First Published: 17th of October, 2020
Last updated: April 30, 2021 at 17:37 pmI’m the admin of the Facebook Group, “Guyana, South America.” On average, every day we get about 50 membership requests from people who are interested in joining the group. Since the group is about the country of Guyana, we welcome international members who may be interested in learning about the country of Guyana.
However, it turns out that about 40 of these 50 membership requests daily are from accounts that are attempting to sell Bitcoin or Forex Trading Scam investment opportunities. People behind these accounts often create multiple Fake Accounts and join massive amounts of groups. They then spam the groups with their alluring and fraudulent money making offers.
Needless to say, it is tedious to scrutinize membership requests, so I just accept everyone. However, as a rule, I delete all posts selling money making schemes and block the member who posted it. Many of these spammers post their “offer” in the comments section. I take the same action: delete and block.
Unfortunately, these spammers are spawning faster than we can block them. And when you block one, five more have already entered the group. This is the snowball effect resulting from a pyramid scheme – one that it is ultimately bound to collapse.
Idle minds are always sitting down and trying to devise ways to “make money” from others. This is by no means bad when it is done the right way. For example, you can create a profitable company which produces a valuable product or service and hire scores of well-paid employees – and you would be making money from the efforts of other people in a mutually beneficial way. A pyramid scheme on the other hand is a useless contrivance that often sells undervalued, noncompetitive or sometimes completely useless products.
Most of the people pitching these offers do not even know that they were duped into a system that is bound to collapse – and one in which most people are bound to lose money. They were sold the fairy tale story and the pipe dream that “if you recruit two people…and they recruit two…then eventually.”
All of that sounds nice in theory, but the whole business is a useless affair that does not target a market, deliver a valuable product or rake in any solid revenue. Many of the people duped by the creators of pyramid or ponzi schemes often run around trying to recruit friends, acquaintances and family members. It just doesn’t get anywhere.
Apparently, Ponzi Scheme operators have now trained their victims to create Fake Facebook accounts and in turn train others to do so – creating the snowball effect. Consequently, Facebook groups are literally infested with fake Facebook accounts enticing people with spam (and scam) advertisements such as “make 3000 dollars by investing 300 dollars” or “make 1000 dollars per day” or “make 5000 dollars weekly working on your smartphone…no investment needed…etc.” Do not fall for these. You will notice that many of these accounts have the image of a cryptocurrency as their profile photo. Stay away from them. Report, delete, block.
