https://www.nytimes.com/2025/03/28/business/rainbowex-crypto-ponzi-scheme.html
In San Pedro, Argentina, 16,000 people, a fifth of the population, signed up for a cryptocurrency exchange where everyone won. Until they didn’t.[...]
RainbowEx is a version of a scam that has popped up around the world, he said in a recent interview, using a nearly identical software platform each time. He’s found iterations in Africa, Europe, Asia and North America, where examples have surfaced in Alabama and Washington State. At least 200 versions are currently active, Mr. Eldritch said in a phone interview. Each has a different name and many have La China-like characters dispensing crypto instructions. In a now-expired variant in Italy, the La China persona was called Dolly.