Recognise The Dangers
As a South African site, we focus primarily on the scams that are either born and bred on our shores or international platforms which are aimed at the African continent. Africans are notoriously known to fall prey to scammers as they pursue “Financial Freedom” on a continent known for abject poverty.
In this Section we will explain specific online platforms and the mechanics behind them. This will assist people in recognising the dangers and why they will inevitably lose money.
All of the systems that are unsustainable, having no product, are based on mathematics. Unfortunately most people do not understand this or take the time to understand or study the evidence presented.
People being paid is NO indication of sustainability, but more a carrot to recruit people into the TRAP.
Online Donation Exchanges/Stokvels
We have a dedicted page to explain the dangers of this type of HYIP (High Yield Investment Programe.) The standard HYIP does not only include a normal Ponzi Scheme by nature, but also includes the Peer to Peer donation systems offering unsustainable returns in very short time frames.
South African Ponzi Schemes
Featuring HYIP and “Trading” Ponzis to demonstrate the dangers of these platforms. The story behind BTC Global and the mechanics behind its creation as it is one of the more prominent and the first Bitcoin scam which originated from South Africa.
Telegram Scams & Arbitrage Trading Bots
Telegram has become a quagmire of scams and trading bots. One of the very first “Get Rich Quick”schemes to appear on telegram was a platform names “Lara with Me”