The Trouva investment scheme, which lured many South Africans with promises of extraordinary returns, has officially crumbled, leaving scores of “investors” devastated. On Thursday, 3 October 2024, numerous victims reported that the platform was no longer allowing withdrawals, instead demanding further deposits under the pretense of “identity verification.”
Participants in the scam received WhatsApp messages from individuals behind Trouva, instructing them to deposit amounts like R2,650 for verification purposes. Other victims reported varying amounts, such as R2,730, R2,280, and R3,050, adding to the confusion. These messages were sent from UK-based phone numbers, further reinforcing the elaborate deception.
The scam, which preyed on the trust of its victims, falsely claimed that these additional deposits were part of compliance measures to “flush out false accounts.” But as withdrawals became impossible, it became clear to many that they had been scammed.
Victims have since taken to social media to share their frustrations and …