Popular Nigerian ponzi scheme MMM has again crashed due its officials referred to as imbalance and overload in the system. As a result of this sad news, affected MMM participants have mixed reactions. While some have accepted their fate, others are yet to come to terms with reality that their ‘investment’ have all gone down the drain.
With reference to the crash,
A statement on the site of the Ponzi site dated November 3, 2017 read:
Unfortunately, we were unable to overcome the consequences of the crisis triggered by the authorities and mass media incautious actions at the beginning of this year. Despite all our efforts. The problems have been accumulating and, as a result, we have to announce a restart.
So, there is a restart:
All old Mavros (acquired before this announcement is posted) are frozen. We will gradually buy them back as the System develops.
All transactions with new Mavros (acquired after this announcement is posted) will be carried out on the usual terms with no restrictions.
Some amendments have been made to the rules:
- Mavros will now start growing at the moment the request is confirmed (not at the moment it is created, as it was previously).
- Consequently, bonuses will start growing at the moment when the main contribution is confirmed (upon which bonuses have been rewarded on).
- Mavro-50% for the first contribution will not be available.
- We launch three-month contributions of two types: 40% and 50% (see more details in WHAT IS MMM).
We’re confident that this measure (especially paragraphs 1 and 2) will significantly reduce the load on the System while also significantly improving its stability.
As a matter of fact, a restart is not the end of the world, it’s just a restart of the System and nothing more. Continue to provide help and you’ll get it all back (even if you’ve lost something now). It all starts from the beginning. It’s the most opportune time for participating.
We would also like to remind you (just for form’s sake) that everyone had been fully aware of all the risks and had read the WARNING which they had also confirmed by checking the relevant box in the process of registration.
Hoping for your understanding,
Despite several warnings by Federal and Local authorities, individuals and financial institutions in the country, Nigerians in their numbers were out to recover their initially lost funds and got into further mess – losing additional funds in the process.
According to Wikipedia, A Ponzi scheme (/ˈpɒn.zi/; also a Ponzi game) is a fraudulent investment operation where the operator generates returns for older investors through revenue paid by new investors, rather than from legitimate business activities or profit of financial trading. Many Nigerians though aware of the risk, still went ahead to participate.