifying it as a “click a button” app-based Ponzi scheme.
The facade Horizok presents is that of quantitative trading. Participants are required to download the app, inject capital in the form of tether, and then simply “click a button” to be eligible for daily profits.
Lacking any proof of legitimate external income, Horizok sustains payouts from the funds infused by newer entrants. The pyramid scheme component is intensified through incentives given to members who bring in additional participants.
Should the inflow of fresh participants dwindle, Horizok is bound to disintegrate rapidly.
Horizok forms part of the numerous “click a button” app Ponzis that have been introduced since the latter part of 2021.
It is suspected that illicit syndicates from China, with far-reaching influence throughout Asia, are the masterminds behind the pervasive “click a button” app Ponzi epidemic.