3) Blessing Loom
Similar to the eight-ball model, the Blessing Loom tricks one person by claiming to turn $100 into $800. This scheme flattens the pyramid into a circle, hence the “Loom” in the name.
Each participant needs to recruit 2 people without providing them with any service or product. The scam became viral in April 2020 during the COVID-19 pandemic. The Blessing Loom scheme is illegal in multiple US cities.
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