CubeBit rebooting for a third time?
CubeBit appears to be gearing up for a third reboot of its Ponzi scheme.
Well, they’re trying to anyway.
A reader reached out a few weeks back to let me know of CubeBit relaunching.
BehindMLM previously reviewed CubeBit in October 2020, that itself being the second “2.0” version of Romel Gumiran’s failed Nexus Chain venture.
CubeBit is still going by CubeBit 2.0, however in late February the company announced a “grand virtual launch” event.
Footage of the event was uploaded to CubeBit’s official Facebook account, providing us insight into what the Ponzi scheme has planned next.
An opening slide reveals CubeBit’s CubeBot Ponzi scheme is still intact:
Added to the Ponzi bot is a bunch of marketing fluff nobody cares about – and which we already knew about as per our October 2020 review.
So why the relaunch?
In a nutshell CubeBot scamming is being changed from ethereum to Binance Chain.
And… *collective groan* …CubeBit is jumping on the DeFi shitfuckery bandwagon.
CubeBit’s descent into DeFi is branded FinCube.
*SUICIDE TRIGGER WARNING*
FinCube is an extensive financial ecosystem, incorporated to handle the financial & research wing of CubeBit.
It comes with an exclusive range of math incorporated products that work towards the development of robust materials that can revolutionize the way value flows in the past.
CubeBit will run a blockchain script from somewhere, promise apps on their blockchain etc. By now you know the deal.
It’s just basically an excuse to launch shitcoins, each giving CubeBit an out when the time comes to exit-scam.
The first shitcoin will be CubeCoin, converted from the previously launched ERC-20 shit token.
All this takes place on Cubex, CubeBit’s in-house internal exchange.
One lie I’ll call CubeBit out on is their claim regarding “banking licenses from the SEC”.
As above, CubeBit claims it
has processed it’s [sic] banking licenses from the SEC to operate as a money service provider across the globe.
Just so there’s no confusion, later in the presentation Rommel Gumiran confirms this is in reference to the US SEC.
A quick search of the SEC’s Edgar database reveals that, as of March 31st, neither CubeBit or CubePay are registered.
Since launch last year, CubeBit has not registered with securities regulators in any jurisdiction.
Registering with the SEC would require CubeBit to disclose its AdCube trading bot Ponzi scheme.
CubeBit would also be required to file periodic audited financial reports, which they won’t do because it’s a Ponzi scheme.
Outside of the fake SEC registration claim, CubeBit’s DeFi relaunch is both unsurprising and unremarkable.
I probably would have skipped over it altogether (adding an ETH –> Binance Chain note to the original review would have taken 2 minutes), save for the fact I began receiving suspect emails over the past few weeks.
Coinciding with requests to revisit CubeBit from readers, I was contacted by former CubeBit Boris CEO Konstantin Janke.
Janke wrote to me on March 16th to advise;
I’m not part of cubebit 2.0 since February 2021 anymore and I’m not in any way affiliated to the company from that month.
Janke also asked that I remove his name from our CubeBit review, which I declined. I did however make a note he’d left the company.
CubeBit announced Janke’s resignation on their official Facebook page on March 15th.
A week later on March 23rd JoJo Tan, a CubeBit “US Founding Member”, sent me an email.
I worked the mlm side of it just like everyone else but was never connected in any capacity, form, or shape as a founding member nor ambassador.
That title was put out on the flyer in a few occassions [sic] that I was invited to present via zoom webinar, together with Sherman Sager and Joe Bedore.
These two gentlemen, like myself, are also just affiliates and not founding members nor ambassadors.
Hardly convinced, I pushed back on Tan’s claims;
That slide is an official CubeBit marketing slide published by CubeBit’s own global Ambassador, who you had no problem attending official company events with.
If you had a problem with being referred to as a US founding member of Cubebit you’d have objected prior to regulators taking action.
Please don’t waste my time.
Tan informed me I’d likely be hearing from Sager and Bedore in the future.
Sure enough later that same day I received an email from Bedore;
I am mentioned as a US Founding Member. This was an honorary title given to a person, like myself, who joined Cubebit 2.0 early in each country, as a Prestige Member.
I was invited to join in on presentations in the US, along with some of the other names mentioned in your review.
We used information that was provided by Cubebit 2.0.
The information included copies of registrations in in Delaware USA, that gave me the belief that they were legit in the USA.
I joined as an MLM affiliate just like any other MLM. I am not an owner, a founder, or an employee of Cubebit 2.0.
I have no insight or control in the operations of Cubebit2.0. I was not paid to participate in any of the zoom meetings.
I am pointing this out to help clear my name. I would never be involved in any MLM that I did not think was on the level.
I have stopped my involvement in Cubebit 2.0, I hope they are able to prove themselves in time.
Yeah, something fishy is going on here.
I haven’t heard anything back from Bedore but Tan replied on March 27th asking if I’d consider adding a note to our CubeBit review as I’d done for Janke.
I suppose I’m doing that here.
In his last email Tan claimed;
Sherman Sager and myself have never been involved in corporate level as much as Kons.
We are simply members that became victims as well.
I’ve pushed back on this claim asking for confirmation that Tan did in fact lose money in CubeBit.
We’re all familiar with net-winners of Ponzi schemes who invest $100, reinvest their monopoly money returns, make and withdraw $100,000s in referral commissions and then claim to be victims.
I’ll publish an update if/when Tan gets back to me.
In the meantime there’s probably something to Janke, Tan and Bedore all of a sudden wanting their names disassociated with CubeBit.
If there is something going on behind the scenes, neither of them disclosed it to me.
The take-away from all of this is, as written in our original CubeBit review, for all intents and purposes Romel Gumiran appears to be running the company.
Reading between the lines, CubeBit is an in-house use-case for Romel Gumiran’s flopped Nexus Chain venture.
As per Nexus Chain’s website (“nexuschain.net”), the company provides “offshore company registration” and “premium MLM solution(s)”. Basically your typical “scam in a box” outfit.
Nexus Chain currently has an Alexa website ranking of over 4 million, which for an active business is as good as dead.
And so we have CubeBit Tech. As stated in the introduction of this review, whether Gumiran is working alone or with others from NexusChain is unclear.
Regarding company ownership, nothing appears to have changed with CubeBit’s DeFi reboot.