Kazakhstan is investigating Bincloud, a crypto mining company suspected of operating as a Ponzi scheme

According to BlockBeats, on August 10, Kazakhstan's Financial Supervisory Authority has opened an investigation into Bincloud, a crypto mining company that is suspected of operating as a Ponzi scheme. Bincloud is recruiting investors via Whatsapp and Telegram messengers, Persuade them to put their money into projects that offer leases for mining equipment. As a reward, they were promised 5% to 6% of their investment back each day, with the Bincloud operator keeping 16% of the investors' money for itself. Kazakhstan's financial regulator is urging victims of suspected Ponzi schemes to contact the regulator's regional unit and report their cases.