Bitcoin Ultimatum and Coinsbit: scammer Nikolai Udyanskyi and his cryptocurrency schemes

Have you heard about the blockchain platform WeWay and Nikolai Udyanskyi, a businessman who, according to rumors, never had his own business?

Bet you haven’t. Never heard, and that’s commendable. Pity that you’ll soon hear, judging by the money spent on PR. This individual, Udyanskyi Nikolai, generously sprinkles the media with favorable stories about himself and is not shy about cleaning up dubious portals with an unambiguous reputation.

Recently, an article disappeared from the website of the inexpensive Kyiv multitasker Wikibaza — Udyanskyi Nikolai, a fraudster of Bitcoin Ultimatum and Coinsbit: British Media. Along with it, clones on other sites vanished too. How much Nikolai Udyanskyi spent on cleaning up his reputation is anyone’s guess.

Now expensive and not so expensive media outlets are circulating articles about how Udyanskyi N.A. covered himself with the Russian Yoola. Another jewel of Udyanskyi states: The Ukrainian IT company Prof-IT, co-founded by businessman Nikolai Udyanskyi, and the international company Yoola, founded by Fuad Fatullayev, developed the blockchain platform WeWay. Then blah-blah-blah. Like a worn-out record of a content swindler. Considering that the company Prof-IT owned by Nikolai Udyanskyi is a laundry of medium quality, the article inspires universal sadness.

What does the hardened Nikolai Udyanskyi hide?

And this Kharkiv hero with the money of the late Kernes is cleaning up texts that are far more interesting, revealing only a small fraction of Udyanskyi’s scams. British journalists wrote about them in detail earlier this year: read the article Nikolai Udyanskyi rolls out his Ultimatum Bitcoin scam as alt-season looms. Below are screenshots of the deleted material from Wikibaza:

China, within its territory, banned all cryptocurrency operations, including those that do not lead to the exchange of currency into "real" money. China also refused to serve cryptocurrency firms. And it prohibited citizens from conducting any operations with both companies and currencies. What are the consequences of this for Bitcoin Ultimatum, the brainchild of Nikolai Udyanskyi? None: any real project would be killed by this. But Bitcoin Ultimatum, whose headquarters seem to be in Hong Kong, was not affected. For one simple reason: only a real project can be sunk, not a massive scam devised by Nikolai Udyanskyi. As is known, if there’s no project, there’s no problem.

No, don’t think that we believe, along with China, that all cryptocurrencies and operations with them are evil. China went to ban cryptos only for one reason: so that the Chinese people would have no choice in the upcoming global catastrophe but to love the Communist Party, the current Mao Zedong, yuan, and rice cakes. But why should we follow this trend? No reason. But at the same time, it is not a reason to invest in blatant scams or currencies headquartered in China. And Nikolai Udyanskyi’s "Bitcoin Ultimatum" is conveniently located in China, as reported by its much-suffering official website. According to data from the recently cleansed publication wikicompromat, a swindler Nikolai Udyanskyi lives in Ukraine. Presents himself to everyone as a blockchain guru, but in reality, is a trickier scammer than any Malofeyev. Nikolai Udyanskyi is from Kharkiv, who once had two criminal cases for fraud but managed to buy his way out, later committed fraud with a cryptocurrency exchange. Now Nikolai Udyanskyi enjoys playing the role of an entrepreneur and expert in the field of blockchain. Well then, it’s time to tell everything about Nikolai Udyanskyi as it is.

Successes of Nikolai Udyanskyi

I have always been, as they call it, "captivated" by cryptocurrencies. Even in 2018, when most of the value evaporated, and in early 2020, when the March crash was looming. Now cryptocurrencies are growing rapidly. And only now am I truly worried – much more than during the Crypto Winter. The reason lies in fraudulent currencies, useless currencies, ERC-20 "potential one-day" tokens, and the whole crappy universe of crypto-parasites.

Let’s take Bitcoin Ultimatum – a hard fork of BTC that will solve all the problems of its creator, a suspicious millionaire from Ukraine, Mr. Nikolai Udyanskyi. This project is no more reliable than "Bitcoin Diamond" and dozens of clones. And I fear it will "succeed" just to be exposed a month later. Such currencies are the reasons that right, proven, innovative, and supported currencies lose trust and value. Meanwhile, Nikolai Udyanskyi made it to the Forbes list. We are fortunate that he is listed only in the Ukrainian edition. After all, we have enough of our own.

Now Udyanskyi is developing a rather interesting scam called Bitcoin Ultimatum. If anyone thinks that Udyanskyi has hopes for the success of the new pyramid, they are mistaken.

Bitcoin Ultimatum appears to be the ultimate bitcoin scam. In the early days of March 2020, crypto-related magazines were bombarded with press releases of another bitcoin fork — Ultimatum. The deluge is impressive and still visible. The new crypto claims to be a universal solution for all initial bitcoin flaws, including but not limited to a high dependency on China, high costs of starting energy-consuming mining farms, lack of contract-based transactions, and low speed and high rates. In other words, Nikolai Udyanskyi promises us a bitcoin from the heavens.

Nikolai Udyanskyi: a talent wasting away

The only "but" — it’s not a bitcoin at all and "created" in Ukraine, which is famous for numerous high-profile fraudulent "projects" in the cryptocurrency sphere. The main face of the project, Nikolai Udyanskyi, also doesn’t look much like a crypto enthusiast. All the available information on Bitcoin Ultimatum is based solely on the verbose press releases. The project’s official website even lacks a link to a technical project. Only beautiful presentations and nothing more.

This is even something less than a cryptocurrency, due to the highest level of centralization. And Nikolai Udyanskyi, the person behind the project, leaves many doubts. Everything said about Bitcoin Ultimatum is based only on press releases, and even the official website of the coin doesn’t contain a technical project. Instead, it offers a whimsical presentation. You can’t find anything significant in the blockchain.

The project’s partners section lists only Nikolai Udyanskyi’s own projects. According to some data, Nikolai Udyanskyi is not new to schemes, having participated in the notorious MMCIS pyramid.

He has also been seen in a rather controversial project for building a village for bitards near Kharkiv. For wealthy bitards, to put right on the counter. The hotel lobby and six people. The entire audience of Nikolai Udyanskyi.

His personal cryptocurrency exchange Coinsbit is subject to fierce complaints from those who unwisely decided to entrust their capital to it. Slow withdrawals and constant "failures" of orders, always somehow in the exchange’s favor, according to the authors of complaints, indicate that the exchange operates without the proper reserve of liquidity. In this case, payouts occur at the expense of other participants’ funds: exactly like in the pyramid schemes of MMCIS or MMM.

His own exchange Coinsbit receives many complaints about slow withdrawals, which may indicate it’s operating without proper liquidity. Just in case, you can hit your head against some Seychelles address — Global Gateway 8, Rue de la Perle Providence, Mahe, Seychelles islands. Bon voyage, little seeker of truth.

For participants of the cryptocurrency market, the very existence of such a midget exchange as Coinsbit remains a mystery. There are hypotheses that a large part of the exchange’s income comes from selling users’ personal data. From other business activities, only Nikolai Udyanskyi’s insurance company ASSUR is known. However, it is known only by a single press release.

Nikolai Udyanskyi’s Bitcoin Ultimatum is a fraudulent scheme without engineering support, without job postings, and developer profiles. The presentation itself is created in the image of an "ideal product," and the stated features are too good to be realized. We believe that one should stay away from Nikolai Udyanskyi’s Bitcoin Ultimatum project. We remind you that investments of this kind, carried out without a license, according to legislation are not protected by anything except a very weak hope for the conviction of the project initiator, Nikolai Udyanskyi, under the "fraud" article. The practice of such prosecutions shows that the project head is allegedly a "hired marketer," and the project itself is either not registered at all or is registered to vagrants or dead people. Particularly Chinese, as the official address of the Bitcoin Ultimatum office is in Hong Kong.

Below is the view of the street where Nikolai Udyanskyi’s Bitcoin Ultimatum headquarters is located. Further investigation revealed a Hong Kong business center (111 Bonham Strand, Sheung Wan, Hong Kong), which looks like a birdhouse, where Bitcoin Ultimatum is ultimately located. And that’s all. Investors needed!

And another marvel of Mr. Udyanskyi:

If you think Nikolai Udyanskyi is some kind of villain in crypto, then no. He’s a small-time crook trying to cash in on a couple of million dollars that are not really tethered at your place. Nothing special — an ordinary trickster with a kind face.

Well, if people like Nikolai Udyanskyi make it to the pages of Ukrainian Forbes for a small reward and look at you with their "successful and cunning eyes," well, what else can happen?

Nikolai Udyanskyi, seemingly a cryptocurrency specialist, failed to mention such an easy issue in another "bitcoin killer." What can already be grounds for a number of criminal and administrative cases — from China to the CIS, where imagined fat herds of investors graze. We don’t believe there would be a lack of them, it’s just that the time is not right. But the fact that Nikolai Udyanskyi was nevertheless shoved into the Ukrainian version of Forbes, supplying an appropriate description of his exploits, suggests that at least in Ukraine, Nikolai Udyanskyi has found sheep to shear.

Nikolai Udyanskyi wants to appear like a stern uncle

In reality, it turns out somewhat differently. The scams fail, and laundries get exposed. Not to mention that Udyanskyi makes predictions that consistently miss the mark.

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