Nigerians in Dilema as the new MMM, RACKSTERLY folds up after few weeks

About a month ago, I wrote about a "money making" platform named RACKSTERLY (they claimed you will sign up with certain amount as subscription fee and then you earn double the amount after a month and all you do is post for brands like influencer marketing on your Facebook page, you will repeat this process after a month, you can also earn through referral). I saw them folding up immediately I was shown the terms and condition because this is clearly not the way influencer marketing works, Alas the prediction have come to pass.



It was evident that it is a ponzi scheme and not the way influencer marketing works, brand pay you to get job done but it was different in the case of Racksterly because no brands were paying them, one person just sat somewhere and developed a loop algorithm and now its folding up.


News reaching us is that they promised to make a refund but in their statement again they said " we will try and refund starting from those that joined this year but if you don't get a refund we are apologising ahead and will like to tell you ahead that if you try to sue us, we wont be having money by then" as they are shutting down.

They also said that those that subscribed should reach out to their referrals and explain clearly to them what has happened. They said they can't control outcomes but they can control how they respond to outcomes. They are now motivational speaker because they told subscribers more opportunities will come their way and said Racksterly has shown people that there are legitimate ways to make money online and there is a model that works, the question now is if it truly works why are they shutting down?

Nairaland also had the platform featured on their page but to peoples surprise it has removed when they checked back few days ago, I don't blame them because no one wants to be associated with a scam. With the history we all have at hand on how MMM went down few years ago when people was promised they will get their money back and was all lies all along because people stopped providing help, racksterly will go down the same way.

Adding up the following metrics like; no more new entries to the system, no brands is paying for adverts, they have paid the previous month and some did not subscribe, they already told subscribers not to sue them if eventually they did not get their money and so on, RACKSTERLY is not paying anyone. I hope people will learn from this again that before they venture into a business, proper background check is important. Google and know more about it, ask the learned for clarity.

Country is hard we know but it is a slap on our face if in 2020 we still fall for this kind of scam.

Let us know if you think they will refund all of them or not. Like and share for your folks that subscribed for it so they can move on.