NexusICO Review: NICO token Boris CEO Ponzi scheme
NexusICO operates in the cryptocurrency MLM niche.
NexusICO’s website domain (“nexusico.com”), was privately registered in October 2019.
The company provides three corporate addresses on its website, in Seychelles, the UK and US. None of these appear to be addresses that have anything to do with NexusICO.
Heading up NexusICO is this “crew of professionals”:
None of these people exist outside of NexusICO marketing. This makes “Geri Smoll” a prime Boris CEO candidate.
The actor playing Smoll appears in NexusICO marketing videos, however nothing recent (NexusICO stopped uploaded videos to its YouTube channel in June 2021).
At a Boris CEO ceremony marking NexusICO’s first year anniversary (June 2021), the actor playing Smol gave a speech. From this we learn he has what appears to be a Central or South American accent.
The rest of NexusICO’s “professional crew” don’t appear to be in attendance, suggesting the other actors have moved on.
In an attempt to appear legitimate, NexusICO offers up this nonsense in their FAQ;
With the rise in Cryptocurrency scams, it is natural for the user to mistrust new Companies.
NexusICO Capital LLC is a subsidiary of Nexus Group and is formed with experts in the ICO and Blockchain space.
The Company is registered with the Companies House, UK, and the excerpt of the Registration Certificate is attached for everyone to check and verify.
We are not just entitled to the UK registrar but with multiple countries as our sub-branches legally.
Our director’s identity and company office addresses are proof verified by regulatory authorities which resulted in NexusICO to operate worldwide.
This is meaningless waffle. Basic incorporation, especially in the UK, is meaningless. Scammers incorporate shell companies with bogus information with relative ease.
Take NexusICO’s revoked “Nexus ICO LLC” shell incorporation in Arkansas:
None of that submitted information is legitimate.
The strongest hint we get of where NexusICO is being run out of is their official FaceBook page. It is being managed from India and Pakistan.
As opposed to Seychelles, the UK or the US, it is highly likely NexusICO is being run from India and/or Pakistan.
SimilarWeb reports top sources of traffic to NexusICO’s website as Italy (50%), Ghana (34%, down 89% month on month) and Indonesia (16%).
As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.
NexusICO has no retailable products or services.
Affiliates are only able to market NexusICO affiliate membership itself.
NexusICO’s Compensation Plan
NexusICO affiliates invest cryptocurrency USD equivalents on the promise of advertised returns:
- Nico Starer – invest $50 to $4999 and receive 300% over 365 days
- Nico Pro – invest $5000 to $49,999 and receive 400% over 365 days
- Nico Premium – invest $50,000 to $100,000 and receive 500% over 365 days
Returns are paid in NICO token, an internal shit token that has no value outside of of NexusICO.
50% of returns are paid into “NICO Wallet”, which can be withdrawn from once weekly with a 5% fee.
The other 50% is paid into “NICO Plus Wallet”. This balance can only be withdrawn at the end of the 365 day ROI period.
MLM commissions are paid into a “Business Wallet”, which can be withdrawn from daily for a 7% fee.
The MLM side of NexusICO pays on recruitment of affiliate investors.
NexusICO pays referral commissions via a unilevel compensation structure.
A unilevel compensation structure places an affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them (level 1):
If any level 1 affiliates recruit new affiliates, they are placed on level 2 of the original affiliate’s unilevel team.
If any level 2 affiliates recruit new affiliates, they are placed on level 3 and so on and so forth down a theoretical infinite number of levels.
NexusICO caps payable unilevel team levels at five.
Referral commissions are paid as a percentage of funds invested across these five levels as follows:
- Nico Starter tier affiliates earn 7% on level 1 (personally recruited affiliates), 2% on level 2, 1.5% on level 3, 1% on level 4 and 0.5% on level 5
- Nico Pro tier affiliates earn 8% on level 1, 2% on level 2, 1.5% on level 3, 1% on level 4 and 0.5% on level 5
- Nico Premium tier affiliates earn 9% on level 1, 2% on level 2, 1.5% on level 3, 1% on level 4 and 0.5% on level 5
NexusICO pays residual commissions via a binary compensation structure.
A binary compensation structure places an affiliate at the top of a binary team, split into two sides (left and right):
The first level of the binary team houses two positions. The second level of the binary team is generated by splitting these first two positions into another two positions each (4 positions).
Subsequent levels of the binary team are generated as required, with each new level housing twice as many positions as the previous level.
Positions in the binary team are filled via direct and indirect recruitment of affiliates. Note there is no limit to how deep a binary team can grow.
At the end of each day NexusICO tallies up new investment volume on both sides of the binary team.
Affiliates are paid 7% of funds invested on their weaker binary team side, capped based on how much they’ve invested:
- Nico Starter tier affiliates can earn up to $1000 a day
- Nico Pro tire affiliates can earn up to $2500 a day
- Nico Premium tier affiliates can earn up to $6000 a day
Once paid out on, volume is matched against the stronger binary team side and flushed.
Any leftover strong binary team side volume carries over.
NexusICO affiliate membership is free.
Full participation in the attached income opportunity requires an initial $50 to $100,000 investment.
NexusICO solicits investment in bitcoin, litecoin, bitcoin cash and ethereum.
NexusICO represents it generates external revenue via ICO pump and dump scamming and other ventures:
NexusICO’s invests in wide range of ICOs across different domains, which are determined to maximize returns for investors.
No evident of NexusICO being active in any external revenue generation is provided.
Furthermore while the company makes a big deal about its shell company incorporations, NexusICO fails to provide evidence of regulatory registration that actually matters.
NexusICO’s passive investment opportunity constitutes a securities offering.
In order to operate legally, NexusICO needs to register with financial regulators. NexusICO fails to provide evidence it has registered with financial regulators in any jurisdiction.
This means that, at a minimum, NexusICO is committing securities fraud.
The only reason MLM companies opt to commit securities fraud, is because they aren’t doing what they claim to be doing.
As it stands the only verifiable source of revenue entering NexusICO is new investment. Using new investment to pay returns makes NexusICO a Ponzi scheme.
As with all MLM Ponzi schemes, once affiliate recruitment dries up so too will new investment.
This will starve NexusICO affiliates of ROI revenue, eventually prompting a collapse.
The math behind Ponzi schemes guarantees that when they collapse, the majority of participants lose money.
NexusICO’s marketing material suggests they are running their Ponzi scheme through CoinPayments:
NexusICO’s use of NICO token will maximize investor losses. NICO is worthless outside of NexusICO.
Returns and commissions are paid in NICO, which the company will convert internally as long as the Ponzi runs.
When the time comes to exit-scam, investors will be left bagholding worthless NICO they can’t do anything with.
This is your classic Ponzi points exit-scam model.
Update 28th April 2023 – NexusICO has collapsed.