AfriQuantumX burst onto the scene, claiming it combined artificial intelligence with cryptocurrency trading and promised investors reliable financial growth.
The platform encouraged investments starting from $250 and reportedly attracted $51 million, paying out $452 million in dividends.
It also highlighted nearly 35,000 verified users and thousands of active investors enjoying its financial services.
AfriQuantumX Ponzi Scheme Exposed
Yet the reality may be far less promising.
Nigeria’s Securities and Exchange Commission (SEC) warned the public, labelling AfriQuantumX as a typical Ponzi scheme.
The regulator emphasised that the platform does not register to solicit investments or operate legally in Nigeria’s capital market.
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Moreover, SEC stressed, “Anyone investing in AfriQuantumX takes full responsibility for their financial risk.”
Investor Caution Needed
Investigations revealed that AfriQuantumX actively promoted itself on social media and online forums, a common sign of fraudulent schemes.
Consequently, SEC reminded investors that dealing with unregistered companies exposes them to fraud and potential loss of funds.
The Commission urged the public to verify any company’s registration at www.sec.gov.ng/cmos before committing money.
Ultimately, AfriQuantumX’s promises of effortless profit and regional economic growth may mislead investors, proving that offers sounding too good are often deceptive.
