I don't think "scam" is the right term. The Noso-project is led authoritarian and centralized. The code includes, for example, the option for the management to freeze the funds in any account. This means that the management of the Noso project has assumed power and authority that can otherwise only be exercised by the police and the courts, so that the account holders are deprived of all normal legal guarantees for a fair trial and protection against arbitrary confiscation etc.

The Noso project is led by holders of so-called Governance Tokens. These GVT tokens can be purchased for around US$400 and a person can have more than one GVT. There are currently 66 GVTs sold. Fewer than 10 people hold enough tokens to have the majority on votes on important issues.