Bitcoin Forum

South Africas biggest Ponzi scam ever.
https://businesstech.co.za/news/technology/228769/hawks-investigating-multi-million-rand-bitcoin-scam-in-south-africa-report/

The article says they cannot be sure it's a Ponzi Scheme and gives little details of the actual situation except that they've had numerous complaints and are investigating.

If you go to there home page it sounds more like one person from the team ran off with all of the funds

https://btcglobal.team

It was a obvious Ponzi scam and people still invested. The moment when you see huge guaranteed returns on your investments and remuneration and rewards for recruiting people, then you should avoid them like the plaque. The sad thing is that Bitcoin will be blamed for the actions of these criminals.

People will not care that Bitcoin was only the payment method, for them "Crypto currencies" is the evil behind this. I hope they catch these M@#$kers and make an example of them. They are the people who are doing the most harm to Bitcoin and we should flag all these scams, before they do too much harm.

Another sad day for legal Bitcoin users. ^grrrrrrrrrrr^

Little do I know about BTCGlobal though I've been seeing a lot of people shilling out this company over the last year. What happened currently seems like connected on what had happened with another supposed ponzi-scheme—albeit quite unknown to the world—NewG which failed to pay their investors for weeks now and are facing the same problem like what most ponzi scams do when they can't pay their investors.

What amaze me is why would the admins of this company entrust their money with a complete stranger that the only mode of contact they can use is through Facebook and email? And the account seems to be pretty generic too, so they are just making some cover-up stories to buy time and transfer the money somewhere. Bitcoin has been carrying the blame from irresponsible investors and scammers ever since, and I somewhat expect that this would continue to happen even if there'd be tight regulations since some people are just too dumb to join these type of things.


And clearly the so-called elite policing unit don't know much about bitcoin. It's too cringey to read something so generalized knowing that not even a single effort to research on the facts have been made. Oh well.