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Thus, the government should take its responsible to solve the negative impact of cryptocurrency on the economy and resolve the issues faced by the investors when investing in cryptocurrency. These initial investors receive what they believe to be returned, but are actually payouts from the money deposited by newer investors. Now satisfied that the scheme is legit, those investors who received payouts pump more of their money into the scheme and encourage others to do the same. Sooner or later, the scheme collapses when the promoter runs off with the money or

it becomes too difficult to lure new investors. Here's how it works: a promoter convinces people to invest in their scheme. A Ponzi scheme is a simple but alarmingly effective scam that lures in new investors with the promise of unusually high returns. Some promise astronomical (and implausible) returns and fail to disclose a range of hidden fees, while others are fronts for Ponzi scams and are simply designed to part you from your money.