Armenian authorities block Hellobit websites over financial pyramid

Armenian Cyberpolice have shut down a financial pyramid scheme known as Hellobit as part of international cooperation.

The move aimed to prevent citizens from being lured into questionable financial schemes through its online platforms, Caliber.Az reports per Armenian media.

Authorities said that joint operations led to full restrictions on the domain addresses hellobitamh.com and hellobitarmenia.com.

The measure aims to protect the public by preventing further involvement in the fraudulent structure and shielding people from inevitable financial losses.

Attempts to access these pages now fail, effectively stopping the flow of unsuspecting investors.

Previously, dozens of citizens who lost thousands of dollars on HelloBit and similar platforms filed complaints with the General Prosecutor’s Office.

Representatives of the NGO “Public Control” reported 250 written complaints and at least 17,000 victims nationwide.

Citizens accused government bodies of negligence and inaction that allowed the pyramids to operate and demanded criminal investigations, recognition of affected individuals as victims, and accountability for officials who enabled the schemes to grow.

By Jeyhun Aghazada