Hommam Al Nassim 
Digital platform “SGO CC” suddenly disappeared from the Egyptian scene, sparking a wave of anxiety among investors who suddenly lost their savings.
The platform, which first appeared in June 2023, began attracting hundreds of millions of pounds in deposits and bets from users within a short period.
Despite the platform’s strong promotion and marketing campaigns involving social media influencers and stars, the platform’s sudden disappearance has left many in a state of shock and financial loss.
SGO CC has started by introducing itself as a digital trading platform specializing in sports betting, but in a reversed style where users bet on the wrong result.
Despite raising millions of dollars from investors, the platform’s financial processes were opaque and full of fraud, as betting and deposits were carried out in fake ways that could not be traced.
Moreover, investigations revealed that the platform offered fake and small profits to investors with the aim of enhancing its credibility and attracting more funds, before it suddenly disappeared without any explanation or explanation.
Despite publicizing itself as an international platform operating in India since 2022, the truth has been the opposite, where investor confidence and their money have been illegally exploited.
Egyptian investors’ losses have exceeded hundreds of thousands of pounds, and despite attempts by some to go after those responsible for the platform, the way financial operations have been managed makes it difficult to identify and locate those responsible.
Egyptians’ remittances from Saudi Arabia and the United Arab Emirates tops the Arab remittances