Within the space of two weeks, two people reached out, asking me to join this new “money-making scheme” that involves buying Ethereum for as low as ₦5,000. The way it works, as they explained, is that you’re expected to invest 5k, and then invite 2 people to enable you to rise to the “next level” and earn more returns on your investment. Sounds like a pyramid scheme right? They swear it isn’t because “Ethereum is real”.
Apparently, this is a thing even outside Nigeria. A quick Twitter search revealed that there are two popular schemes that use this model; Forsage and Million Money. I got a document (ppt) on Million Money from one of my contacts.
Here are two random tweets about it:
Looks like we have another MMM on our hands.