New financial pyramid targets Uzbekistan with claims of daily trading profits

A new financial pyramid operating under the name LumenX C8 club has begun aggressively recruiting members across Uzbekistan, promising guaranteed daily income through cryptocurrency trading. Originating in Russia, the scheme uses the guise of "trading signals" to lure investors into a system that bears all the hallmarks of a traditional Ponzi scheme.

Recruitment is largely conducted through Telegram groups, such as the "C-8 Club. Uzbekistan Group," managed by an individual identifying herself as Nasiba, though her real name is reported to be Salomat Kuranbaeva.

Kuranbaeva has been actively touring various regions of the country, most recently Chiroqchi district in the Kashkadarya region, presenting herself as a "leader" and holding promotional meetings to attract new members.

The core of the deception lies in a "trading signal" system. Members are told that by registering on a specific app and entering a code at a designated time, they are executing trades on a cryptocurrency exchange. In reality, these signals are merely a psychological tool to convince participants that their profits are generated through legitimate trading.

In the C8 club structure, payouts are entirely dependent on the deposits of new members. The organization uses a military-style ranking system, where higher tiers such as "Lieutenant" (C4) require a $3,000 deposit. Participants at this level are promised $120 daily, amounting to $3,600 monthly or $43,800 annually.

The public face of the company is "Nathan Jones," portrayed as the president of a major US–Russian joint venture. However, investigations find no verifiable information regarding his background or professional history. He appears to be a "fake persona," a fabricated character designed to lend the scheme an air of international credibility. This persona even reportedly "communicates" with local leaders in the Uzbek language to build trust.

To increase visibility, the scheme offers small incentives to local businesses. Kuranbaeva claims that Nathan Jones pays $50 per month to any shop or service point that displays the C8 club logo. This "consciousness and pocket" strategy aims to normalize the brand within the community while reimbursing leaders for the costs of organizing promotional tea parties and gatherings.

During an undercover inquiry by a Kun.uz journalist, Kuranbaeva claimed the group was attempting to gain legal status in Uzbekistan, possibly by registering as a charitable foundation to "help the unemployed and the disabled." Despite these claims of legitimacy, the C8 club website was only registered on April 2, 2026, with all registrant data hidden.

The rapid spread of such schemes highlights an urgent need for stricter legal penalties in Uzbekistan for the promotion of financial pyramids. As one platform closes, others like C8 club quickly emerge to take its place, often leaving thousands of citizens in financial ruin. Citizens are strongly advised to avoid investing in suspicious platforms and to refrain from recruiting others into these fraudulent networks.