Ultimate Cycler, one of the ponzi schemes (like MMM) in Nigeria crashed on Thursday. Nigerians who are members of this ponzi scheme and others are currently afraid of losing their investment to such schemes.
According to report, the ponzi scheme website crashed around 10:30am Nigerian time.
Ultimate Cycler is a new ponzi scheme that followed MMM. But it promises its members better returns on investment than MMM.
After crashing, when accessed, the website initially displayed ‘error 500’, then later it started to display a message that read:
‘Be right back. We are currently updating the site to give you a more pleasurable experience and will be back online shortly. Our update estimation is to be complete over the next 6-12 hours. Thank you, Peter Wolfing.’
Members of Ultimate Cycler get a return of ₦50,000 after paying ₦12,500 to a fellow member who has registered them.
The popular belief is that when such websites (ponzi schemes) go down, there is a slim chance they come up again and members end up losing the money they invested.