Obvious signs of Ponzi schemes.

[Fiasem20]

E get one popular statement wey don dey trend for our country,our country people go talk say if you no figure out the signs na wonders you go see.Normally the common sign wey dey obvious about ponzi na the unimaginable returns wey dem dey promise their followers but to add up no be only this one be the obvious sign,another sign be say dem too dey pressure people to participate for this their project dem go dey sweet mouth their project say if people wey no wan invest dem go miss out the opportunity,better project no dey hide sometimes dem dey even pay people to promote their project for them.Then another sign be say ponzi scheme no dey give their followers better detailed information of wetin the investment be,their white paper sef na copy and paste work.

[Tmoonz]

Greed is an under statement, some people are too lazy and all what they want is an easy ride to riches without stress, so even when they see all the signs they choose to ignore as they are overly carried away and see it as the opportunity that are looking for, funny enough many they don't just put little money, they go all in and sometimes they borrow so they could have the highest profit than others, no means of making good money easy, so any means that proves itself to be easy is already a bad sign that should not be ignored regardless of how true it looks.

Didn't you see how many Nigerians rushed to buy Dangote IPO, that's same way they rush ponzi schemes especially when they hear that a prominent figure is also investing. I was hearing someone saying that Otedola bought a huge number of the Dangote IPO and that's his motivation that if someone like Otedola can invest that they too can invest but they didn't understand these are rich men doings so an ordinary person is not supposed to use them as a motivation because they are people that has been making investments for years and have encountered many losses before they finally won. When they're investing they calculate their risks to kmow if the risk is minimal.

A friend of mine oitside this forum said that "their are many opportunists in Nigeria and it's because many people are so poor that they're ready to seize the slightest opportunity to make wealth even though the risk is big, he went to to say that the most people who took part in that Dangote's IPO are poor" which justifies everything he said. If you think about it, he's right to an extent cause so many schemes have come and gone and they successfully drained people, mostly the poor. Rich people don't invest in schemes the bad ones launch schemes to drain the poor while legit ones invest in proven investments like Bitcoin, Gold etc.

The country is hitting it hard on the poor and the government made it to be so in other for them to be respected by the poor people, they made the country economy to be difficult for the poor so for this the poor masses always found anything that promise quick profits as an opportunity to get out from poverty but unknowingly to them that they are putting them self into more trouble of losing out the little they have to scammers who clam to be a real investors, the signs are obvious that people are supposed to noticed that it's another ponzi scheme because these things almost occur every year, i believe by next year another different one will come up and people will still fall for their tricks.

What surprises me most is that even when the signs are very obvious, they will be like let them try their luck. Being poor should be enough reason to be very conscious of anything you doing with all eyes open, being poor shouldn't blind or affect mindset, the most painful part is that there are those I know that has made this same mistake over and over again and they kept losing the little money they have and something they even borrowed and become indebted, poor people should stay away from anything promising quick profits, please let's leave the bad government out of this because there could have been other things those money put in Ponzi scheme can be used for that can yield profit even if it will take time.

[FrankoKool]

E get one popular statement wey don dey trend for our country,our country people go talk say if you no figure out the signs na wonders you go see.Normally the common sign wey dey obvious about ponzi na the unimaginable returns wey dem dey promise their followers but to add up no be only this one be the obvious sign,another sign be say dem too dey pressure people to participate for this their project dem go dey sweet mouth their project say if people wey no wan invest dem go miss out the opportunity,better project no dey hide sometimes dem dey even pay people to promote their project for them.Then another sign be say ponzi scheme no dey give their followers better detailed information of wetin the investment be,their white paper sef na copy and paste work.

NRC show people shaga recently, i remember when their agents came to me asking me to invest so i asked them one question what are they onto, nobody was able to answer me. So i asked them,are you people in to Forex no answer,is it a crypto platform? They said no,so i said I'm not investing because it's totally Ponzi, then i told them this platform will soon close,they said do i know how long it has been in Nigeria, just after few weeks that platform crashed.
Our people always see signs and they know it's Ponzi but they'll still put their money because they want big interest.

[Perfect-World]

another sign be say dem too dey pressure people to participate for this their project dem go dey sweet mouth their project say if people wey no wan invest dem go miss out the opportunity,better project no dey hide sometimes dem dey even pay people to promote their project for them.

Truly, Ponzi schemes have been a real problem to the society and victims. The fact that you put in your hard earned money and expecting something in return, and after your expansions, they disappear with both your profits and capital is just so painful.

The part you outlined is one major reason to show that it's not reliable and should not be tried. Imagine a situation where you are to put in your money, make your gains, and yet, they begin to pressure or persuade you to invest or buy there shares. It's a clear sign that it isn't real. For me, anything that pressures me to be part of it, and it involves money, then it's a total no for me.

People should stop going out for fats money. It's a bait and can drain you financially. People should stay away from greed and look for legit means to make money, not a platform that promises you ×3-5 of your capital within a week or month.

[Nasdel4]

What are they selling?

If they say they want people to invest in agric and it is online, trading (like CBEX), in a way that they are not licensed, you should not believe.

Although about trading, I can not believe them even if they are licensed.

I think what really helped me is that I prefer to invest by myself and not believe in another party's investment. This is the best way to avoid these scammers.

Yes, high yield return is part of the red flag.

Exactly what I usually think... What are they selling?
Any investment brought to me, I do analyse it properly. If you tell me I'll get massive returns in a short period I'll definitely know it's a scam and even if it is advertised by a popular celebrity or public figure, it's not guaranteed. I've seen several advertisment from public figures that ended up to be scams. They use their popularity to influence sales.

[Pearl_20]

I remember once when my older sister fell for those Ponzi schemers, at first they told her to bring small money and she won that very first time so the excitement was high she was told to bring bigger money and that's how they ran away, at first they will start paying you small small so you start trusting them when they ask you to bring bigger money and once you fall for thats the end. I also know that most of them will tell you that there's no risk involved as someone who have fallen victim of them twice, another thing is that they will tell you to bring one person to double your money the more people you bring, the more your money grows and you cash out fast.

There's this pressure for you to invest, they keep calling, texting so you can put in money, there businesses isn't clear at all, most of them don't have offices and the few that does are also fake, their lifestyle is too loud, I'm not saying that people who also life expensive lifestyles are fake people or Ponzi schemers, some of them live their lives with the money they cashed out from other people and another thing is that how they make these money isn't clear, you don't even seem to understand it.

[Jerrycrypto2024]

Greed is the primary course of victims of this very ponzi scheme, no where on earth that investment yeild hundred percent profit gain within a short time frame of hour the surprising thing that people don't reason is the aspect their interest rate or gain increase according to referral the investor bring into the investment, the system is just design to pay according to who joined newly as their payment is used to settle those who are early in the system. Ponzi scheme can never deviate from convincing investor or customer higher return that duplicates their investment seen such information should be an eye opening that it's ponzi because real investment can never be quick to get rich but gradual means.

[Jasmyne]

Greed is the primary course of victims of this very ponzi scheme, no where on earth that investment yeild hundred percent profit gain within a short time frame of hour the surprising thing that people don't reason is the aspect their interest rate or gain increase according to referral the investor bring into the investment, the system is just design to pay according to who joined newly as their payment is used to settle those who are early in the system. Ponzi scheme can never deviate from convincing investor or customer higher return that duplicates their investment seen such information should be an eye opening that it's ponzi because real investment can never be quick to get rich but gradual means.

You are totally correct,the main reason why people are moved in to doing ponzi scheme is because of their greed. The funny thing about ponzi scheme is that the person doing it must have heard of how the previous ponzi scheme ended and how people lost their money but instead of learning from that the greed will not let them be, that sharp sharp profit making is attracts people to rush they give them more task to lure people into joining them by offering them more bonuses if they have people as their downliners, not knowing that they are paying them from the money of other new comers they will keep investing and cashing out until the scammers meet up their targets the moment they have gotten good number of subscribers and seen the balance in their wallet they will crash the site and run away with everything.

People should invest in a good business and stop expecting to make fast money they didn't work for, greed is a killer people should learn and stop enriching scammers.

[Sally9256]

Exactly what I usually think... What are they selling?
Any investment brought to me, I do analyse it properly. If you tell me I'll get massive returns in a short period I'll definitely know it's a scam and even if it is advertised by a popular celebrity or public figure, it's not guaranteed. I've seen several advertisment from public figures that ended up to be scams. They use their popularity to influence sales.

That right, any kind of investment assuring us that when invested in the projects then there will be a guarantee of profits either in a short term or long term then such investment is likely to be said to be scam and Ponzi scheme. Investment doesn’t always offers 100% guarantee when it comes to the returns just like our top investment bitcoin, even with the long term holding of it that doesn’t still guarantee profits at the end so we should be wary of this things as a for the new investors and not get to fall for those traps of Ponzi schemes.

This public figures shouldn’t deceives us by their influence and that why we shouldn’t mess with our research on any projects no matter it’s trust.

[HajiBagi]

Some other obvious signs of the Ponzi schemes system that makes people fall and get into their traps are :
1.they are money minded the more you invest the more profit you make
2.their promises are very attractive
3.they don't have an authorized body

I agree with what you mentioned, their promise are very attractive, which is why most people fall in their trap, they will promise you that when you invest $20 they can make it $100 in a week, and if you invest with $100 you with make a profit of $300 or $400 in a week, and we know how some people are desperate to make quick money or profit, they will not think about if they are real or not, because their goal is to make a good profit.

I always blame some people that fall into their traps because we all know that in this world we are living right now, there is no way of making quick profit, there is no investment that you will invest in and make a profit in just a week, even traders don’t make a quick profit because they also lose money when trading, so for a person to believe that their is a way of making quick profits, that means the person know what os happening online.

[WhoYouCantKill]

What surprises me most is that even when the signs are very obvious, they will be like let them try their luck. Being poor should be enough reason to be very conscious of anything you doing with all eyes open, being poor shouldn't blind or affect mindset, the most painful part is that there are those I know that has made this same mistake over and over again and they kept losing the little money they have and something they even borrowed and become indebted, poor people should stay away from anything promising quick profits, please let's leave the bad government out of this because there could have been other things those money put in Ponzi scheme can be used for that can yield profit even if it will take time.

The most annoying part is that, even with several repeated losses, people will still not stop themselves from trying again, especially when they maintain the mindset that the next ponzi scheme would be different. For someone who’s already struggling or having money problems, taking loans just to chase a quick profit could potentially turn into a bad decision into a long term burden. Sometimes the best financial decision is to protect the little you have rather than chasing more profits or risking it for a return that sounds too good to be true.

[Emjay24]

What are they selling?

If they say they want people to invest in agric and it is online, trading (like CBEX), in a way that they are not licensed, you should not believe.

Although about trading, I can not believe them even if they are licensed.

I think what really helped me is that I prefer to invest by myself and not believe in another party's investment. This is the best way to avoid these scammers.

Yes, high yield return is part of the red flag.

Exactly what I usually think... What are they selling?
Any investment brought to me, I do analyse it properly. If you tell me I'll get massive returns in a short period I'll definitely know it's a scam and even if it is advertised by a popular celebrity or public figure, it's not guaranteed. I've seen several advertisment from public figures that ended up to be scams. They use their popularity to influence sales.

Scammers have upgraded from promising high yield, they now come with believable ROI so that they don't look very suspicious. It is still on us the users to verify every claim they bring, including the operational licenses they may present in order to deceive unsuspecting people. When CBEX came, they positioned themselves as financial experts and put up fake licenses which was not even downloadable on their pages. When I tried to access their Licenses and couldn't have a hold on them, not to mention verifying them, I took my heels because I cannot trust what I couldn't verify and it still turned out to be a scam in the end.

[Charles-Tim]

Scammers have upgraded from promising high yield, they now come with believable ROI so that they don't look very suspicious. It is still on us the users to verify every claim they bring, including the operational licenses they may present in order to deceive unsuspecting people. When CBEX came, they positioned themselves as financial experts and put up fake licenses which was not even downloadable on their pages. When I tried to access their Licenses and couldn't have a hold on them, not to mention verifying them, I took my heels because I cannot trust what I couldn't verify and it still turned out to be a scam in the end.

The CBEX that you are referring to was promising 100% return in 30 days. Or was it not up to that?

30 days 100% ROI is a very big red flag, but Nigerians continue to invest in the scam business until over 1.2 trillion naira was taken from Nigerians. Most of the scam that I know are still promising huge return as profit so that the victim can be willing to invest as fast as possible. Although, there are some that can promise low ROI.

[MisFoxie]

.....
I always blame some people that fall into their traps because we all know that in this world we are living right now, there is no way of making quick profit, there is no investment that you will invest in and make a profit in just a week, even traders don’t make a quick profit because they also lose money when trading, so for a person to believe that their is a way of making quick profits, that means the person know what os happening online.

Now people do not fall into the hands of scammers as easily as before just by seeing promises of "overnight wealth." Because most people have already developed a kind of barrier against it. Now they have focused much more intensely on social engineering, fomo and affinitive fraud so that they can weaken people's defense.

Now scam projects are made even more advanced where people are convinced that they are a type of company that if you invest in it they uses that investment to earn through AI bot trading and Defi liquidity staking to makes profit for its users. When a user hears these things they easily start trusting them and ultimately scammers can succeed.

[Fiasem20]

.....
I always blame some people that fall into their traps because we all know that in this world we are living right now, there is no way of making quick profit, there is no investment that you will invest in and make a profit in just a week, even traders don’t make a quick profit because they also lose money when trading, so for a person to believe that their is a way of making quick profits, that means the person know what os happening online.

Now scam projects are made even more advanced where people are convinced that they are a type of company that if you invest in it they uses that investment to earn through AI bot trading and Defi liquidity staking to makes profit for its users. When a user hears these things they easily start trusting them and ultimately scammers can succeed.

Exactly,scam tactics have become so obvious that these scammers have devised new strategies to lure victims.Most times it’s not about being too smart even the smart ones most times fall victim to scam projects,that’s why the topic of being technically knowledgeable and using your random knowledge in regard to detecting scam tactics has been raised and obviously most people would say having the technical knowledge is literally the most important but in reality having common sense is also quite important too so the two are needed.For instance,it only takes an individual with common sense to detect a project that offers unimaginable returns as a scam project,if you want to use your technical knowledge you might end up not getting the right answer whether the project is legit or not.