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Watchdog warns consumers against HyperVerse MLM scheme

The National Bank of Hungary (NBH) on Friday issued a warning to consumers against HyperVerse multi-level marketing (MLM) products advertised on social media.

HyperVerse, a “rethought” version of the earlier HyperFund system, “bears some marks of a pyramid scheme”, the central bank and financial market regulator said.

The NBH acknowledged, however, that it does not have oversight of transactions related to cryptocurrency.


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