However, some of these attributes are not functional yet, hence, the series of accusations on different fronts of Onecoin being a scam. More importantly, it has not been able to prove either that it has a source code, or a ledger where a record of its transactions are recorded and any exchange that trades in the coin.
MMM Global, on the other hand, promises a 30% monthly increase for participants in its scheme which has made its offer be irresistible for many Africans irrespective of their social status, religious and cultural beliefs. They flock after the pyramid scheme’s get quick money but unsustainable approach - especially in Nairobi, Kenya where local branches are reported to be springing up quickly - as run by a convicted Russian fraudster, Sergey Mavrodi, who reportedly created the biggest finance pyramid in Russia before it collapsed in 1997.