Crypto 888 Club collapses for fourth time, reboots as Nano Crowd
Since BehindMLM published an article covering Nano Club’s launch just over a year ago, investors have been desperate to convince us that the third reboot of Crypto 888 Club would succeed.
To date the article has garnered over 750 comments, mostly back and forth between the “this time…” and “history will repeat itself…” crowds.
Turns out history won, with Nano Club officially collapsing sometime over the past week.
Nano Club launched as a reboot of Octa Partners, which itself was a reboot of Crypto 888 Club.
The modus operandi of the scammers behind Crypto 888 Club has been to launch a worthless altcoin, promote them as Ponzi points and then when the inevitable collapse hits, reboot with a new worthless altcoin.
So far we’ve had OctaCoin, NanoCoin and now with the fourth reboot, Ormeus Coin.
A visit to the Nano Club website today reveals a logo change to “Nano Crowd”. Other than a login form though, no other information is provided.
On November 16th information surfaced confirming Nano Club’s collapse.
According to a webinar held last week, future Nano Club earnings will be paid in coins.
NanoCoin balances will be converted to Ormeus Coin, with a 10% bonus on converted amounts (although the converted Ormeus Coins will be locked for a year).
Ormeus Coin is a yet to be launched cryptocurrency attached to Ormeus Global.
Ormeus Global went into prelaunch around June and offers affiliates a 160% passive ROI.
Despite claiming to legitimately derive ROI revenue from robo-trading, Ormeus Global advise their MLM opportunity “not available in the United States”.
This appears to be pseudo-compliance nonsense, with Alexa estimating the US is currently the largest source of traffic to the Ormeus Global website (40%).
Neither Ormeus Global or Nano Crowd are registered with the SEC, meaning the companies are offering unregistered securities to US residents.
Worse still, when coupled with a lack of evidence supporting robo-trading funding affiliate ROI payouts, it’s highly likely Ormeus Global are operating as a Ponzi scheme.
Ormeus Coin meanwhile appears to be yet another worthless MLM altcoin that serves no purpose.
Launched in early October, Ormeus Coin is currently in the “pump” stage and trading between Ormeus Global affiliates at $4.28.
Once the initial launch and mandatory merging of Nano Club affiliates into Ormeus Global is over (dumping premined coins onto affiliates creates the illusion of trading activity), like Nano Coin the public value of Ormeus Coin will plummet.
The partnership with Nano Club suggests Nano Club’s owner(s) might have sold the affiliate-base to Ormeus Global, however confirmation has yet to surface.
What we do no is that without any legitimate use, Ormeus Coin will eventually flop just as Nano Coin and Octa Coin before it did.
It’s the third generation of an altcoin Ponzi, now bogged down with even more desperate investors than ever.
Considering the set up of Ormeus Global is just as shady as that of Nano Club, history will no doubt repeat itself again.
Unfortunately for Nano Coin affiliates, they have neither a say or choice in the matter.
While I sympathize with Nano Club investors who are only now realizing they’ve been scammed, here’s hoping we don’t have to endure another 750+ comments from affiliates still in denial.