Ultimate Cycler, a direct participant-to-participant payment system, is a Ponzi scheme which gained popularity in 2016. It was created by Peter Wolfing to ‘help’ people elevate their financial status through member-to-member donations. Wolfing, as gathered, is also the creator of the following schemes, Infinity 100, Pay Me Forward, Turbo Cycler, Easy 1UP, and National Wealth Center.
Participants on Ultimate Cycler don’t pay money into the scheme’s system, rather, they get all of their payout directly into their bank accounts. The site can be accessed only after an intending member must have registered with the sum of N12,500. Once this is done, the system pairs you with another participant who you will you pay the sum of N12,500 within 48 hours.
But before you do this, it is expected of you to contact the receiver and make proper arrangement with him on how to make the payment. The receiver is expected to acknowledge your payment on his account once he receives the money.
Upon the confirmation of your payment on ultimate cycler, you are then allowed to have full access to the platform. At this point, you can now fill in the necessary information, including your account details. You are also expected to edit and update your ultimate cycler account.
What Is Ultimate Cycler?
Ultimate cycler is an online Ponzi scheme that pairs registered members together to help each other by donating funds with the aim of making money in return.
On ultimate cycler, participants are entitled to receive help from other registered members within 14 days of registering unlike MMM, where members receive their spillover cash after one month. On this Ponzi scheme, members get 300% interest in profit in addition to their initial donation of N12,500 within 7 to 14 days. The hook for ultimate cycler is that participants are rewarded with the sum of N50,000 after paying N12,500 to a fellow member he or she registered under.
The Ponzi scheme’s earnings can be summarized in six stages which are:
Stage1 – You are given $100 (N50,000)
Stage 2 – You receive $200 (N100,000)
Stage 3 – You receive $400 (N200,000)
Stage 4 – You receive $800 (N400,000)
Stage 5 – You receive $1,600 (N800,000)
Stage 6 – You receive $3,200 (N1,600,000)
How Can One Register And Login?
Registration on Ultimate Cycler is carried out on the Ponzi Scheme’s official domain or through a participant’s referral link.
The next step is to fill the registration form online. You can achieve this by logging in via www.ultimatecylcer.com. In your registration process, you will be required to fill in the following information:
Your first name: E.g. Edith
Your last name: E.g. Charles
Email: [email protected]
Mobile number: 08087654321
Contact number: You can use your mobile number in place of your contact number
Mobile Carrier: E.g. Glo, Etisalat, MTN, Airtel (You are expected to indicate the line you are using)
Username: Choose a suitable username you can easily remember.
Password: Ensure not to enter a password that is too difficult to memorize or remember.
Then, enter the captcha code in the box provided on the page. This is very important.
After you must have completed this page, on the subsequent pages, you will be required to:
- Agree with the terms and conditions of becoming a member by ticking the box.
- Scroll Down and click on ‘Create My Account and Continue’ and tick the 3 boxes and continue to the third page.
On the third page, you would need to enter your address, country of residence, and other details which include – your street, city, state, postal code (you can use 234 as your code), country, and mobile phone number.
After you’ve completed this, simply scroll down to fill in your banking details, which is your bank name, account name, and account number.
Lastly, click on the ‘finished & save create my account’ icon and the ‘Thank You’ box.
Is Ultimate Cycler Still Active?
Like its predecessors, ultimate cycler is no longer active. The Ponzi scheme ‘cycled’ into oblivion shortly before Mavrodi Mundial Moneybox, popularly known as MMM initially froze its members’ accounts.
Participants on the money doubling scheme were initially thrown into panic on December 1, 2016, after reports emerged that the site – ultimatecycler.com – had crashed after it kept displaying an error message which read: “Be right back. We are currently updating the site to give you a more pleasurable experience and will be back online shortly”.
The self-acclaimed founder of Ultimate Cycler, Peter Wolfing, at the time, was forced to address the development. He urged participants to exercise patience with the scheme as they were working to upgrade the site, which left members with the option of only viewing their inbox but barred them from making transactions or registering new people.
As promised, Wolfing revived the site after 24 hours, alleging that the crash was due to a distributed denial of service attack (DDoS).
Ultimate Cycler finally dived into oblivion a few days into the new year 2017, and ever since, nothing meaningful or helpful has been read or heard about it. Users of the money doubling site learned about the Ponzi scheme’s tragic cessation after they were left with no information about its status and activities. It finally dawned on most of them that ‘investors’ have gone with their money after the scheme’s major inner pages and login pages failed to respond.
The rise and fall of the money doubling scheme, no doubt, dealt a great blow on many Nigerians who lost millions of naira to the fraudulent programme.