The Bank of Russia has issued a warning about a surge in financial scams involving memecoins and tap-to-earn games. A report reveals that over 3,490 entities showed Ponzi scheme characteristics in the first half of 2024, a 43% increase from 2023.
A significant number of these scams are linked to economic games, which gained popularity after Telegram’s founder, Pavel Durov, promoted them. Scammers exploit viral media trends, with over 14% of illegal projects being economic games.
The report also highlights a rise in mixed schemes offering investment opportunities in forex and cryptocurrencies. Notably, 59% of suspected Ponzi schemes accepted crypto contributions.
Tap-to-earn games, like Notcoin and Hamster Kombat, attract users with the promise of earning real tokens through simple actions. However, their low entry barriers make them vulnerable to scams.
