Why is this still happening in Nigeria in 2026?

[Sunshine1525]

(Snip)

That is not entirely true ,both young adult falls victims too because of greed,once they hear invest in this and get this in few days or hours they quickly jump into the offer,so I can't say it's only elderly once that are mostly likely to fall for it ,but all the same more awareness should be created, because it marvels me to see the rate at which people falls for this scammers , whenever they create such things ,many don't think twice they invest immediately they hear the amount to get back in few days,which is purely greed that has misled many into such troubles.

I'm aware that greedy people are one of the most likely to fall for a scam but they still trap their victim through ignorance which is why i specifically mentioned the elderly cause it's very easy to fool many of them since most of them in our country are not very smart concerning things in the internet or know how to "detect scam like i said before now".

Also, the OP talked about the elderly and that's why my point was based on them, although you're right cause greedy people always seize the opportunity to get something they want more of without weighing the risk.

[Somto9Light]

I know it’s a Ponzi scheme, many people would recognize it at first glance but the question here is whether the awareness about cryptocurrencies like Bitcoin is still very small amongst average slightly elderly people and many people still haven’t really understand what it is? Because this is 2026 and with how adoption is said to have increased in Africa and Nigeria in particular, I don’t expect to be seeing this type of obvious scam associated directly with bitcoin.

You are making it seems as if nobody is supposed to be scammed again in 2026, do you think it's everyone that has the awareness and exposure that you have? And again this scam attempt happened to people you call elderly, which should be people within the age of 50 years and above, am just making assumptions based on the elderly word you used. How do you expect elderly people to be conversant with scam methods of scammers? These are literally people that will even show their children such information for them to confirm and whoever that tried that scam attempt was just trying his luck because there was no way that they wouldn't have called the real owner of the WhatsApp number to confirm. You are the one that is calling it obvious scam, some people can still be ignorant of it considering the medium with which the scam was attempted.

[Btcdeybodi]

It's very sad that our elderly parents are the ones that are being targeted this days, because they knows that they are not that informed technologically. Another thing that may save them even though they may not be that informed is if they are not greedy, because those that are greedy will easily fall for this cheap tricks, since they will believe that their money will be doubled in the next hour or two.

 These are why I will always say that ignorance is more costly, because no matter how the tricks these scammers uses, if you are well informed on how they operate, it's near impossible to fall for any of their tricks.

Whosoever that planned that scam made a wrong target because elderly people cannot even invest on something without asking too many questions. It is even easier for a young guy to fall for scam than the elderly people in the society because whatever they don't have idea of they will not invest in it except you are able to convince them enough.

This is not even about ignorance, you can be informed and still fall for a scam because a lot of scammers has upgraded in their pattern of scamming and the only way you can escape them is when you don't even give them the opportunity to hear or read what they sent to you or you are the kind of person that don't like any investment that promises to double your money.

[Jaycoinz]

That's a ponzi scheme i don't know why Nigerians hasn't learn anything yet, Bitcoin that is volatile that some will come and tell that you should invest with 50k and you get 150k or there about within some few days and you believe it ? No body can predict what will happen in Bitcoin investment what people only do is to speculate about the price of Bitcoin, Bitcoin is a long-term investment; it's not some kind of investment scam investment that you will invest today and make two times what you invested in just a short time. I just wish we could learn to avoid falling into the hands of these scammers.

The nature and condition of the country sef don make so many people think say any and every opportunity na big one wey dem fit cash out big time, and this na one of the major reasons why people actually get scammed. There are so many Nigerians that are fucking desperate to make money due to the conditions of the country and also greed too, and when they come across all these opportunities, they feel it's their escape out of the hardship and in the end they end up getting hurt and scammed of their little money.

[Hypnotizer]

_snip

You are making it seems as if nobody is supposed to be scammed again in 2026, do you think it's everyone that has the awareness and exposure that you have?

Atleast even if there’s a scam attempt using Bitcoin name, then is shouldn’t be this obvious and stupid, that’s what I was saying. With the level of adoption and awareness Bitcoin and other cryptocurrencies have had amongst Nigerians, it baffles me to see scams like these still in existence.

And again this scam attempt happened to people you call elderly, which should be people within the age of 50 years and above, am just making assumptions based on the elderly word you used. How do you expect elderly people to be conversant with scam methods of scammers? These are literally people that will even show their children such information for them to confirm and whoever that tried that scam attempt was just trying his luck because there was no way that they wouldn't have called the real owner of the WhatsApp number to confirm. You are the one that is calling it obvious scam, some people can still be ignorant of it considering the medium with which the scam was attempted.

I don’t know whether the attempt was strictly intended and targeting only the Elderly, as you can read in the OP... it was sent to a workplace group chat meaning young people are also in the group.

And if this is not consider an obvious scam with the level of adoption and awareness in Nigeria, then that shows that many people actually lack awareness about what bitcoin really is and how it works. Nigeria is considering one of the most aware nations globally about cryptocurrency like bitcoin, so does that mean that metrics is wrong?

[PhilosopherKing]

Shey make I shock you? Na even those young person dey fall for this thing pass. I cannot count how many time my little cousins have sent this to me. Plenty persons know that this thing is a scam something, but they will still want to invest because them don't have any work they are doing. T-pain regime don show them better shege, so they gats still do am.

How delusional can some dudes be, there is even some that will say you should share the link to at least 5 of you contact for instant payout, all na lies. What do they take us for huh? I can't figure out why in the hell person even will be believing all this, the thing still dey shock me walahi. This scam na some peesom way of making daily bread and whether person like it or not, we will keep seeing things like this, person just gat dey smart that's all, so person no go use your do cash out, Ire o.

[promise444c5]

Young peeps barely understand what Bitcoin is all about, talk more of elderly people.. If you even try to explain to them , all they will ask you is that, can it give them money  and how much in a certain period .

All they believe is that every coin is Bitcoin .. so it always so hard to really explain or make them understand when they themselves aren’t really interested to learn it.. unless the person is close to you that you can always try to correct and explain things to them every time they engage in it.

Don’t be deceived though, Nigerians are smart and they do know when something is a ponzi scheme [just as you’ve mentioned]but they always try to gamble it.

Both side are just being smart but one side has a guaranteed profit 

[Pablo-wood]

The nature and condition of the country sef don make so many people think say any and every opportunity na big one wey dem fit cash out big time, and this na one of the major reasons why people actually get scammed. There are so many Nigerians that are fucking desperate to make money due to the conditions of the country and also greed too, and when they come across all these opportunities, they feel it's their escape out of the hardship and in the end they end up getting hurt and scammed of their little money.

Desperation has rightly said is the reason Nigerians will never learn from past experiences and many of them keep falling victim year after year. The early Nigerians come to understand there is no short cut to making money the better else the will keep becoming victims to ponzi schemes that continually render them frustrated after they have lost a huge fortune. I don't hardship as an excuse because someone who is facing hardship shouldn't even think of making quick money from such direction. I think the problem might be ignorance and lack of proper digital literacy.

[Cleanshit]

Young peeps barely understand what Bitcoin is all about, talk more of elderly people.. If you even try to explain to them , all they will ask you is that, can it give them money  and how much in a certain period .

All they believe is that every coin is Bitcoin .. so it always so hard to really explain or make them understand when they themselves aren’t really interested to learn it.. unless the person is close to you that you can always try to correct and explain things to them every time they engage in it.

Don’t be deceived though, Nigerians are smart and they do know when something is a ponzi scheme [just as you’ve mentioned]but they always try to gamble it.

Both side are just being smart but one side has a guaranteed profit 

Having not to understand bitcoin is not the only biggest problem, scammers are now pro in their work in the sense that Dey learn how to use Bitcoin name to make their works looks legit. Even person wea don sabi Bitcoin small if go Dey tempted for their promise for profit. That why the learning shouldn’t be on Bitcoin alone but also teaching or learning how to identify fake investment strategies

[Felicity_Tide]

but the question here is whether the awareness about cryptocurrencies like Bitcoin is still very small amongst average slightly elderly people and many people still haven’t really understand what it is? Because this is 2026 and with how adoption is said to have increased in Africa and Nigeria in particular, I don’t expect to be seeing this type of obvious scam associated directly with bitcoin.

Of course, scams like this are very common, and people still fall for them.
A lot of people have actually heard about Bitcoin from one place or another, but they clearly don't understand how it works, and they're also being targeted by these scammers. Personally, I would be disappointed if I ever come across a scam attempt like this. It even went as far as stating that those who are jobless can earn an income from it, but they're demanding a fee.

How the hell do you earn an income with money when you clearly don't even have a job that gives you money?. Some scammers are just too unprofessional, and I really feel sorry for people who fall for them. Lack of knowledge and awareness is actually a big problem in our society, and I feel sorry for those who lack either of them.

[Youngrebel]

Well, ponzi schemes can never stop in Nigeria, people will always fall for it even if it is a million times because Nigerians are always greedy and looking for an opportunity to get rich quick. They say Bitcoin is a scam because they use the Bitcoin they buy to deposit into ponzi schemes all because they are trying to make money overnight.

People can always take advantage of the desperation of Nigerians because of the present State of the country. Being on the forum has saved a lot of beginners from falling into the hands of these scammers, bitcointalk has been a guide to a lot of us when we started our journey that's why we didn't fall for any of these.

Bitcoin investment is strictly for those that can be patient enough to wait for their Investment to increase and not those that want to be rich overnight.

[Agbamoni]

This scam became very common this year, though it is an old pattern of scams. Regardless, many people are still victims of this type of scam, especially the elderly ones eager to double their money.

In March, the father of my friend texted me with a picture of my friend who had an accident. I was cared because the text came directly from my friend's WhatsApp. He was requesting help of 70k for urgent surgery. Due to my knowledge of AI pictures and videos, I was able to recognize that they were AI-generated, although the pic and video were brilliantly made. Quickly, I called on a video call, but the scammers refused to pick up. That's when I was sure they were scammers.

[Dzwaafu11]

Many ways to this, and honestly knowledge is very important in everytbing one is going to do, there is no way someone will succeed in doing sometbing you don't have knowldge on, even though there is luck its doesn't come any time. And things like this happening in different ways.

We need to be knowledgeable and be updated, because the scammers always change method, when they see that victims get to know their strategy they change plan, that is why been update is very important in the space, we need to wake-up.