The social media is awashed with news of the return of MMM, a Ponzi scheme that existed for years before it was shut down.
MMM also known as Mavrodi Mundial Moneybox generated a lot of controversy on social media when some parsons who invested in it discovered they had been swindled.
It came into existence in 2011 but crashed in December 2016. However, in 2017, MMM announced its return but failed to launch the operation.
Apart from operating in Nigeria, the Ponzi scheme also operated in Kenya, Zimbabwe and many other countries of the world.
On March 26, 2018, the founder of the scheme, Mavrodi, who was also an ex-convict, died of a heart attack and this led to the shutdown of the scheme in April 2018.
However, on December 4, 2023, and also in the early hours of today (Tuesday) social media went into uproar 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 mission.”