An online investment platform known as XM Future Music Group has reportedly collapsed, leaving many Nigerians unable to access their funds amid allegations of a Ponzi scheme.
Another online investment platform identified as XM Future Music Group has reportedly crashed, leaving many Nigerians stranded and unable to withdraw their funds.
The platform allegedly promised users returns of up to 100 per cent within 30 days through a model that claimed participants could earn money by listening to music and completing online tasks.
Investment packages reportedly ranged from ₦21,600 to ₦93 million, with promoters allegedly claiming investors could earn hundreds of millions of naira in returns.
Trouble reportedly began after withdrawals stopped, support groups were muted or deleted and the platform became inaccessible within the last 24 hours.
Reacting on X, a user identified as Jimmy Olajimmy wrote, “XM FUTURE MUSIC just crashed. Another MLM scheme gone.”
Another user, #BEazebuy, warned, “Make we learn abeg, nothing like ‘100% return in 30 days.’ If e too sweet, e dey poison.”
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