Ultimate Cycler: Panic Grips Nigerians In MMM As Another Ponzi Scheme Website Crashes

There were signals of panic and consternation among Nigerians, who have invested heavily in the controversial MMM, after a sister Ponzi Scheme, Ultimate Cycler, crashed on Thursday, December 1, 2016.

It was learnt that since yesterday, members of the money doubling scheme were unable to login to their accounts.

When accessed, an error line of code will display and another message that reads: “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.”

The Twitter account also acknowledged that the website had crashed.

See Tweet Below

https://twitter.com/UltimateCycleNg/status/804409907785113600

https://twitter.com/UltimateCycleNg/status/804606784442892288

https://twitter.com/UltimateCycleNg/status/804608030058942464

Ultimate Cycler is a sister ponzi scheme to MMM that 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.

The demerit with these money doubling schemes is that, just like MMM, when such websites go down, chances are that it never comes up again and hence, “investors’” money goes with it.