• Corpus ID: 234339669

Forsage: Anatomy of a Smart-Contract Pyramid Scheme

@article{Kell2021ForsageAO,
  title={Forsage: Anatomy of a Smart-Contract Pyramid Scheme},
  author={Tyler Kell and Haaroon Yousaf and Sarah Allen and Sarah Meiklejohn and Ari Juels},
  journal={ArXiv},
  year={2021},
  volume={abs/2105.04380}
}
Pyramid schemes are investment scams in which top-level participants in a hierarchical network recruit and profit from an expanding base of defrauded newer participants. Pyramid schemes have existed for over a century, but there have been no in-depth studies of their dynamics and communities because of the opacity of participants’ transactions. In this paper, we present an empirical study of Forsage, a pyramid scheme implemented as a smart contract and at its peak one of the largest consumers… 

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