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.
While we know Global Aid Club investors lost a quarter of a million dollars, total victim numbers are unknown.