The statement gave notice to all members of the immediate suspension of its account freezing process, 9 days earlier than initially scheduled (accounts were to be reopened on the 15th of September).
The statement read:
MAVRO FREEZING IS CANCELLED!05.09.2016
We are glad to inform you that from now on, all the types of Mavro freezing are COMPLETELY CANCELLED – both the freezing of bonus Mavro (except Registration Bonus and Bonus for Testimonial Video) and the freezing of the contribution itself! Your bonuses and contributions are available for withdrawal instantly upon confirmation.
Things are going so well in the System that there is no need in Mavro freezing any more.
Together we change the world!
The Reserve Bank of Zimbabwe issued a press statement warning the public not to get involved in schemes like MMM citing that in the case of loss of money, they had no legal precedence to assist affected members.
This was followed by a press statement from Econet’s EcoCash (mobile money) division effectively distancing themselves from MMM and any other illegal activities its users participate in.
The move by MMM East Africa has created a fair bit of panic and confusion within the MMM Global Zimbabwe ranks.
Unfreezing of accounts could lead to a chain reaction of panic withdrawals as MMM members continue to grow speculative and frustrated with the system.
Also, there have been reports that the exchange rate of Mavro-to-USD has been affected, changing from $1-to-1 Mavros to $1-to-5 Mavros.
Mavros is MMM’s digital currency (your Mavros are calculated
We suspect the change in exchange rate is meant to prevent people from withdrawing as they could face massive losses of up to 80%.
But on the other hand, the change in the exchange rate could be to lure in new members promising that the exchange rate will stabilize back to 1-to-1 by the 15th.
Some existing members are crying foul calling this drastic measure unethical as new members are being offered free money while they are stuck in the system due to their accounts losing 80% of its value.
An old member who put in $100 and got 100 Mavros is not the same as a new member putting in $20 and getting 100 Mavros.
An unverified MMM East Africa Administrator statement read as follows:
First of all, we inform you about the immediate release of Mavros bought till August 10. The situation has become more stable so there’s no need to wait till September 15 and we can release Mavros now.
However, as the participants aren’t calm completely the early release will surely lead to the sharp increase in withdrawals that will put additional load on the system. It should be clearly understood. So, it’s necessary to take some stabilization measures in order to reduce the load.
That’s why, the discount rate has applied for Mavros bought till August 10. What does it mean? It means after GH request the participant won’t get the whole amount but the amount with this discount.
For this moment, the discount rate is 20% (0.2). For example, if the participant withdraws 50 Mavro-USD he will get 10 USD.
Once again we remind you once that this measure is temporary and required by the current situation. The discount rate can be changed or cancelled at any moment. In other words, the participants have a choice to get help instantly and get it with the discount or wait till the discount is cancelled for receiving the full amount. It’s up to you! Probably, you should wait. However, take into consideration that the rate can even be decreased (if the number of requests to GH will increase significantly).
The discount isn’t applied for Mavros bought after August 10. So, keep calm, keep on participating, providing help and inviting new members to MMM!
MMM paid before, pays now and will pay in the future! Together we are changing the world!
With hope for understanding,
MMM East Africa Administration
We suspect that MMM unfroze accounts due to pressure, but found a loophole to keep people waiting.
September the 15th is still D-day for MMM Global Zimbabwe.
Signs of its collapse are becoming more evident by the day, as we await what could be the final nail in the coffin come 15 September.