Zsolt NemethInvestigative publication

Investigative publication · Financial crime

We are Zsolt Nemeth

We are Zsolt Nemeth, a registered non-profit promoting ethical standards of conduct and compliance with the law in the public and private sectors.

We are dedicated to provide businesses truthful and validated information about bad-actors in the IT industry. Our platform is the first of its kind digital newspaper and investigative company focused on financial crimes.

Read the investigations Let Him Deceive You
Portrait of Zsolt Nemeth, the subject of this publication's investigations
Zsolt Nemeth

Why we do this

Throughout the years we learned that many investors are tricked to financially back dubious persons. These individuals established methods to channel investors' hard earned money into their own pockets and legally shield their harmful acts and scams behind offshore entities or simply hide behind the corporate shield.

With our non-profit's name we honored Zsolt Nemeth, a hungarian Serial Entrepreneur and Technologist. He has a passion for building innovative products and evangelizing new technologies. His new love is decentralization, blockchain and ICOs. Most importantly he loves to mislead people and companies.

Throughout his carrier he collected a huge amount of debt and multiple civil and criminal charges all around the globe. Exactly the kind of persons we will warn the industry off.

Our inputs are based on truth, honest comments and privilege and it will continue to identify select individuals in the near future and extend the list of bad actors.

Latest "Done" projects

The investigations

"Lying can never save us from another lie."— Vaclav Havel
R3sec ICO investigation Case 01

R3sec ICO

Deception about a self-healing security DNS product, investment, and customers.

Read case → Civil and criminal charges investigation Case 02

Civil and Criminal charges

Multiple counts of criminal and civil matters across jurisdictions.

Read case → Investor and public relations investigation Case 03

Investor & public relations

Constant misleading information about exits, wealth and connections.

Read case → Trademark and intellectual property investigation Case 04

Trademark & IP infringements

Sued by R3 LLC; questionable channeling and hiding of assets.

Read case → Degree fraud investigation Case 05

Degree fraud

University records do not match the degrees presented.

Read case →

Case 01

R3sec ICO

From 2017 to 2019 he deceived about the self healing security DNS product, investment, and customers. Investment commitments were made based on trusting these misleading informations.

He used a network of shell companies to funnel company assets to his own personal accounts. Multiple real and fake shells, nominee directors, addresses and fake shareholders are used to conceal his ongoing criminal plot. Many companies are created for single uses and then discarded or some never existed.

He perfected and adopted "Moving Target Defense" techniques for real-life corporations to protect and shield his own fraudulent activities.

Investors and contractors faced $450K+ loss on unpaid bills and concealed facts.

In 2020 Zsolt Nemeth rebranded the R3sec DNS technology product without notifying the old shareholders into Phoenix DNS, also known as R6 Security. Using the Phoenix DNS project he is continuing to convince investors and clients for backing.

Interestingly the legal entity used for the Phoenix DNS project called R6 Security Inc, located at 24795 Northcrest Lane, Los Altos Hills CA 94024, USA has not been registered.

The fact that R6 Security Inc does not exist does not hinder Zsolt Nemeth to continue signing contracts.

It is strongly advised to review and perform due diligence on any legal contract, jurisdiction, legal entity and their real shareholders before engaging with Zsolt Nemeth and his ventures.

"Never lie, never cheat, never steal."— John Wooden
Company registration evidence

Continuity · R3sec → R6 Security

From R3sec to R6 Security

R6 Security — which publicly markets a product called Phoenix — is, in this publication's assessment, a direct continuation of the earlier R3sec ICO project rather than a separate, unrelated venture. The account published above states that in 2020 the R3sec DNS technology was rebranded into Phoenix DNS / R6 Security without notifying the original R3sec shareholders, and the technical approach at the centre of both ventures is the same one described earlier on this page: "Moving Target Defense."

The timeline below separates what is documented (supported by this site's existing published account or by R6 Security's own public materials) from this site's conclusions about the alleged continuity and misconduct.

Documented = supported by a cited source. Site's conclusion = this publication's view / allegation.
  1. 2017Documented

    R3sec ICO begins

    Investment was raised around the R3sec "self-healing security DNS" product. (Per this site's existing published account.)

  2. 2018–2019Documented

    R3sec project wound down

    The project was shut down amid unpaid bills and disputes; investors and contractors reported losses. (Per this site's existing published account.)

  3. 2020Documented

    Rebrand to Phoenix DNS / R6 Security

    The R3sec DNS technology was rebranded into Phoenix DNS / R6 Security without notifying the original shareholders, and fundraising continued under the new name. (Per this site's existing published account.)

  4. 2025–presentDocumented

    R6 Security is actively operating

    R6 Security publicly markets Phoenix, an "Automated Moving Target Defense" product for Kubernetes and AI workloads, with an open-source core published on GitHub. The "Moving Target Defense" concept is the same technical thread described in the R3sec coverage above. (Per R6 Security's own public materials.)

  5. ContinuitySite's conclusion

    People, product and code carried over

    This publication's position is that the project moved to R6 with a small core team and that R6's product was built on the same whitepaper and source-code base as R3sec, evolving into the current offering. Supporting documentation is being compiled; until it is published and independently verifiable, this should be read as the site's conclusion, not an established fact.

  6. LeadershipSite's conclusion

    Leadership and the trust question

    The same individual is presented as a senior figure (CEO/CTO) at R6 Security. In this publication's view, the conduct documented on this page — together with a limited independently-verified technical background — is reason for investors and customers to apply heightened due diligence before trusting a security product, a category whose value rests entirely on trust.

Supporting documents & sources

r6security.com (Phoenix / R6 Security) Phoenix open-source core (GitHub) r3sec.com (original R3sec) R6 Security Inc registration evidence

The question this section leaves for investors and customers: would you trust a security product — whose entire value rests on trust — operated by someone whose past ventures are the subject of the disputes documented on this page? This is the site's opinion; readers should review the primary sources above and reach their own conclusions.

Case 02

Civil and Criminal charges

Throughout his entrepreneurial journey he is investigated for multiple counts of criminal and civil matters. Even interpol got involved.

Zsolt Nemeth poses a U.S. national security threat after defrauding companies with government clientele and security clearance. Request for U.S. entry ban for Zsolt Nemeth had been filed by US cizitens.

According to court papers "Mr. Nemeth's frauds are particularly dangerous because they relate to computer security matters. This gives him intimate insight into the vulnerabilities of the companies that he works with. They are even more dangerous because they in some instances impinge on the national security of at least the United States but likely also other countries."

"You must obey the law, always, not only when they grab you by your special place."— Vladimir Putin
Court papers (PDF)

Case 03

Investor & public relations

Constant misleading informations about exits, wealth and connections.

Nemeth run Kapocs PR Kommunikacios Bt between 2003.01.24 and 2004.09.22, a publishing and PR company, which was Nemeth's first work experience.

Interestingly it is not related to mathematics or information technology. Assuming his claimed education in Szechenyi Istvan Egyetem studying economics is real, it is still questionable how he turned into an IT-sec and algorithm expert going forward, since his claimed Master of Science at Ecole Superieure and business degree at Brookes University are fake. This company ended up in forced insolvency.

An other interesting Hungarian company related to Zsolt Nemeth is Diamond Capital Kockazati Tokealap-kezelo Zrt., where he held position as a director. This fund supposed to support the EU with selecting startups and distribute funds for the Flexible SME funding program called JEREMIE. Instead of doing so, the company had a short lifespan and got shut (registered on 2012.06.19 and shut on 2013.09.11).

How the EU money was allocated, if ever properly and where it actually went, is currently under investigation by the European Commission.

Further he ran a consulting company Camphora LLC, officially known as Camphora Consulting Kft with offices in Hungary which also ended up in forced insolvency on 2016.09.21.

He also claimed that he founded and successfully exited MDS Limited in the UK, although the company filing history reveals no shareholders named Zsolt Nemeth of this struggling and wound up soft furnishing manufacturer.

Further he claimed that he has founded MDS Holding that has scouted, bought and licenced technologies. There are no public records of such holding, although we are aware of fraudulent practices in 2016 trying to scam companies using offshore holdings.

On multiple occasions he publicly announced that his interest shifted towards virtual reality and falsely claimed to be the CEO of MaxWhere Solution Ltd.

Nemeth also founded a company called App-Ray GmbH in 2015, which he claimed to have been sold to a big antivirus company. He even hosted a party in 2018 to celebrate the claimed USD50M acquisition. The sale of the company is a lie, and is making massive losses every year according to the public balance sheet.

App-ray GmbH is a reseller of the App-ray technology developed by the Fraunhofer Institute, and owned by Breakpoint GmbH. The technology was purchased by Guardsquare GmbH in 2020 from Breakpoint.

Zsolt Nemeth falsely claims this acquisition as his own success.

Interestingly, App-Ray completely removed Nemeth from it's website's team section.

His latest officially registered company is called Reynholm Partners Ltd, which registered office address is at a vacation rental.

A diligence nightmare and questionable reputation on the global VC market.

"A single lie destroys a whole reputation of integrity."— Baltasar Gracian
Claimed acquisition App-Ray balance sheet (PDF) Team page change

Case 04

Trademark and intellectual property infrigements

Zsolt Nemeth got sued by R3 LLC for trademark infringements and was forced to hand over all R3security related trademarks. The court case revealed questionable channeling and hiding of assets via dubious offshore companies.

Case files

Phoenix DNS, also known as R6Security has questionable ownership of its technological and intellectual properties. It is a clone of the R3sec DNS company hence the defrauded investors, shareholders, and unpaid contractors may have full intellectual property rights and ownership.

According to court papers "Mr. Nemeth uses the good reputations of others, notably the Fraunhofer Institute and SCIT but also his other victims, to further his frauds."

"Remember that your reputation is everything. You build your personal brand through everything you do, whether big actions or small decisions, and that brand will stay with you throughout your career."— Jan Fields

Case 05

Degree fraud

Zsolt Nemeth proudly presents himself holding a Master of Science degree in Economics from Szechenyi Istvan University, a Master of Science degree in Applied Mathematics from Ecole National Superieure and a business degree at Brookes University, Oxford.

It turned out that he is not a genius that is capable of studying full time at multiple universities and in parallel holding CEO & CTO position at companies straight out of university and present no work experience. He is rather a talented fraudster and deceiver.

After contacting Ecole Superieure and Oxford Brookes University they confirmed that there is no record of a student called Zsolt Nemeth with matching personal details.

A conman who perfected the lying game called "Zsolt Nemeth who tries to fool the world"

"There is a price to pay for speaking the truth. There is a bigger price for living a lie."— Cornel West
Presented résumé (PDF)

About Zsolt Nemeth

"Greed is so destructive. It destroys everything."— Eartha Kitt

Skills claimed

Product strategiesBlockchainMalware analysisCyber SecurityInternet PrivacySIEMsMobile SecurityBig DataCloud ComputingEntrepreneurship DevelopmentAngel InvestingCISA

Real Life Expertness

Gain Trust95%
Mislead about professional network85%
Mislead about previous exits and wealth90%
Deceive investors and regulators85%
Avoid paying contractors90%
Zsolt Nemeth profile image

Zsolt Nemeth

Maybe the best professional deceiver?