in bitcoin •  last year  (edited)

Ponzi Scheme is neither a legal, nor a sustainable scheme(PROGRAM). It is a fraudulent investment operation where earlier investors are paid with the funds invested by new investors and it goes on like that till the pyramid schem collapses. The scheme is named after Charles Ponzi, who is the first one to use this technique in 1920s.

USI Tech is a company which business model is inclined towards Ponzi scheme and Pyramid scheme, means the business model of USI Tech is a combination of two illegal schemes. So, we can say that USITech is a Ponzi Pyramid hybrid. Why? Well, you can find the details within our USI Tech review as below. So, if you are searching for the USI Tech reviews in order to find the complete truth about this company, then you don't have to search any further USITech reviews for that, because we are going to provide you the detail answer of your queries within this USITech review, such as what is USI Tech in real, how it operates, either is USITech a scam completely or still there is a chance

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$17 million in ethereum was withdrawn from a mining pool bearing the name “USITech”

That changed approximately eleven hours ago, following the transfer of 15,651.75234 ETH out of the account:

At the current exchange rate, 15,651.75234 ETH is worth $18,327,344 USD.

The owner of the USITech mining pool account transferred the funds to “0x24BcC9d34d3b5F5ad2d8Aa944dB4aa7FFeB8b20F”;

From which it was then transferred to “0x876EabF441B2EE5B5b0554Fd502a8E0600950cFa”.

In this Reddit thread from about a month ago, “0x876EabF441B2EE5B5b0554Fd502a8E0600950cFa” is identified as a “hotwallet” account belonging to the Bitfinex exchange.

What happened to the $18.3 million after it entered the Bitfinex exchange is unclear. Such is the nature of cryptocurrency.

What I can tell you though is, in light of the announcement earlier today, the money isn’t going to be put toward paying affiliates what USI-Tech has represented they’ve earned.

Finally USI-Tech also released their upcoming TechCoin whitepaper.

From the looks of it, TechCoin is being put together by some Indian dev firm on the cheap.