The cost of gas in Ethereum network rose because of pyramid

by in Cryptocurrency News

Ethereum gas pyramid MMM BSC

According to the observations of The Block analyst Matteo Leibowitz, the Ethereum network has been significantly loaded for a long time, partly due to the gaining popularity of the Ponzi scheme like the notorious MMM.

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The MMM BSC website features an image of Sergey Mavrodi, the famous creator of the financial pyramids and altcoin Mavro.

According to some information, the stable coin Paxos Standard (PAX) is involved in the MMM BSC. The site also says that participants in a "not high-risk" project can earn up to 30% of profits per month.

Leibowitz noted that the scheme involves the creation of several addresses by the user, as well as multiple transactions and interactions with smart contracts. At the same time, the number of MMM BSC users is growing steadily.

The number of transactions received on the MMM BSC smart contract is also growing:

MMM BSC

The total value of PAX coins received on the smart contract reached $98 million.

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The researcher is sure that the increased activity of the MMM BSC participants in many respects served as a reason for the increase in gas prices. The latter is a unit of measurement of the computing power needed to complete a transaction or implement a smart contract on the Ethereum network.