Arkbit has received a securities fraud cease and desist from the Arkansas Securities Department (ASD).

As per the ASD’s 
June 1st
order, an investigation into Arkbit Capital LLC, BeefyBit Capital LLC and NanoX Invest LLC has revealed the entities have

violated provisions of the Arkansas Securities Act.

In other words, Arkbit is committing securities fraud.

BehindMLM
reviewed Arkbit
in January 2023. It’s a pretty bog-standard Boris CEO Ponzi, fronted by “Thomas Brewer”.

Brewer doesn’t exist and is played by US actor Mike Wolfe.

Back in January Arkbit operated from a .COM domain. ASD’s order notes at some point Arkbit moved to a .IO domain.

As at the time of publication, both domains are non-functional.

ASD claims that upon investigating Arkbit, they discovered to clone Ponzi schemes; BeefyBit and NanoX. BehindMLM has not reviewed either of these schemes.

Note that neither BeefyBit’s or NanoX’s respective websites are available either.

Having determined Arkbit, BeefyBit and NanoX are all committing securities fraud, ASD has ordered them to “immediately cease and desist … from perpetrating securities fraud”.

If you’re wondering why BehindMLM is covering an order issued almost six months ago, it’s because we only learnt of it earlier today.

ASD cited the Arkbit order in a November 22nd
cease and desist order targeting GSPartners
.

Coincidentally, on October 18, 2023, while viewing a GSPartners Facebook page during the pendency of this investigation, Staff discovered an Arkbit promotion post created by GS Partners.

Staff has not found a connection between the (GSPartners) Respondents and Arkbit, other than GS Partners’ direct promotion of this fraudulent enterprise on FaceBook.

Staff is [sic] highly concerned that Arkbit (is) connected to the (GSPartners) Respondents and that the Respondents are attempting to continue to perpetuate fraud through Arkbit or assist Arbit in perpetuating fraud on Arkansas investors.

I believe the cited promotion was from a post made to a public GSPartners FaceBook page. There doesn’t appear to be any direct link between the two Ponzi schemes.

Update 8th January 2024 – 
Arkbit Capital has been rebooted as
ABC Holdings
.

🤖 Quick Answer

What is Arkbit and why did the Arkansas Securities Department issue a cease and desist order?

Arkbit Capital LLC, operating through multiple entities including BeefyBit Capital LLC and NanoX Invest LLC, received a cease and desist order from the Arkansas Securities Department on June 1st following an investigation that revealed violations of the Arkansas Securities Act. The scheme operated as a Ponzi structure using a fictional CEO identity.

Who is behind the Arkbit securities fraud scheme?

The Arkbit scheme was fronted by a fictional character named "Thomas Brewer," portrayed by US actor Mike Wolfe. The operation utilized shell companies and shifted between different domain extensions, including .COM and .IO domains, to facilitate fraudulent securities activities.

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