Topic: Ponzi Trading Platform MTFE Collapse || $1 Billion scammed (Read 325 times)

Yeah, nowadays these Ponzi scheme Scams have become very common for us. And they specifically target people from countries like (Bangladesh, India, Pakistan, Nepal, Sri Lanka) etc (Most of the Asian countries). Because these country have the largest illiterate base, rural area. Many people doesn't have any basic knowledge about internet, smartphone or crypto. They don't know about these kind of scams or what's a MLM site. They can be easily brainwashed to invest their money in these type of scams. And sometimes without even knowing they promote these scams in order to profit some money. After loosing all their money only then they realize how foolish it was for them. But the harm is already made and there is no coming back from it.

Bangladesh recently suffered the largest scam (1 Billion) after E-Movie Plan scam. The sad part is nobody really cares, by the time the authority catches the culprit (Something they can't even gather a arrest warrant, because of corruption in the justice system), the money is already gone, laundered to the foreign country. The thing that makes me angry is that people doesn't get lessons from these scams. They are greedy. The get scammed they reinvest and again gets scammed and the process goes on. It's like an infinity loop.

After some months these MLM company will change their name, looks, plans, contacts and reappear again with more alluring offers and those who got scam will invest again. That's how it's always been. They simply don't learn.

The Similar thing happened before and look at the recent case. No one cares! Because the generation is changing and new people are entering cyberspace without knowing the previous cases. Half of the people invested in it were aware of previous scams, and half did not. There was a company in Bangladesh named "Destiny 2000 Limited", and it was founded back in 2000. They scammed Millions of dollars of these innocent poor people and put the authority of this company in jail, but no money was recovered. Other companies were named, Jubok, 2Like, Evaly, E-orange and many more. They were fooled hundreds of times.


A whole country's peoples saving in NGOs are around $4 Billion (Banks are excluded). I guess you can imagine now how big is $1 Billion for them. The alleged owner says on Facebook Live that he is not the owner. He is one of the CEO among hundreds of others. Currently, he is in Dubai, and Bangladesh cannot do anything to catch him. BTW, $500 is the minimum to get the level, but I just learned that people could have invested less, but that makes less money.

I understand the feelings. I might blame them for being stupid. But living in the 3rd world country is not easy—unemployment everywhere, inflation rocketing high, and they don't know what to do with their tiny savings. People are looking for jobs in the middle east and other countries, and it's common here to sell goods and even land to get a job.

So some wanted to be smarter than scammers, and others just hoped that the scheme would last as long as possible and that they would manage to make a profit before everything collapsed. Unfortunately, the winner in that game has already been decided in advance, and maybe this was a strong enough lesson for many, and they will never think of repeating something similar.


Now that whole story sounds even more incredible to me, because I thought it was a much smaller amount, but $500 is just a little less than the minimum wage in my country, so I don't understand how people can be so naive to sell something that literally means life to them to gamble. I don't know if there is any chance that someone will catch this scammer and that at least part of the money will be returned to the victims?

This thing alone is of no surprise, my previous reaction of anger was to those who pulled others into this, not that I don't understand the ones that think they can game the scam.

We had a period of Ponzi schemes right here on this forum, just go here:
https://bitcointalk.org/index.php?board=207.3880
and check the titles:


Bruh, this is beyond anything I can describe in words.
To be completely honest I wish I hadn't even read it, I have now a hundred images in my mind I will probably never be able to erase.

Hearing of high profit return, usually one can act impulsively. In addition, this kind of platform won't provide information about business risks related to their scheme, only attaching risks that aren't too relevant and even then written somewhere hidden.
One of the dark contents of AI that can be introduced in one way, one of which is as a money-making machine in poor countries.

Most of them knew this platform would scam them. But they wanted to be a smart ass. If you ask them why did you invest there even though you know they will scam you? The answer they give you is; we thought they would run for a few more months. We were planning to get the profit and exit before they exited. LOL. Can you imagine how dumb they are? Another reason is MLM. They get commissions from each people they refer. Half of them were scammed before, and half of them were scammed for the first time. They will invest again if the new platform offers such profit. Idiots!

Nah, bro. The minimum package there was $500 to get a level. I believe you know how big is $500 for a person who lives in 3rd world country. People sold their goods, sold their land, sold their cows, goats, and chickens to invest. Some of them invested their life savings. Some take loans from banks and NGOs. Can you imagine how hard they were fucked?

It just fascinates me that such things are constantly repeated as if no one learns anything from their mistakes, and people usually become very cautious when someone scams them, especially if it involves a significant sum of money. Could it be that a lot of people invest relatively small amounts individually, so even though the total amount is huge, for the individual it is still not something that will prevent him from repeating the same thing in the future?

However, don't think that such things happen only in your country, there are such things all over the world, only a lot of it does not get media attention or remains within the framework of a certain country. Recently, an "expert" for crypto investments in my country disappeared with 70 million EUR, and now he is hiding in some hole and no one can or wants to find him.

different tactic every day. By making this kind of post, those scam victims will want to do anything possible in order to get their lost money back, and such a desperate set of people are the target of these scammers, as they will not want to verify any of the information and might just rush and do whatever they are asked to do. and for the scammer to make a public announcement of 15% payable tax before reclaiming their funds is just a clear strategy of scamming the scammer with another 15% added to the amount they have initially lost. I just hope they learn; if not, we will still hear another story of fresh victims added to the previously scammed, and the scam amount recorded will be topped up.

Sigh. It doesn't matter how many of these scams collapse, more of them appear and get funded exorbitantly. I wonder very much how many people know about the risk but participate anyway, versus those who genuinely think that the platform will make them rich?  Every time there is a scam like this, we never learn more about the victims and why they fell for the scam. Only this will help to find and stop the problem, or create an adversary for the scammers. In my opinion though, I think that majority of the business are knowing promoters and users, and that the ones who are scammed just become those promoters and users when their promoter tells them about a new one.

Indeed, The owner of MTFE was revealed by several daily news portals in Bangladesh. The owner is Bangladeshi himself. But he lived in Dubai and operated his business from there. Bangladeshi Newspaper Kalbela online reported that the owner of MTFE name is Masud Al Islam, and he is from Comilla, Bangladesh. This scammer successfully scams $1 billion dollars using MTFE.

This news portal also reported that more than four hundred CEO of MTFE are under observation of CID. They collecting the cyber footprint of these CEOs who actually operated this business locally.

FYI, People from this country were fooled multiple times, and Pyramid schemes work great there. What a fucking nation we are.

People all over the world have similar dreams, but it is more than obvious that in some parts of the world you can deceive people much easier than in others. It is not only a question of the naivety of ordinary people, but also the obvious ineffectiveness of those who, from the position of the authorities, should protect them from becoming victims of such scams.

But on the other hand, even when governments or banks in some way limit or warn about caution when investing in such things, people mostly experience it as something negative. If we start from the fact that everyone is responsible for what they do with their money, then it is a logical conclusion that everyone should take responsibility for everything that results from such actions.

The question arises, will all these people learn something from this case, or will they be naive again when they see a new "great opportunity"?

I remember almost a year ago, an Indian carried out the same fraud, and before that some of them were arrested on charges of fraud and imprisoned. Therefore, if the number of people in Bangladesh is large, it is better to make it a public opinion issue, and then some lawyers may file cases and try to imprison these scammers.

https://www.thehindu.com/news/international/three-indians-get-517-year-jail-in-uae-for-multi-million-dollar-fraud/article23505051.ece

What makes me angry is that those who fall victim to this scam are the ones who consider $500 an amount that could change his life, yet he pays it in the hope of getting rich quickly.

I wonder which government will take report of a ponzi runner serious and only blinded and gullible victims of this scam will fall for this further, i wonder how people think actually believing such a glaring scam scheme like MTFE, and the funny thing is that this company has a 3-star review on Trustpilot, which go further to show how misleading and untrustworthy online reviews platforms can be, and at this point we all need to believe in our own research and follow our instincts remain skeptical about any investment that promised fixed and high returns.


Checking all MTFE modes of operations you will discover that there are a lot of red lights for the victims to have noticed what was happening with their so-called AI trading was an attempt to deceive victims into investing in the Ponzi the name of trading with the capital,

This twitter account is trying again to scam investors scammed by MTFE! There are some scammers who come up with different tactics to scam investors again which we have seen in the crypto market during the Luna and Ftx incident. So those who have been scammed by MTFE should trust this scammer and not get scammed again.

Twitter : https://twitter.com/mtfe_io

oh, This is something very bad to hear. almost week ago, my brother introduce me this project to research because he wanted to invest in it. When i checked their package and profit criteria, I remembered all those Ponzi projects scammed in past. My cousin was also ready to buy 500$ package and Thanks God that they haven't invested in thia ponzi project.

I think Pakistan and Bangladesh are the main countries who are scammed. Unfortunately Pakistani CEO of MTFE is one kilometer away from our house. His monthly salary was 1000$ and he has 800 referel. According to his, he was earning daily 8000$. Many users who even don't know how to deposit and withdraw invested on behalf of this CEO and he was making withdraw and deposit for people.

Somedays ago when withdraw stopped, my cousin ask CEO about withdraw, he told that he recieved hos withdraw and others will also recieved but after two days it clear that project ran away. Now he has to give all users fund because he announced that anyone use his referel code, he will responsible for capital investment. I think this will be easy for him because most of the user withdrawn capital but problem is that when you recieved withdraw, Greed will force you to invest more. Let's see what happened next but these greedy people will never recover and will invest in another ponzi schemes without any research.

And in a sense they, the scammers, really take advantage of the so called AI revolution.

However, it's very sad that there are victims even at this age that this is very clear a ponzi scheme in the beginning and yet people fall for it specially in Bangladesh. And this is another expensive lessons not just for those who fell victim to it, but for those who think that they can make easy profit with those enticing too good to be true offer. And so it's going to be cyclical and for sure as of this very moment, this criminals are thinking and creating the same blue print to scam crypto or non crypto individual and put up another Ponzi scheme model.

They will never learn. In my country, there was Evaly which scammed a lot of people. Their business model was different though. They were selling products at huge discounts, almost at half price at the beginning. But the condition was, you will get the product after 3/4 months, and sometimes, no product but a refund. They have run the project for a long until govt found a lot of illegal activities and complain against them. The project was paused as expected and govt couldn't recover the money from the owner.
But these stupid people again invested in similar new sites in the hope of getting a product at a discount. Most of them were scammed. That's why I said they will never learn.

Most and Only are two different things. When i said most, it doesn't mean all of the countries. Of course, even in place and as large as US, crimes such as this is not impossible, obviously.

Not true, Herbalife is making billions in USA and the federal government can't do a thing about them MLM and Ponzi schemes grow where there are people that you can recruit into it, it doesn't matter if it's from a third-world country or not, scummy business like these trading platform will sprout and thrive no matter what.

How they pull off these scheme of trading as if it's really an AI is something, they really planned this from the start for sure, that kind of money won't be stolen by measly strategies and in a way you've got to admire their gall to be able to do some heinous shit like this, hopefully the people behind the MTFE identified because justice needs to prevail in this situation.

This is an interesting part. How do they know that? Well, because some people have knowledge about it. I told my friends that this platform would collapse with all their money. I believe everybody hears that from their friends. Nobody would say to me about their investment if they did not want to invite me. One of my friends wanted me to invest, and that's why she discussed it with me. She tried hard to convince me because she wanted some commission. That's how it's spread.

The problem is the majority of them did not know that those platforms may scam while others were expecting them not to collapse too early. They thought they are smart enough and they will withdraw their funds before it collapse.