Forsage, IDA, and JawaEye scams in Pakistan
Over the past few years, Pakistan has seen a rise in cryptocurrency scams that have left many investors out of pocket. Three of the most notorious scams are Forsage, IDA, and JawaEye. These scams lure unsuspecting investors with promises of high returns on their investments, but in reality, they are not real. However, they are just elaborate Ponzi schemes.
Forsage is a multi-level marketing scheme that claims to be a decentralized platform for crowdfunding using Ethereum blockchain technology. It was first launched in 2020 and has gained a significant following in Pakistan. However, the reality is that Forsage is nothing more than a pyramid scheme that relies on recruiting new members to pay off old members. The only way to make money with Forsage is to recruit new members. Which is a ...