Nimbus Platform Review: NMBT Ponzi points
Nimbus Platform operates in the cryptocurrency MLM niche. Heading up the company is CEO Andrea Zanon.
Zanon’s LinkedIn profile is linked to from Nimbus Platform’s website. Curiously, Nimbus Platform is not featured on Zanon’s profile.
In an official Nimbus Platform marketing video featuring Zanon, he claims to be a “global financial executive with twenty years experience”.
Zanon goes on to state he is from Italy, however he typically lives between the US, Latin America and the Middle East.
The backdrop of the video linked above could be Italy but I’m not sure.
On its website Nimbus Platform provides what appears to be an incomplete corporate address in Malta.
Any ties Nimbus Platform has to Malta are assumed to be on paper only (shell companies for banking etc.).
As far as I can tell Nimbus Platform is Andrea Zanon’s first MLM venture as an executive.
Update 24th September 2020 – Nimbus Platform has been in touch to advise earlier this month they appointed a new CEO on September 7th.
According to his LinkedIn profile, Fernando Martinho is based out of the UK.
Martinho doesn’t appear to have an MLM history but is the co-founder and CTO of Naoris.
Naoris was launched in 2018 and markets itself as “the world’s 1st cybersecurity blockchain-based ecosystem”.
Naoris’ Alexa web traffic ranking is currently over 1.8 million, suggesting the company failed to gain traction.
As per a press-release put out by “Nimbus Community” on September 9th, Andrea Zanon is still working at Nimbus.
Since Andrea’s interests and expertise lay in traditional finance and the banking industry, he is moving up to a higher global regulated phase.
He will develop our new products that we will soon present to you all!
/end update
Read on for a full review of Nimbus Platform’s MLM opportunity.
Nimbus Platform’s Products
Nimbus Platform has no retailable products or services, with affiliates only able to market Nimbus Platform affiliate membership itself.
Nimbus Platform’s Compensation Plan
Nimbus Platform invest in NMBT points at a rate of $1 to 1 NMBT.
Once acquired, NMBT is parked with Nimbus funds on the promise of advertised returns.
- invest $350 to $1000 in NMBT and receive 0.25% a day
- invest $1001 to $5000 in NMBT and receive 0.3% a day
- invest $5001 to $30,000 in NMBT and receive 0.4% a day
- invest $30,001 or more in NMBT and receive 0.5% a day
ROI Residual Commissions
Nimbus Platform pays residual 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.
Nimbus Platform caps payable unilevel team levels at twenty-five.
Residual commissions are paid as a percentage of returns paid to downline affiliates across these twenty-five levels as follows:
- level 1 – 50% (personally recruited affiliates)
- level 2 – 25%
- level 3 – 20%
- level 4 – 15%
- level 5 – 14%
- level 6 – 13%
- level 7 – 12%
- level 8 – 11%
- level 9 – 10%
- level 10 – 9%
- level 11 – 8%
- level 12 – 7%
- level 13 – 6%
- level 14 – 5%
- level 15 – 4%
- level 16 – 3%
- levels 17 to 20 – 2%
- levels 21 to 25 – 1%
Note that residual commissions are paid in NMBT.
Joining Nimbus Platform
Nimbus Platform affiliate membership is free.
Full participation in the attached income opportunity requires a minimum $350 investment in NMBT.
Conclusion
Nimbus Platform markets itself as a “fintech crowdfunding platform”. In reality it’s a simple Ponzi points scheme.
NMBT are tokens Nimbus Platform generates on demand at little to no cost. This is why the company is able to pay a 225% residual commission match on returns.
This is in addition to the advertised returns, which together with residual commissions is numbers on a screen until a withdrawal request is put in.
Nimbus Platform claims to generate external revenue through Avalon App.
Nimbus returns are provided by Avalon, a proprietary inter-exchange arbitrage trading algorithm.
There is no evidence Avalon App exists or is engaged in arbitrage trading.
More importantly, there’s no evidence of Nimbus Platform using external revenue of any kind to pay affiliate withdrawal requests.
This is typical of Ponzi points schemes.
By providing passive returns, Nimbus Platform’s MLM opportunity constitutes a securities offering.
In order to operate legally, Nimbus Platform has to register with financial regulators in every jurisdiction it solicits investment in.
At the time of publication, Alexa ranks Spain (22%), Switzerland (13%) and Mexico (13%) as the top three sources of traffic to Nimbus Platform’s website.
Nimbus Platform provides no evidence it has registered with securities regulators in any jurisdiction.
Thus at a minimum, Nimbus Platform is committing securities fraud and operating illegally.
In order to prove external revenue was being used to pay withdrawal requests, Nimbus Platform is legally required to provide the public, investors and financial regulators with audited financial reports.
These reports are the only verifiable evidence Nimbus Platform is engaged in trading, and using trading revenue to pay withdrawal requests.
On his LinkedIn profile Andrea Zanon cites himself as an “investment banker”. This suggests some awareness of securities law.
So why would someone with a background in finance opt to run an illegal investment scheme?
As with all Ponzi points schemes, Nimbus Platform isn’t doing what it says it is.
New investors sign up to Nimbus Platform and invest in NMBT points. The company takes in real money ($1 = 1 NMBT) and uses generated NMBT points to pay returns and matching bonus on paid returns.
Withdrawal requests are placed through Nimbus Platform’s internal exchange. Nimbus Platform honors these requests with invested funds.
There is no other verifiable source of revenue entering Nimbus Platform to pay returns with.
This satisfies the Ponzi element of the business model and goes hand in hand with securities fraud.
For those familiar with the MLM crypto space, Nimbus Platform is essentially a clone of BitConnect. You can read up on how that turned out.
Nimbus Platform isn’t any different. Once affiliate recruitment dries up so too will new investment.
This will leave Nimbus Platform unable to pay withdrawal requests, eventually prompting a collapse.
The math behind Ponzi schemes guarantees that when they collapse, the majority of participants lose money.
Update 11th October 2020 – The referenced marketing video featuring Andrea Zanon has been deleted from Nimbus Platform’s official YouTube channel.
Update 16th February 2021 – At the request of readers in the comments below, BehindMLM revisited Nimbus Platform and has published an updated review.
Update 9th January 2023 – Nimbus Platform has collapsed for a second time. A third reboot has been launched with NIMB and GNIMB tokens.
But Oz, this guy was lucky enough to be an advisor to President Clinton! There’s a picture of him standing next to Clinton and everything! What more proof do you need? (That was sarcasm, folks. Anyone can get a picture taken of themselves standing next to a politician at some fundraiser or publicity function. It proves nothing.)
The video froze a little more than two minutes in and didn’t restart until two minutes later. Very professional.
If I were PassingBy, I’d be able to figure out where the video was shot by analyzing the reflection in the window of someone walking by at 1:11. But alas, I’m a mere mortal, so I remain clueless.
I was going to mention the video freeze but left it as an Easter egg. You win!
There is something very strange going on here with what one can see through the windows.
At the start, and for most of the video including the big freeze, it is very definitely Madrid. The very distinctive art deco building with the Vodafone and Schweppes signs on it is the Edificio Carrión (es.wikipedia.org/wiki/Edificio_Carrión), and the little cupola with the bird figure on top, which we see from the back, puts us on the roof of the building at no. 32 Calle Gran Via.
Although that makes it a bit of mystery to me inside what structure we are, there doesn’t seem to be anything matching the interior we see on top of that building.
But then in a slightly different camera angle, which they switch to at 0:27 for instance, those two buildings are gone completely, and there’s an entirely different skyline. Which looks like it could also be Madrid, but facing an entirely different direction.
The windows are definitely real, though, there are lots of reflections. So my guess is a green screen set up behind real glass, and they messed up by using different sections of the same background recording.
With the side of his face clearly being hit with sunlight, Imma hafta go with multiple takes in front of different views of actual outdoors. But I’ve wasted far more time than this scam deserves and theoretically have a life, so don’t really care.
Good job on identifying Madrid, though PassingBy. I knew you’d come through for us!
Sometimes I think the scammers make these mistakes, inconsistencies , “actor Boris the CEO impression” and other nonsense in their presentations intentionally, on purpose.
A kind of “wink, wink, nudge, nudge, this is not real, this is a scam” to eliminate smarter audience. Just like terrible English in scams with “Nigerian letters”.
Aaargh, let’s not run the “stupid filter” debate again, I’ve only just recovered from the trauma of having to reject a long-held belief.
Almost no-one except PassingBy spots the continuity errors, and they are spending quite a lot of time carefully watching a video that they know is a scam, just for the amusement of themself and others.
The videos are targeted at stupid people and made by stupid people, but that’s not the same thing as deliberately trying to put off intelligent people.
This guy is apparently showing how the bot works in real time.
True or false?
youtube.com/watch?v=_-1ZpgToqd8
True in that your seeing some guy’s computer screen with numbers all over it.
Irrelevant in determining whether Nimbus Platform is using external revenue to pay withdrawal requests.
If an MLM company has to trot out social media marketing in place of legally required audited financial reports, they aren’t doing what they claim to be.
Maybe someone should ask why the CEO was fired from all the previous projects, right?
Tal vez alguien debería preguntar por qué el CEO fue despedido de todos los proyectos anteriores, ¿no?
If you look at the other videos this guy has put up, you’ll see he does the same thing for ArbiStar. And Kuailian. And Mind Capital. Plus several other get-rick-quick schemes whose names I don’t recognize.
So answer your own question. If your answer is “true”, I’d suggest, to make the choice simple, going for the alphabetically first of the many schemes he’s selling, and putting all your money in ArbiStar.
Review updated to include appointment of Nimbus Platform’s new CEO, Fernando Martinho.
I thought it might be useful to document this new person and his previous venture a bit, in case we hear more of him.
It’s hard not to come to the conclusion that Fernando Martinho was looking for a new job, after the Naoris scam, which he joined in 2018, seems to have fizzled out without ever getting anywhere.
It’s quite clearly a scam, the most polite description one could apply to it is that they’re peddling vaporware.
They pretend to sell a magical, all-encompassing “cybersecurity platform”, which can protect all computer systems, regardless of what operating system or other software they use (it’s “agnostic” about such piddling technical details, they stress that repeatedly), against all possible baddies out there, through the magic of a “self-healing” blockchain.
They’ve put together a 50 page sales brochure (which of course they call a “white paper”) about it, which seems to have vanished from their website but which, for some reason, they themselves seem to have uploaded to archive.org (archive.org/details/whitepaper-en-1528889613).
One can’t blame them for effort: it’s the most sustained effort at producing completely contentless blockchain buzzword bingo technobabble I have ever seen.
They’ve even achieved something pretty rare: internet-unique nonsense phraseology. When one puts the phrase “Decentralized Identity Validation Authority” (DIVA, one of the crucial innovations of their magical blockchain) into Google, it yields exactly one search result: the white paper itself.
The few instance were they make the mistake of straying into slightly specific stuff, it’s quite hilarious as well.
For instance, one wonderful aspect of their magical blockchain will be: they’ll make backups. Yes, just in case the bad guys manage to do something really, really bad to it, regardless of its bulletproof allround security magic, they will regularly make a backup copy of the entire blockchain, onto one or more other blockchains. Truly, a breakthrough concept in data security.
Also, for the first time ever, thanks to their blockchain it will be possible to assign users to things they call “groups”, which can have different access privileges. Again, a revolutionary new concept in computer security there.
And all of that innovation is patented, too!
But exactly what information is to be kept on this blockchain, how it will interact with the systems it’s protecting (or even against what it’s supposed to be protecting them), and how it will “validate” anyone’s identity, remains a complete mystery.
Except that there definitely will be “clever contracts” running on it. Which I am sure is another breakthrough new concept, and not just the result of someone who doesn’t know what the hell they’re on about misremembering the term “smart contract”.
Instead of raising money for this project in a normal way, they were going to start by selling an ERC-20 token.
That token definitely exists:
etherscan.io/token/0x1ab9570281c7b3ceec24524d4fd7d94a8fe1a8c8
They made 320 million of them, in 2018. There have been a total of 10 transactions since then, the last one over a year ago, resulting in just 4 addresses holding tokens, one of them having 99.82%.
At some stage, those ERC-20 tokens would be exchanged for a second token of their own, one that lives on their own blockchain (besides all the self-healing security stuff and the clever contracts), which from then on one could also buy on an “open market”.
Those tokens would then become the only way to pay for access to all the magic. Because that’s all so much simpler than using money.
None of that seems to have happened, which could explain the apparent disappearance of the white paper from their own site (if it’s still there, I haven’t spotted it, and the link to it on other sites is dead).
Contrasting their claims that they’re “set to completely revolutionize the soon to be $1 trillion dollar cybersecurity space through the application of blockchain technology” (white paper, p. 47), with the sad corporate reality shown by their Companies House filings (yes, to nobody’s surprise they’re incorporated in the UK), is also amusing.
Here are some bits from a pseudo-interview with Fernando Martinho (humansofbc.com/interview-with-the-founder-of-naoris-cyber-blockchain-fernando-martinho/), from 2018:
That’s not true for starters. The company was founded by two other people, David Carvalho and Monika Oravcova, as 50/50 shareholders and director, with a capital of £100. Martinho didn’t join them as a director until December 2018, and became a shareholder (for 25%, with Oravcova giving up 25%) in early 2019.
At the same time, the capital was raised to a whopping £1,000.
Yeah, right. A company with nobody working for it except the 3 nobodies who are its owners/directors, which has only ever filed annual accounts as a micro-entity, twice (which not to put too fine a point on it means it has as good as no turnover and as good as no assets), was immediately hobnobbing with organisations like those.
Plus, there’s those regular backups of the whole blockchain, just in case!
With their entire workforce of three concentrated in just two locations, one hopes the offices didn’t get too crowded. But there’ll be a bit more breathing space now that Mr. Martinho has left for Nimbus, and they’re down to two.
(The nonsense doesn’t stop there, this Naoris sham is also being pushed by at least one different corporate front, the “Global Consortium Corporation” (blocksecurityservices.com) – another UK Limited company set up in 2018, with a capital of £100, by two other shady characters. But let’s leave it there.)
I think we can look forward to great things for Nimbus, with this new man at the helm.
If you’re not careful you’re going to scare this guy off too!
Nimbus execute exit-scam, after 2 month with operations problems.
You should do another rewiew on this platform.. Things changed and we need your input.
What changed after the collapse?
I visited Nimbus Platform’s website and they’re now pushing NBU.
Same Ponzi scheme, rebooted token script? Or have there been actual changes?
edit: I see the comp plan has changed. I’ve added Nimbus Platform to the review list.
Wonder why Coinmarketcap would give the company a solid review.
I have said “No” to Nimbus, because daily ROI´s of 3% is not possible and the money for commissions can only come from new members entering the business.
But very strange that Coinmarketcap does not dig a bit deeper but instead the website labels Nimbus as a legit company and the future in Defi. That will only make more people jump onboard 🙁
You can’t provide a solid review without doing actual due-diligence.
CMC reviews are based on money.
After the ponzy scheme they had to gather the money (Crowdfunding) they stopped everything and they start a DeFi project.
Is not fully operational yet but they saying they will… I guess will see..
There are clues that Nimbus moved 1500+ BTC to an undisclosed wallet right before freezing investments in October 2020.
Nobody is able to convert their shitcoin into real crypto or get it out.
They may be preparing an exitscam; would be good if you could check it again.
Check what? Sounds like you’ve already been exit-scammed.
DO NOT TRUST THEM. SCAM.
I invested in the old nimbus app, where they were getting BTC or ETH or UDS to start investing with them.
Now they turned my ETH and BTC into their assets GNBU (which obviously the token value is far far away from current market price BTC – ETH).
Inside their group you can’t mention the old platform otherwise you get banned. What kind of service is this?
STAY AWAY FROM THEM AND OPEN YOUR EYES. DO NOT TRUST THEM.
If you dig on this you will find out the thruth, there are thousand of people in the same situation.