I designed this imaged using Canva.
You know how when you’re being scammed you know but you just think it can’t happen to you? Well it happened to me.😅
I find it funny how I managed to let myself get trapped in the Ponzi world although I knew from the start it was a very bad idea.
So about a year and a half ago, I got myself involved more in crypto. I got to learn about blockchains, crypto wallets and crypto platforms. It was then I realized I have been missing a very huge financial market and so decided to get myself more involved.
I was introduced to one of these Ponzi schemes by a friend. Was in the hostel when one of the guys forwarded it to me and spoke about how he earns extra income on his initial $50 investment. I told him to forward the details to me so I have a look at it.
I told myself this was a scam and I wasn’t going to get myself involved. I was able to stay away for a while but then most of my friends got involved and it became a topic for discussion every time we were together.
Just like me they all knew it was a scam but then they said it was relatively knew and so they’ll leave with their profits before they get scammed. They were able to convince me but because I wasn’t totally in I said I’ll start with just $50.
Screenshot of CG channel from telegram.
This Ponzi was called CG trading. The whole idea behind this was that you join a telegram channel where an expert called Suresh will give you signals to trade.
There was a trading plan every user was supposed to use based on their capital. We used to trade from level to level 7. So if you’re successful at level 1 or any other you don’t proceed further. The most luring thing was that the owners said they’ll be responsible if losses were incurred and will refund monies to those who lost it because of their signals provided they were using the right plan.
Trading plan for CG
Funnily enough, they did refund some users including few of my friends before I joined. I was strictly adhering to the plan and making a few cents after every trade. By the end of the day I used to make about $1.2 on my $50 investment. Everything was working smoothly and I was satisfied.
Screenshot of my first investment on CG trading platform.
But one afternoon I visited of my friends. He was using a $200 trading plan with the same capital I had and was making $16 at the end of each day. At the time we never exceeded level 4 which meant he was still safe.
I got greedy and decided I was going to use the same plan. I completely forgot about my bad luck.😂
The first 2 days everything worked out great and I made $32. Tears filled my eyes and I even forgot this was a scam😅. During one our trades on the third day a senior from school saw my number in the group and texted me. He welcomed me to the platform and asked if I was following the plan. Cos I knew if I didn’t answer in the affirmative I’d get advised, I told him I was 😂 and missed out on the lecture. That day was my first day of reckoning.
We exceeded the 4th level that day and entered the 7th level. That was the first time I lose my investment. But I didn’t stop there. I was determined to make more🙂.
I deposited again but this time I made it $100. I quickly entered $300 and was using that plan. The greediness got to me and there was no way I was backing down. But of course when you get greedy you start to think you’re better off trading on your own and that happened.
I started trading on my own and for some time it worked. I was making more money everyday till one evening while at studies I decided to trade again. I went for the one minute trade this time and it was fun. It was quicker as I kept getting the results faster and that was the same way my money flashed before my eyes😅.
I didn’t want the guys knowing that I traded on my own and lost so I kept it quiet. I was broken at first but then I was determined to recover my money. Another rookie mistake.
I reinvested a lot into this CG trading and this time around I was using the right plan. I was not longer trading on my own. I had lost quite a lot and wasn’t ready to lose more. This didn’t last.
It was during fasting period and almost time for Eid when we all lost our money. We had just finished praying and it was time to trade. We went through about 2 successful trades and on our third one things got weird.
Everyone got a 0 attached to the amount they entered. I was alone in my room at the time and thought I made a typo. I heard the guys complaining too and then we realized things were wrong.
People in the group started complaining and Suresh sent a message telling us they had a problem with the system and they would try to sort it out but we should continue trading till we recover the amount we lost. We knew things were over at this point😂.
We couldn’t withdraw the remainder of our funds but could transfer funds in. I was fortunate not to make further deposits for a couple of friends make further deposits.
The crazy thing is that when you get yourself involved in the Ponzi schemes it’s difficult to get out. Soon after CG collapsed, LBP trading was the new hot cake. We promised each other we weren’t going to get our dodger involved but it was a lie. We wanted our money back.😂
Screenshot of LBP channel on telegram.
I deposited into LBP trading to test it out. The interface was so bad that one glance at it and you’d know it’s a scam. My plan was to withdraw my money after every trade.
Few days after I joined LBP trading, there was a message on our telegram page instructing us to change our passwords to protect our account. I doubted at first but I later gave in. After I did, another message came instructing us not to listen to that message because it wasn’t from them but that was too late.
I logged into my account and my investment was gone. There and then, I promised myself to quit Ponzi schemes and save myself from stress. I’ve soon not entertained anyone trying to convince me to join any platform that sounds like Ponzi.
These Ponzis messed up my finances a lot and I’ve been trying to recover since.
This is my journey on how I became a Ponzi rider but was able to quit to save myself.
Congratulations @yahuzah! You have completed the following achievement on the Hive blockchain And have been rewarded with New badge(s)
Your next target is to reach 600 upvotes.
You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPTo support your work, I also upvoted your post!
Check out the last post from @hivebuzz:
Support the HiveBuzz project. Vote for our proposal!
Click on the badge to view your board. Click [here](https://hivebuzz.me/rankingWC) to check your ranking.
Thank you to our sponsors. Please consider supporting them.
Check out the last post from @hivebuzz:
Bro we really just kept moving from frying pan to fire, then back to a frying pan and to fire again lol. Our ponzi riding days were glorious(and short-lived fortunately)😂😂😂
They had to be short lived. We would have been on the streets if it wasn’t.😂
Lol to short lived wrong investments and ventures🥂😂
We messed up big time.😂😂
😂😂. CG really had us for good. The funny thing is that we all saw it coming but we were still doing it. Maybe we taught we could jump ship before it sunk.
We all knew it was coming but we thought we could escape it and it got us real good.
Click on the badge to view your board. Click here to check your ranking.
Thank you to our sponsors. Please consider supporting them.
Check out the last post from @hivebuzz: