CoinJie News reported that on-chain analyst Specter pointed out that about 16 hours ago, a wallet suspected to be associated with Mining Express exchanged 5,004 ETH for approximately 8.8 million DAI. The project originally attracted investors through a multi-level marketing approach, was later accused of being a Ponzi scheme, and after halting redemptions, shifted to business models such as cloud rendering. Specter first flagged the address on June 15 and attached multiple related addresses for verification.

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Lightning-FastComposure
· 6h ago
Multi-level marketing + suspension of payments, a classic exit scam combination.
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PatinaTradingBell
· 7h ago
A Ponzi scheme lasting this long? The on-chain sleuths have done their part.
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WorkWithYouStudio
· 7h ago
Just go for it 👊
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GateUser-e4351615
· 7h ago
The name "Mining Express" sounds suspicious just by hearing it, yet some people actually believed it back then.
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GateUser-e62ee1b0
· 7h ago
8.8MDAI, how much hard-earned money from retail investors has been scammed?
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