Cubebit 2.0 Fraud Scheme

CubeBit doesn’t provide any specifics of web-sites or runs the company on its website.

On October 2nd a youtube video titled “Cubebit Interview while using CEO” was uploaded to CubeBit’s official YouTube channel.

The recording features an interview with CubeBit’s “newly appointed” CEO, Konstantin Janke.

Janke works for Big Eye News. Big Eye News is an element of Big Eye Media, a production company that claims it’s “committed to providing excellent and informative content.”

Big Eye Media is an element of Big Eye Agency, “an audience-focused, creative-driven, full-service advertising agency”

A Big Eye promo precedes Janke’s CubeBit CEO video interview, so it appears to be a portion of their offering is producing fake CEO videos.

Janke generally seems to have been hired to play CEO following an appointment of CubeBit’s original CEO, a Fivver gig:

Gumiran is an authentic person. Together with Master Global Ambassador Gumiran is likewise the sole officer of CubeBit Business Solutions, a UK shell company incorporated in May.

Depending on the shell incorporation, Gumiran is Filipino but resides in Norway (this might explain the Janke actor’s accent). On Facebook, however, Gumiran’s recent posts feature photos shot in Dubai.

CubeBit’s official Facebook page is managed from Albania (this can also explain the Janke actor’s accent), Brazil along the Philippines.

On his LinkedIn profile, Gumiran pitches himself as

ahead unit consultant at Nexus chain dedicated to developing Token, Cryptocurrency coin, a Trading platform for Cryptocurrency, and MLM software for MLM startup Company.

Pending any additional information going to light, it appears to be CubeBit runs by Romel Gumiran. Whether he’s working alone or web-sites is unclear.

CubeBit’s website domain (“cubebit.io”) was registered in 2018. The private registration was last updated on April 16th, 2020.

Through the Wayback Machine, it appears to be CubeBit’s current website didn’t go live until following the April update. This suggests CubeBit’s owner(s) acquired the domain in April 2020.

Alexa currently ranks Pakistan as a common significant supply of website visitors to CubeBit’s website (92%).

Bear in mind, now of course MLM company is not openly upfront about who is running or owns it, think for a while about joining and/or handing over any money.

CubeBit’s Products

CubeBit does not have any retailable services or products, with affiliates only able to promote CubeBit affiliate membership itself.

Ad Cube

Ad Cube is usually an ethereum-based pyramid scheme operate on a 3Ă—9 matrix.

A 3Ă—9 matrix places an affiliate marketer on top of a matrix, with three positions directly under them:

These three positions form the initial level of your matrix. The next level of your matrix is generated by splitting these three positions into another three positions each.

Levels three to nine of your matrix are generated the identical way, with every new level housing three times as many positions as the last level.

CubeBit affiliates purchase 0.0114 ETH positions while in the matrix.

A 0.0038 ETH commission pays per subsequent matrix position purchased.

So that you can participate fully while in the Ad Cube part of CubeBit’s comp plan, affiliates must purchase at the very least three Ad Cube matrix positions.

The very first Ad Cube matrix position purchase pays commissions on three matrix levels.

The next Ad Cube matrix position purchase pays commissions on up to six matrix levels.

The next Ad Cube matrix position purchase pays commissions on all nine available matrix levels.

Subsequent Ad Cube matrix position purchases continue to pay commissions on all nine available matrix levels.

As well as matrix commissions, a 0.05 ETH commission pays if a personally recruited affiliate purchases a matrix position.

This commission is increased to 0.01 ETH for CubeBit “publishers, influencers & promoters&rdquo ;.

CubeBot

Through CubeBot, CubeBit affiliates invest bitcoin, ethereum, or ripple into “an automated crypto trading bot”

Investment amounts and returns aren’t disclosed on CubeBot’s website.

Conclusion

Reading relating to the lines, CubeBit is definitely an in-house use-case for Romel Gumiran’s flopped Nexus Chain venture.

Much like Nexus Chain’s website (“nexuschain.net”), the business provides “offshore company registration” and “premium MLM solution(s)”.Basically your typical “scam inside of a box” outfit.

Nexus Chain currently has an Alexa website ranking in excess of 4 million, which for an active organization is as well as dead.

And therefore we’ve got CubeBit Tech. Mentionened above previously in the introduction of this review, whether Gumiran is working alone or with other people from NexusChain is unclear.

What is evident in every facet of CubeBit, regarding their MLM opportunity, is fraudulent.

CubeBit itself is an easy pyramid scheme. You sign up, pay a fee, and earn commissions when another medication is recruited who carry out the same.

Like a pyramid scheme, CubeBit affiliates are openly encouraged to look at multiple accounts:

This will of course make no sense in the best business.

Ad Cube can be a pyramid scheme in just a pyramid scheme. CubeBot is the typical “trading bot” Ponzi scheme.

The algorithms employed in CubeBot are based on a driven stake method where we employed tedious testing to spot essentially the most profitable cryptocurrency trading options through automation.

That’s literally all there is usually to CubeBit being an MLM company.

Outside MLM CubeBit houses these components:

  • Cube Shop – eCommerce platform
  • Cube Academy – “diverse online courses”
  • Cube Lab – no information provided
  • Cube Chat – no information provided
  • Cube Ride – no information provided
  • Cube Play – unlicensed gambling platform (illegal)
  • Cubex – internal exchange
  • CPay – crypto wallet with disabled fiat withdrawals
  • CTravel – discount travel booking portal
  • Cube Portal – smart contract platform
  • Cube Delivery – no information provided

Some bother starting detail for any of these because they don’t have anything about CubeBit’s MLM offering.

CPay and Cubex look like how withdrawals are processed, which raises CubeCoin.

Presently CubeBit markets with euro amount both for funds in and out. Within CubeBit is “CubeCoin” (CUB), a worthless ERC-20 shit token generated on-demand at hardly any cost.

Such for the extent that CubeBit is now paying with EUR, cryptocurrency as well as another form of non-CUB payment, expect that to improve when withdrawals exceed funds entering CubeBit.

CubeCoin is going to be hyped up for being worth something, when in fact it’s just an exit-scam tool. The end-goal is to dump CubeCoin on CubeBit investors and exit quietly with what remains of invested funds.

This exit scam has played out again and again inside the MLM crypto niche.

On the regulatory front look closely at them:

Despite offering securities to US residents through CubeBot, CubeBit is not registered with the SEC. Notwithstanding pyramid schemes also being illegal down to the FTC Act.

Outside of the US CubeBit is just as illegal. The business isn’t registered to provide securities in almost any jurisdiction.

As with all MLM Ponzi schemes, once affiliate recruitment dies out so too will new investment.

This tends to starve CubeBit of ROI revenue, eventually prompting a collapse.

The math behind Ponzi schemes guarantees that when they collapse, many participants lose money.