Global Aid Club, a Ponzi scheme that was only recently launched in September 2023, has disabled its withdrawals, which may be a sign of anything fishy or the scheme’s collapse.
This post will provide you with a quick overview of current events in Global Aid Club business operations and direct you toward the next step.
What is the Global Aid Club?
Due to its claims of offering unrealistic profits on its platform, Global Aid Club is a cryptocurrency investment platform that attracted the attention of the general public in the market. On August 2023, the domain name Globalaid. club was registered.
Andrew Colquhoun, from the United Kingdom, was one of the known individual personalities involved in it. The marketing for Global Aid Club was orchestrated by Andrew Colquhoun, who is also listed as the owner of the parent firm.
In the past few hours, a lot has happened in the Global Aid Club business, including Andrew Colquhoun leaving the company, Global Aid Club blocking user withdrawal requests, and its smart contract draining to a very low level.
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Global Aid Club Collapses
In light of the events that have occurred since Andrew Colquhoun severed his ties with the Global Aid Club and the sudden disabling of withdrawal, it seems clear that the Global Aid Club is likely to have collapsed. Or it is the departure of its operators, or it might only be a brief pause in business.
Furthermore, the company’s cryptocurrency holdings have decreased to a low level as well, even though it continues to assert that it is profitable. Amid these events, this is such a warning that something is about to occur.
However, in the majority of Ponzi schemes, the operators utilize terminology like “withdrawal halt due to glitch,” “system upgrade,” and many others as an excuse to leave the firm. However, in this instance, there hasn’t been any notice or anything, thus the likelihood that this isn’t a complete collapse is low.
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Users risk losing their investment if there is a complete exit, but if this is only a temporary halt in operations, users should withdraw their funds as soon as they can because it is almost guaranteed to collapse.
We have already cautioned consumers on numerous occasions not to fall for these Ponzi scams and how they can cost you a significant amount of money if they fail. We have also provided education on how to spot these Ponzi scams and the warning signs they typically display; Global Aid Club has also adopted a similar pattern.
This time, we also want to advise patience and to notify your local authority that oversees these types of businesses about Global Aid Collapse if, despite waiting a long time, you still haven’t received your money.
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