MMM Ponzi Scheme Rumoured to be back

The alleged return of MMM (Mavrodi Mundial Moneybox ), a Ponzi scheme that existed for years before it was shut down, has attracted so much attention on social media as Nigerians knock its return.

The initial schemecaused a lot of controversy on social media when those who had invested in it discovered they had been swindles, duped..

MMM ( Mavrodi Mundial Moneybox  ) came into existence in 2011 but crashed in December 2016 and in 2017, MMM announced its return but failed to launch the operation.

MMM ( Mavrodi Mundial Moneybox ) did not only operate in Nigeria at that time but also operated across many other countries and cities in the world.

The founder of the scheme, Mavrodi, who was also an ex-convict, died of a heart attack on March 26, 2018 and this led to the shutdown of the ponzi scheme in April 2018.

But, December 4, 2023, and also in the early hours of Tuesday, social media went berserk on the alleged return of the scheme. On the X (formerly Twitter) platform, ‘MMM is back’ became a trending topic.

It was reported that MMM has been renamed as MMMkrypto with claims that the sponsors are determined to ensure that the scheme “accomplishes its supposed objectives”.

The scheme crashed seven years ago on December 2016.

In a viral image posted online, the said rebranded scheme allows users to “earn up to 36 per cent referral bonus,” amongst other tempting benefits.