South Africans Supporters of Alleged Global Bitcoin Scam MMM March On
Supporters of MMM, which is accused of being a Ponzi scheme, marched in Soweto, South Africa in celebration of the Financial Freedom Awareness campaign, coinciding with South Africa’s Freedom Day, according to Independent Online (IOL), a South African news source. MMM Global is under investigation by The Hawks, South Africa’s Directorate for Priority Crime Investigation (DPCI), which targets organized crime, economic crime, and corruption. Brigadier Hangwani Mulaudzi said investigations into MMM continue. The scheme is active in various countries and has been accused of being a Ponzi....
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MMM is currently under investigation in South Africa by the Directorate for Priority Crime Investigation - HAWKS. There are mixed reviews about MMM Global, the alleged Ponzi scheme run by Sergey Mavrodi. While many people across the internet are calling it an elaborate fraud, there are those, a significant number of people in South Africa who are defending these very schemes. MMM Global is currently under investigation in South Africa by the Directorate for Priority Crime Investigation – HAWKS. As the investigation continues, the supporters of MMM have come out in large numbers to protest....
About 53% of South Africans have little to no knowledge about cryptocurrency, while only 14% thought or felt they had a better understanding of the subject, a report has said. Nearly half of the respondents said they would only invest in cryptocurrency if or when their respective banks are involved.
South Africans Weigh In on Crypto Knowledge
According to the findings of Merchant’s consumer survey study, just over half of South Africans (53%) have little to zero knowledge about cryptocurrency. The study also found that out of the surveyed South Africans, only 14%....
According to the findings of a study by KLA, a market research and data specialist firm, some 47% of South African adults are holders of cryptocurrency, with the majority of this number holding low-value investments. In addition, the study shows that 36% plan to invest in crypto in the future. South Africans Still Experimenting With Cryptocurrency Though the KLA findings report that 47% of South Africans are holders, the Businesstech report quoting KLA’s Tessa Nowosenetz explains the value of crypto assets held is still very low. This low average value suggests that many are still....
South Africa’s national broadcaster has suspended one of its employees that is accused of convincing unsuspecting people, including pensioners, to invest in a cryptocurrency scam. More than 100 people are believed to have fallen victim to promises of very high returns to investors in the bitcoin investment scheme.
300% Return on Investment
The South African state broadcaster recently suspended one of its radio presenters, Sebasa Mogale, after a media exposé suggested he may have been part of a cryptocurrency scam outfit that reportedly promised a 300% return on....
ZapGo aims to revolutionize how young South Africans spend their cash online. The new mobile money start-up by South Africans Michail Brynard and Helghardt Avenant (currently halfway through the Boost VC accelerator program in Silicon Valley), uses the Bitcoin network as the underlying mechanism to transfer value. However, this is not an entirely new business. The duo ran it as Xoin prior and offered a slightly different service of selling bitcoin redeemable vouchers as an easy way to make the crypto coin accessible to many. From Xoin, they learned that bitcoin in its raw form is too....