EvoRich investors, many of whom previously lost funds in Bob Ultee's BobCoin scheme, now face another redirection into a new cryptocurrency venture known as FNT. This latest effort to convert existing losses into a new digital asset is reportedly coordinated by Valentin Sokolonikov, identified as the CEO of Global Unit Pay, EvoRich's in-house payment processor.
Earlier attempts to salvage investor capital had led many EvoRich participants into Bob Ultee's BobCoin scheme. By September 2022, that venture had largely failed, leaving many with further financial setbacks. The pattern now repeats with FNT, a new digital token scheme whose operators remain publicly undisclosed.
FNT promoters use comparisons to several established or once-prominent cryptocurrencies to attract new investment. These include CRO, the native token of Crypto.com, which struggles amid broader business difficulties and trades at approximately 11 cents. Another comparison is LUNA, a token whose underlying algorithmic stablecoin mechanism collapsed dramatically in May, erasing billions in investor wealth. Despite a subsequent reboot, the new LUNA token quickly fell from a stated $14 value to around $2. CEL, linked to the now-bankrupt Celsius Network, also serves as a marketing point; Celsius froze customer withdrawals in June, trapping investor funds. NEXO, while still operational, is associated with a scheme offering "daily compounding interest," a common hallmark of Ponzi structures.
The FNT project urges investors to convert their existing UNT tokens, which are among several digital assets tied to the EvoRich ecosystem and now hold little to no market value. This conversion strategy aims to create artificial demand for FNT, hoping for a price increase that would allow earlier EvoRich participants to "cash out" funds that do not genuinely exist within the system. The entire premise rests on new money entering to pay off earlier investors, a classic pyramid dynamic.
FNT is slated to operate from fntworld.io, a website domain privately registered on September 1st. As of this report, the site remains largely undeveloped and non-functional. The individuals behind FNT have not been publicly identified. However, those at the upper echelons of the remaining EvoRich network likely possess this information, yet they have not disclosed it to the broader investor base.
The broader EvoRich scheme itself began to unravel following the arrest of its founder, Andrey Khovratov. Khovratov was apprehended earlier this year while attempting to flee Russia, reportedly on charges related to large-scale fraud. He is believed to remain in custody, though no further public updates on his legal proceedings have been issued. The impact of his arrest was immediate and severe for the multi-level marketing operation.
Website traffic to EvoRich's main portal has since plummeted to below trackable thresholds, indicating a widespread acknowledgment among investors of their losses. The shift to FNT appears to be a desperate attempt to extract further value from a dwindling pool of remaining participants.
Valentin Sokolonikov plays a central role in directing EvoRich investors toward FNT. He actively manages the "FNT Official" group on Telegram, where instructions for the token conversion and investment are distributed. Sokolonikov, a Russian national reportedly residing in Switzerland, lists himself on his LinkedIn profile as the CEO of Global Unit Pay. Global Unit Pay functioned as the internal payment processing service for EvoRich, giving Sokolonikov direct insight and control over financial flows within the now-collapsing organization.
Valentin Sokolonikov's publicly available LinkedIn profile confirms his role as CEO of Global Unit Pay.