Global Aid Club Ponzi collapses, withdrawals disabled
Although Global Aid Club launched in late September 2023, its smart-contract wasn’t created till October 5th.
BehindMLM reviewed Global Aid Club on October 7th, identifying it as a Ponzi scheme.
We also identified Andrew Colquhoun as the creator of Global Aid Club’s marketing material, as well as the likely owner of parent company SpicyDevs.
A few hours after our review was published, Colquhoun turned up to deny he was running Global Aid Club.
A few hours after that, Colquhoun and his accomplices drained Global Aid Club’s smart-contract and disabled withdrawals.
As of October 5th, Global Aid Club’s smart-contract held 530 BNB, or approximately $111,720.
This rose to a peak of $1048 BNB ($222,492) on October 7th.
On October 8th, Global Aid Club’s smart-contract was drained to 2 cents.
As usual, only admins like Colquhoun, early investors and top Global Aid Club promoters made any money.
Update 10th October 2023 – Global Aid Club’s admin has been outed as US-resident Michael OBrien.
/end update
While we know Global Aid Club investors lost a quarter of a million dollars, total victim numbers are unknown.
We can estimate the maximum possible victim count though. Spoiler alert: it’s very low.
What do we know? At its peak Global Aid Club had 1048 BNB in its smart contract. Let’s round this up to 1050.
Positions cost 50 BNB. Simple math gives us the grand total of… drumroll, please… 21 positions. So we have a maximum of 21 victims. Actual number might be even lower, given the incentive to invest into more than one position.
21 positions has to be close to just the YouTube/Twitter shills investing and getting rekt lol.
50 BNB??? More like 50$ worth of BNB. So..much more victims than your 21..Read facts before commenting.
Oh no, this one’s on me. I cited 50 BNB in the original review when it should have been $50 in BNB!
To be fair it’s crypto so who cares but still, my bad.
edit: No wait, I don’t suck. This is from Global Aid Club’s comp plan:
The crypto scammers failed.