MMM, the “online Ponzi scheme” that collapsed in South Africa in 2016, is offering a Bitcoin-based currency to users, reported Fin24.
The report stated that MMM told South Africans on its Facebook page that “mavro-BTC is being introduced in the system”.
This follows the scheme telling members in 2016 that they could not withdraw their “old rand-based mavros” due to a scheme “reset”.
“MMM South Africa blamed its system’s crash on a media campaign to shut down the Ponzi scheme,” stated the report.
It told South African members to be patient while its “programmers finished updating the system with new mechanics”.
On 8 January, MMM introduced a “new mavro-BTC” to its members.
“The new currency is being advertised to its members around the world, including Japan, China, Mexico, as well as in Nigeria – where the scheme also collapsed in 2016,” stated the report.
Fin24 previously reported that a similar global initiative – MMM’s Global Republic of Bitcoin – also went bust.