Topic: Avoid Ponzi/Ponzi scheme is a scam - page 2. (Read 435 times)

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

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

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

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

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

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

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

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

just avoid it when you see like this, also don't fall with fake giveaway too How to protect yourself from fake giveaways. - https://bitcointalksearch.org/topic/how-to-protect-yourself-from-fake-giveaways-5222603

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

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


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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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