MMM South African victims reveal their Ponzi scheme strategy

The Bitcoin experiment of the MMM global financial mutual aid platform is coming to an end, and users are discussing how the platform works. As you can imagine, some people have gained some benefits from this platform, while others have suffered heavy losses or even lost everything. Especially in South Africa, people are even more mixed.

South Africa's response to MMM collapse

In this age of social media and global communications, opinion spreads much more easily and quickly than it did decades ago. The collapse of MMM Global Bitcoin Republic has brought a lot of disappointment and dissatisfaction to the South African people, many of whom invested in this Ponzi scheme.

One Twitter user mentioned that his wife invested 15,000 South African rand in MMM in 2013 and never got it back. During this time, the MLM program was offering a Mega equity incentive model, and then changed to a Mavro model where users had to complete daily tasks on social media - telling the world about MMM and how it changed their lives.

Most people now understand why MMM has been able to operate for so long, as many people have found that their accounts have been able to recover their funds, and some have even made a small profit. This is one of the dangerous factors of Ponzi schemes: as long as new funds flow in, early investors can get returns.

It is obvious that South Africa is one of the breeding grounds for MMM as a large number of South Africans have invested in the project.

Some people always get returns, while others always struggle to find returns. MMM has been a shaky investment from the start, and some users have tried to convince others to invest by showing them the returns they have earned. This is not uncommon, as OneCoin owners have also used similar tactics to lure in unsuspecting investors.

Since MMM closed down, the National Consumer Commission is investigating it. MMM is just one of nine companies being investigated, and there are reports that these companies are all pyramid schemes. Not long ago, the investigation into them was taken over by the South African Police Service's Specialized Commercial Crime Unit.

Original: http://www.newsbtc.com
By JP Buntinx
Compiled by: Kyle
Source (translation): Babbitt Information (http://www.8btc.com/mmm-global-victims-unveil-ponzi-scheme-tactics)