Beware of BitMobb – Review

GlimDropper, a veteran BehindMLM reader, shared a Nui update with us yesterday.

Darren Olayan was marketing 12-month crypto investment contracts through Nui International.

Olayan had been hiding since a $595,000 securities fraud fine from Utah in late 2020.

After taking a break from social media in December 2017 while numerous regulators investigated Nui, Olayan reappeared in mid-January…

…to promote NFTs. Hmm.

I looked for a relationship between Nui and NFTs but couldn’t find anything. While I couldn’t validate Nui International’s status as an MLM organization, I thought the new investment ideas GlimDropper had revealed merited a review update at the very least.

So I waited for Nui’s update and got to work on putting together a review.

But that bothered me. Why had Olayan returned to social media after a two-year hiatus to harp on about NFTs when Nui didn’t have any?

It was here that I fell into the rabbit hole of Olayan’s Nui Ponzi scam being moved to Brazil.

While Nui does not now provide NFTs (at least not directly and not yet), Darren Olayan registered the name (“bitmobb.biz”) in June 2021.

Olayan describes himself as a “crypto coach” and “Blockchain Entrepreneur and Business Consultant” among other things.

Jumping on the NFT hype train is, of course, part of the pitch.

NFTs are merely a marketing tool for Olayan, as far as I’m aware.

NFTs served as a stepping stone toward Olayan’s present business activities. Because there’s so much to understand here, I’ll start by listing every corporation and organization I came across.

We’ll go over each one individually below, followed by a conclusion on why any of this matters.

As of May 2022, the Darren Olayan crypto rabbit hole

BitMOBB

DoMoreLLC

Symmetry

Illuminex

Car Money in Bitcoin

Kala Cup

International Nui and Nui

KLA Investments

Games by Naka

Yes Bank

BitMOBB

BitMOBB is based at “bitmobb.biz.” “My Own Borderless Banking” is an abbreviation for the MOBB element of the name.

This is a reference to crypto ATMs, and it’s a nod to the old KALA ATM marketing ploy from 2020:

Apart from that, BitMOBB is a blog where Olayan promotes himself and his different schemes.

Consult with more people

Do More Consulting is referred to as “DoMoreLLC” on Olayan’s BitMOBB website.

Do More Consulting began operations in 2019 under the domain name “domorell.com.” That website has since been decommissioned.

Do More Consulting was a one-time thing. The company’s official Facebook page was established in February 2019, only to be deactivated in May.

Olayan made two video postings to the website in late 2021, sharing footage from his freshly renamed “BitMobb – Blockchain, Crypto & NFT community” YouTube channel.

Do More Consulting has been abandoned again as of December 2021.

Symatri

Darren Olayan uses the shell business Symatri to launch his crypto scams. It all started with Kala Coin (KALA) in 2017.

Olayan’s multiple linked offshoot plans are now referred to as “customers” by Symatri.

Because no one outside of Nui uses KALA, these may be recognized as firms that use it.

Illuminex

Illuminex bills itself as an “automatic trading bot”:

Illuminex is a Symatri customer, which means it is run by Darren Olayan.

We can double-check this by looking at the Illuminex backend and noticing that it utilizes “Kala Fuel”:

Kala Fuel is a “transactional token” utilized by Symatri-based businesses.

Car Money in Bitcoin

BitMOBB is promoting Bitcoin Car Money.

It’s a dubious-looking crypto automobile lending corporation founded in late 2021:

BitMOBB is situated in Utah and accepts a wide range of cryptocurrencies, including KALA.

Kala Cup

Kala Cup was a pathetic attempt to get into gaming via Fortnite.

Symatri held “Kala Cup,” a Fortnite competition they organized using Rematch, last year.

This looks to be a continuation of the company’s previously announced sponsorship of Team Xen, a Fortnite esports team:

International Nui and Nui

Nui International is included in BitMOBB’s “earn money” section.

Nui and Nui International are interchangeable at this time. I’ll simply say Nui to keep things easy.

According to GlimDropper, Nui International’s crypto investment Ponzi scam continues to provide unregistered securities.

Nui promoters mention Nui Social LLC, a Utah firm owned by Olayan, in their marketing pitch:

Nui International LLC, another Utah firm, is also owned by Olayan. Both companies were operational at the time of publishing.

Nui uses two cryptocurrency contracts to solicit customer investment: Nui Rental Contracts and Nui Custody Contracts.

Affiliates who invest $5000 or more in Nui Rental Contracts can earn 5% per month. Note: MLM earnings received through Nui are factored into each Nui Rental Contract and are capped at 200 percent of the invested amount.

Nui’s MLM opportunity is not described in detail.

Regardless of whether 200 percent is paid out, Nui Rental Contracts expire after 12 months.

Nui Custody Contracts asks you $100 to $20,000 in bitcoin in exchange for “varying daily profits.”

Nui Custody Contracts are for 12 months and pay Monday through Friday. Withdrawals of profits are subject to a 5% charge.

The SEC has not registered Darren Olayan, Nui, or Nui International.

KLA Investments

KLA Invest is accepting bitcoin investments in KLAINDEX25.

The major 25 biggest Cryptocurrencies that make up the cryptocurrency market cap are included in this index.

KLAINDEX25 is open to anybody, physical or legal.

BRL 5,000.00 as a minimum investment (five thousand reais).

KLA will be entitled to a performance fee of 20% (twenty percent) if the capital invested returns up to 100% (one hundred percent).

KLA will be entitled to a performance fee of 35 percent (thirty-five percent) if the invested capital returns more than 100 percent (one hundred percent) and up to 200 percent (two hundred percent).

If the capital invested yields a return of more than 200 percent (two hundred percent), KLA will be entitled to a 50 percent (fifty percent) performance fee.

If the investment is requested to be liquidated before its maturity date, the client will be charged a fine of 20% (twenty percent).

KLA Invest is included in BitMOBB’s “earn money” section. It’s quite evident who’s behind it right away:

Olayan asserts that KLA Invest (also known as KLA Capital and KLA Crypto Index) bills itself as Latin America’s “first crypto hedge fund.”

They spent two years trying to secure a license from the CVM.

In Brazil, the CVM is the counterpart of the SEC in the US.

Olayan has gone above and above to represent the KLA. Invest is a Brazilian company that has nothing to do with him.

KLA Capital Group Gestora de Recursos Ltda and a Brazilian company location are provided.

KLA Invest’s website, understandably, has no executive information. In July 2021, the company’s website domain (“klainvest.com”) was privately registered.

Olayan posted another of his NFT marketing spam pieces to World NFT news on February 14th. Olayan reveals his involvement with KLA Capital Group and KLA Invest in the article’s footer.

After receiving a Crypto Hedgefund license from the CVM, Darren Olayan was covered in Brazil.

Whoops.

The company’s corporate records (which are conveniently available on KLA Invest’s website) indicate another tangible relationship between KLA Invest and Nui:

Douglas Caetano put them together, as stated previously.

In October 2020, Caetano will be representing Nui Social’s corporate legal team:

Caetano promotes KLA Invest in his job as an attorney for Nui Social a few months ago:

The conclusion is that Olayan’s Brazilian shift was orchestrated with Caetano’s help and the use of shell businesses.

Games by Naka

A KLA Invest commercial film was added to a World NFT News spam story on January 14th, 2022:

On a YouTube channel called “Naka Games,” that video isn’t available:

I looked at the other videos on the channel because I had no idea what Naka Games was.

“Cash Out in English” is the first video on Naka Games’ YouTube account.

On April 19th, 2022, it was posted with Darren Olayan explaining “the cash out procedure.”

So, Darren Olayan’s Naka Games is a business that individuals may profit from.

But what exactly is it?

We offer a solution if you have been duped by a crypto/mining MLM.

This time, we have true smart contract technology to safeguard you. We employ NFT technology to offer you complete control over your network, commissions, and company.

Putting aside the irony of accumulating investor losses dating back to Divvee, Naka Games sounds very similar to Olayan’s 2019 CompChain heist.

Compchain is the first blockchain designed exclusively for networking.

It reclaims control of your network for you.

Compchain is a safe, secure solution that permanently saves and secures your network.

Compchain, which is based on immutable blockchain technology, allows you to lock in your network for life and take advantage of new goods and opportunities as they become available.

But with the addition of NFT and smart-contract jargon.

But why is it called Naka Games?

Because, aside from being a rehash of Compchain, Naka Games sees Olayan jump on the NFT gaming bandwagon.

A Rewards Platform is a Blockchain-based system for tracking customer reward points and generating a common transaction ledger among all companies participating.

I’ll leave Naka Games alone since, let’s face it, we’re well into the “no one but Nui KALA bagholders will ever use this” area.

But I’m going to go a bit deeper into Naka Games’ ties to Upstream.

Eligible fan-driven asset classes will be able to trade in real-time via a user-friendly trading app thanks to NAKA’s affiliation with Upstream, a Horizon-powered regulated stock exchange for digital securities.

Upstream claims to be a securities exchange on their website.

Upstream is a groundbreaking digital stock exchange and trading program.

Upstream allows you to trade both domestic and international stocks.

Invest in the dual-listed US and foreign shares on Upstream and other global exchanges.

So, I assume assuming Upstream is registered with the SEC?

It isn’t.

Who is responsible? Upstream

MERJ Exchange Limited (“MERJ”) began operating the Republic of Seychelles’ national securities market in 2011.

The exchange was established as part of the IMF-backed Economic Reform Program, which aimed to diversify the country’s economy following the global financial crisis of 2009.

Horizon is a fintech firm that creates and operates global securities exchanges, allowing previously illiquid asset classes to gain liquidity.

Seychelles… seriously?

Seychelles offers no protection or active regulation for investor due diligence. Because of this, it was purposely designated as a jurisdiction.

Oh, and unless you live in Seychelles, the fact that Upstream and its affiliated firms are formed and registered there is likewise worthless.

What does any of this have to do with Darren Olayan and Naka Games, though?

Olayan narrates a video in which he cashes out “commissions” from a test account.

This is what Naka Games is offering for sale.

In our investor-driven, app-based market, we want to unlock liquidity for investors of all levels. On the surface, NAKA appears to provide worldwide investors with a real-time, safe, and user-friendly trading platform.

Under the hood, NAKA introduces what we consider to be the future of stocks and NFT trading, utilizing blockchain technology to provide some of the greatest levels of openness, accessibility, and investor protection.

It’s another MLM scheme including securities fraud.

Finally, at the footer of Naka Games’ website, there is a link to Climark. This looks to be a digital marketing firm based in Brazil.

It’s unclear how intertwined they are into Olayan’s securities fraud operation beyond Naka Games.

Yes Bank

Yes Bank, founded by Darren Olayan and not to be confused with the big Indian bank of the same name, is a payment processor in the works.

The domain “yesbankbrazil.com.br” is used by Yes Bank. In April 2021, that domain was registered. The registration was last updated in March 2022, and the current holder’s website is still very young.

The domain owner is identified as Jackson Amaral Erohin. J&F Capital, a Brazilian management and consultancy firm, is led by Erohin.

I’m not sure what his connection to Olayan and Nui is.

Even though it has not yet launched, YesBank is touting KALA integration:

This displays Olayan’s involvement in the firm, either entirely or in part.

Here is Olayan’s description of Yes Bank:

[2:40] Yes Bank is the name of the bank. What’s more, guess what? Along with bitcoin and ethereum, Kala is one of the cryptocurrencies they accept…

… You’re referring to a bank with a checking account, a savings account, and a bank account. The capacity to do all banking functions.

We do, however, provide a significant amount of blockchain, wallet, and insurance technologies. Of course, kala is included.

[4:11] I informed you. What if we had a bank that used our wallet technology, and insurance, and carried our crypto? I asked.

Do you realize what you can accomplish with such abilities?

Oh, and I’m going to deposit my kala and then convert it to bitcoin. Or in Brazilian reals, dollars, or any other currency.

Do you see what I mean? What do you think is going to happen? Especially because the entire card, Visa, and MasterCard infrastructure are already in place.

Guys, it’s a bank. This isn’t anything I made up. It’s a financial institution.

So, who wants to buy Yes Bank Brazil? Needless to add, Olayan and Nui do not have any banking licenses in Brazil or elsewhere that I am aware of.

What difference does it make?

Since 2016, I’ve been recording Nui’s beginnings as Divvee. In 2017, I first learned of Darren Olayan’s securities scam.

In 2018, Olayan said he was aware he was breaking US securities legislation.

Despite various regulatory inquiries six years after Divvee’s inception…

Texas (2018)

Montana (2019)

Utah (2020)

Michigan is a state in the United States (2020)

…Olayan is still going strong, and the crypto bro nonsense is thicker than ever.

After a brief hiatus following the Utah fine, Olayan is back at work and growing.

Brazil is a major contributor to Olayan’s resurgent crypto crime wave. I assume the gamble is to live in the United States while defrauding Latin Americans and avoiding regulatory scrutiny.

As of this writing, Brazil (27 percent), Colombia (25 percent), Italy (17 percent), and Portugal account for the majority of traffic to Nui International (14 percent ).

It’s also on the increase…

At this time, traffic to the other components of Olayan’s Ponzi scam is minimal.

What’s the limit? Who, more importantly, is still falling for this nonsense?

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