Today I woke up and immediately saw that some of my WhatsApp contacts had this kind of image, suggesting they were making money with this scam platform.
Here's how this type of platform works:
It makes you watch videos and refer people, then sets a withdrawal limit and requires you to have a certain number of referrals. And then, to top it all off, it makes you invest money that you'll later lose in order to "withdraw"—but that money never arrives.
This is how this Ponzi scheme works:
The initial promise: The scammer lures in the first people by promising extraordinary returns, quickly and with "zero risk" (for example, miracle investments in cryptocurrencies, arbitrage, automated trading, or innovative businesses).
Paying the first investors: When those first people want to withdraw their money (or see their supposed earnings on a fake platform), the organizer pays them with the fresh money just contributed by new investors.
The illusion of success: Seeing that the payments are real and on time, the initial investors trust the scheme blindly, show off their earnings, and bring in family, friends, and acquaintances. This speeds up the arrival of new capital.
The inevitable collapse: The scheme is a mathematical time bomb. To sustain the payments, the network has to grow exponentially (more and more money and new people are needed).
As soon as the inflow of new investors slows down, or many people decide to withdraw their money at the same time (out of panic or distrust), the system collapses. The money disappears, and the organizers usually run off with everything they've collected.
Be careful with these kinds of apps, and be careful about investing your time and money in this kind of scam.
These kinds of platforms have a lot of red flags. The famous U91 was one such example. If you liked this post, I'd love to hear any questions you may have.
Here's how this type of platform works:
It makes you watch videos and refer people, then sets a withdrawal limit and requires you to have a certain number of referrals. And then, to top it all off, it makes you invest money that you'll later lose in order to "withdraw"—but that money never arrives.
This is how this Ponzi scheme works:
The initial promise: The scammer lures in the first people by promising extraordinary returns, quickly and with "zero risk" (for example, miracle investments in cryptocurrencies, arbitrage, automated trading, or innovative businesses).
Paying the first investors: When those first people want to withdraw their money (or see their supposed earnings on a fake platform), the organizer pays them with the fresh money just contributed by new investors.
The illusion of success: Seeing that the payments are real and on time, the initial investors trust the scheme blindly, show off their earnings, and bring in family, friends, and acquaintances. This speeds up the arrival of new capital.
The inevitable collapse: The scheme is a mathematical time bomb. To sustain the payments, the network has to grow exponentially (more and more money and new people are needed).
As soon as the inflow of new investors slows down, or many people decide to withdraw their money at the same time (out of panic or distrust), the system collapses. The money disappears, and the organizers usually run off with everything they've collected.
Be careful with these kinds of apps, and be careful about investing your time and money in this kind of scam.
These kinds of platforms have a lot of red flags. The famous U91 was one such example. If you liked this post, I'd love to hear any questions you may have.
