For years, financial scams have preyed on people’s desire for quick money, but few have matched the scale of FBC. A platform that promised users massive profits for minimal effort, it convinced over a million Egyptians to invest their savings. The result? $6 billion vanished overnight, leaving thousands in financial ruin.

What is FBC?

FBC was an online investment platform that claimed to generate profits through advertising and digital marketing. It emerged in Egypt in recent years, gaining traction through aggressive social media advertising and word of mouth. The platform lured users in with promises of easy earnings:

• Watch YouTube videos and earn money—engage with content and get paid.
• Deposit money and get guaranteed high returns—with interest rates as high as 200%.
• Recruit others to earn even more—a classic pyramid scheme.

Initially, FBC gained trust by delivering small profits, convincing users to reinvest and recruit others. But behind the scenes, there was no real business—just a cycle designed to collapse once enough money had been collected.

If It Sounds Too Good to Be True, It Almost Always Is

Scams thrive on one simple trick: offering rewards that seem too good to pass up. The promise of quick, guaranteed profits should always be a red flag. If an investment opportunity claims you can double your money overnight, it’s not just risky—it’s likely a scam. Yet, despite countless warnings, people continue to fall for these schemes.

A similar scam, the infamous MMM Global Ponzi scheme, operated on the same principles, promising unrealistic returns before collapsing and wiping out billions of dollars. These schemes always rely on new victims funding older investors—until they inevitably implode.

How FBC Trapped Its Victims

FBC initially presented itself as a legitimate investment platform, claiming to generate revenue through digital marketing. However, it soon morphed into a pyramid scheme, relying entirely on new deposits to pay off earlier investors.

To further entice victims, FBC promoted its “Watch YouTube and Earn” model, creating the illusion of a working system. Victims believed they were earning from their activity, when in reality, no real revenue was being generated.

With a minimum deposit as low as 720 EGP, the scam spread rapidly through Telegram groups and aggressive social media marketing. Victims, particularly in rural areas, saw it as a golden opportunity, unaware that there was no actual business sustaining the platform.

The Grand Finale: The Exit Scam

Then came the “Last Supper” con. Just days before shutting down, FBC executives hosted a lavish dinner in Imbaba for their biggest investors, urging them to recruit more people. Promises were made. More money poured in. And then—silence.

Overnight, FBC claimed they had been “hacked”, promising a quick resolution. But in reality, the entire operation vanished. The app was shut down, the website disappeared, and the people behind it cut all contact, switching off their phones and deleting their social media accounts.

The Aftermath: A Nation Scammed

• Egyptian authorities are investigating the scam, with police reports flooding in from multiple governorates.
• At least one arrest has been made, but the main masterminds remain missing, believed to have fled the country.
• Leaked data from FBC has surfaced on the dark web, putting victims at risk of further cyber fraud.
• Millions of Egyptians have lost their savings, with some even selling their belongings to invest.
• Some victims have formed online support groups, calling for legal action and tracking down those responsible.

Why Do People Keep Falling for This?

It’s easy to blame victims, but the reality is scammers are getting smarter. With Egypt’s tough economic conditions, the promise of easy money is a tempting trap.

• Financial literacy is low, and many don’t know how to identify a scam.
• Fraudsters use psychological tactics—small payouts at first to build trust, then they pull the rug.
• Scammers fake legitimacy, using influencers, social media ads, and even hosting in-person events.
• Regulations are slow, allowing these scams to operate under the radar before authorities step in.
• Victims are often pressured into investing quickly, fearing they’ll miss out on a “once-in-a-lifetime” opportunity.

How to Protect Yourself from Scams

To avoid falling for similar schemes in the future, here are some steps to take:

• Research the company—Verify if it’s registered with legitimate financial authorities.
• Be skeptical of high returns—If it sounds too good to be true, it probably is.
• Don’t invest in anything you don’t understand—Scammers rely on confusion to lure in victims.
• Avoid pressure tactics—Legitimate investments don’t require urgent sign-ups or referrals.
• Check online reviews and complaints—If a platform has no verifiable history, it’s a red flag.

When Will This Stop?

At this point, if someone tells you, “Just invest, you’ll get double your money,” RUN. Or better yet, report them.

So, what do you think—should authorities do more to prevent these scams, or is it on people to be smarter with their money? Tell us in the comments!