From mortgaging homes to selling gold: How ‘Gold BS’ victims lost savings

Dozens of Afghans, including Sakina, have lost their life savings after investing in the online platform "Gold BS," which abruptly shut down, leaving investors in despair. The platform, which purported to generate profits through gold trading and digital asset investments, operated without an official license from Afghanistan's central bank.

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To invest in this platform, I mortgaged my house for 150,000 afghanis and opened several additional accounts. I even sold $3,000 worth of gold to put more money into the system, but now all of my investment is gone.

Sakina, a resident of Kabul, described mortgaging her home for 150,000 afghanis and selling $3,000 worth of gold jewelry to invest in "Gold BS." Initially encouraged by friends and receiving some returns, she increased her investment significantly. However, before she could see substantial profits, the platform ceased operations, resulting in the loss of her entire $6,000 investment. The shock of this loss led to a stroke, leaving her bedridden and deeply regretting her decision.

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Because I had already received about $1,000 from the platform, I believed it was genuine. That is why I increased my investment.

Najibullah, another victim from Kabul's Dasht-i-Barchi area, invested nearly 100,000 afghanis after being persuaded by friends who promised daily signals and quick returns, even without recruiting new members. Despite initial hesitation due to past negative experiences with similar schemes, he eventually invested. He, along with many relatives, lost their entire investments when the platform collapsed.

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When I realized I had lost $6,000, I fainted. I remained bedridden for an entire day, and while I was unconscious, doctors told my family that I had suffered a stroke.

These accounts highlight the devastating impact of fraudulent investment schemes on vulnerable populations. Investors were lured by promises of high returns and were often encouraged to recruit others, a common characteristic of Ponzi or pyramid schemes. The loss of assets has not only caused severe financial hardship but also significant physical and psychological trauma for many Afghans.

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May Gold BS be destroyed. It ruined the lives of hundreds of people like me.