Nano Club, the third iteration of the Crypto 888 Club scheme, officially collapsed last week, leading to its fourth reboot as Nano Crowd. This event followed a year of investor debate regarding the scheme's sustainability, ultimately confirming a recurring pattern of collapse and rebranding.
The history of this operation includes Crypto 888 Club, which later became Octa Partners, then Nano Club. Each phase employed a consistent strategy: launch a new, valueless altcoin, promote it as a vehicle for Ponzi-style returns, and then, upon the inevitable collapse, reboot with yet another altcoin. This cycle has moved through OctaCoin, NanoCoin, and now, with the latest reboot, Ormeus Coin.
On November 16th, information confirmed Nano Club's failure. The Nano Club website now displays a "Nano Crowd" logo, though it offers little beyond a login portal. A recent webinar detailed the transition, stating that future Nano Club earnings would be paid in Ormeus Coin. NanoCoin balances will convert to Ormeus Coin at a 10:1 ratio, meaning investors will receive 10% of their previous holdings in the new coin. These newly converted Ormeus Coins will also remain locked and inaccessible for one year.
Ormeus Coin is tied to Ormeus Global, a cryptocurrency project that entered prelaunch around June. Ormeus Global promises affiliates a 160% passive return on investment. The company claims to generate this revenue through "robo-trading." However, Ormeus Global advises that its multi-level marketing opportunity is "not available in the United States."
This restriction appears to be a superficial attempt at regulatory compliance. Alexa data indicates the United States is the largest source of traffic to the Ormeus Global website, accounting for 40% of visitors. Neither Ormeus Global nor Nano Crowd hold registration with the U.S. Securities and Exchange Commission (SEC). This lack of registration means both entities are offering unregistered securities to U.S. residents, a violation of federal law.
The absence of SEC registration, combined with no verifiable evidence to support the "robo-trading" claims that supposedly fund affiliate payouts, strongly suggests Ormeus Global operates as a Ponzi scheme. New investor funds likely pay earlier investors, creating the illusion of profitability. Ormeus Coin itself appears to be another in a line of worthless MLM altcoins, designed solely to facilitate the scheme.
Ormeus Coin launched in early October and is currently in a "pump" phase, trading between Ormeus Global affiliates at approximately $4.28 per coin. This initial activity and the mandatory merging of Nano Club affiliates into Ormeus Global serve to create artificial trading volume. The practice of "dumping premined coins" onto affiliates generates an illusion of market activity. Like its predecessors, Nano Coin and Octa Coin, Ormeus Coin's public value is expected to plummet once this initial stage concludes.
The partnership with Nano Club indicates that its owner or owners may have sold the existing affiliate base to Ormeus Global. Confirmation of such a transaction has not yet surfaced. Without any genuine utility or underlying business, Ormeus Coin is expected to fail, following the trajectory of Nano Coin and Octa Coin. The overall structure represents a third generation of altcoin Ponzi schemes, now burdened by an increasingly desperate investor pool.