Tag: Ponzi Scheme

Dascoin exposed as a Ponzi scheme
Golibu

Dascoin exposed as a Ponzi scheme

As various government get pissed off by fraudulent ICOs, Dascoin, another pseudo-digital currency might have been exposed as a mere Ponzi scheme. In a chat between a Dascoin affiliate and digital currency expert on Radar, the scheme could not defend itself on various claims made by the affiliates. The affiliate […]

What is Twinkas Ponzi scheme up to?
Golibu

What is Twinkas Ponzi scheme up to?

During the Ponzi scheme bubble, Twinkas Ponzi scheme was one of the high-flying players that ended up running away with billions of Naira from its victims. The owners of the scheme have not till today bothered to pay back victims and many investors who lost fortunes to the scheme. Instead, […]

China releases timetable to crackdown on Ponzi schemes
Scams

China releases timetable to crackdown on Ponzi schemes

China might join the league of countries clamping down hard on Ponzi schemes and other dodgy investment companies luring unsuspecting members of the public to losing their funds. China’s regulatory authority said it will further investigate Ponzi scheme activities across the country. The government said in a statement that: “Recently, […]

Italy’s Competition Authority fines OneCoin EUR2.5 Million
Scams

Italy’s Competition Authority fines OneCoin EUR2.5 Million

OneCoin, the infamous pseudo-digital currency has just been fined another EUR2.5 million by Italy’s Competition Authority for carrying out deceptive promotional campaigns in the country. This is yet another hammer hitting OneCoin, a Ponzi scheme disguised as a cryptocurrency. OneCoin is owned by OneLife Network, a multi-level marketing organisation that […]

IGOFX, the world’s largest MLM Ponzi scheme crashes
Scams

IGOFX, the world’s largest MLM Ponzi scheme crashes

The chicken must have come home to roost for more 400,000 Chinese investors who have lost a fortune to IGOFX, a Forex multilevel Ponzi scheme that has just collapsed. According to Chinese authorities, both Chinese and Malaysian investors must have lost about RMB30 billion, an approximately USD4.4 billion to the […]

Bonitaz, Twinkas comeback Ponzi scheme review
Scams

Bonitaz, Twinkas comeback Ponzi scheme review

Folks behind Twinkas have allegedly launched Bonitaz, another usual high return Ponzi scheme. They will be perpetrating this ‘travesty’ after bailing with billions of Naira (NGN) of investors money and leaving behind a huge pile of RoI liabilities for their victims (actually no one knows how much investors lost to […]