“People don’t know that it’s Ponzi scheme”: Man names platform similar to Cbex

• A Nigerian man has shared information about an alleged Ponzi scheme which people are investing in
• He said the people investing in the alleged Ponzi scheme are not even aware that it is a Ponzi, which might end soon
• Already, some people in his comment section said the alleged Ponzi scheme he mentioned has already crashed and trapped their money

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A Nigerian man has shared vital information to educate the public about the dangers of Ponzi schemes.

The man advised that internet users should be wise and get accurate information before clicking to join investment platforms.

Emperor said those investing in the platform are not aware it is a Ponzi scheme. Photo credit: TikTok/@emperoryrn.Source: TikTok

According to the man identified on TikTok as Emperor YRN, if an investment platform promises too much profit and no loss, it is likely to be a Ponzi scheme.

He mentioned the name of one investment platform, which he suspects to be a Ponzi scheme.

He said the platform is known as ADK and that it promises users 100% returns if they follow their football predictions.

Emperor said the worst is that those involved in the investment platform are not even aware that it might be a Ponzi scheme.

He said one red flag is that there is no direct link to download the ADK app on the Google Play Store or the iPhone App Store.

He said the only way to get connected to the app is through social media referrals.

The man said some people are not aware they are investing in a Ponzi scheme. Photo credit: TikTok/@emperoryrn and Businessday.Source: UGC

Also, another red flag he mentioned is that the ADK is not regulated by government agencies such as the CBN and the Securities and Exchange Commission (SEC).

He mentioned that people are jumping from Cbex to ADK, warning that people might be left in tears in the end.

In the comment section of the post, someone claimed ADK had already crashed and trapped their money.

Watch the video below:

Reactions as man drops name of new platform he suspects to be Ponzi

@EBUBEDIKE said:

“Adk don crash boss with my money.”

@feel the vibes said:

“Na why I just stick with my finova I no need stress at young age.”

@Giddy Jono said:

“I ADK don crash yesterday, I lost 500k yesterday and I lost everything, I can’t withdraw and this money, the money is gone.”

@_emmygold._ said:

“Cbex users turning to diligent and obedient students now.”

@Prince Adeshina Olatunbosun said:

“Pcex say na next year January people go fit withdraw.”

@Chima Felix Onuoha #Ngabasi said:

“Learn from Ponzi scheme history in Nigeria Umana, MMM, Baraza now CBEX.”

@bl addited said:

“I will still come back to this video in the future to tell Una how future be.”

@Ado Yayajo said:

“Abeg make una talk abouts 52U investments my brothers in the north are in this ponzy.”

Catholic priest reacts to the crash of Cbex

Earlier, TheTalk.NG reported that a Nigerian Catholic priest has shared his observation about the alleged crash of Cbex, a digital assets trending platform.

Reverend Father Kelvin Ugwu, a Nigerian priest who is on a mission to the Gambia, said people do not want to be told the truth.

His comments come as people are alleging on social media that Cbex has crashed and that investors’ funds are trapped.

Source: TheTalk.NG

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