Overview
A new multi-level marketing (MLM) initiative, Nexus Global, has emerged, spearheaded by Christian Michel SCHEIBENER, known for his previous involvement with the crypto-MLM platform OMNIA. This venture appears to be closely associated with Veltyco Group and Cointed, raising questions about its structure and transparency. Nexus Global has already garnered attention through online communities, including active promotion in dedicated groups such as this Facebook group.
Key Associations and Observations
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Insider Information: Credible sources suggest that Nexus Global’s proposed “Crypto MultiWallet” is being developed in collaboration with Cointed.
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Website Similarities: The domains www.8crypt.com and www.8crypt.de exhibit identical menus and text modules, indicating a direct connection between 8Crypt and Nexus Global.
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Branding Inconsistencies: Notable errors, such as the phrase “we has a business model” on the www.8crypt.de site, suggest a lack of thorough branding and editing.
8Crypt’s Role and Concerns
8Crypt, developed by Varkasso Ltd—a company in which Veltyco holds a 51% stake—is positioned as a central component of Nexus Global’s operations. However, despite being marketed as a “blockchain wallet,” 8Crypt lacks the transparency typically associated with blockchain technology.
Key Issues with 8Crypt:
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Off-Chain Operations: Transactions and balances are stored privately on company-owned servers, without public ledger verification.
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Lack of Transparency: The absence of a distributed network and third-party node verification raises concerns about the wallet’s integrity.
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Potential Risks: Such a closed system could be susceptible to financial opacity and misuse, contradicting the principles of blockchain technology.
Implications for Investors
Given the associations with previous unsuccessful projects like Cointed and ESPORTS.COM, and the opaque nature of the 8Crypt wallet, potential investors should exercise caution. The lack of clear disclosures and the MLM structure’s complexities warrant thorough due diligence before any engagement.
Conclusion
The intertwining of Nexus Global, 8Crypt, and Veltyco presents a complex scenario with several red flags. The combination of MLM strategies, questionable transparency, and associations with past failed ventures suggests that investors should approach with heightened scrutiny.