ToFro has received a Ponzi fraud warning from Nigeria’s Securities and Exchange Commission (SEC).

As per the SEC’s April 30th, 2025 ToFro warning;

Investigations have revealed that Tofro’s operations exhibit the typical indicators of a fraudulent Ponzi scheme, including the promise of unusually high returns, heavy reliance on a referral system to sustain pay-outs and failure to honour withdrawal requests from subscribers.

Accordingly, the public is strongly advised to be wary about investing with Tofro, as any person who places such investment with the entity, does so at his/her own risk.

ToFro is part of the collapsed MTS Foundation “click a button” app Ponzi.

MTS Foundation used a a typical trading signals ruse, with bogus trading signals fed to investors through ToFro.

MTS Foundation’s website was disabled earlier this month. ToFro’s websites are still up but are assumed to be non-functional.