Bitcoin Forum

Cryptocurrency is a revolution in the transaction but also used them to hold a major Scam.

ICO is a round of public fundraising, usually launched by a technical startup. The startup sells cryptocurrency tokens to investors; investors buy in the hope that the company will develop into a large business, which will increase the price of tokens.

There are no exact promises that ICO will turn into a good business. Investors are forced to give credit of trust together with their money. This is where the Scam begins.

Pincoin and iFan

Pincoin and iFan took place in April 2018. Two ICOS were held by the same Modern Tech company in Vietnam. 32,000 investors gave a total of $660 million.

Both ICOS are classified as multi-level marketing Scam. iFan advertised a social network for celebrities through which they could promote their content. Pincoin promised 40% of the monthly profit from the contributions made to the online platform for investment and auctions.

Well this is what happens when people want easy and fast money. It is possible but with it comes huge risk involved. Of course where there is money to be made there are scammers that are trying to scam you, they exists everywhere and crypto comes as no exception. Thats why people shouldn't based their opinion on where to invest their money based on some small amount of data but rather should investigate deeper themselves.

OneCoin

OneCoin announced the Ponzi scheme in India in July 2017. After 2 months, the Italian authorities imposed a fine of €2.5 million on it. OneCoin does not even support the classic decentralized cryptocurrency and public Ledger. Scandals around it lasted 18 months, 5 countries issued official warnings that this company is not worth investing.

Can you add bitconnect, biggest Scam and shitty coin, Until now in my country there are still demand lmao. And one more TBC (The Billion Coin) Best joke ever.

There is no ICO is really be a scam.
And who makes the scam is their team with the project and also their competitors.

Indeed, people are forced to give trust to the ICO.
But if investors are smart, then they can avoid a scam.
If investors are blind to the platform community, they will enter the scam project. IMO

Just saw this recently.

‘Over and Out’: $50 Million Savedroid ICO Makes Apparent Exit Scam (https://www.ccn.com/over-and-out-savedroid-ico-makes-apparent-exit-scam/)

hey hey heeeeeeyyy

BitConnect wins here  ;D

Diabolov, isn't it better if you post the "5 cryptocurrency Scam" in the first post rather than making several posts for each?

Also, if you don't mention Verge (XVG) I'll be extremely dissapointed  ;D

bitconnect is a thing of the past, though...Everyone knows it's a scam (except people in your country LOL).

From personal experience I can say that the largest scam in which I accidentally got it was the CTR (Centra). I was very lucky to get out of this coin a little even earning, another thing is that now this deceit was drowned by many of my friends who believed in maps and project possibilities. It was very sad and painful for the holders.

Bitconnect

Bitconnect has long been accused of being a fraudulent scheme. He stopped working in January before receiving orders from two American regulators. Users exchanged bitcoins for Bitconnect Coin (BCC) on the project platform — they were promised astronomical profits.

Next, the company launched a program of loans: customers lent BCC to other users and made a profit depending on how many loans were issued. This is a classic Ponzi referral scheme. The victims filed a lawsuit in the amount of $ 700,000.

Plexcoin

Plexcoin promised depositors 1 300% profit per month — a classic Scam. However, the ICO has raised more than $15 million Fine, the SEC has had time: froze the company's assets and arrested the founder of the Dominic Lacroix. By the way, the arrest and freezing of accounts — the first case in the practice of the Commission.

Centratech

Centratech promoted boxer Floyd Mayweather and DJ Khaled. ICO offered Visa and MasterCard support services that would allow customers to convert cryptocurrencies to real money. ICO raised $ 32 million, after which the two founders of Sohrab " Sam " Sharma and Robert Farkas arrested on suspicion of fraud.

Actually Savedroid is not a scam, it was just a marketing stunt that they tried to do in order to raise awarness and lobby for improved regulations with their fake exit scam.
You can read more about this here: https://coincodex.com/article/1547/savedroid-did-not-exit-scam-marketing-gone-wrong/

The media immediately reacted to the obvious Scam. BitCoin ONE (BTCONE) posted an ad in its Twitter account: if Savedroid really turns out to be a Scam, they will give 100 000 BTCONE to victims for free. Some Theo Goodman posted on Youtube a video with an empty ICO office. Behind the scenes said:"I can not confirm Anything."

A major serious portal Finance Magnate also responded to the news and wrote that Savedroid turned out to be a Scam. Also, the media mentioned that the project allows you to make 56 different types of cryptocurrencies, unlike most ICO, which accept only BTC or ETH. About the project wrote CCN, Cryptovest, Crowdfund Insider, Bloomberg. Perhaps, HYIP around Khankir can be compared only with the references to Vitalik Buterin and Charles Lee.

Verge

Verge Cryptocurrency Opens Crowdfunding: A Possible Scam?
Verge, a digital currency with an ambition to compete with other privacy coins, took to Twitter on Thursday, March 22 to ask its users to raise an amount of $3 million in XVG so that the project can reveal a partnership. Such an endeavor that is completely unheard of, even in the Cryptocurrency world.

Starting out as a Dogecoin Fork, Verge was popularized on Nate Murray’s cryptocurrency list as a “privacy dogecoin.” Since then, the coin has come a long way and is met with equal parts criticism and cheering. The failure to deliver on its famed “Wraith Protocol” was circulated extensively on Twitter, causing the project to lose credibility. In the past week, Verge’s Twitter account posted a “crowdfunding” campaign to enable the project to reveal a new partnership.

Such a move is not only bold and risky, but it makes users view the project with suspicion...

That is why people say investment will come with risk! If you want to get rich quickly, ICO is a great way - but with a condition that you have to make the right choice :)

Yeah I have read about that news but whether it's a marketing stunt or not, you don't give that type of worry to your investors.

Well let's end this off.

There are many scam coins that are really hurt the image of ICO. Because of these ICO camps that does not produce any profitable results it came to the point that a lot of coins drop their values simply because a lot of coins destroys their image. Social has big factor towards the popularity of each coin so basically if on could just make an issue about scams in ICO it greatly destroy the reputation of crypto across the block chain that's I dimly believed that this scam coins will never be stop unless a new profound system for crypto is created.

Indeed,people are eager to put their money to these investments though most of the new projects are scams,people just want to earn faster that is why they are risking too much,sometimes the those ICOs which promises things that are good to be true are the ones which has turning into scams,thus you will need to have some research before joining any of these ICOs.

Yeah, I hate Bitconnect too. Since earlier 2017, I found a lot of Youtuber who promoted Bitconnect. Fortunately for me, I am not too interested in Bitconnect. Well, personally my biggest scam that I've experienced was Otho Network. They have a good idea, solid team, and interesting site. But until now, I can't believe that this project will turn into a scam. More details can read the topic here: https://bitcointalk.org/index.php?topic=3021869.0

365dailycrypto a leading Cryptocurrency News Website sheds light on the Arrest Warrant of NKD Technology Founders Marco Robinson & Malvindran Ganesh.

Click below link to see Press Release

https://drive.google.com/open?id=1JpDkOWhp4ZI-6j0dSFUlLjmMKpx1R3AI

https://youtu.be/0BKNeaTTqsI

FAKE Exoneration attempt by Naked founders Marco Robinson & Malvindran Ganesh FAIL, ARREST  Warrant and JAIL Sentence Surface.

https://drive.google.com/open?id=1QUKq6boxe6lhjArvFZttdO2vv-UX5nO9

Click above and below for court & police documents.

https://drive.google.com/open?id=1iDOY2caFonjGt85Thr6uiYA2VDhp0rep

LAToken Exchange list Scam Company NKD Technology whose founders are wanted by police. Click below to see Sell Disabled by founders of NKD investors cannot sell

https://drive.google.com/open?id=1FK6uFkIrt5OnGRzaYCG8E3Q7bCUPXN0v

https://youtu.be/3Og5mn4oyMU

Watch Above Video ☝ Marco Robinson And Malvin Ganesh Founders of Naked Technology ICO Disables Sell of NKD Token on LAToken Exchange

Does LAToken Exchange Know NAKED Technology Founders Marco & Malvin is Wanted BY POLICE

Marco Robinson and Malvindran Ganesh founders of Nkd technology are trying hard to hide their Arrest warrant  and Jail Sentence by paying to media and ico websites to publish their Exoneration

Naked Technology Founders Get Prison Term for 2 months. Court  sentences Marco Robinson & Malvindran Ganesh founders of NKD Technology for ICO Fraud  and embezzlement of  funds with imprisonment for two months and abscond/ ban  from country PenalCase No 48248/2018.

https://youtu.be/SNZB6VdYFCs

https://bitcointalk.org/index.php?topic=5079439.msg48420371#msg48420371

See in above Video Founders of Naked Token Marco Robinson & Malvindran Ganesh Court Order WANTED By Police

Marco Robinson and Malvindran Ganesh founders of Naked Dollars Cryptocurrency ICO Tokens continues to scam & fool investors by first posting on Oct 19th it will be listed on LA Token Exchange and when questioned by naked investors on his facebook that it is not listed on LA Token Exchange they pull down the post from their  facebook https://www.facebook.com/WealthRevolutionGroup/ .

https://www.youtube.com/watch?v=VMGR_zzYmCo&t=212s

Seen in the above video is posting of Naked dollars listing on LA Token exchange on their facebook but if you visit their facebook they have removed the post  which can be seen in the above video. They are now conducting seminar and scamming people in United States of  AMERICA

https://www.the-richlist.com/go/

There is an action naked dollar grievances group formed against Marco & Malvindran ICO scam , contact on twitter handle xtools1 or click below

https://twitter.com/search?q=xtools1&src=typd

Share this post with as many people as you can, we need to raise awareness and weed out these bad actors from the crypto community.

Nkd White Paper goes missing on nkd technology website , Road Map Timeline altered from original White Paper , Jonathan Rogers is no longer Partner/Founder on Nkd Technology  Website and BigLuv website is down.

https://www.youtube.com/watch?v=6cG4-Jhih2Y&t=102s


Watch above youtube video Marco robinson  continues his legacy of lies and has  removed the original Nkd Dollar  Whitepaper and changed the roadmap on his website which initially he had mentioned in his whitepaper listing of nkd tokens in Jan 2018 as you can see in the youtube video but now has been changed on his website www.naked.technology to Oct 2018 to make people believe that he is yet to list.

But the truth is Marco robinson and Malvindran ganesh the founders  collected  Millions of dollars from their Pre ICO but disabled selling upon listing in Feb/March at Sgcoinex a scam cryptocurrency exchange so investors could not exit and were stuck with nkd tokens which are worthless and of no value today . You can  also see in the video Jonathan Rogers which was one of the founder/Partner of Nkd Technology is no longer on NKD Technology Website. Also Big luv Technology website is down.

Marco robinson and Malvidran Ganesh founder of naked technology has been scamming people all over the world and is on the run and removing  Nkd Dollar ICO video and post from his Facebook and Youtube page look at below link

https://www.youtube.com/watch?v=sYRbLBafp_U&t=670s


They got their coin listed on sgcoinex which was not an exchange but a website created by Malvindran Ganesh and Marco robinson to fool the investors. Investors realised they were being fooled so they changed it to ER20 token and they claim to have listed on etherdelta but apparently no one can sell the tokens

Middle East ICO Investors ,  Singapore ICO Investors and Malaysia ICO Investors were promised NAKED ATM Machines , NAKED & Bitcoin Debit Cards , Naked Coins they have invested thousands of dollars in naked technology ico www.naked.technology and have lost their money watch below Video to find out their grievances.

https://www.youtube.com/watch?v=392glJ9wZUg&t=23s

https://www.youtube.com/watch?v=NwXsEUk8Op4&t=12s

https://dirtyscam.com/reviews/marco-robinson-naked-technologies-nkd-bigluv-new-rich-list/

https://www.reddit.com/user/VapeBoiii/comments/86wqbj/bigluv_ico_naked_technologies_marco_robinson_scam/

https://www.beermoneyforum.com/threads/would-you-invest-in-naked-dollars-coin-nkd-ico.6076/page-2

https://repdigger.com/reviews/marco-robinson

Marco Robinson and Malvindran Ganesh are conducting Events globally to promote their below forthcoming ICO

https://www.bigluv.technology/ -  In the name of charity ( Get A House For Free) he is scamming people by using the buzz word blockchain.

https://www.naked.market/

https://www.the-richlist.com/

They claim their ICO is asset backed i.e security token but they do not have any license to issue a security token . We should make them sell their assets and recover our money. We need to inform the blockchain event organisers where marco is going to do his presentation that he is scammer .

if you click on the below link it shows list of unauthorised companies and marco robinson is one of them

http://www.bnm.gov.my/index.php?ch=en_announcement&pg=en_announcement&ac=541&lang=bm

He blocks all means of communication, does not respond to investors and gives  legal threats . All those who have been scammed by marco robinson and malvindran ganesh kindly post on social media and to the police their passport details are below

kindly take note the real name of Marco Robinson is Mark Lawrence Robinson UK Passport No  GBR510565178  and Malvindran Ganesh Malaysia Passport No A40883015

Contact Details
———————-
Marco mobile +447538031949 and +60146622347

Malvin +60143239863

Marco email - marcorob@gmail.com and

Malvindran email - malvindran@naked.technology

Naked Investors Whatapp Group
———————————————

https://chat.whatsapp.com/L2gkDosonGK4k9T0ucocvK

Naked Technology Social Media
———————————————-
https://www.facebook.com/WealthRevolutionGroup


https://www.instagram.com/marcorobinsonnow/


https://www.facebook.com/malvindran


https://www.facebook.com/MarcoRobinsonBestsellingAuthor


https://twitter.com/marcorobinson7

Naked Techonology accounts
—————————————-

Wien Hafizah
Accounts Manager
+603-62039820
Email - wienhafizah@wealthrevolutiongroup.com

Naked Team Of Advisors
---------------------------

Dinis Guarda -  https://www.ztudium.com/
Guenther Dobrauz -  https://iclg.com/firms/pwc/guenther-dobrauz
Alfredo Sebastiao -  https://www.linkedin.com/in/sebastiao/
Jeffrey Hayzlett -  http://hayzlett.com/
Bruce Porter -  https://globalboo.st/
Christopher Cumby -  http://christophercumby.com/
Sonya Ottaway -  https://www.linkedin.com/in/sonya-ottaway-ca-cisa-pmp-5472372/

kevin Harrington from the program SHARKTANK series and Naked team of Advisors  does not know marco and malvindran is scamming people around the world and on the run  since he met most of them in his blockchain events so they don't know much about him and they should be informed marco and Malvindran is scamming people .

Over 80% of ICO are scam and naked group ( malvindran and marco robinson) is one of them

https://irishtechnews.ie/81-of-all-icos-are-scams-and-other-ico-facts-that-you-should-know/

“People have lost thousands of dollars with  naked report signals and now marco and malvin is scamming people by promoting two new ico Naked Exchange and Big luv “

We need to punish these culprits

It's sad to know that there's a lot of ICO who got easy money.
How come the people behind that project you stated deceived the people who trust in them.
They create fear from people who want to trust crypto.

ICO itself is not a scam, but projects and teams themselves are often a scam!

But not all projects are scams, I agree that market is full of fakes, but we also need to support new good ideas, as they are one of the factors for further development of the market. I often look at www.icoguide.com rates to find good projects, as the rates at this web seems to be real.

Unfortunately there increased numbers of scams icos in past months and its doesn't matter if they scam big or small funds since as we investors we get disappointed by this and many of them are small investors and even small money also matters them much.

The Biggest ICO Scams of 2018


Biggest ICO Scams of 2018
Here are the various types of ICO scams that users should watch out for:

• Malware scams
• Fake exchanges
• ICO scams
• Pump and Dump scam
• Ponzi schemes
• Fake Bitcoin scam

Now that we know about the types of ICO scams, Let’s take a look at some of the biggest cryptocurrency and ICO scams in recent times:

OneCoin
OneCoin was one of the worst scams to have surfaced in the market. The whole idea turned out to be a classic Ponzi scheme. The details on its coin are sketchy, many people believe that the coin was never created. There was no working prototype and several of the team members had been part of previous ICO scams. The founder and COO of the company, Dr. Ruja Ignatov is supected of posting false qualifications on the official site.

The website was poorly designed with plenty of typos in place. It also faced technical problems on a regular basis. Even after repeated warnings from several governments, people still invested their money into the project. In fact, OneCoin scammed investors by a whopping amount of $350 million. Back in April, the Indian authorities had raided a OneCoin meeting, arresting 18 people.

Centratech
No one suspected Centratech to be a scam. Especially because it was being endorsed by celebrities DJ Khaled and Floyd Mayweather. The move attracted substantial attention from investors and users. The company also proposed a service that would allow users to spend cryptocurrencies as fiat money. The company had said that it is looking to partner with Visa or Mastercard but none of this happened.

Once the company raised $32 million during the ICO sale, the founders were arrested by the SEC and put in jail. The SEC said that the founders took extreme measures to make sure that their truth would not be discovered. The company even went as far as creating make-believe biography of their team. The celebrity endorsements was simply a way to bring investor confidence while protecting the reality of the situation.

One of the few instances where the fraud was caught on time and the amount was returned to the investors with interest. The founders were also barred from participating as directors or officers in future security offerings.

Pincoin
One of the more recent scams in the crypto space, in fact, there is a lot of anger related to this particular ICO among investors and the general population. Their initial ICO was monumentally successful. The ICO raised $660 million dollars from 32,000 investors. The company further honored their promise of returns and cash rewards motivated the exiting users to bring in their friends and family to put in more funds into the project.

Folling the success of the ICO, Pincoin announced that a token called iFan would be developed. This token would be used to compensate the investors. But as soon as the token was issued, the Pincoin team disappeared from the office leaving a less-than-useful website and a lengthy whitepaper behind.

Had the investors taken time to research the project, they would have found that none of the information about the team or the company was verified. This scam serves as a reminder to investors to always research thoroughly before making a decision.

Bitconnect ICO Scams
The company was accused of a Ponzi scheme for a very long time. Bitconnect officially stopped all its operations in January. This move was as a result of a cease and desist order from American financial regulators.

The users of Bitconnect were encouraged to trade Bitcoins in favor of Bitconnect Coin (BCC) on the company’s platform. The users were assured substantial returns for their investment.

The company also started a lending feature that allowed users to lend BCC to other users and earn interest as a result. It further publicized this feature in a typical Ponzi-scheme fashion. Since the company shut down its operations, multiple users have filed a class-action lawsuit against Bitconnect. The claims amount up to $700,000.

Plexcoin
This company was shut down in December 2017 by the US Securities and Exchange Commission (SEC) after being discovered as an elaborate Return on Investment (ROI) Ponzi scheme. Plexcoin had offered its users and investors more than 1300 percent return. According to the SEC, the company was able to raise $15 million from thousands of investors before the government agency intervened.

As the aftermath of the SEC ruling, all funds of the company were frozen and the founder of Plexcoin Dominic Lacroix was put behind bars.

This was the first incident in which SEC diligently took action against an ICO via the Cyber Crime Unit. Since the Plexcoin’s services were classified as a security, SEC was well under its rights to press charges.

Read full story: https://listofico.com/blog/biggest-ico-scams-2018/

Thanks for the statistics of scam projects. It is strange, but many of the listed projects considered successful and realized on 100%. I will be more attentive to them.

Not all of them have an intention to develope a fully working product.
I should give you another news that reveal the biggest scam ico all the time in the cryptocurrency
https://cointelegraph.com/news/vietnam-pincoin-ifan-icos-exposed-as-scams-that-allegedly-stole-660-million

Becareful before try to join or invest in the ico.

Of course, now there are many ICOs that are good but must be stopped because of many problems and complicated. There are also fraudulent ICOs and make people trapped because they are not researching about the ongoing project. Many ICO frauds appear, you should be careful when choosing an ICO or participating in an ICO.

It is best not to be a uneducated person on this matter and learn to study more regarding on the project to prevent possible scam instances. If you make a investment without making assurance on the ico project, you are risking your investment.

There truly some ICOs that have been able to deliver based on their promises. What I do nit like is making a promise or setting up a milestone that is not feasible and definitely not achievable. For such project, my firm advise is for people to run far away from it. If a project ids out to make vague promises, one would have noticed before the project ends. Which is why i like to do thorough research before investing on any project.

Envion has been the biggest but complicated kind of scam for me, after raising big amount of money i think greed took over and the people behind either intentionally played a game or we can say drama, or some people out of all the people behind this project tried to exit scam with the money whatever the case in the end investor and supporter of this project is the biggest looser, even pathetic part is that they ran a 2 million bounty campaign where thousands of people participated and promoted this project but unfortunately not a single person was paid.
I hope some authority will take notice and refund investors and reward bounty hunters too.

There are good things attached to cryptocurrency and then there are bad things. Its a two faced sword. It can be good and can be very bad. There are people who became billionaire because of it and then there are people who lost everything to it.

You are definitely correct because while the cryptocurrency is developing there are lot of people who use this as front to scam others but sooner or later people will learn from the previous mistakes and the fraudulent activity will be minimize as long as the guidelines for checking the  legitimacy of an ICO is followed.

There is no doubt that it is bitconeeeect ;D All of us know about this project. It is really sad that it's scam. I had a small deposit that but as for me I have a big profit from this project.

In all areas there are scammers. And crypto is no exception. We need to study the project well before investing in it. After all, many scams can be easily calculated if you study the project in more detail. There are also projects that are not going to deceive investors at first, but then they realize that they will not be able to implement the project and investors are left with nothing. This is a risk and we must also take it into account.

Scammers on ICO's now have become sophisticated also in their ways to deceive people. No matter how good we are in our research, these people have ways to scam others. That is why regulations by goverment are being done right now.

at the end of this year, 90 percent of projects already become a scam or simply remain unfinished. now this market of ICO is in despair