New Financial Pyramid Emerges in Cyprus

Following the “Metamax” scandal, a new financial pyramid scheme has surfaced in Cyprus. Experts are warning the public about the potential for significant financial losses.

Cybersecurity expert Dinos Pastos discussed the issue on ALPHA News, explaining that the new scam predominantly targets content creators.

According to Pastos, the scheme involves a company whose advertisements have recently started appearing around Cyprus.

“This is an online service where the creators claim to have an app that requires users to recruit others to register on the platform. They also assert that they offer a product allowing content creators to upload videos, gain views, and receive monetary compensation,” Pastos explained.

The alleged scammers are reportedly organizing events in various shopping centers and villages across Cyprus to attract potential victims, presenting their “miracle system” that promises financial gain. The company is also known to operate internationally.

In addition to their promotional efforts, the scammers are involved in charitable activities aimed at supporting needy families.

Pastos noted that the police are currently unable to act on this specific case, as the initiative to expose the fraud must come from the affected individuals.

Pastos has already contacted major digital platforms, requesting them to block the suspicious company’s advertisements.