Micah Theard, a former OneCoin Ponzi scheme participant, is linked to the CashFlow NFT operation, which now promotes "Boogie Gopher" NFTs as virtual shares. The scheme claims an imminent NASDAQ listing within months, despite neither CashFlow NFT nor its associated entity, Miracle Cash & More, holding the required SEC registration for public offerings.
CashFlow NFT began last year as a real-estate themed NFT ruse. That initial venture failed to gain traction. The operation then pivoted to selling "Boogie Gopher" NFTs, presenting them as investment positions in virtual shares. These virtual shares are offered with the promise of passive profit from an anticipated NASDAQ initial public offering.
The core of CashFlow NFT's current scheme centers on a NASDAQ listing, which marketing materials suggest will occur in the "next 12-18 weeks." For any company to list on NASDAQ, it must be registered with the U.S. Securities and Exchange Commission. A search of the SEC's Edgar database shows no record of registration for either CashFlow NFT or Miracle Cash & More. This lack of registration means the NASDAQ claim is legally impossible.
Investors must purchase Boogie Gopher NFTs to obtain these virtual shares. The NFTs themselves hold no inherent value, typically featuring low-effort, algorithmically generated cartoon animals. CashFlow NFT does not directly target U.S. residents, at least not yet, given the obvious legal implications of unregistered securities offerings within the United States.
The company instead focuses on consumers in countries like Italy and the United Kingdom. CashFlow NFT offers secret virtual share contracts to residents in these nations. These offerings are illegal because CashFlow NFT lacks registration to offer securities in the U.S., Italy, or the UK. The UK's Financial Conduct Authority (FCA) specifically banned MLM cryptocurrency investment schemes on October 8, 2023, further complicating their operations there.
Micah Theard, a known figure from the OneCoin Ponzi scam, runs CashFlow NFT. He initially operated behind UK resident Daniel Wood, who has since disappeared from the scheme. The associated company, Miracle Cash & More, is led by Hakan Törehan, an individual reportedly with ties to organized crime. Both Theard and Törehan are based in Cyprus.
Since its launch last year, CashFlow NFT has struggled to attract significant engagement. Website traffic remains so low that SimilarWeb reported no tracking data as of September 2023. In response to a YouTube video by "No Pants Profits" on October 22, CashFlow NFT issued a statement. This response did not address any of the fraud allegations raised in the three-hour video. Instead, the company doxxed the channel owner, Richard Shilling, to its investor base.
On November 16, 2023, Micah Theard revealed that CashFlow NFT and Miracle Cash & More have purchased MetaTerra, an SEC-registered shell company. This acquisition introduces a new element to the regulatory landscape surrounding their operations.
Consumers should be aware that a vast majority of participants in CashFlow NFT's previous schemes, beyond a small percentage of early recruiters, lost their investments, a pattern likely to repeat with Boogie Gopher NFT positions.