CBB Says Papertrade Changed Rules After Collecting $5.5 Million in Fees

CBB said in a post on X that Papertrade was worth examining, alleging that it introduced a Ponzi scheme that participants knowingly accepted. According to Odaily, CBB said Papertrade collected $5.5 million in fees from participants and sold cryptocurrency users $200,000 worth of pants. After someone described it as a possible Ponzi scheme, the project changed its rules to dismantle the scheme and then went offline, CBB said.