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This is the end of the Pegasus Ponzi scam.

Within the last 24 to 36 hours, affiliates who try to withdraw have been met with a bitcoin fee error notification.

No matter how much or how little an affiliate tries to withdraw, they will always see the same error notice.

Affiliates of Pegasus can still make fresh investments into the program, as far as I can see.

The administrators at Pegasus originally blamed the error notice on a “payment processor issue” before fleeing with the money.

Three previous occurrences each lasted between five and six hours.

With each passing hour, Pegasus offered a new “upgrades” rationale.

When we wish to add money to the wallet for payouts, we have a funding and payout address, however, there is a disconnect between the two.

It is not in our best interest to have a large sum of money in the payments wallet in case of a hack or other security breach, therefore when that wallet is depleted, we simply move the funds to another wallet.

The upgrade messed up something in the wallet we use for this purpose, therefore we haven’t been able to move funds from our funding wallet to our payment wallet for the past few hours.

This is why the remaining balance in the payment wallet is displayed after an error.

This indicates that after the failure of the exit fraud, Pegasus’ withdrawal wallet has exactly 0.00002255 BTC.

Pegasus was multilevel marketing (MLM) cryptocurrency Ponzi scheme promising daily returns of 1.5 percent with an upper limit of 300 percent.

Pegasus has been linked to Russian fraudsters because it uses ePayCore, a Russian financial services company.

On April 11th, 2022, the Russian Central Bank issued a warning about the Pegasus pyramid scheme.

Web traffic had been dropping steadily since May or June, with just a slight uptick in July, leading to the demise of Pegasus.

It’s not hard to see why Pegasus fell apart; the Ponzi scheme could not continue to pay out withdrawals without attracting new investors.

According to data compiled by SimilarWeb, interest in investing in Pegasus has plummeted. The one country where new Pegasus investors are most likely to lose out in Germany.

The number of lives lost and lives damaged by Pegasus is unknown.

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