Arkbit has received a securities fraud cease and desist from the Arkansas Securities Department (ASD).

As per the ASD’s June 1st order, an investigation into Arkbit Capital LLC, BeefyBit Capital LLC and NanoX Invest LLC has revealed the entities have

violated provisions of the Arkansas Securities Act.

In other words, Arkbit is committing securities fraud.

BehindMLM reviewed Arkbit in January 2023. It’s a pretty bog-standard Boris CEO Ponzi, fronted by “Thomas Brewer”.

Brewer doesn’t exist and is played by US actor Mike Wolfe.

Back in January Arkbit operated from a .COM domain. ASD’s order notes at some point Arkbit moved to a .IO domain.

As at the time of publication, both domains are non-functional.

ASD claims that upon investigating Arkbit, they discovered to clone Ponzi schemes; BeefyBit and NanoX. BehindMLM has not reviewed either of these schemes.

Note that neither BeefyBit’s or NanoX’s respective websites are available either.

Having determined Arkbit, BeefyBit and NanoX are all committing securities fraud, ASD has ordered them to “immediately cease and desist … from perpetrating securities fraud”.

If you’re wondering why BehindMLM is covering an order issued almost six months ago, it’s because we only learnt of it earlier today.

ASD cited the Arkbit order in a November 22nd cease and desist order targeting GSPartners.

Coincidentally, on October 18, 2023, while viewing a GSPartners Facebook page during the pendency of this investigation, Staff discovered an Arkbit promotion post created by GS Partners.

Staff has not found a connection between the (GSPartners) Respondents and Arkbit, other than GS Partners’ direct promotion of this fraudulent enterprise on FaceBook.

Staff is [sic] highly concerned that Arkbit (is) connected to the (GSPartners) Respondents and that the Respondents are attempting to continue to perpetuate fraud through Arkbit or assist Arbit in perpetuating fraud on Arkansas investors.

I believe the cited promotion was from a post made to a public GSPartners FaceBook page. There doesn’t appear to be any direct link between the two Ponzi schemes.


Update 8th January 2024 – Arkbit Capital has been rebooted as ABC Holdings.