Natalie Vincent, of Ngā Tāngata Microfinance, said many pyramid schemes use cryptocurrencies, and are promoted primarily to Māori and Pasifika families.
Vincent said a new pyramid scheme is being sold to vulnerable people in the form of 'gifting' or 'koha' with the promise of making quick money.
It suggests people can get up to $20,000 after making three payments of $150.
Vincent said some people might make money at the very early stages, but further on, as is the nature of such schemes, it will collapse, leaving no money for anyone.