I do want to know if my idea or decision on this is the right way?
And also have you come in contact with people that invests their money in any ponzi scheme and tried talking them out and what was their response ?
Meaningful opinions are welcome.
You did it right and there's nothing wrong, at least you tried to warn and now it's up to them to listen or not.
Help them understand that Ponzi schemes are unsustainable by nature. Eventually, when there aren't enough new investors to pay returns to earlier participants, the scheme collapses, causing the majority of investors to lose their money