Once again, some Kenyans woke up today to a sad realization when they couldn’t access their money invested in a Ponzi scheme named Cash24h.

Just like Live Auction and RichKash, the infamous pyramid scheme that had flown under my radar has lost a lot of Kenyans a lot of money.

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What Is a Ponzi Scheme?

Just like all the other referral programs I have covered, Cash24h is a scam that works like any other Ponzi scheme.

A Ponzi scheme is a fraudulent investing scam promising high returns with little risk to investors. A Ponzi scheme is a fraudulent investing scam that generates returns for earlier investors with money taken from later investors. They are based on using new investors’ funds to pay the earlier backers.

These schemes tend to eventually bottom out when this flood of new investors dries up and there isn’t enough money to go around.

Cash24h actually had measures to make sure you couldn’t withdraw from the Cash24h app unless you had 20 referrals. This made it difficult for cash24h users to withdraw their earnings and gave Cash24h easy money when they eventually decided to close down the operation.

I have covered a lot of these Ponzi schemes, don’t be like these users below, protect your money.


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Nigel Jr.
As a tech enthusiast and expert, Nigel Jr. is dedicated to providing in-depth and insightful content on all things technology. With a background in online journalism, product reviewing, and tech creation, Nigel has become a trusted source for all things tech.

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