Afriq JM Arbitrage System: Uncovering The Red Flags

by | Apr 20, 2023 | Ponzi/MLM, Reviews | 15 comments

If you are an online money hunter looking for ways to make the next quick buck, you probably know that arbitrage opportunities are one of them.

Luckily, arbitrage opportunities in the crypto and forex niches have become massively popular over the last few years.

The caveat, however, is that con artists have started taking advantage of this to rip off their victims.

Today, we will be focusing our review on Afriq Arbitrage, a crypto arbitrage platform that guarantees a monthly ROI of 63.5%.

Afriq Arbitrage has drawn so much popularity lately, and in this post, I shared some of my findings about whether it is legit or a scam.

Post Summary

What Is Afriq Arbitrage?

Afriq Arbitrage

Afriq JM Arbitrage (full name) is a platform that claims to offer investors a chance to make huge profits through crypto trading.

The platform, which also refers to itself as the “Ponzi Killer,” asserts that it achieves this through its automated arbitrage trading bot, designed to trade on behalf of investors 24/7.

Furthermore, the platform alleges that it runs a blockchain-based smart contract arbitrage trading system and that its liquidity is held in Binance.

The founder and CEO of the platform is Jesam Michael, a Nigerian entrepreneur who, according to his LinkedIn profile, possesses 15 years of expertise in crypto and forex.

While Afriq Arbitrage claims to be based in New Jersey, US, we cannot confirm the veracity of this claim, as we will discuss it in more detail later on.

Afrique claims that it can help investors achieve a 63.5% monthly ROI in a month, which sounds impressive, but there is a catch.

This relates to the operational procedures of the platform, which we will delve into below.

How Does The Platform Work?

As previously stated, Afrique Arbitrage maintains that it employs high-frequency trading bots to automatically buy cryptos at a lower price and sell them at a higher price to generate profit.

Moreover, the platform asserts that live trading takes place on the backend, implying that investors are unable to witness the live trading activity themselves.

It didn’t also disclose the exchanges that the bots leverage to execute arbitrage opportunities.

Now, the platform claims to generate money in two ways, namely:

  • Investment Plan
  • Referral Program

i. Investment Plan

Afriq Arbitrage offers a single investment plan, which costs $20.

To subscribe to this plan, prospective investors can either sign up directly on the platform’s website or use an affiliate link to register.

Afterwards, they deposit $20 worth of TRC-20 tokens into the address provided, while they sit back and earn rewards.

According to Afriq Arbitrage, their bots trade with user deposits and generate a daily ROI on their behalf.

Here is a breakdown of how the platform pays out this ROI to investors in the table below.

This means that, for example, you invested 100,000 NGN into Afriq Arbitrage.

You will earn 63500 NGN in ROI a month and 254000 NGN in ROI over four months.

That’s more than two times your capital! Too good to be true, right?

Well, I have a doubt about such a claim too. Read on!

ii. Referral Program

Members of Afriq Arbitrage receive a 5% referral commission.

The commission is solely based on direct referrals, meaning that there are no commissions for indirect referrals or spillover bonuses.

In my opinion, I think this referral commission is better compared to “Pay Peter to Rob Paul” or the binary tree structure typically employed by Ponzi schemes.

But that’s not to say that Afriq Arbitrage is genuine; I found some telltale signs that make me apprehensive about it, which I will share below.

Is Afriq Arbitrage Legit Or Scam?

These are a few of my concerns about Afriq Arbitrage.

i. Lack of transparency

Firstly, one of the biggest red flags about Afriq Arbitrage is its lack of transparency. 

The company claims that it is based and registered in the US, whereas its founder and all of its promoters reside in Nigeria and are Nigerians. LOL.

A book titled “How to Sell to Nigerians” by Akin Alabi suggests that one of the selling secrets is to associate a white man or country with your product.

I think this is likely the tactic employed by the founder to lure unsuspecting Nigerians.

In my opinion, the information about the company’s location is misleading unless they can provide certificates proving their registration and licencing in the US.

ii. Founder’s history

Based on the founder’s activities on Linkedin, it appears that he is a fan of Safemoon.

As you may be aware, Safemoon is a well-known cryptocurrency that has gained popularity as a meme coin.

But there are concerns among some that it may be a fraudulent or pyramid-scheme coin.

The reason is that the coin does not have any utility except for making money for early buyers while dumping on late investors.

I also found that COTP, a platform we uncovered in this post, and Daizy AI are some of the scam platforms that the founder has promoted in the past.

This gives me the impression that the founder has a penchant for Ponzi schemes.

iii. Liquidity held in Binance

Afriq Arbitrage claims it has its liquidity pool held in Binance but I am not certain if this true.

One of its promoters on Nairaland also made assertions that suggested that Binance acknowledges Afriq wallet addresses. See the screenshot below.

Afriq Arbitrage

Well, in the slide show below, you can see that a Binance customer service agent denied this claim.

You will also see a screenshot of a withdrawal attempt from Binance to Afriq, but regrettably, Afriq did not display as the promoter had described it.

The only conclusion I can draw from the liquidity pool claim is that Afriq Arbitrage is using a Binance address for its transactions. How deceptive!

iv. Unrealistic ROI

It’s clear that Afriq Arbitrage’s promise of high returns is too good to be true.

I mean, a 63.5% monthly ROI generated solely from crypto arbitrage is outrageous.

The reason is that not only is the crypto market very volatile, but it has also become very difficult to find highly profitable crypto arbitrage opportunities.

Furthermore, the platform claims to use sophisticated trading bots to identify arbitrage opportunities.

However, there is no evidence to support these claims; it does not provide any information about how their algorithms work or backtesting.

In other words, there is no way to verify how its mind-blowing ROI is generated.

v. High withdrawal limit

Afriq Arbitrage places its minimum withdrawal fee at $50.

I think the limit is not only too high and inconsiderate but can also be a red flag.

Firstly, it makes it overly burdensome for investors with small capital to withdraw their funds.

For example:

Let’s say you invested $20 in Afriq.

This means that every month you will make $12.7 in ROI (20 x 63.5%).

By the end of the four months, you would have made a total of $50.8.

In other words, you have to wait for as long as four months to make a withdrawal without touching your capital.

This can be a barrier if you are in dire need of money from your investment.

Additionally, a high minimum withdrawal limit could be a warning sign that a platform has liquidity issues and, as a result, is trying to slow withdrawals.

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One of its product offerings is “Auto Invest.”

The bot is programmed to use a USDT-cost averaging strategy to buy crypto at various intervals.

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There has been a surge in fraudulent websites posing as crypto arbitrage investment platforms.

If you choose to accept offers from such websites, then you do so at your own peril.

Afriq Arbitrage is similar to a website we recently uncovered in our Scam Unmask category.

Endeavour to do your own research before investing.

Tell me what you think about Afriq Arbirtrage in the comment section.

Share this post if you enjoyed it. Thank you!


  1. Ola

    Atueyi, at the end of the day, you were spot on.

    Jesam is an ambitious young man. I love him for that .

    But like you noted, he has promoted several Ponzi related coins like safemoon, Daisy AI, COTP, Tronforsage, ECC Coin, Panda Inu , Unknown coin and lately AfriqArbitrage.

    Any serious investor in cryptocurrency knows there is no system that can guarantee over 50% ROI Monthly.

    Some of us participated in it because our trapped funds from Our “unknown” coin investment were transferred into the AfriqArbitrage and we had to play along in order to minimise our risk.

    The AfriqArbitrage has a Telegram group where differing opinion results in being kicked out of the group.

    When I met Jesam, he appears a very hard working young man but his penchant for failed and Ponzi rented schemes gave me a different thought.

  2. Olayemi

    Afriq is definitely a scam. Red flags all around, very good research.

    Could you please research for us it seems to deal with Arbitrage, is it a scam too?

    • Chiamaka Atueyi

      Hello Olayemi, we will check it out.

  3. Amina Sule

    There’s a big issue already!
    How can a crypto currency platform be holding down people’s investments for over a month now and the 15th they mentioned was yesterday. Yet no explanation whatsoever for the countdown stoppage.

  4. Vee

    We came prepared. You watch the space. Jesam Michael is a LEADER.

    • Chiamaka Atueyi

      We are watching.

  5. Olusegun omotola

    Afriq Arbitrage are many so the information is real but the said afriq is not as same as the one I know as Jesam Michael is someone who is transparent and a God fearing man
    So stop missing things up
    Tell us the the Afriq Arbitrage you were referring to
    Or show your proof

    • Chiamaka Atueyi

      Hello Omotola,
      Thank you for taking the time to read through the post.
      This is the Jesam Michael and Afriq Arbitrage we are talking about.
      Can you share your own proof with us?

  6. JRA

    Your analysis is baseless. You are not a programmer go and do your research very well to get the real facts on how to discover a real and fake platform.

    • Chiamaka Atueyi

      Hello there,
      Thank you for reading through the post.
      A lecture or a point in the right direction on how to discover real and fake platforms will be greatly appreciated.
      We look forward to seeing that.

  7. Michael

    They have told you not to listen to naysayer I don’t know what you are doing on this page. The writer is mad!

    • Chiamaka Atueyi

      Hello Michael,
      Thank you for taking the time to read through the post.
      Kindly point out the part(s) of the post that made you think that the writer is mad so we can make corrections.
      We look forward to hearing from you.

  8. Ura

    Please what is happening to their site? It has been down for quite some weeks now.

  9. Pastorich

    Thank you for your candid review.
    My submissions: Please take more time to do a detailed review before making your conclusions and submissions. Jesam Michael is one of the most transparent CEO that I have ever came across in the crypto space.

    • Chiamaka Atueyi

      Hello Pastorich,
      Thank you for taking the time to read through and for your submission.
      Can you provide us with some proof to back up your claim?


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Paschaline Anagor
I am a passionate crypto enthusiast with over three years of experience in the crypto world. Sharing insights on crypto trading, Web3, DeFi, NFTs, and the latest crypto news. Subscribe to the blog to explore the world of digital currencies!