An American-based online crypto trading site with over 10 million users, mostly from Nigeria, Ghana and Caribbean countries, had reportedly crashed, leaving the traders stranded with millions of dollars stuck with no hope of recovering it.
Some Nigerians who invested in this site are now in anguish as the hope of reaping from their investment is dashed.
Over 3 million Nigerians said to have invested in the crypto trading are now gnashing their teeth as they could not retrieve their fund.
The fraudulent platform started around February this year with this inscription on its X account that said,” – !
Invest $10 and expect daily profits of $0.19 to $0.31
Invest US$100 and expect daily profit of US$1.9 to US$3.1
Invest US$1,000, the daily income can reach US$19 to US$31.”
The get-rich-quick campaign made many Nigerians and other countries invest millions of their hard-earned income to reap handsome gains from their investment, but unfortunately, it was a scam.
The most pathetic is one of the investors, whose name was given as Daniel Ocheme.
He is a middle-aged guy who lost his job at one of the oil companies in Nigeria and was paid his entitlement to the tune of 25 million naira.
Instead of investing the money in a profitable business, he decided to pour it into Qubit Cube without reserving a dime for his family’s upkeep.
Ocheme’s hope was to win big as he had been convinced by his friends who are into Qubits Cube trading, but unfortunately, he lost the entire fund.
In Kogi State, some civil servants were said to have taken loans from the banks to invest in the platform with the hope of making ends meet but failed in their expectations as the money was lost, and the wages are now in the custody of the banks.
Nigeria’s financial regulatory agencies and the Central Bank of Nigeria, CBN, have advocated against investing in Ponzi schemes, but many have ignored the regulatory advice due to greed.
Recall that many Nigerians lost millions of naira to a Ponzi scheme called MMM, which originated from a Russian scammer several years ago, but no lesson had been learned.
