Nam San Bay, based in Vietnam, is linked to the TronPlus platform, which registered its "tronplus.io" domain privately on September 9, 2020. The platform falsely claimed to have "no admin" while offering returns on a TRP token, a digital asset created by the scheme's undisclosed operators.

The TronPlus website provides no information about who owns or operates the company. This lack of transparency is a common characteristic of fraudulent investment schemes, making it difficult for investors to identify responsible parties or pursue legal recourse. Despite its public claim of operating without an administrator, TronPlus's internal documents identify Nam San Bay as the author of its compensation plan, suggesting his direct involvement in the scheme's operation.

TronPlus offers no retailable products or services. Instead, the business model relies entirely on affiliate recruitment and investment. Affiliates market only the TronPlus membership itself, a structure consistent with a Ponzi scheme where new investor funds pay off earlier investors.

Affiliates invest between 5,000 and 100,000 Tron, a cryptocurrency, with the promise of daily returns ranging from 0.7% to 0.9%. These returns are paid in TRP, a TRC20 token created by the anonymous TronPlus administration. A TRC20 token is easily minted on the Tron blockchain and typically holds no inherent value or market utility outside the specific scheme that created it.

Returns are capped at 300% of the initial investment, a figure that includes any commissions earned through recruitment. Upon reaching this cap, an affiliate must reinvest a higher amount to continue participating in the scheme and earning returns. This mechanism encourages continuous capital injection into the system.

TronPlus also pays referral commissions across three levels of recruitment. A direct recruit (level 1) earns the recruiter 3% of their investment. Recruits brought in by level 1 affiliates (level 2) generate a 2% commission, and those on level 3 yield 1%.

Beyond direct referral payments, TronPlus offers a Matching Bonus on withdrawals made by affiliates within one's unilevel team, extending down eighteen levels. The highest payout is 20% on withdrawals from level 1 affiliates. This percentage decreases for deeper levels: 10% for levels 2 through 5, 5% for levels 6 through 10, 3% for levels 11 through 15, and 2% for levels 16 through 18.

Joining TronPlus as an affiliate is free, but participation in the investment program requires an initial deposit of Tron cryptocurrency. The entire structure functions as a Ponzi scheme operating on the Tron blockchain. The TRP token's lack of external value ensures that its only purpose is to facilitate the internal transfer of funds within the scheme, effectively making it worthless if the scheme collapses.

Analysis of TronPlus's smart-contract statistics indicates the Ponzi scheme has already failed. Such data, publicly available on the Tron blockchain, shows a cessation of new deposits or a depletion of funds, signaling the inability to pay promised returns. Victims of such schemes, particularly those operating anonymously and across borders, face significant challenges in recovering their losses. Law enforcement agencies and financial regulators often struggle to trace funds and prosecute the individuals behind these complex cryptocurrency frauds.