BullRun, not to be confused with
BullRun the collapsed 2020 cycler Ponzi
, operates in the cryptocurrency MLM niche.

Heading up BullRun is CEO Carlos Nobre. Nobre is from Brazil and has a long history of participation in MLM scams.

BNG was an MLM scam that scammed thousands in Brazil circa 2016.

As part of their
coverage of BNG’s collapse
, UnversoMLM cited Carlos Nobre (right) as the company’s Marketing Director.

UnversoMLM tied Nobre to
UniverTeam
, a Portuguese scam that was eventually
sold off to the notorious OneCoin scheme
.

Going back even further, in 2012 Nobre was promoting the
AiYellow
pyramid scheme.

The first MLM crypto scam I was able to pin Nobre to was Digital Goen.

Digital Goen was a Brazilian crypto Ponzi scheme advertising a 3% daily ROI. Digital Goen collapsed in December 2019.

Unless Nobre has since fled Brazil, his involvement in BullRun suggests the company is being run out of Brazil.

BullRun’s website domain (“bullrun.io”) was first registered in February 2019. The domain registration was last updated on March 1st, 2021.

BullRun’s website domain registration details point to the Netherlands and appear to be bogus.

Also bogus is the corporate address in Panama City that BullRun provides on its website.

Any ties BullRun has to Panama will be on paper only, through the shell company “Universal Real Properties SRL”.

Based on Alexa traffic estimates for BullRun’s website, the company is primarily being promoted in Guatemala (45%), Russia (22%) and the Philippines (8%).

Read on for a full review of BullRun’s MLM opportunity.

BullRun’s Products

BullRun has no retailable products or services.

BullRun affiliates are only able to market BullRun affiliate membership itself.

BullRun’s Compensation Plan

BullRun affiliates invest €100 to €100,000 EUR on the representation of a ROI.

No specific ROI details are provided on BullRun’s website.

BullRun promoters on YouTube are advertising an annual 364.79% ROI.

The MLM side of BullRun pays on recruitment of affiliate investors.

BullRun Affiliate Ranks

There are eight affiliate ranks within BullRun’s compensation plan.

Along with their respective qualification criteria, they are as follows:

Bronze – sign up as a BullRun affiliate

Silver – generate €10,000 EUR in downline investment across thirteen unilevel team levels

Gold – generate €50,000 EUR in downline investment across thirteen unilevel team levels

Ruby – generate €200,000 EUR in downline investment across thirteen unilevel team levels

Emerald – generate €700,000 EUR in downline investment across thirteen unilevel team levels

Diamond – generate €2,000,000 EUR in downline investment across thirteen unilevel team levels

Double Diamond – generate €5,000,000 EUR in downline investment across thirteen unilevel team levels

Triple Diamond – generate €10,000,000 EUR in downline investment across thirteen unilevel team levels

Note that no more than 75% of required downline investment is counted from any one

🤖 Quick Answer

Who is Carlos Nobre and what is his background in MLM schemes?
Carlos Nobre is a Brazilian entrepreneur who serves as CEO of BullRun, a cryptocurrency MLM platform. He has an extensive history of involvement in multiple MLM and Ponzi schemes dating back to 2012, including AiYellow, Digital Goen, BNG, and UniverTeam, establishing a pattern of participation in fraudulent financial ventures across Brazil and Portugal.

What is BullRun and how does it operate?
BullRun is a cryptocurrency-based MLM scheme operating in the digital asset sector. The platform should not be confused with BullRun, an unrelated collapsed cycler Ponzi from 2020. BullRun operates under Nobre's leadership and follows the multi-level marketing model characteristic of previous schemes with which he has been associated.

**What were the previous scams

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