Panic in Nigeria as popular money doubling scheme crashes

[Ereporter]

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The website of one of the popular ponzi schemes in Nigeria, Ultimate Cycler, has crashed.

This has aggravated fear in the hearts of many who are into similar money doubling scheme, especially the controversial MMM. The ponzi website crashed early Thursday morning, December 1, around 10:30am, shutting out every member from their account.The site first displayed error codes in bold letters, then it proceeded to display another message: “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.”
Ultimate Cycler is a new ponzi scheme that came just after MMM. This new money doubling scheme claims a promise of better returns on invested money than MMM. The hook for Ultimate Cycler is members get a return of N50,000 after paying N12,500 to a fellow member he or she registered under. Dangers for members who have invested in it or others like MMM is that when such websites go down, chances are that it never comes up again and hence, “investors’” money goes with it.

The website was back up early this morning, Friday, December 2, 2016. According to the scheme’s Twitter account, the website was down because the servers were being upgraded.


Source: http://nigerianewsnow.com.ng/2016/12/02/panic-in-nigeria-as-popular-money-doubling-scheme-crashes/