By Latiifah Amusan
The infamous Ponzi scheme Mavrodi Mondial Moneybox (MMM) has made a comeback, this time rebranded as MMMKrypto.
The scheme, which left millions of people bankrupt in 2017, has resurfaced enticing unsuspecting individuals with promises of up to 36 percent returns on investments.
Similar to the previous version, participants are required to register and invest a certain amount by “providing help.”
They can then expect to receive their initial investment along with the promised interest after 30 days.
The resurgence of MMMKrypto—as seen in a a tweet by user @Am_Blujay on X—has generated mixed reactions from Nigerians.
According to the Nigerian Deposit Insurance Corporation, NDIC, an estimated three million Nigerians lost N18 billion to MMM in 2017.
Reacting to the tweet, a user @Meshak M Baloyi said: “MMM is back to accomplish its mission” I’m sure the “mission” is to finish them All.
Another tweep @W_Shabagu expressed shocked at the shoddy rebranding attempt of the Ponzi scheme. “How are these people so confident? Not even a name change or something.”
“Back by popular demand. I should hop in too. People earn profits when it’s just started,” wrote @Savenoho.
For @blessingdiv, “There are new students who need to be schooled by the MMM school…interested students can enroll but it’s tears at graduation.”
