Sergei Mavrodi, famous for a pyramid scheme called the ‘Mavrodi Mondial Moneybox’, or MMM, has announced plans to relaunch his digital currency ‘Mavro' on the Ethereum platform, Russia Today reported.
“The time for change is now! We can do a lot!! Financial apocalypse is inevitable,” he wrote.
The “Mavro” was first launched in 2016 with nearly 33,000 followers. Mavrod is offering to replace “outdated” cryptocurrency with the new coin, to be launched on December 29. He is urging investors to get rid of old tokens by selling them at $0.50 per coin.
According to Russia Today, the new mavro was trading at 14 cents per token at 9:00 GMT on Friday, marking nearly a 75 percent decline since March 2017, when CoinMarketCap started tracking it.
The decision to relaunch the virtual currency was reportedly fueled by the unprecedented surge of cryptocurrencies this year.