MLM and Ponzi schemes are using Bitcoin to fool newbies that they need to buy from their portal to buy Bitcoin. So instead of wasting their time to research newbies tend to invest due to high rewards.
With the increase in the value of bitcoin, we are witnessing an increase in pyramid and panzi schemes every day, which promise huge profits and bring people into these schemes, and after a while, they cause financial loss to the person.
One of the reasons we are more concerned about Panzi plans is the growing distrust of people in the digital currency space. And it must be remembered that the failure of digital currencies can lead to the failure of China's extraordinary blockchain technology.