Ponzi games are not anomalies—they’re recurring financial pathologies. This report puts the anatomy of a Ponzi game front and center and equips two audiences with concrete tools: a red-flag checklist for the public and a government playbook to shorten lifecycles and reduce harm. Drawing on a historical review of 15 cases across eras and geographies, we show that while the core mechanism has remained the same, digital platforms, payment rails, and crypto wrappers have made today’s schemes faster and more virulent.
Why this report matters?
- Anatomy first. A clear cash-flow engine, recruitment & hype dynamics, and collapse triggers—so people can recognize the pattern early.
- Public protection. A practical red-flag checklist (plain-language signals to pause, verify, or walk away).
- Government action. A 12-point playbook (registry checks, platform accountability, rapid response, proof-of-reserves, whistleblower protection) to cut scale and duration.
- Evidence, not anecdotes. A comparative lens across 15 documented cases (from early deposit clubs to Madoff and modern crypto schemes).
- Today’s acceleration. Same engine, new speed: social funnels, e-wallets, and crypto tokens compress time-to-scale and widen cross-border reach.
Inside the report
- The Anatomy of a Ponzi Game (cash-flow map; recruitment and opacity loops).
- Red-Flag Checklist for the Public (guaranteed returns, unverifiable strategies, unlicensed promoters, unusual funding channels, testimonial theater).
- Government Playbook (12 concrete measures to embed into supervision and platforms).
- 15 historical cases across six eras (proto, archetypal, macro-scale national crises, real-asset wrappers, modern finance and crypto, grey-zone systemic fragilities).
- Digital acceleration (platform funnels, payment rails, crypto complexity—and the on-chain tools that can aid detection).
- Scenarios 2025–2027 (baseline, downside, upside) to plan supervisory and institutional responses.
- Methods and data for reproducibility (sources, construction notes, glossary).
Who should read it?
Households and consumer-protection agencies; central banks and supervisors; securities and payments regulators; AML/CFT and market-conduct teams; platform and PSP trust & safety leads; risk, compliance, and audit functions; investigators and journalists
Read the full report
Ponzi Games: Anatomy, Evolution, and Containment Strategies (1879–2024)
