MMM NFT: The Same Old Ponzi Dressed Up in Blockchain
They're doing it again. MMM NFT is just the latest reboot of a Ponzi scheme that's been collapsing and relaunching for nearly two decades, this time betting that slapping "NFT" on the scam will fool people who didn't fall for it the last five times.
The original MMM Global was a Russian Ponzi run by Sergey Mavrodi. He died in 2018, supposedly broke. But his scheme never really died. Investigators at BehindMLM have tracked at least four separate attempts to resurrect it since then—using a lookalike to replace Mavrodi, a deepfake video, and most recently a failed 2020 reboot called MMM DAPP that left its website up but non-functional.
Now comes MMM NFT. The operators registered the domain mmm-nft.art on September 13, 2022, keeping their identities hidden. They've stolen Mavrodi's likeness for their site. They've even borrowed his entire business model wholesale. The Russian Central Bank saw it coming and issued a fraud warning on October 21.
Here's how they're pitching it: invest $100 or more in Binance Coin and earn a guaranteed 30 percent monthly return. That's 360 percent a year. Forever. No products. No services. No legitimate business generating that kind of money. Just new recruits funneling money in, which gets paid to earlier recruits. That's the entire scheme.
The compensation structure is textbook MLM. Affiliates earn referral commissions in a unilevel system that runs five levels deep. Recruit someone directly and you get 5 percent of their investment. Your recruit brings in someone and you get 2 percent from that person. Drop to level 3 and it's 1.5 percent. Levels 4 and 5 pay 1 and 0.5 percent respectively. The math is simple: you only make money if people keep joining and investing.
And that's where it all falls apart. Every Ponzi scheme has a breaking point. It arrives the moment recruitment stops. When there aren't enough new investors to pay the promised returns to old investors, the whole thing collapses. The math is merciless. Most people in Ponzis lose money. This is guaranteed.
Whether MMM NFT actually has legitimate NFTs backing these "investments" is unclear. Probably doesn't matter. The NFTs are window dressing on a 20-year-old scam. The actual mechanism requires nothing but a database and a payment processor willing to look the other way. Everything else is theater.
MMM NFT is betting that enough people either don't know the history or think blockchain somehow changed the rules of mathematics. It hasn't. The scheme will recruit furiously at first, attract late-stage investors desperate to get in before it collapses, then implode when the math finally catches up. It always does.
🤖 Quick Answer
What is MMM NFT and its connection to the original MMM Global scheme?MMM NFT is a recent iteration of the MMM Global Ponzi scheme, originally operated by Russian Sergey Mavrodi. After Mavrodi's death in 2018, multiple revival attempts emerged, including deepfake videos and failed relaunches. MMM NFT represents the latest incarnation, utilizing blockchain and NFT technology to attract new participants to the decades-old fraudulent structure.
How many times has the MMM scheme been relaunched since its original collapse?
According to investigation by BehindMLM, the MMM scheme has undergone at least four distinct resurrection attempts following Mavrodi's death in 2018. These include attempts using lookalike replacements, deepfake technology, and the 2020 MMM DAPP project, before the current MMM NFT iteration launched
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