Most participants know it is a scam. But they think they can get back the money before the scheme collapse. They are not the last one to lose.
It does seem so
Even with all the warnings posted everywhere, many still seem to be willing participants of this hot potato game hoping to profit at the lost of others
Above a certain level, that's probably true, but at the bottom of the pyramid most are firmly in denial, having drunk heavily of the Kool Aid.
On social media, the South African scheme for example, first time 'investors' are sharing their dreams of new furniture/cars/houses and attack anyone who queries it.
Among people who see little future for themselves and their families because of a corrupt financial system, Mavrodi's message is a genius piece of button pressing.