The rate of cryptocurrency Ponzi schemes de very alarming now, let us beware

[Rruchi man]

... and as you de bring more perticipants you go de climb for dem upline

This is actually all I need to know and hear from any opportunity called an investment that is presented to me because on hearing that alone, that is a big red flag and an education that it is a Ponzi.

I never would have invested in bitcoins if I had to bring even if it was just one person for me to profit from it.

[Wiwo]

The problem is that people are unable to know what ponzi schemes are. If the person they know said he invested and earned money from it, that will make them think it is legit and they will want to try it. Most of those ponzi schemes promise high return but not all. That is the reason you should know what a company is using your money to do. As for me, I do not have any third party investment and that is enough to avoid all ponzi schemes. What I also know is that people will never learn.

Some times I wonder where all this people dey get money from, when almost everyone in Nigeria is saying there is no moneyed people invested such huge amount of money in a ponzi scheme, after all the bad experience of the past, what people don't know is that, any business offers that proclaim high profit returns os a scan, ponzi scheme lime Cbex promises a 100% profits in 30 days, this is were the red spot is in this the promised profits return.

But Greed won't let people to think aright and make the right decision, they allow they greed to cloud their sense of judgements, rather all they focus will be on the expected promised high return which will never come.

If you are not greedy, it will be hard before all this spammers get you, ponzi to me is one of the lowest form of scam that we should look out for.

[CryptopreneurBrainboss]

A lot of scams wey de happen through cryptocurrency don de too much, na only di big ones de make headlines. No be news again say  plenty people loss dem hard earned money for di recent CBEX Ponzi scam, all dem money don enter voicemail because of ignorance. Other crypto Ponzi schemes go de happen but we no go hear because dem no make headlines.

Here's a secret that isn't really a secret, the worst crypto scams happening aren't the Ponzi scheme but the tokens that we buy with hope of them giving us good returns but they scam us and we keep repeating this same mistake often. Make we dey fear the fake projects more self before any other thing because everything for this industry just dey out to take your money. See as memecoins full everywhere and them no get any real plans self to survive after this year. Inside this market there are many Ponzi like system being operated by the projects but untill they're exposed, we keep seeing them as some genuine projects which they aren't. As more people dey hear about Bitcoin na so scammers too dey see opportunity to scam for the market so na we supposed dey careful pass.

[Jegileman]

Di most worrisome thing be say na for radio inside PH im hear about di investment before im come attend dem seminar and register with money. Abeg make we de very careful about get rich quick investments on social media and on radio, na scams dem be. Dis na di Link of di investment platform, abeg no go registeroo, I no bother to open di link, na to show proof I take de share am here. https://go.e1ulife.com/?affid=Ladyfab82

This one really surprise me again. This your brother no hear about the CBEX Ponzi scheme wey chop people money come run, why him come dey fall for this cheap scam again? Need dey to tell many people how easily this people dey disguise through crypt say them go make people get money through affiliate programs.

For long now, once you dey tell me about investment and I hear say till you bring person na him you go make more money or till you bring person na him you go get some benefits, that one na direct scam I dey see am, na one way I dey take sabi all this Ponzi schemes be that.

CBEX suppose open people eye to this kind things but our people no dey always be on the watch out for all this kind things. I just hope and pray say them go dey clamp on this people before them succeed in their mission always of taking advantage of Nigerians because of their situation.

[Promocodeudo]

Here's a secret that isn't really a secret, the worst crypto scams happening aren't the Ponzi scheme but the tokens that we buy with hope of them giving us good returns but they scam us and we keep repeating this same mistake often. Make we dey fear the fake projects more self before any other thing because everything for this industry just dey out to take your money. See as memecoins full everywhere and them no get any real plans self to survive after this year. Inside this market there are many Ponzi like system being operated by the projects but untill they're exposed, we keep seeing them as some genuine projects which they aren't. As more people dey hear about Bitcoin na so scammers too dey see opportunity to scam for the market so na we supposed dey careful pass.

The thing is once we met go if greed and the mindset of trying to make quick money then we can be free from ponzi schemes, the problem with some people is that they want to invest in everything they perceived as profit oriented not minding if they could get their money back at the end, there are many fake projects littered everywhere in the industry which is the ponzi itself but people will still want to try but get stucked and scammed of there hard earned bucks at the end.
You're right, I think we are even entering if not in the season to see more fucked up shitty stuffs called project, so it is left for us to know what we actually want, funny enough some people still recognize shitty projects when they see one but they allow the greed that's accompanied with human nature to occupy there mind thereby making them to make some regrettable and irreversible decisions thats capable of rendering them financially incapacitated, i think is right time people in this industry concentrate in Bitcoin investment alone in other to be free from this things.

[Kelward]

The problem is that people are unable to know what ponzi schemes are. If the person they know said he invested and earned money from it, that will make them think it is legit and they will want to try it. Most of those ponzi schemes promise high return but not all. That is the reason you should know what a company is using your money to do. As for me, I do not have any third party investment and that is enough to avoid all ponzi schemes. What I also know is that people will never learn.

Dis na di question wey most people wey de invest dem money for Ponzi schemes supposed to de ask themselves, because nobody de dash money for internet. We suppose de reason say person wey de collect our money and in a very short period of time im go give us plenty returns on our investment na which business dem de do to generate such profits. Ignorant people go here say somebody invest x amount and dem give am plenty returns, dem go close dem account, sell land, borrow money to invest. By di time wey di scammers don recover dem expenses and make more than enough money dem go disappear.

[laijsica]

A lot of scams wey de happen through cryptocurrency don de too much, na only di big ones de make headlines. No be news again say  plenty people loss dem hard earned money for di recent CBEX Ponzi scam, all dem money don enter voicemail because of ignorance. Other crypto Ponzi schemes go de happen but we no go hear because dem no make headlines.

Here's a secret that isn't really a secret, the worst crypto scams happening aren't the Ponzi scheme but the tokens that we buy with hope of them giving us good returns but they scam us and we keep repeating this same mistake often. Make we dey fear the fake projects more self before any other thing because everything for this industry just dey out to take your money. See as memecoins full everywhere and them no get any real plans self to survive after this year. Inside this market there are many Ponzi like system being operated by the projects but untill they're exposed, we keep seeing them as some genuine projects which they aren't. As more people dey hear about Bitcoin na so scammers too dey see opportunity to scam for the market so na we supposed dey careful pass.

Memecoins buying have already been locked by most traders/investors are not willing to go with them anymore. They have suffered losses and their own/expert research has not been reflected in the market price. It has been proven once again that those people who chose shitcoins to get returns have been proven wrong. Bitcoin is still steadily moving towards its goal and most guys are looking at the possibility of another ATH and are constantly accumulation.

It's seems surprising to me that investors/traders who had faith in those memecoins have suffered multiple losses. The projects lure newbies who are looking for opportunities to enter the market and pour capital into the pots in the hope of getting multiple profits and are uncertainly drowning in regret. Yes some consider them Ponzi schemes and increase their buying considering the sinking price. The past few months and continue been bad times for those traders and darkness future.

[Mpamaegbu]

A lot of scams wey de happen through cryptocurrency don de too much, na only di big ones de make headlines. No be news again say  plenty people loss dem hard earned money for di recent CBEX Ponzi scam, all dem money don enter voicemail because of ignorance.

Nor be really a case of ignorance oh. Most of those victims sabi sey CBEX na Ponzi but dem wan dey clever to pull out before d thing crash. I dey always talk am sey most of those wey dey fall victims to ponzi nor deserve pity. Na greed dey drive their motif.

I tell am pointblank say na Ponzi scheme and im de risk im money for di investment.

Nor dey shocked if u hear sey d persin later go back to invest there afta all ur advice. Na so people dey act sometimes. Na appetite for quick money dey cause most problems for us in this space.

Di most worrisome thing be say na for radio inside PH im hear about di investment before im come attend dem seminar and register with money.

Incidentally, na radio for PH too I take hear about Bitcoin. Na dat programme introduced me to Bitcoin and here I am today. So, good and bad dey radio. Nor too trust and rely on everything wey you hear on radio.

[Asiska02]

Im tell me say you go first register with dem with di sum of $25 and as you de bring more perticipants you go de climb for dem upline. Di more people wey you bring and di more money you invest di more you go de get profit. I tell am pointblank say na Ponzi scheme and im de risk im money for di investment.

Dis wan don already dey give scamming vibes even before them go even get people to believe in them. Scams mostly wey dey tell you say if you bring more people, you go receive more bonus na lie them dey do, dem just dey do am ne to just to gather people wey go dey help dem advertise and in return them go dey think say their income go high later, something wey dem go come scam all of them run. If many of this people wey dey rush join this kind things dey wise enough, dem suppose don see some kind comparison between this new ones and past ones wey don come,  come run with people money.

Di most worrisome thing be say na for radio inside PH im hear about di investment before im come attend dem seminar and register with money. Abeg make we de very careful about get rich quick investments on social media and on radio, na scams dem be.

This radio people sef suppose follow been arrested if at all anything come happen to people money later in the future. How wuna go take dey air something, dey advertise for something wey be scam without wuna doing duly research about am. This one show say wuna just dey after the money wey dem give wuna and wuna no care wetin go be the aftermath of people wey go venture into am just because say wuna advertise am and dem belive in wuna wella. This one no make sense and we as individuals and entities no suppose dey follow advertise things like this wey dey give scam vibes.

[Out of mind]

No matter how much you talk about the dangers of ponzi schemes Nigerians would never listen because of their greed and eagerness to make money...cbex stole over 10 trillion naira from Nigerians, this is worse than what people experienced with mmm and the rest..And I know for a fact that if another ponzi schemes launches people would still do it..To those here that lost money in any of the recent ponzi schemes try to learn from your mistakes and stop looking for short cuts to make money, the forum gives out vital on informations on things to invest in.

I have seen some of my classmates lose their money where they went to make money in a shortcut. Even though they told me they could invest money there and asked me to join them, I told them not to listen, but later they lost their money. Yes, Nigerians cannot control their greed, they plan to invest in various scam sites hoping to make a lot of money in a short time. If more investment schemes are launched, more people will enter to invest there, despite their experience, they are doing such foolish things. In the recent times, if they want to keep their money safe, they must stop investing in such scam sites, and they must invest in trusted places with experience. If people can stop looking for shortcuts, they will definitely not lose their money and if they invest in the right place, they can benefit.

[Orpichukwu]

No matter how much you talk about the dangers of ponzi schemes Nigerians would never listen because of their greed and eagerness to make money...cbex stole over 10 trillion naira from Nigerians, this is worse than what people experienced with mmm and the rest..And I know for a fact that if another ponzi schemes launches people would still do it..To those here that lost money in any of the recent ponzi schemes try to learn from your mistakes and stop looking for short cuts to make money, the forum gives out vital on informations on things to invest in.

Dem go gree learn from there mistake? Them no fit some of them go still see one new one rush enter with hope say that one go help them recover all the money way dem don lose finish, MMM, giversforum and other Ponzi some people they victim of them all and still any new one way come out dem no they carry ear hear about money doubling platform.. some go learn from their past mistake but you see those set of people way don equip there self with information like “as nah new platform make we benefit from am before eh crash” those set of people no fit learn.

[Tmoonz]

The problem is that people are unable to know what ponzi schemes are. If the person they know said he invested and earned money from it, that will make them think it is legit and they will want to try it. Most of those ponzi schemes promise high return but not all. That is the reason you should know what a company is using your money to do. As for me, I do not have any third party investment and that is enough to avoid all ponzi schemes. What I also know is that people will never learn.

In the aspect of you talking about how people will never learn yes I agree with you and that's very true, I have a brother that whenever I share my experiences in life that failed me with him he never always seems to listen to me rather he will put it to me that I have gotten my own experience let me allow him to get his own too, so you see most people are not even willing to learn from what happened to others rather they will prefer learning the hard way not knowing that their own can be worst but however, anyone can do whatever they like and moreso they should also be ready to accept or face the consequences of their actions, a word they said is enough for the wise.

[Lida93]

You see why ponzi schemes no go fit end for Nigeria na because of the profits to be gained after you introduce peso to am. These ponzi schemes people know sae if them promise a Nigeria some money to gain after when they introduce peso to their ponzi schemes, na Nigerians go use their hand market the thing for them wella, to give it much visibility.

If country straight inno get anyhow way people go want to risk their money getting involved into these ponzis but nah as available avenues of making money legitimately no plenty nah make people for this country the take the risk. The problem I the get with people naw nah how person go dey greedy by putting so much huge amount of money into what you're aware that it can crash anytime, but due to your greed to sweep off woofing profits it blinds their reasoning to the inevitable. Government too should key in efforts to make life better and all these nonsense will die naturally.

[SatoPrincess]

No be say the Ponzi schemes dey no dey obvious but the hunger too much for the country nai make people no dey  ask questions when them hear of investments like this. Their own be say if many people never dey do am before them join that means the ponzi no go cast quick. Them dey prepared to risk their money as long as the ponzi still dey fresh.

[Africolo]

No be say the Ponzi schemes dey no dey obvious but the hunger too much for the country nai make people no dey  ask questions when them hear of investments like this. Their own be say if many people never dey do am before them join that means the ponzi no go cast quick. Them dey prepared to risk their money as long as the ponzi still dey fresh.

Risks is necessary to stay elevated and one step ahead of others. We should be more careful in the world we lived in today, we've seen alot happening already and these are tragic moments for the victims. We should try our best to escape any scamming zone because the experience is ugly enough. Ponzi schemes becomes the order of the day because the country is in complete jeopardy. Nobody bothered to ask about the roadmap of a project because they've found a source that will make 10x of of their initial deposits.

[Uhwuchukwu53]

There are some experience that one need hard and you will advice yourself on what you really need in life op this your post and the current happening remind me on my experience o MMM I would have lost my life because I was very rich then and they do me wetin no good I advice myself that if my destiny of making it in life depends on puzi scheme is better I struggle, though life is all about taking risk but not all risk that's Worth taking. What is happening today in our society while many are always falling the same victim they fall before is not keeping or remembering their past or taking note of past experiences, secondly having the believe that they can succeed through quick to get rich where their investment can be double overnight such investor will never get ride of such victim.
Just like I read of richbased about media House publication of such scheme without proper scrutiny,  I will clearly tell you, that one Don't dive into anything in this nation without  carrying out good rearsch about the thing you desire to invest on, show how we are careless in dealing with our investment because the media is out for business and can attend to any customers that need their services, individual investing money in any thing need apply sense of details and know what his taking such risk or adventure on not just depending on one source of information as what propelled him to do so.

[DaNNy001]

How's cbex tied to cryptocurrency, last time I checked that was a ponzi scheme and had nothing to do with crypto or are there details we weren't told about it? If it was a crypto scam then it would be a global news, we expect a detailed explanation from you about this...well, people aren't new to this but they still fell for it, I remember how lots of Nigerians fell for ponzi schemes few years ago and now they are Still repeating the same thing, as long as it's done more than once then it's not considered to be a mistake but stupidity.

[Abdulzuruku01]

Wetin make me to start dis thread na because of wetin happen two weeks back or thereabout. A brother called me from Port Harcourt, im sound very excited say soon im go begin to make money from Bitcoin. I congratulate am say na better investment be dat, den im begin to tell me say na for one investment platform. Im tell me say you go first register with dem with di sum of $25 and as you de bring more perticipants you go de climb for dem upline. Di more people wey you bring and di more money you invest di more you go de get profit. I tell am pointblank say na Ponzi scheme and im de risk im money for di investment.

Di most worrisome thing be say na for radio inside PH im hear about di investment before im come attend dem seminar and register with money. Abeg make we de very careful about get rich quick investments on social media and on radio, na scams dem be. Dis na di Link of di investment platform, abeg no go registeroo, I no bother to open di link, na to show proof I take de share am here. https://go.e1ulife.com/?affid=Ladyfab82

Once the investment be like, if you introduce more participants, you will make more profits that prove it's not legitimate. Your thread reminds me of an investment called FF that crashed just last month here. The funniest part is that this people even get mind opened a branch to operate their scam investment, and people kept rushing and investing a huge amount, some even borrowed money, when I tried to tell people that I knew that these people would run, they said they knew but they wouldn't run now they still have more time, that was how they kept fooling each other.

What shocked me was the week it crashed the kind tactics they came up to rug pull people, because even those who weren't interested before became their victims because of FOMO. They destroyed their office, which didn't solve anything. Nigerians problem isn't that they are not aware of Ponzi schemes, rather, their greed and fear of missing out always cause them to lose their money. For newbies, make sure the investment is registered with the appropriate regulatory bodies before making an investment. and Instead of going through all of this stress and still being scammed, why not invest in Bitcoin so you have control over your assets?