But why people the still choose Ponzi schemes over bitcoin?

[SmartCharpa]

Nigerians would never learn at all. After all the shege everyone had experienced MMM and another Ponzi scheme that stole their money, some foolish people continued to believe in another one called CBEX. I've been reading online news about CBEX stealing people's money, and I'm just laughing about it because even though you told them it was a scam, many Nigerians will still follow the backyard to invest their money in it.

However, before all of this online drama, I saw a tweet on X from this person call Connectwithtola warning people to be careful about how they put their money because the CBEX is a scam. I believe many people would doubt him after he said that, but this is it, they have already lost millions of money, shishi they no go see on the 15th, otilo.

Most Nigerians are blinded by the economic situation that they forget so easily, they've forget the days of MMM, Ultimate Cycler, Raskteli, Green energy and the rest of it's kind, funny enough most of these of people lost heavily from those old ponzi's I mentioned but they still keep falling victims to the recent ones cause of greed, I don't feel pity for anyone losing money to CBEX, they deserve it cause most of them were aware of the consequences but decided to take the risk, feeling they're early starters and would cash out before the ponzi crashes.

 Another thing is lack of patience, they can't wait for long to make wealth un the future that's why they risk their money into ponzi instead of buying and holding Bitcoin, lack of patience have made many people to make wrong decisions, sometimes it's good for them to be victimised by these ponzi's so they'll learn and be very careful with anything relating to it.

I heard that CBEX just emptied everyone's wallet on CBEX, I'm not sure if that's true, but I've seen many people complain that CBEX has crashed, and some are asking those who invested in it how market. I saw someone crying on WhatsApp about how the thing has crashed and he don lost all of his savings. Just look at what greed has pushed many individuals to do, them invest all of their money and imagine where they would start saving now.

Sometimes I just feel sorry for them because how can those people who have invested all of their money recover? Some may even commit suicide over this thing. However, you must take risks in some areas before you can succeed in life, but we Nigerians fail to see that some risks are not worth taking. I am not sure whether the earlier ones gained their money back on CBEX because I have never seen someone who is happy that he did not lose money.

[Sonia_123]

I see this news on Friday about CBEX when people come the talk say the platform done crash and people done lose all their money them invest inside. For those way no know waythin be CBEX, it stands for China Beijing Equity Exchange. According to them say nah digital asset trading platform way you fit dey trade. But plenty experts done the warn say the platform gets all the look-alike of a Ponzi scheme just as MMM was. Now since Friday 11th April Investor never fit withdraw their money and the platform the drop message say nah till 15th April them fit the do withdrawal. Somebody now the cry say him no fit withdraw him $60,000 him put inside and many others too.

Even the way the world done they now with information at the palm of the hand with just a click to the internet people still no the want feat differentiate between real and fake assets and platforms. Since I know about bitcoin I never hear this shitty stories but people for we Nigeria no want to they exercise patience to invest inside bitcoin where their money no go get scammed. Normally we know say when Ponzi scheme wan crash na this type of excuses them the start with to control the fears and carnage the information of a sudden crash feat cause their foolish victims and also for the scammers to get ample time to clean any traces.

My people make sure to avoid Ponzi scheme no matter the means or channel it takes come Ponzi na Ponzi and it go bite you last last.
https://x.com/MobilePunch/status/1910693893365989881?t=bWy5xcEGXCMJxVeuSuVikA&s=19

The truth be sey na the high level of poverty wey dey naija na him dey cos am and so dem think sey dem go fit make sharp sharp money dem kna know sey na one chance dem dey enter for dem mind set Bitcoin investment e too tey because sey na for long-term, dem need money wey dem go use sharp sharp take chop and solve problems

[Dzwaafu11]

I think that most of them don't realize that something is a Ponzi scheme, it just flies over their head, be it because of ignorance or just lack of knowledge.

Many of them know that something is a Ponzi. Because why will you invest in a project that promises you 2X just in a short period of time? You should know that you are just joking and that is impossible; however, some of them enter the crypto space without the proper understanding of how the market is moving and also the risk that is attached to the investment, but they are blind.

They are after a quick scheme that will make them rich, and that is why they are going for a Ponzi scheme. But to be so, get someone to even know if it’s a Ponzi scheme or not. All they want us to do is invest in cryptocurrency without making any research about where you are about to put your money into it.

The truth be sey na the high level of poverty wey dey naija na him dey cos am and so dem think sey dem go fit make sharp sharp money dem kna know sey na one chance dem dey enter for dem mind set Bitcoin investment e too tey because sey na for long-term, dem need money wey dem go use sharp sharp take chop and solve problems

That is not true, though. You can’t say because if there’s high poverty, I should invest in where the small amount of money I get to risk will go. If you don’t have much money to invest, that should be a reason why you should find a safe place to invest and not a coin that is high risk, and the possibility of losing your money will be higher than the possibility of getting your money back with profit. Even if it will take time, it’s better you do that than lose your money somewhere that isn’t worth it, so it’s better to make research and invest wisely.

[Princess Leah]

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I heard that CBEX just emptied everyone's wallet on CBEX, I'm not sure if that's true, but I've seen many people complain that CBEX has crashed, and some are asking those who invested in it how market. I saw someone crying on WhatsApp about how the thing has crashed and he don lost all of his savings. Just look at what greed has pushed many individuals to do, them invest all of their money and imagine where they would start saving now.

Sometimes I just feel sorry for them because how can those people who have invested all of their money recover? Some may even commit suicide over this thing. However, you must take risks in some areas before you can succeed in life, but we Nigerians fail to see that some risks are not worth taking. I am not sure whether the earlier ones gained their money back on CBEX because I have never seen someone who is happy that he did not lose money.

Whatever you heard about the CBEX crash is true dear, too bad that some of our citizens who participated in that scam called CBEX would end up in the sick bed, that's if they don't commit suicide like you said, all thanks to their greed and inability to different a scam investment from a legit one, people don't learn.

 At this point, I don't feel pity for anyone who goes into ponzi cause most of them were aware of the consequences but decided to take the risk, like how would one invest heavily into a scam investment all in the name of risk taking, I can't feel pity for such person, it's just like being fully aware that you'll get burnt by fire but still insist in putting your hands into it to see if it would really hurt, that's foolishness, MMM thought lots of us serious lessons and we learnt those that are yet to learn are considered foolish and I don't feel pity for such people.

[Curious T]

People have simply refused to learn. We all saw what happened during MMM and other Ponzi schemes boom in Nigeria, we saw the forex trading scam that happened around 2019/2020, yet people still decide to fall for cheap scams like these.
I had no idea about this CBEX whatever till this morning, I had no idea so many people can still fall for such a scam. It just goes on to show how gullible people can be.
Show them a genuine investment or work, and they will doubt you, but deceive them with sweeteners, and they will fall for it.
This is not just ignorance, it's more than that, it's greed. They want quick money by all means necessary.

I'm more mad at the government. A very foolish entity that has no way of protecting its citizens. They just care about enriching themselves and making sure they and their party keep getting elected to office.
Scams like these operate freely in the country and get a way with whatever they want but their problem is Binance. They claimed Binnace was the reason for the crash of the currency (which we all knew was bullshit). Newsflash, Binance P2p ended since yet the naira keeps crashing and its still unstable.
We all know the reason they did that to Binance was because they refused to pay the bribes they asked for.

[Hatchy]

Even the way the world done they now with information at the palm of the hand with just a click to the internet people still no the want feat differentiate between real and fake assets and platforms. Since I know about bitcoin I never hear this shitty stories but people for we Nigeria no want to they exercise patience to invest inside bitcoin where their money no go get scammed. Normally we know say when Ponzi scheme wan crash na this type of excuses them the start with to control the fears and carnage the information of a sudden crash feat cause their foolish victims and also for the scammers to get ample time to clean any traces.

I never heard about this platform until recently when I saw it on social media about peoples money being stolen. I tried doing some findings and I was surprised how many average Nigerians actually invested a lot of money on this platform hoping to get more money back. The problem with Nigerians is that we leap before we look. Several times news publications had been out saying that they all should be careful of that platform but so many just didn't listen, until it happened.

There are so many better ways on line to invest money on, but people only trust what they know. They don't want to try something new so long they already have a bad idea about it. Well, what happened was devastating but then it should serve as a mistake to many Nigerians.

[SmartCharpa]

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Whatever you heard about the CBEX crash is true dear, too bad that some of our citizens who participated in that scam called CBEX would end up in the sick bed, that's if they don't commit suicide like you said, all thanks to their greed and inability to different a scam investment from a legit one, people don't learn.

 At this point, I don't feel pity for anyone who goes into ponzi cause most of them were aware of the consequences but decided to take the risk, like how would one invest heavily into a scam investment all in the name of risk taking, I can't feel pity for such person, it's just like being fully aware that you'll get burnt by fire but still insist in putting your hands into it to see if it would really hurt, that's foolishness, MMM thought lots of us serious lessons and we learnt those that are yet to learn are considered foolish and I don't feel pity for such people.

You are right, many of them who lost their money are aware that this might end badly, but their greed and strong heads will not let them be. You know, we Nigerians get strong heads that if we don't see the end of it, we'll never go back or accept it's a scam. All over the internet, you can see people mocking those who put their hard earned money on that stuff since even educated people failed to act like one.

However, I watched a video today people are going to the CBEX offices and looting anything they see, including AC and everything else they can find. According to another video they shared, a lady wanted to kill herself after CBEX crashed be she invested $50 million in it. I don't know where some people's greed has taken them, but if I had that kind of money, why can't I think of other investments like Bitcoin? This is the 15th of April, and if they don't get their money back, some people may commit suicide.

[sokani]

You are right, many of them who lost their money are aware that this might end badly, but their greed and strong heads will not let them be. You know, we Nigerians get strong heads that if we don't see the end of it, we'll never go back or accept it's a scam. All over the internet, you can see people mocking those who put their hard earned money on that stuff since even educated people failed to act like one.

I been no know about CBEX until I stumble on the news today say e don crash. Nigerian people no dey hear word at all. Oyinbo talk say once bitten twice shy but I no go surprise say people wey MMM and other ponzi schemes don burn still carry their hard earned money put for this platform. The crash nah real and the amount wey the scammers steal from nigerians nah $847 million dollars, that's 1.3 trillion naira.

[IjawMan]

I see this news on Friday about CBEX when people come the talk say the platform done crash and people done lose all their money them invest inside. For those way no know waythin be CBEX, it stands for China Beijing Equity Exchange. According to them say nah digital asset trading platform way you fit dey trade. But plenty experts done the warn say the platform gets all the look-alike of a Ponzi scheme just as MMM was. Now since Friday 11th April Investor never fit withdraw their money and the platform the drop message say nah till 15th April them fit the do withdrawal. Somebody now the cry say him no fit withdraw him $60,000 him put inside and many others too.

If we get anybodi here wey be victim of dat CBEX nonsense, we supposed pour am water wey pepper dey b4 we wipe am 2 by 2. I nor get single sympathy for anybodi wey fall for Ponzi bc most of dem dey get idea wetin dem dey do and go still chook head put. These people want fast money. Dem dey neglect the process of sowing and harvest seasons..

Hahaha abro you funny oh, person when done lose money ontop na you want wipe am plank that one no be double whahala.
I do grap what you mean because na the height of stupidity say person way they this our forum and know about bitcoin go come still the go backyard the do Ponzi scheme instead of to invest that money for bitcoin. Me when just come the forum I know how much things I done learn sef not to talk of people when they here before me. For this life anything way be fast means of making money no the end well, either e go take your life short or you go lose something valuable.

[IjawMan]

Even the way the world done they now with information at the palm of the hand with just a click to the internet people still no the want feat differentiate between real and fake assets and platforms. Since I know about bitcoin I never hear this shitty stories but people for we Nigeria no want to they exercise patience to invest inside bitcoin where their money no go get scammed. Normally we know say when Ponzi scheme wan crash na this type of excuses them the start with to control the fears and carnage the information of a sudden crash feat cause their foolish victims and also for the scammers to get ample time to clean any traces.

I never heard about this platform until recently when I saw it on social media about peoples money being stolen. I tried doing some findings and I was surprised how many average Nigerians actually invested a lot of money on this platform hoping to get more money back. The problem with Nigerians is that we leap before we look. Several times news publications had been out saying that they all should be careful of that platform but so many just didn't listen, until it happened.

There are so many better ways on line to invest money on, but people only trust what they know. They don't want to try something new so long they already have a bad idea about it. Well, what happened was devastating but then it should serve as a mistake to many Nigerians.

Same for me not until last week when I saw it on TV in the news about the CBEX Ponzi scheme shutdown which has led investors to panic. In the meantime there is bitcoin for over 15 years now and still going on but Nigerians prefer fast means of doubling their money than doing real investment online.

I wish they can learn their lessons, because I won't believe if I was told that after what MMM did to Nigerians, that any Nigerian will still willfully put his money into any Ponzi scheme again. Imagine the big sums of money people are crying that they lost. Over trillions in total.  After this atmosphere dowse down a few years go by, and another Ponzi scheme returns I bet many Nigerians will still go for it. There's hunger and greed in the land.

[Odusko]

Well, I no fit argue whether the platform na ponzi or not but I must admit that e get plenty red flags. Wetin I observe with people, not only our Naija people ooo but people in general dey very interested in anything wey go give them quick money without efforts. Na why plenty people dey always fall victim for this kind wahala.

As concerning the crash, I no sure say CBEX don really crashed. Wetin dey happen na just misinformation and you sabi the norms na, rumours travel faster than legit information with the help of media and propaganda.



This image above explains wetin dey happen with withdrawal issue but our people are too gullible to believe anything dem hear or read online without making a proper investigation to find out first hand information. The information dey simple, CBEX dey aware of the issue and na deliberately based on say people wan take advantage of the platform by depositing to get bonus and withdraw without making trade which the platform considered as a cheat.

Let me break it down for you a bit. CBEX dey give bonus once you deposit money into your account to trade which is the primary function of the platform. But you know our people always want to claim smartness na. People don't longer trade anymore but want to withdraw the bonus and runaway which defies the reason for the bonus. Na why dem suspend the withdrawal for people wey no get reasonable trading volume. If you get reasonable trading volume over this period, you fit withdraw your money. Na people wey get intention to cheat the platform and people wey dey anticipate the crash dey shout say e don crash.

Lastly, you no fit compare this kind thing with bitcoin. Psychologically, people can risk a lot but can't be patient enough. Bitcoin combine the two, both risk and patience but na that patient dey make people run from bitcoin. They no really care about the risk involved as long as promised them fast money. We dey learn everyday but plenty people are not ready to change their ways. Even if MMM still comes back today, people go still rush am forgetting wetin happen before.

The bottom line of this all is that, no platform that is legit will go about dashing people Money here and there, the fast and best way to spot a ponzi scheme is in the free unrealistic offer's they Chuck our in the form of bonuses for deposits, unlike gambling sites that give you welcome bonuses or deposits bonuses that is subject to wagering conditions, ponzi scheme will just gift our such an imaginary figure as bonuses, and even turning the bonuse into assets that starts generating more profits,this way you will be convinced to feel relaxed and keep making profits effortlessly not knowing that all that is a trap to guf out you money.
My surprise is that with the level of hardship in the country, people still have believe for Ponzi schemes and even putting up trillions of naira, indeed money na water for this country, I just complain people just dey complain.

[SmartGold01]

Well, I no fit argue whether the platform na ponzi or not but I must admit that e get plenty red flags. Wetin I observe with people, not only our Naija people ooo but people in general dey very interested in anything wey go give them quick money without efforts. Na why plenty people dey always fall victim for this kind wahala.

As concerning the crash, I no sure say CBEX don really crashed. Wetin dey happen na just misinformation and you sabi the norms na, rumours travel faster than legit information with the help of media and propaganda.



This image above explains wetin dey happen with withdrawal issue but our people are too gullible to believe anything dem hear or read online without making a proper investigation to find out first hand information. The information dey simple, CBEX dey aware of the issue and na deliberately based on say people wan take advantage of the platform by depositing to get bonus and withdraw without making trade which the platform considered as a cheat.

Let me break it down for you a bit. CBEX dey give bonus once you deposit money into your account to trade which is the primary function of the platform. But you know our people always want to claim smartness na. People don't longer trade anymore but want to withdraw the bonus and runaway which defies the reason for the bonus. Na why dem suspend the withdrawal for people wey no get reasonable trading volume. If you get reasonable trading volume over this period, you fit withdraw your money. Na people wey get intention to cheat the platform and people wey dey anticipate the crash dey shout say e don crash.

Lastly, you no fit compare this kind thing with bitcoin. Psychologically, people can risk a lot but can't be patient enough. Bitcoin combine the two, both risk and patience but na that patient dey make people run from bitcoin. They no really care about the risk involved as long as promised them fast money. We dey learn everyday but plenty people are not ready to change their ways. Even if MMM still comes back today, people go still rush am forgetting wetin happen before.

The bottom line of this all is that, no platform that is legit will go about dashing people Money here and there, the fast and best way to spot a ponzi scheme is in the free unrealistic offer's they Chuck our in the form of bonuses for deposits, unlike gambling sites that give you welcome bonuses or deposits bonuses that is subject to wagering conditions, ponzi scheme will just gift our such an imaginary figure as bonuses, and even turning the bonuse into assets that starts generating more profits,this way you will be convinced to feel relaxed and keep making profits effortlessly not knowing that all that is a trap to guf out you money.
My surprise is that with the level of hardship in the country, people still have believe for Ponzi schemes and even putting up trillions of naira, indeed money na water for this country, I just complain people just dey complain.

I have never seen that good reason why I should pull of my previous Bitcoin in stashing wallet to go invest in other platforms because it's offering a specific amount in a particular duration of time which I know it doesn't work that way. Ahh ahh, check mmm as e take happy that alone supposed teach people lesson say e no good make just dey blindly following up these people while they keeps scamming them at last they wouldn't mind launching a system maintenance or upgrade so they would leave and exit with people's funds.

[Hewlet]

You are right, many of them who lost their money are aware that this might end badly, but their greed and strong heads will not let them be. You know, we Nigerians get strong heads that if we don't see the end of it, we'll never go back or accept it's a scam. All over the internet, you can see people mocking those who put their hard earned money on that stuff since even educated people failed to act like one.

I been no know about CBEX until I stumble on the news today say e don crash. Nigerian people no dey hear word at all. Oyinbo talk say once bitten twice shy but I no go surprise say people wey MMM and other ponzi schemes don burn still carry their hard earned money put for this platform. The crash nah real and the amount wey the scammers steal from nigerians nah $847 million dollars, that's 1.3 trillion naira.

to even think say that money na from poor people when just de look at what to invest in that will take them out of poverty and now they have all been wrecked in this thing. sometimes you no go blame people when after MMM crash and a lot of other investment option crash them still de go into this kind of risky investment. no be us when still de believe say even though bitcoin come down say bitcoin go still recover? the thing na just mentality and how you take understand thing. if you been talk to them at the time they been they invest into am say the thing na ponzi scheme, a lot of them go give you a hundred and one reason why you are wrong. summary is that hunger and the desire to make quick money de blind person to see the risk in what they are doing. even after this one, people when fall victim of this one go still fall victim of another if them no hold their hustle tight.

[Marykeller]

You are right, many of them who lost their money are aware that this might end badly, but their greed and strong heads will not let them be. You know, we Nigerians get strong heads that if we don't see the end of it, we'll never go back or accept it's a scam. All over the internet, you can see people mocking those who put their hard earned money on that stuff since even educated people failed to act like one.

I been no know about CBEX until I stumble on the news today say e don crash. Nigerian people no dey hear word at all. Oyinbo talk say once bitten twice shy but I no go surprise say people wey MMM and other ponzi schemes don burn still carry their hard earned money put for this platform. The crash nah real and the amount wey the scammers steal from nigerians nah $847 million dollars, that's 1.3 trillion naira.

How many times will this ponzi schemes bitten Nigerians before we go learn. If we begin to take note of this ponzi schemes wey don land from Nigeria, you will be marvel by the number wey don come scam Nigerians successfully without our government interference or our people learning a big lesson that money doubling na pure scam

This is the list of Ponzi schemes that have made away with people’s hard-earned money, yet they still jump on the next one.

MMM Nigeria – 2016
Ultimate Cycler – 2016
Get Help Worldwide (GHW) – 2016
Twinkas – 2016
Icharity Club – 2016
Crowd Rising – 2016
Claritta – 2016
Help2Get – 2016
Loopers Club – 2016
Givers Forum – 2016
NNN Nigeria – 2017
MMM Cooperation – 2017
GCCH (Global Crediting Cooperative Hub) – 2017
Money Riot – 2017
RevoMoney – 2017
SwissGolden (Nigeria version) – 2017
NNU (Nigeria News Update) – 2017
Peer2Peer Donation – 2017
Twinkas Reloaded – 2017
Donation Hub – 2017
MyBonus – 2017
ZarFund – 2017
Bitclub Advantage – 2018
Million Money – 2018
Helping Hands International – 2018
DGSOUK – 2018
Pennywise – 2018
Loom – 2019
Crowd1 – 2019
Lion’s Share – 2020
InksNation – 2020
Baraza Multipurpose Cooperative – 2020
Racksterli – 2020
86FB (aka 86Z) – 2021
Eagle Cooperative – 2021
Royal Q (Nigerian scam version) – 2021
FINAFRICA – 2021
Ovaioza Farm Produce Storage – 2022
QNet (Nigeria) – 2022
Afriq Arbitrage System (AAS) – 2022
MBA Forex – 2022
Chinmark Group – 2022
Inksledger – 2022
Axim Exchange – 2022
Compoundly – 2024
CALA (Cala Finance) – 2023
6Dollars Investment – 2023
Sidra Investment (cloned scam version) – 2024
WealthBuddy – 2024
BitFinance Global – 2025
CBEX-2025

#Copied from a friend's Facebook wall

This CBEX na the height of it, base of the amount wey they realize. I hear say interpol go aid in the investigation of this CBEX scam

[Mr Reporter]

I see this news on Friday about CBEX when people come the talk say the platform done crash and people done lose all their money them invest inside. For those way no know waythin be CBEX, it stands for China Beijing Equity Exchange. According to them say nah digital asset trading platform way you fit dey trade. But plenty experts done the warn say the platform gets all the look-alike of a Ponzi scheme just as MMM was. Now since Friday 11th April Investor never fit withdraw their money and the platform the drop message say nah till 15th April them fit the do withdrawal. Somebody now the cry say him no fit withdraw him $60,000 him put inside and many others too.

Even the way the world done they now with information at the palm of the hand with just a click to the internet people still no the want feat differentiate between real and fake assets and platforms. Since I know about bitcoin I never hear this shitty stories but people for we Nigeria no want to they exercise patience to invest inside bitcoin where their money no go get scammed. Normally we know say when Ponzi scheme wan crash na this type of excuses them the start with to control the fears and carnage the information of a sudden crash feat cause their foolish victims and also for the scammers to get ample time to clean any traces.

My people make sure to avoid Ponzi scheme no matter the means or channel it takes come Ponzi na Ponzi and it go bite you last last.
https://x.com/MobilePunch/status/1910693893365989881?t=bWy5xcEGXCMJxVeuSuVikA&s=19

The truth be sey na the high level of poverty wey dey naija na him dey cos am and so dem think sey dem go fit make sharp sharp money dem kna know sey na one chance dem dey enter for dem mind set Bitcoin investment e too tey because sey na for long-term, dem need money wey dem go use sharp sharp take chop and solve problems

I agreed with you if not for the high level of poverty and greed for this our country why such platforms go just enter collect people money like that, well why do I have those mindset of this scam and every yearly period of time e dey happen the last one that happened then was MMM and most people to invest thier money to it and now same this has happened this year too, and the funniest part of it I no really dey swear of this one self. Poverty has really caused most people thier life saving, that why I can invest my money to scam projects like this I rather invest in bitcoin which is more confidential and profitable and has alot for the future's gains  than invest in ponzi schemes like this one's.

[Zaguru12]

I agreed with you if not for the high level of poverty and greed for this our country why such platforms go just enter collect people money like that, well why do I have those mindset of this scam and every yearly period of time e dey happen the last one that happened then was MMM and most people to invest thier money to it and now same this has happened this year too, and the funniest part of it I no really dey swear of this one self. Poverty has really caused most people thier life saving, that why I can invest my money to scam projects like this I rather invest in bitcoin which is more confidential and profitable and has alot for the future's gains  than invest in ponzi schemes like this one's.

The thing I have noticed most about we Nigerians is the quick linking between every greedy situation to the countries poverty rate. This Ponzi schemes are never ever related to anyone been poor it is share greediness from the victims, they simply saw a way to actually double there money and make multiples and greedily they followed suit. How can we say this is associated to been poor were the amount that I hear most people are losing are in millions and not in few thousands. I heard of someone losing 5M, 10M and so on, does a poor person has such amount to leave on a platform for sometime? As long as you can spare this amount then you are not feeding hand to mouth again and you’re simply not poor. Why not continue doing what gave you that money and even diversify to other businesses rather than looking for a quick flip of money.

Personally I do not feel any remorse for anyone affected by this tragedies it is more of a lesson to those who choose to learn, it is like feeling sorry for someone who invested in pump and dump tokens.

[Hyphen(-)]

Personally I do not feel any remorse for anyone affected by this tragedies it is more of a lesson to those who choose to learn, it is like feeling sorry for someone who invested in pump and dump tokens.

I don’t know why Nigerians always fall for such Ponzi schemes easily, Nigerians are always looking for quick way to get money, so they are always after sweet offers that will give them quick money, and these things have been happening for long and yet our Nigerian are still falling for it, is it because of the hardship in the country or we are just greedy?

MMM came and make a lot of people regret, some people lose their entire wealth due to that Ponzi scheme because they put their life savings, some even go further to sell properties just to get huge return which they all regret at the end, yet they still fall for so many scams of such. Because of these reasons, I don’t pity anyone that fall for such scams because it’s clearly shows how greedy and how desperate Nigerians are to make money.

[Cossyblack]

You are right, many of them who lost their money are aware that this might end badly, but their greed and strong heads will not let them be. You know, we Nigerians get strong heads that if we don't see the end of it, we'll never go back or accept it's a scam. All over the internet, you can see people mocking those who put their hard earned money on that stuff since even educated people failed to act like one.

I been no know about CBEX until I stumble on the news today say e don crash. Nigerian people no dey hear word at all. Oyinbo talk say once bitten twice shy but I no go surprise say people wey MMM and other ponzi schemes don burn still carry their hard earned money put for this platform. The crash nah real and the amount wey the scammers steal from nigerians nah $847 million dollars, that's 1.3 trillion naira.

How many times will this ponzi schemes bitten Nigerians before we go learn. If we begin to take note of this ponzi schemes wey don land from Nigeria, you will be marvel by the number wey don come scam Nigerians successfully without our government interference or our people learning a big lesson that money doubling na pure scam

This is the list of Ponzi schemes that have made away with people’s hard-earned money, yet they still jump on the next one.

MMM Nigeria – 2016
Ultimate Cycler – 2016
Get Help Worldwide (GHW) – 2016
Twinkas – 2016
Icharity Club – 2016
Crowd Rising – 2016
Claritta – 2016
Help2Get – 2016
Loopers Club – 2016
Givers Forum – 2016
NNN Nigeria – 2017
MMM Cooperation – 2017
GCCH (Global Crediting Cooperative Hub) – 2017
Money Riot – 2017
RevoMoney – 2017
SwissGolden (Nigeria version) – 2017
NNU (Nigeria News Update) – 2017
Peer2Peer Donation – 2017
Twinkas Reloaded – 2017
Donation Hub – 2017
MyBonus – 2017
ZarFund – 2017
Bitclub Advantage – 2018
Million Money – 2018
Helping Hands International – 2018
DGSOUK – 2018
Pennywise – 2018
Loom – 2019
Crowd1 – 2019
Lion’s Share – 2020
InksNation – 2020
Baraza Multipurpose Cooperative – 2020
Racksterli – 2020
86FB (aka 86Z) – 2021
Eagle Cooperative – 2021
Royal Q (Nigerian scam version) – 2021
FINAFRICA – 2021
Ovaioza Farm Produce Storage – 2022
QNet (Nigeria) – 2022
Afriq Arbitrage System (AAS) – 2022
MBA Forex – 2022
Chinmark Group – 2022
Inksledger – 2022
Axim Exchange – 2022
Compoundly – 2024
CALA (Cala Finance) – 2023
6Dollars Investment – 2023
Sidra Investment (cloned scam version) – 2024
WealthBuddy – 2024
BitFinance Global – 2025
CBEX-2025

#Copied from a friend's Facebook wall

This CBEX na the height of it, base of the amount wey they realize. I hear say interpol go aid in the investigation of this CBEX scam

I be victim of MBA forex Ponzi and at that time I be invest over 500k thinking say na legitimate investment I be dey put my money. The truth of the matter be say I no be person wey like to partake in Ponzi schemes and if you dey familiar with MBA Forex trading and investment company,you go agree with me say Dem be no dey operate like Ponzi schemes because Dem be physical offices across the country,Dem even registered their business with CAC and Dem been dey try to secure SEC licence also.
With all this packaging they were very convincing and a lot people fell for it and the worst part of it is that our govt allow them to operate for 3 years knowing fully well that they're not legit it but because of the bribe they were receiving from MBA forex,they allow them to operate freely.

I blame myself as I be no invest in Bitcoin. I no go lie my friend be dy convinced me to invest in Bitcoin say e dey safe and in the future the coin go get high value but due to poor knowledge about bitcoin and how e works come become the obstacle as I com dey fear say e fit be another Ponzi schemes like MMM.

Some Ponzi schemes like Cbex still dey operate inside our country and people go end up loosing money their hard earned money at the end because e dey very hard to detect the truth. Scammers dey upgrades on the daily and e dey almost impossible to detect some Ponzi schemes from real investments and that is why our govt need to step in. Our govt need to declare war on Ponzi schemes because e don dey spread like wild fire inside our country.

[Nangiconference]

U don't have to blame people because leaving bitcoin for bcex.my dear I just checked the price of buying one bitcoin and I discovered that I will need to have about 135,858,002.87NGN to buy just one bitcoin.
I a member of the forum has been anticipating to buy and hold but where can I have that kind amount of money from? The money is too big. I am a member of this forum discussing bitcoin everyday but I don't have bitcoin due to the requirement which is money. As at last year when I want to invest in cryptocurrency, I bought some Altcoins I was not happy and satisfied as I could not buy bitcoin. If I have the money I will buy and hold.

[Mr Reporter]

U don't have to blame people because leaving bitcoin for bcex.my dear I just checked the price of buying one bitcoin and I discovered that I will need to have about 135,858,002.87NGN to buy just one bitcoin.
I a member of the forum has been anticipating to buy and hold but where can I have that kind amount of money from? The money is too big. I am a member of this forum discussing bitcoin everyday but I don't have bitcoin due to the requirement which is money. As at last year when I want to invest in cryptocurrency, I bought some Altcoins I was not happy and satisfied as I could not buy bitcoin. If I have the money I will buy and hold.

well with this your level of rank e be like say u really are new to investing money in bitcoin because as a investor who those not a huge amount of to buy bitcoin all at once you can start with smaller amount of money using the strategy called (Dollar- cost average ) with is used to accumulate bitcoin with a fixed amount of money at regular intervals regardless the market downturn. And also a quick reminder altcoins can be more of risk to invest in, and it is essential to your own research and another thing to understand the risk.