Nexqloud (known as Nexqloud.io) is what We'd call a "Virtual Ponzi Scheme" company. Why? Well, it basically works like this: Nexqloud, using a name deliberately similar to NEXTCLOUD (a legitimate company) offers the typical "distributed computing" scam, with a twist - First selling you grossly overpriced desktop computer from them (which you can't use for anything), and a 'license' to connect to their network, with the promise of "generating income" in the form of their proprietary token, which has no actual value. This scheme makes reference to cloud computing, blockchain, and all the usual buzzwords that unsophisticated, unsuspecting investors are attracted to.

In reality, these devices (which typically are sold for a few hundred dollars), are sold to victims for several thousands of dollars, and don't actually perform any legitimate functions that would actually generate revenue, nor provide any 'services' which any legitimate business would pay for. Despite advertising services such as cloud hosting to customers, multiple attempts by more than 15 individuals to inquire about purchasing or testing these alleged services has gone without ANY response. Interesting. wouldn't you say? Conversely, if these individuals wished to invest but purchasing "servers" from Nexqloud, those inquiries were promptly answered with links to send them money. How about that!

Nexqloud claims their principal business address is 228 Hamilton Ave, 3rd floor in Palo Alto California, however this address is clearly listed as a Regus co-working office space, and when we attempted to verify their presence by contacting the building management, as well as a number of other listed tenants of the space - they could not remember any such company. In addition, according to the State of California, Nexqloud is not licensed to do business in that state, and in fact, the only known evidence of their registration was suspended in 2022, with the owner of the company being listed as a foreign individual named Juniman Kasman, with the business type listed as "Network Security". This licenses was suspended several times for nonpayment and noncompliance, and its interesting that this company dissolved a year before the Nexqloud domain was purchased.

Given that most of the individuals loosely associated with this company are marketing and sales related people, rather than technology experts, added to the fact that the company just came out of nowhere in early 2024 makes it HIGHLY unlikely that they have ANY kind of real product to provide cloud services, nor generate revenue for customers who invest in their scheme. Ask yourself this: if the product they're pitching really was possible, and a legitimate way to make money, how come nobody else thought of it already? Its not like the blockchain scams haven't been around for years already. This is super obvious. 

We know they have taken advantage of multiple individuals for tens of thousands and even hundreds of thousands of dollars, and we don't want this to happen to anyone else. We also think victims should get their money back, and the people behind this should go to jail for perpetrating a deliberate fraud.  If you are a victim, or have been solicited by this scam, please reach out to us and we can put you in touch with others who have been victimized. Federal authorities have been notified about this scam, but it is unlikely they will be able to help until it is too late and all the money is gone. Your best chance to recover now is to seek legal counsel and sue for recovery, while also exposing the fraudsters. 

We reached out to the people behind this scheme, and asked them several very simple questions that might set people's minds at ease, and while we did get a response, it was more of their regurgitated PR, and no actual factual information. We asked them:

1. Why do you list several addresses as being your place of business that are known to be shared office space where there is no record of your presence? 

2. What actual evidence do you have that your company has any kind of "blockchain" infrastructure, or any other form of network providing "distributed" computing capabilities, as mentioned on your website?

3. What evidence do you have that you have or have applied for a patent for any device/software or system?

4. Please explain the complete and total lack of ANY 3rd party validation of ANY of your claims.

5. Please provide evidence that you are licensed to do business in any state in the US.

6. Where are the financials for this company? 

Naturally, we have received no answers from them, because they don't have any explanation for all of their lies.


Please reach out to us if you'd like more information or have tips and information you'd like us to share! email us at nittygrittyfiles@gmail.com