The prestigious research firm Tulip Research announced yesterday on his twitter account, of a new report that alerts about a ponzi scheme with cryptocurrencies that has scammed the amount of USD 135 million to an undetermined number of people.
Nimbus Platform Ltd: $ 135,826,710
The current CEO is involved in numerous crypto scams.
Full report: https://t.co/gb2zLJHpbH pic.twitter.com/yQdwtesRRP
– Tulip Research (@TulipResearch) February 27, 2021
Nimbus Platform is the name of the company that the research firm accuses in its report of defrauding investors with at least 759 BTC, 61,335 ETH and about 12.1 million USDT, according to the publication.
The firm notes that the ponzi platform has used mixers mixers‘in transactions made with Bitcoin, “Something out of the ordinary in investment platform due to regulations and future audits”says the report.
Nimbus Platform registered in Malta, claims to be a cryptocurrency arbitrage company with its own algorithm, which offers a monthly ROI of 7-15%, as can be seen on its website.
As if that were not enough, and as he points out Tulip Research, The scam platform when observing that the payment of the offered percentages was unsustainable and in the face of the evident reduction in capital inflows due to the low interest of people in joining, created an internal token without any value support, to pay investors their returns.
The token, created internally on the platform and without any verifiable contract, was the NMBT Tokens, whose self-assigned value was the same as one dollar, according to the report.
Thus, Instead of obtaining dividends in cryptocurrencies, as was offered in the beginning, the platform rewarded their income with these fictitious tokens that cannot be exchanged for any particular asset.
Tulip Research is emphatic in pointing out that the creation of the fictitious token arises after the collapse of the entrance of people to the platform, which resulted in low liquidity with which to pay the monthly dividends offered in its initial ponzi scheme.
The report notes that the platform used the mixers to withdraw the 759 BTC in its bitcoin wallet, just 2 weeks after users will stop receiving the requested withdrawals, hinting that Nimbus paid the first investors with the money that came in from new investments by referred users, a requirement to be able to join the platform. Typical fraudulent pyramid scheme.
It also highlights that the company’s board of directors was led by former World Bank worker Andrea Zanon, who served as CEO of the company. Tulip Research notes that Zanon has been involved with the rest of the team, in numerous proven ponzi schemes, and that after announcing his departure from Nimbus, he deleted all traces of his social media accounts.
It is striking that CryptoValley announced the incorporation of Nimbus Platform to its cryptocurrency hub on December 29, 2020, a fact that after an alert call from Tulip Research, it was reversed to avoid being co-participants in the ongoing scam being run by the ponzi platform.
Although the CNMV, the Spanish regulatory body with respect to the Securities market, has issued an alert in this regard due to its lack of authorization to provide investment services, and not due to its involvement with cryptocurrencies, some users commented on the tweet of Tulip Research, that the governing body should be more alert to this type of scheme, that “put FUD on Bitcoin”.
Congratulations on your work, the social work you do is enormous. The @CNMV_MEDIOS It should take note and notify of all this type of beach bars and protect investors and not dedicate itself to putting FUD in terms of BTC.
– ailop (@airlopp) February 27, 2021
Ponzi schemes with cryptocurrencies do not stop appearing, which have evidently been in the ecosystem since its inception, especially seizing investments from users eager for easy wealth, a kind of underground philosophy that many outside the decentralized world consider possible, without having the real knowledge about the effort that it took for many crypto millionaires to achieve this status.