The GIG-OS Ponzi scheme appears to have collapsed twice since BehindMLM reviewed the scam in 2020.
The first collapse appears to have happened circa 2022. GIG-OS’ original cycler Ponzi was run in euros. With the first collapse investor losses were transferred to GICO coin.
GICO coin, at the time, was an internal shitcoin created by GIG-OS.
GIG-OS’ rebooted GICO coin cycler Ponzi continued through August 2024, wherein dumping GICO coin on Netsbo was announced.
Netsbo, run by anonymous owners hiding behind a Marshal Islands shell company, is a shitcoin factory with its own purported blockchain.
GIG-OS’ plan appears to be to migrate GICO coin onto Netsbo’s blockchain, after which dumping GICO coin on dodgy public exchanges can commence.
Another possibility is GIG-OS migrating from the cycler Ponzi model to staking. Netsbo runs a staking Ponzi attached to its own CBR token.
Coinciding with GIG-OS’s GICO coin announcement, Netsbo’s website went live circa August 2024. It’s highly likely but unconfirmed whether the scammers behind GIG-OS are also running Netsbo.
Another component of GIG-OS’ Netsbo dump is JumboLine.
JumboLine operates from “jumboline.net”, a domain privately registered on August 27th, 2024.
JumboLine claims its the “best way to wrap your coins in Netsbo Network”.
On-chain execution of smart contracts allows us to integrate cryptocurrency exchange from different blockchain networks into one ecosystem.
As a result, the user is provided with the most simple, understandable and convenient platform for working with crypto assets.
I’m sure that means something to crypto dorks. For everyone else, JumboLine appears to be a bridge between GIG-OS, Netsbo and smart contracts.
GIG-OS is believed to be run by Russians hiding in Latvia.
The
first iteration of GIG-OS
was the third reboot of the long-running
EmGoldex Ponzi scheme
. GIG-OS’ two collapses bring the total number of EmGoldex/GIG-OS Ponzi collapses to five.
All of the EmGoldex/GIG-OS scams have centered around fictitious gold used to market a Ponzi scheme.
Across EmGoldex and GIG-OS, the scam has attracted regulatory attention from
the US
,
the Philippines
,
Malaysia
,
the UAE
,
Curacao
,
Peru
,
Russia
and
Italy
.
Additionally;
in 2014 the Massachusetts Securities Division
filed securities fraud charges against local EmGoldex promoters
in 2015 Philippine authorities
filed criminal fraud charges against local EmGoldex promoters
in 2019 top EmGoldex promoter Joseph Tran was
arrested in Sweden
in 2023 Argentinian authorities
arrested a local GIG-OS promoter
Despite all of that, promotion of GIG-OS persists.
As of August 2024, SimilarWeb tracked top sources of GIG-OS website traffic as Argentina (59%), Brazil (14%), Italy (13%) and Colombia (12%).
It appears Argentinian authorities making one arrest wasn’t enough to stop local promotion.
That said, GIG-OS’ monthly website visits is sitting at around ~45,900. That’s down 45% the same month GIG-OS made i
🤖 Quick Answer
What happened to the GIG-OS platform and its GICO coin?GIG-OS operated a cycler Ponzi scheme originally denominated in euros. Following an apparent collapse around 2022, investor losses were converted into GICO coin, an internally created cryptocurrency. A second collapse occurred by August 2024, after which GIG-OS announced plans to migrate GICO coin onto the Netsbo blockchain for external exchange listing.
What is Netsbo and how is it connected to GIG-OS?
Netsbo is a cryptocurrency platform operating its own purported blockchain, registered under a Marshall Islands shell company with anonymous ownership. GIG-OS selected Netsbo as the destination blockchain for migrating GICO coin, potentially enabling the token to be listed and traded on public cryptocurrency exchanges.
How did GIG-OS handle investor losses after its first collapse?
Following the initial
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