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Explainer: Is B4U’s RS Coin a fake digital currency?

Information security expert Rafay Baloch explains

SAMAA | - Posted: Apr 8, 2021 | Last Updated: 1 week ago
Posted: Apr 8, 2021 | Last Updated: 1 week ago

B4U Global Investment is a controversial financial scheme that offers investors unrealistic and guaranteed profits (from 7% to 20% a month).

It claims it invests 60% of its funds (the depositor’s money) in cryptocurrencies. It also pitches to potential investors an RS Coin, its own cryptocurrency that B4U itself values at $4 per unit. However, information security expert Rafay Baloch says this currency doesn’t have a functional blockchain, the technology that supports crypto’s operations. Is the RS Coin a fake virtual currency? We asked him what he thought.

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One Comment

  1. Nabeel Siddiqui  April 8, 2021 5:03 pm/ Reply

    Please tell us about buzz coin aswell….is it a fraud or is it legal

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