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Be aware of GMG website, should Incase kind of website will be close to your country, this site is a ponzi scam website where you will be asked to invest with the them, some days a go some people who invested with site because of a skirt Maker who promoted the site and many people thought with the skirt Maker who is promoting the GMG website that the site will be legit. So I'm of the opinion that we should avoid ponzi scheme and also make sure we make a research properly before investing in a newly created website. To inform you very well the website has crashed and people who invested their money, all are lost. Let everyone be careful for investment.
https://i.ibb.co/1npPBVF/Screenshot-20230505-203523.jpg (https://ibb.co/Db6vmX0)
https://i.ibb.co/yYTPydj/Screenshot-20230505-203508.jpg (https://ibb.co/Yy9QkPs)
https://i.ibb.co/Yhm2Hpd/Screenshot-20230505-203603.jpg (https://ibb.co/qpKBTkg)
https://i.ibb.co/bsBBJCg/Screenshot-20230505-203535.jpg (https://ibb.co/rx66szG)
https://www.nairaland.com/7675996/ponzi-scheme-gmg-finally-crashed

Don't trust influencers. They can scam you intentionally by working for Ponzi projects but they might even not know that project is scam and they eve lose their money too.

Crypto Investing and the Curse of the Luna Tattoo (http://bloomberg.com/news/newsletters/2022-06-02/crypto-investing-mike-novogratz-and-the-curse-of-the-luna-tattoo)

Mike Novogratz lost his money with Terra $LUNA too and if you followed his investment decision, did the same thing, you lost money too.
https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iKEnUab3PkX4/v1/1000x-1.jpg

I Googled "GMG" and received a variety of results, none of which were investment sites; some were maritime sites, while others were for reservations. Therefore, including a direct link to the site is preferable.


The skirt maker was contacted or asked to help them promote their project not because of his knowledge of the project, but rather because of his influence, or the number of people that the project could reach through him.
I wouldn't be surprised if the skirt maker in question never visited the website he promoted; as long as these influencers get paid, they couldn't care less about what happens to their viewers or those they claim to be fans.

It's now being repeated everywhere DYOR, regardless of who is selling you a project, if you haven't done your own research, don't buy it.

P.S. Please reduce the size of your images as they take too long to load and mess up the appearance of your thread.

GMG stands for Graphene Manufacturing Group according to the screenshots in OP. I don't know if some Nigerian scammer created a lookalike or fake website with the same name. From the little research I did, the real Graphene Manufacturing Group is headquartered in Australia. It's also a publicly listed company whose shares you can trade on the stock market. It's a bit difficult to understand OP with the way he is expressing himself.

If it has crashed already then that means that people should be aware of any the same scheme as what GMG has made to you guys. And trust no one even if the advertiser is going to be a very influential person or celebrity. The fate of these investments are not in their hands but still in the hands of the developers that has the intention to scam people. They're just good as advertisers but after getting paid, they can go away from any trouble from them. But just as the US, they've got serious law about these influencers and advertisers to become responsible to what they are advertising with.

Most of these websites promoted by skirt makers cannot be fully trusted because even skirt makers cannot be trusted when it comes to money and investment.

Such websites have their own goal, and once they achieve it, they run off with other people's money. However, those who participate in such websites' Ponzi schemes are typically run by greedy individuals who want to make quick money without learning anything about cryptocurrency. To avoid such a story, it is always advisable to conduct extensive research on any website or platform where you intend to invest your money.

Why would any one ever get their Information or advice on what to join or use from a promotion they found in the video of a skit maker.

Skit maker are content creator who are trying to use the popularity they have gotten from the content they been making to get profit.

Many of them to scrutinize those who offer them any deal they would be financially earning from. I know of a particular skit maker that was an ambassador to what latter became a fail and scam Exchange in my country.

https://www.talkimg.com/images/2023/05/06/Screenshot_20230506-164105a7e0a99b8aeb19b1.png

LOL, it looks like some people are already investing in it. It will sure be what it used to be: ponzi and people looking to make quick cash, so definitely some people will fall victim, apart from those reading through this thread, those that the ponzi have not extended to their country, and people who remain unmoved in this aspect of making money. Obviously, there are going to be more of these ponzi schemes arising before the end of this year; people just have to be careful and do proper research before putting in their money on any platform.

greed always destroys people, ROI that is too big will always make bad luck in the future.

in the US there is FINRA which helps a lot of people in educating people about the dangers of fraudulent investments and ponzi schemes but in third world countries, the institutions responsible are very small because the attention of the government in that country about citizens trapped in fraudulent investments is not big.

Therefore, before you really get caught in a bogus investment or ponzi scheme, be skeptical and don't easily believe in any promises that are offered because everything is just bait.

This is what you get when you invest in a get quick money scheme just like this one, well am not surprised to see that it has crashed already because the rate at which I saw a lot of people advertising GMG in the internet without proper findings got me so worried, l think there's no need to advise people again on investing in Ponzi scheme businesses because they never get to learn after losing funds and once they get information about a new one, they will also rush and start investing until they lose all the money they have. I believe so many Nigerians will be in tears now on hearing about the crashing of GMG but I hope they learn from this because this is not the first time they have cried out loud after losing funds from so many Ponzi scheme Investments.

We shouldn't trust many of these celebrities when it comes to financial matters, even if you are one of their followers, because it is not a new thing that many of them are aware of kind of advertising  they always do but due to money this scammers do offer them make them fool public.

I've learnt my lesson, so no one will be able to persuade me now  to invest in any internet businesses that offer a some of percentage of my investment because I've already made that mistake before.I believe that by this point, people should have realized that there is no such thing as free money online and stop participating on all this online investment that always promise them huge return. If I imagine how, in the past, the money that people wasted on ponzi schemes may have been better used to invest in bitcoin.and I may say these kind of people may be aware of the possibility of investing in bitcoin but they will never do so because they are only interested in getting quick money.
 

Anybody can take the contract of the job to promote a business or websites but ours is to give everything we see online a second thought before assuming them to be genuine, investing in an online website that promises you a massive return within a couple of days should indicate a scam to you except for a novice, this are the limes of projects that makes people loose interest on bitcoin believing everything that is a digital network is a scam, because they have scammed many people in the past and they no longer finr that trust again with anything that deals with online business, but bitcoin is a changer of it all, except if you're asked to to do shady things or reveal your privacy with online influencers about your bitcoin and get you scammed.

In my opinion, anyone who is gullible enough to take financial advice from a comedian should be ready to take responsibility when that investment fails, the skit maker in question does not make contents on investment and cannot be said to be knowledgeable on such subjects. I’m sure he didn’t do research on the platform before using his socials to do an advert for them, I don’t think the victims can hold him accountable for their lost funds.

The offer was just too good to be true, and is obviously a hyip…robbing Peter to pay Paul but yet the signs were ignored by people who wanted to make internet money. It’s that time of the year again, and we are seeing more scams come up with enticing offers.

When it comes to bitcoin and cryptocurrency, no influencer or skit maker should be trusted, most of them just care about the money they will be paid, and they don’t care to confirm if what they are promoting is right or wrong. Have seen different skit maker marketing Ponzi scheme in my country, but from what I noticed, I think most of them are always among the owner of the sites or the Ponzi scheme, so it’s just like they are marketing their product. I think the best thing that should be done is that if any influencer or skit maker market any product and it’s turn out to be a scam, then they should be arrested and investigated, if they are found guilty then they should be punished.

So people invested in something they did not research about simply because a skit maker promoted it, very silly! the truth is they invested because of their greed in wanting to get rich quickly but are now blaming the skit maker who was simply doing a job he was paid to do for everything.

There have been more terrible Ponzi schemes that have been done in the past that many people fell victim for that should be enough to teach a lesson to not just the people who experienced it, but anyone who hears it. But as long as there is greed, there will always be people that will be victims of Ponzi schemes.

The entire explanation so bizarre and confusing but then it's all about them schemes of invest $8 which is equivalent to 4000naira and get 1000naira daily. Few days ago I saw close pals doing same shit I was persuaded to do same but all fell on deaf ears.
Some group of people recently invested to get returns but last night all I hear was that they found it difficult to withdraw the daily returns they was suppose to get.

So in conclusion, OP was trying to send a clear warning to the public to stay away from investment sites like it. At the headquarters shit might be going well but to make gains they must have built up a site to steal funds from folks I guess.

This is not happening with Nigerians only, many people from different part of the world are into HYIP ( High Yield Investment Plan ) and by the time goes on they crash on new people, oy those that get into the game from the launch date will make some money and exit the scheme before it's too late, I was into HYIP before I know about Bitcoin, I started with USD before Bitcoin payment was allowed and I got greedy, hoping that my daily money enter my account, one day the earth stood still. Before I knew what's going on the website is no more working.

There is always a first lesson to be learned, either the soft way or the hard way, but that's not the issue, the problem is encountering the lesson and not learning from it, when this happened to me I made a promise to never go back into such again.

Whatever the reason try to avoid the loopholes that promise huge returns from anything other than a ponzi scheme there is a process you have to go through every time you try to make a profit and even when you try to invest in bitcoins. There is no instant form of making a profit instead it takes a process to go through, there are many reasons not to trust this scheme and probably many of the cases we have seen so far about fraud being run like this.

Be wise in choosing and pay attention to the level of risk posed by third parties, because if you want to play it safe you should try to invest on your own and the OP should reduce the size of the image because it is too big and doesn't look good or you can combine several sides to make it look neat.

GMG what a ponzi scheme that was launched last week. My neighbour introduced me to this ponzi project last week Wednesday to invest in it,that I will get paid everyday and in four days time I will get back the amount of money that I invested and I will start earning one quarter of what I invested everyday. I looked at it and I told her that it is a set of scammers that have come with the project to scam the greedy ones off their funds, that for this I wouldn't invest because it will crash anytime. I have fallen victim once and ever since then I don't do anything about money on internet with strangers. This project is like other shitcoins project which they pump up under a trickle of an eye and go down to zero in no time. Beware of scammers, they come with different strategy.

I have seen that some people has already invested in the platform, and the platform has crashed, but one is that we have to scruntized a platform before we venture into investment, from my understanding concerning ponzi scheme investment none of ponzi scheme can be say to be real, and what actually attract some people such investment is the profit difference I saw on the picture of op, so greediness is the major factor or condition that pushed people to go into such kind of platform to invest without verification, so people doesn't research for a particular platform before patterning with the platform foe investment, at least we should have known the durability of platform and if the platform is ponzi before venturing or investment our hard earn money for scam investment platform.

I once got deceived into investing in Centra (I hope I got the name right as it happened a long time ago) because Flowd Mayweather was its poster boy, it was the same thing when I also invested in Electroneum (ETN) which a Premier League football coach also promoted. While Centra has since died off, ETN has continued to crash since it was created. In the past, I used to trust influencers and celebrities on whatever projects they supported or advertised but not any more. They're also humans like me and are probe to bad choices too.

Talking about ponzi, the thing is that most people who invest in ponzi projects are often aware of what they're getting into but they hope to get out fast before it crashes. Most people don't have the patience of waiting to reap from their efforts in crypto investment. They want it fast and sharp, the highway pattern but that's not how genuine businesses work. So, they turn to Ponzi schemes. If I know someone is a senior ranked user and they fell prey to ponzi, I don't pity them because they should know better.

Jesus!!! Thank you my brother for sharing this post, actually this morning my cousin sister was telling me about this so called GMG platform. She wanted to refer me and get #1000 or something thereabout, that any amount I deposited into website will yield it back within 4 days. That's to say, if I invested #10,000 today I will be paid #2,500 every day for 4 days something like that.

I was even telling her to move out her money that this platform may not last for at least 4 months so if she's wise enough she should withdraw whatever amount she has made from it. I was just surprised coming across this post and I said thank God she didn't succeed convincing my wife because left for me alone i won't investment my dime in that fucking scamming site.

I wonder why people are still blind to the huge red flag that surrounds anything Ponzi or even looks like Ponzi.  The GMG platform is just one of many sites that greedy people fall victims to.
I have never been partisan to anything that involves bringing referrals to earn profit or register, share to groups and contacts and win big' brouhaha.
Only greedy people still take such risk mostly without asking proper questions first.

There is nothing strange about it, it's just business and those who happen to take these influencers too serious should as well be ready for the backlash that accompanies there strick adherence to whatever is sold to them.
You've got to understand that, this is just business and in almost every case, these guys dissociate themselves from these project under some disclaimer term. They are in it for the money as influencers and not as investors. They could even earn more through you by using referrer links.

One means to always spot these schemes is, they've got no project they are selling, they operate on a pyramid scheme and there needs to be an influx of new users to continue. Unfortunately, that's something that doesn't always happen and as such, what happens when the new users stops coming in and the old users are about taking profits. Its a crash and that makes it a bad investment.
Ponzi schemes is a must avoid.

You raised a good point, but i think your advice will be of no use because many lazy people will not avoid falling prey to such schemes in the future even if they had read your post. For example, last year in January 2022 (https://www.coindesk.com/policy/2022/01/10/pakistans-investigation-agency-contacts-binance-about-100m-scam/), 11 apps (investments apps) scammed citizens of my country, and stole $100 million, Can you imagine the amount of money, i think this could be used in many other good works but scammers just fly away with such huge money, people who have invested are on the roads as many invested more than $80k.

The investigation is still ongoing and people are left with no hope, can you imagine only 26 wallets were involved in these and all of them were linked to Binance And still nothing has been done (AFAIK).

You must be thinking, Pakistanis must have learned a great lesson to not trust pyramid or Ponzi schemes, but you know what, We were scammed again in 2023 by another Ponzi website about trading "IDA" which works in the same ways as others, like ask people to bring more people and convince them to make at least $125 investment to earn more or withdraw. Final loss is not calculated officially as the scam is new so i think this might take some time.

The point is, if a new app will come next year, we as lazy people who want to do nothing and wants to earn in dollars by doing nothing will again fall prey to such scams. i even wonder what type of these people are who easily invest their big amounts of money on such apps. I don't even spend my time on observing one because those who understand the technology they do know how to earn and how to avoid scams.

And op, I am just wondering what research you would be doing on your smartphone so that you have to open 88 browsers hehe. Well one thing that I like about SP is they can handle a large number of tabs like once open 150.

Centra does not run from its investors and supporters, the government flagged Centra as fraudulent because they use Visa Card services and claim to be in partner with the company where the truth is that the negotiation is still in process.  They were too ahead of the negotiation thus getting them labeled as defrauding their clients.  They did not run instead face the charges and is proven to be guilty as charged and now in jail.  Obviously when the head of the starting company got jailed, its project will definitely crash.  That is what happen in Centra, IMO.

Maywether Jr. on the other side got fined twice the declared earnings if I am not mistaken. 


The pioneers of this ponzi schemes are well aware of the system but those who are on the endline are not.  Reason why there are people who are filing charges against their sponsor (the peopel who refers them to the ponzi company)  Their greed made them too excited and triggers the urgency to invest so they skipped all the necessary research and got baited and trapped.

I think in order to detect a ponzi scheme we should always look for the sign and the one major sign which can be easily identified is ... the offer is too good to be true.

By look the image on your thread that is obvious ponzi scheme it some kind of High yield Investment Program here look at it there is bunch of other here https://www.hyipexplorer.com/  ;D

Guarantee Return with high yield is most likely a scam. Ponzi scheme is never die but for some reason people who invest in it is also never die. People keep investing it make ponzi like this maybe become Multi Billion company if the ponzi like this has a stock the annual report will always green hahaha.

just avoid it when you see like this, also don't fall with fake giveaway too How to protect yourself from fake giveaways. - https://bitcointalk.org/index.php?topic=5222603.0

However you put it, it still gets down to the fact that the founder's behaviour was a bit snaky. How does one declare they already have a partnership with another person/company when the deal hasn't scaled through if not in their bid to deceive? From your narration, it's obvious that Centra's founder wanted to quickly latch on Visa Card's popularity and wide spread to market Centra and get many unsuspecting investors to wrongly think Visa was on the deal but that backfired. As for Mayweather getting penalized for his role, it didn't change anything because no money was refunded to investors. It was all a planned deal from the beginning.

Thanks to the OP for warning about dealing with dishonest ponzi schemes like GMG. Indeed, it is very important for us to understand the warning signs such as unrealistic promises of returns and fast payments in a short time and also often use the fraudulent tactic of sending phishing emails that trick people into entering their personal information.

There are many dishonest projects out there that take advantage of people's ignorance and greed to make money in illegal ways. Therefore, it becomes important to carry out careful research before making an investment and not rush into joining a project without checking their credibility and track record. In GMG's case, it's unfortunate that people have lost their money trapped in the ponzi scheme. This shows how important it is to always be careful and alert when faced with investment offers that seem too good to be true.

Always check the reputation of the company and the people behind it, and don't be tempted by promises that are too good to be true. Yes, that's right, we shouldn't trust celebrities or influencers too much when it comes to finance or investment. Even though some of them may have knowledge and experience in terms of finance or investment, there are still many celebrities or influencers who only participate in paid advertisements or promotions without first checking the truth or credibility of the product or investment they are promoting. because There are many cases where influencers or celebrities are involved in the promotion of products or investments which are ultimately proven to be fraudulent or illegal schemes.

We should try to avoid the get rich quick syndrome. Ponzi schemes capitalize on our greed to reap where we did not sow. When someone tells you to invest a small amount of money and within a week you will start earning five or ten times the amount invested, that is when we should see the red flag, because if something like that is possible then he will continue to reinvest his capital into the business without telling even his friends.

But my worry is when they use celebrities, which I have seen. People will normally trust that these celebrities have their image to protect and therefore will not tarnish it by advertising for criminals. I think that these celebrities should be arrested if it is proven that the investment they promoted is fraudulent.

quote author=Adbitco link=topic=5451526.msg62210311#msg62210311 date=1683486251]
Jesus!!! Thank you my brother for sharing this post, actually this morning my cousin sister was telling me about this so called GMG platform. She wanted to refer me and get #1000 or something thereabout, that any amount I deposited into website will yield it back within 4 days. That's to say, if I invested #10,000 today I will be paid #2,500 every day for 4 days something like that.

I was even telling her to move out her money that this platform may not last for at least 4 months so if she's wise enough she should withdraw whatever amount she has made from it. I was just surprised coming across this post and I said thank God she didn't succeed convincing my wife because left for me alone i won't investment my dime in that fucking scamming site.
[/quote]

To start with, anything concerning Ponzi scheme is a no go area for me, is something I told myself I'd never engage myself in anymore, have never benefited from it either.
At some point when a friend introduce me to Bitcointalk I thought it was one of those Ponzi scheme crab sites, if I should say, this [Bitcointalk] is the best have ever come across.
I really don't blame people when they hear of such site as this GMG (quick money hurts at times) if a friend who has gotten something from it would likely invite you to join, most likely you won't want to doubt your friend when he said he has cashed out a huge sum of money. Well that's how the owners of this sites want people to see them as legit. Ponzi scheme is just a no no for me, like you said OP, about doing some research, it helps but I don't think these scammers are that dumb to let their end loose, is just a matter of being careful.

every member on the bitcointalk forum can make money but none of the forum members are charged a registration fee or payment for membership activity, so this forum is the safest place.

at my place there are almost dozens of projects that are suspected of using Ponzi schemes, usually, I will identify them if
-- they require new members to give a certain amount of money to get money back with an unreasonable amount.
-- the source of income they generate is unclear ^{(many also only sell dreams)} and no promising products can be seen from them.
-- We as old members who have been members for weeks are forced to add members to our below-the-line and we are forced to deposit a certain amount of money, if don't do that then the income we receive so far will be drastically reduced.

it is not difficult to identify them, and we should all be able to share them with others, for it is a noble occupation.

When you tell them to invest in Bitcoin, they won't listen, the next question they'll ask is when they'll be able to recoup their investment. Most people dream of living a great life, but they aren't prepared for it. If you mention a period of 2-4 years investment, they'll run away.

They want the easy way out that's why Ponzi is a perfect fit for them, make the money and leave they say, but they have forgotten that it could get really hard to quit Ponzi once you start such journey, for whatever we do we tend to get attached to it, that's why legal business is more advisable than illegal business, once a doctor is always a doctor and once a drug lord is always a drug lord, be careful what you choose to do with your body.

Some people lost a lot through Ponzi schemes and they learn from their lesson and there are people who lost a lot and they believe they choose the wrong Ponzi scheme, they are still looking for a better Ponzi scheme, the human mind is really funny at times.

The lesson of this day is that, not all those who fall will learn and remove what caused their falling in the first place, they are ready to keep falling over again.

I almost lost my money too with Centra (I thought it was late for me to invest in MCO and I bought CTR in the pre-sale instead trusting in the potential of the project: really bad mistake in retrospective). And, about ETN, I didn't lose any money, but a lot of my time, because I invested several hours translating their Whitepaper, one of my hardest works so far.

Anyway, none of these projects were ponzis: managers from Centra were caught misleading investors by announcing agreements with VISA that didn't exist, while Electroneum simply failed like many other ICOs did. What OP is talking about is a project that offered a 25% ROI per day: the very definition of a ponzi scheme.

People should know any peer to peer platform requesting you to invest and take huge profits out of the system in short time will definitely collapse in to time living a good number of their investors in losses. There is nothing so sustain such platform as it depends only on new entrants of investors to pay it's existing one.

Lucky you for escaping the complete entrapment. I wasn't that lucky. However, I count the sad experience I had with the project as one of those things we need to go through in this industry to develop a thick skin. I've since moved on but never will I ever get deceived again because a celebrity or influencer advertised a project and then I blindly buy into it.

Time is (also) money, remember.

What is Ponzi then if it's not deceit and misleading people to believing what is not? ETN also made a lot of unbelievable promises about its projects feasibility and usage. Nonetheless, I still get the drift of your comment.

If you're too desperate to make online money then there's no how you will not fall into the hands of the wrong ones because they will always try to influences you to do what tou don't understand or know about, everything in life has a due process without rushing it either, nothing is free anywhere, you have to work for it and earn it before you can be deserving of it, the scam projects are many on the internet rampaging, even our desire for crypto doesn't mean we should go for any crypto project, many of them end being a scam and left untraceable.

Except in the US, I have not heard of any law that gives investors the right to sue celebrities for promoting investments that ended up becoming scams. So these celebrities have the privileged of promoting any service or coin without verifying the credibility of these companies. They are mainly driven by greed and personal gains rather than the security of their followers. Even if there are laws that give such rights to victims of fraud, I would never accept any financial advice from any celebrity without doing my research and verifying the product or service. If I have any questions, the forum is big enough for solutions and answers. Anyone that is in a haste to make big gains will always be very easy to be scammed.

Investments should not guarantee returns over a certain period of time, even if investors can earn returns. Scammer take advantage of the crypto industry to make money, while some greedy people will believe that this is the best way to get rich. Everyone should know what the definition of a ponzi is, and those schemes have always existed in the crypto space if newbies have never been careful.

Being careful, alert and knowledgeable about how to avoid ponzi schemes is the best way to prevent scammers from fill their troughs fast. Remember that bitcoin never promises returns, but its price volatility allows its traders and investors to earn returns.

It pains me a lot still seeing people falling for all this Ponzi scheme of a thing after all the experience MMM did to us many years back, because I could remember a friend of mine introducing me to this very website as the latest update in town currently paying, only for me to have a look at the site, noticed it was a Ponzi scheme & immediately told him not to invest just 3 days ago, that this site will soon crash if not now but anytime soon. So that means that's how he would have lost his fund had I not intervened quickly.

I think it's high time people just need to drop the ideology of greed and focus on the ideology of reality while investing, because for a site that claims to offer 25% of your investment, shouldn't normal sense tell you that that's possibly going to be a scam? Where else do you think they are making the money from if not robbing Mr.A to pay Mr.B? And as such will one day likely run away.

Greed and the desire to make profits without hard work have led some to believe ponzi schemes will guarantee returns as promised. They forget that it is an investment that has been set up in such a way that in the end it will only take away all the customer's money, that is due to lack of knowledge and greed. Even today, ponzi schemes still exist, but come in many different guises, even in crypto.


Of course you can hope for it, but see that ponzi schemes are still able to attract some people to fall for it, especially when promised easy returns. Some people who are skeptical about bitcoin have called it a giant ponzi scheme, but they are just ignorant and probably don't want to know much.

People who make in big from Ponzi schemes are those who joined in early. Almost like the early adopters. They make the big money and silently leave or allow their downlines to  go on doing the hard work. We have al been there and go our fingers burnt badly.

Ponzi schemes play on the emotions of people. And from experience anyone can become a victim of it, irrespective of who you are because people from all walks of life are involve. Best to stay not just stay away from Ponzi schemes but also from their promoters and supporters they are the most dangerous people.

People don't learn and they won't and that is why they will keep suffering. I keep telling people to avoid Ponzi schemes no matter how juicy the offer might sound. In fact, the offers of Ponzi are always juicy and unbelievable. The way these Ponzi schemes work is they pay a certain set of people, so those people can preach the gospel of how they got paid and unknowingly recruit more people into the scam. So these people that have been paid are like the proof that the stuff actually works. This means that the person telling you about the scheme, might actually just want the best for you because he/she has already been paid.
So the best thing to do is avoid anything Ponzi entirely, it doesn't matter how much you trust who it's coming from

Some people would even argue with you if you warn them about a Ponzi scheme that they are a part of, they will say that you know nothing and it won't run away with the funds and will keep paying. They keep inviting others to it since they earn money because of that, and they keep telling their referrals that they will earn money too if they invite more people.

But when the project actually shuts down and runs away with the funds of the people who joined later, the people who argued initially become ashamed of not listening but they basically get their own ROI and those who join later get burned out.

Well you can not prevent everyone from falling victim to ponzi scheme, some people are just unawera and also uninformed about things that happen around them. I don't know for others though but some times we really can not blame some people that fall into these schemes because most of them have really passes through some difficult situations in their life and when they hear about anything that can give them quick profit, they will just divert their attention to it and if they just hear one or two person giving testimony about the ponzi, they will totally agree to it, not knowing that it's just a plot by those ponzi platform to win the trust of a whole lot of people and when they have succeeded in doing so, they will just carry out their plans of ceasing all individuals funds and disappear.

We can prevent people not to be victim of scam with carrying out a campaign against scammer's with their fake platform, like assuming it's when this GMG platform was launched newly and people noticed it in time raised alarm of the ponzi scheme been a scam investment platform some people who lost their money wouldn't have lost their money, from the picture you can see that people has already invested and also been scammed

Campaign or no campaign, the information will not still get to everybody, and some people will still fall victim unless the government has seen how serious the case is and decided to take a general action against it, like broadcasting the news on both radio, television news stations and the news paper; otherwise, the information will not still get to everybody. If you still carry out a campaign on the forum, not everyone might still be aware, and if it's only a campaign on the forum, how about people outside the forum?

And before the government can actually come into play in any situation, that depends on how serious the issue has become. All this online ponzi, the government doesn't really pay much attention to it in my country.

One of the reasons for participating in ponzi schemes is the fact that newcomers do not understand how the cryptocurrency market works. The existing stereotype that you can earn a lot of money out of thin air here makes them believe in the promises of scammers to increase their profit.

Ponzi schemes are nothing new in the cryptocurrency world. In fact, it turns out that there are many projects or parties that intentionally grow up ponzi schemes for certain interests in order to benefit from the effects of the ponzi scheme. That is, a project will rise to hype, there will be big FOMO carried out by various parties, so usually the developers or certain parties will really get the benefits from this increase. However, they will not care about their fate after a drastic rise and then a drop again. since the cycle is over, they will no longer care. This is why ponzi schemes are included in the criteria for scams because most of them scam victims who usually don't really understand.