The Pegasus Ponzi scheme is no longer working.
Affiliates who try to withdraw money from 24 to 36 hours ago get an error message about the bitcoin fee.
The error message seems to be hard-coded since the amount shown is the same for all affiliate accounts and withdrawal amounts that were tried. As far as I know, Pegasus affiliates can still put more money into the scheme.
The Pegasus admins told investors at first that the error message was caused by a “payment processor issue” while the thieves were getting away.
“It’s happened three times before, and each time it lasted between five and six hours. As the hours went by, Pegasus made up a new excuse about “upgrades.”
When we want to add money to the payments wallet, we have trouble moving funds from the funding wallet to the payments wallet. We have a funding address and a payout address. We don’t like to keep a lot of money in the payments wallet in case it gets hacked or something else bad happens, so when the payments wallet is empty, we just move money from one wallet to another. The upgrade to the wallet we use for that broke something, so we haven’t been able to move money from the funding wallet to the payment wallet for the last few hours. So, when an error happens, the amount of money left in the payment wallet is shown. This means that after the exit-scam failed, Pegasus only has 0.00002255 BTC left in his withdrawal wallet.”
Pegasus was an MLM crypto Ponzi scheme that promised 1.5% a day, up to a maximum of 300%. Pegasus is thought to be run by Russian scammers because it uses ePayCore, a Russian company that helps people with their money. On April 11, 2022, the Central Bank of Russia warned about a Pegasus pyramid scheme.
The fall of Pegasus was caused by a drop in website traffic between May and June, followed by a slow recovery in July.
For a Ponzi scheme that needed money from new investors to pay out old investors, Pegasus’s failure should have been clear. SimilarWeb’s statistics on website traffic show that Pegasus’s efforts to find investors have gone down in every way.
The only place where this isn’t true is Germany, where most new Pegasus investors are likely to lose money. We don’t know how many people Pegasus hurt and how much they lost.