A shadowy NFT scheme called Meta Bounty Hunters appears to be the latest venture from MLM veteran Holton Buggs, the man behind iBuumerang. The problem? Nobody's supposed to know that.
Reader tips over the past week pointed to a suspicious pattern: iBuumerang affiliates were aggressively promoting Meta Bounty Hunters ahead of its launch. The most visible promoters were Avinash Nagamah, iBuumerang's Travel Savings Ambassador for Europe, and David J. Hunt, an iBuumerang Diamond Ambassador. Both are UK residents.
iBuumerang's own policies explicitly forbid ambassadors from promoting external companies alongside iBuumerang products in ways that could confuse people about any connection between them. Yet here were two high-ranking ambassadors doing exactly that. The notion that iBuumerang's executives didn't know what their own ambassadors were doing strains credibility.
The web gets stickier. iBuumerang distributors were pushing Meta Bounty Hunters under the Ellev8 brand—iBuumerang's forex trading platform. Nagamah even claimed Ellev8's trading results compared favorably to those of CashFX Group, a scheme that collapsed under fraud allegations.
Buggs, the MLM veteran who owns iBuumerang, has been conspicuously absent from Meta Bounty Hunters' public marketing and video presentations. That job fell to Nagamah and Hunt instead.
Meta Bounty Hunters hit 20,000 members in its Discord group. Ownership details remained buried.
Russian-language sources told a different story. A post on the Do Nothing blog identified Holton Buggs as Meta Bounty Hunters' owner. Sources revealed that Buggs is the real admin, while Nagamah serves as the public face behind development and investor calls. Nagamah is a top iBuumerang leader and frequent speaker at Business For Home.
Taken individually, these connections raise questions. Stacked together, they form a pattern that's difficult to ignore.
This isn't Buggs' first dance with crypto fraud. In 2018, he attempted to funnel Organo Gold distributors into Ormeus Global, another Ponzi scheme. That plan collapsed, and Buggs later launched iBuumerang.
Now Meta Bounty Hunters bears the same hallmarks: hidden ownership, high-ranking promoters from a connected MLM, and promises designed to attract investors who have no idea who's actually running the show.
Russian sources identified Holton Buggs as the owner.