Meaning of "Cryptocurrency pyramid scheme"
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This is a modern-day pyramid scheme in which operators pose as legitimate, publicly traded virtual assets, lure investors by promising high returns, and use funds from new investors to pay existing ones, thereby sustaining the scheme.
"Evidence has emerged that the organization has been continuously recruiting new members through a cryptocurrency pyramid scheme and has been paying out so-called dividends solely with funds from new investors."
Related slang words
PromotionThis refers to the process of progressively advancing through ranks or job levels—such as Silver, Gold, and Diamond—by meeting specific performance criteria, such as sales targets or recruitment goals.Exit 10 at Seolleung StationThis term refers to "Exit 10" at Seolleung Station, a specific subway station. It is known as a former gathering place where multi-level marketing and fraudulent sales organizations used to lure new recruits, and has since come to be used metaphorically to describe similar fraudulent or solicitation schemes.HoardingThe act of seeking profit or rewards through abnormal purchasing practices, such as buying large quantities of specific items beyond what is necessary to build up inventoryRoyalty incomeThis is a form of commission-based income generated by receiving a certain percentage of the profits derived from the sales (revenue) of subordinate team members, even without engaging in direct labor or sales activities; it is typically received in the form of a pension or regular payments.Loan Pyramid SchemeThis is a fraudulent loan scheme in which victims are lured into taking out loans from secondary financial institutions, and the loan funds are then passed on to other borrowers to expand the scheme.SponsorA person or organization that supports an activity or organization by providing funding or infrastructure to help it achieve its goalsDormitoryThis is a facility where people live together in isolation from the outside world and engage in repetitive educational and training activities.ClosingThis is the final stage, just before negotiations conclude, in which psychological pressure is applied to make it difficult for the other party to refuse, thereby prompting them to take the final step, such as signing the contract or making a payment or deposit.