Bitcoin Forum

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What happened:  Plagiarism whitepaper

A lot of copied material without providing links to sources. The white paper has page 7 for links to sources. But they all belong exclusively to this site.
If the technical document contains any information copied from other sources, the developers are obliged to provide all links from where the information was taken from. But as we see, this information is not.
Accordingly, this document is fake, the team appropriates other people's materials.

ANN Thread: https://bitcointalk.org/index.php?topic=5344600.0
Archive link: https://loyce.club/archive/posts/5726/57262817.html
Profile link: https://bitcointalk.org/index.php?topic=5344600.0
Website link: https://remittance.finance
Archive link: https://web.archive.org/web/20210617080418/https://louvrefinance.com/
Whitepaper : https://web.archive.org/web/20210620135850/https://remittance.finance/
Archive link: https://web.archive.org/web/20210620135338/https://remittance.finance/Whitepaper_of_REMIT.pdf


Plagiarism whitepaper :

https://i.ibb.co/GRsbWS4/Screenshot.png (https://ibb.co/nj357JN)

A lot of copied material without providing links to sources.

https://i.ibb.co/FDM9jGP/Screenshot.png (https://ibb.co/87pJSFh)

https://i.ibb.co/KDKKFSk/Screenshot.png (https://ibb.co/xYFFJd0)

https://i.ibb.co/vP0vZrD/Screenshot.png (https://ibb.co/Phqzwbt)

https://i.ibb.co/MVyJ7my/Screenshot.png (https://ibb.co/d2sHDRs)

https://i.ibb.co/Jc1JFdS/Screenshot.png (https://ibb.co/CwcGstS)

The reason some people do that is beyond my understanding. If they're starting a new project, shouldn't they know how to write their own whitepaper?
Copying someone else's work? Well, it is obvious that such a project is doomed to failure.

Imho it's easier to copy and with some luck they catch a couple of losers. Then rinse and repeat.
Usually such projects are not "doomed to failure", instead they're plain scam.

Ah, I see now. I didn't think about that.

That explains it. If they plan on scamming from the start, it makes sense they will choose the easy route. Fortunately, there are people who will notice and alert the community.

That is "If" they are starting their new project. Not "If" they are planning a scam.

Generally speaking, all copied whitepapers are done by scam projects and they also take the money to set up a cool looking website design and a domain name to propagate their scam. Then they get caught and the registrar takes down the domain and the scammers move on to a new name. It means that they have been recycling this method to scam people for a long time and by doing so it is profitable hence they can afford to buy a domain everytime with the spoils from the last scam.

For the purpose of protecting some newbies who are curious enough but still have some logic left, I am opening a flag on the accused. Support or Oppose here - https://bitcointalk.org/index.php?action=trust;flag=2772

It's not beyond understanding, though.  Either they're lazy or they don't have the technical knowledge (or writing skills) to write their own whitepaper.  And I'm sure many of you know that a lot of people around the world don't think anything of plagiarizing something from the internet, so since there are so many whitepapers that have already been written, in remittance.finance's eyes, why waste the additional time and effort writing something from scratch when basically what they want to get across to investors has already been written?

That's not to say it's right, though, and OP is to be commended for calling them out on this.  Even if they're not a scam project (and I have no idea whether they are), this isn't a good way to start one.  It's unfortunate that I've seen examples of this so many times that I've lost track.

Props, OP.

I posted this message in the announcement thread, so you know that we've seen your concerns. Thanks for warning us.


Hi guys, thank you so much for pointing out the plagiarized parts of our Whitepaper. We truly had no idea!
Fact is that we had hired someone to do the research for the numbers in remittances worldwide and we thought he wrote his own parts for our Whitepaper, together with the numbers given by the World Bank.
We are shocked to see that it's copy + paste and we will rewrite the parts directly. And also add the links to the corresponding articles where the information is from.

We are sad to read that we directly got the label scammers by some members here, but we understand the situation. We are long enough in crypto to see the warnings and got burned by many scam projects before; Bitpetite (2017) and some other .finance projects last year.
We are sorry that our Whitepaper was a warning for you too. Our apologies, but we will re-write it and correct the mistake.


- Short message about us:
Actually, after the many burns with scam projects last year (autumn 2020) this was our idea to do it differently; start a honest project which would NOT do a rug pull. We both have girlfriends in Asia and we were both frustrated by the long transfer times (up to 3 days) and high costs for transfering money abroad. Sending 1000 euro and paying 50 euro transfer fees (Hi Western Union!) which is rediculous. So this is where our idea came from, start a service in sending fast and affordable remittances over the blockchain.

We both also love DeFi and the idea of earning some extra tokens by staking and farming them. Therefore we also added DeFi options to our project. Giving our users the opportunity to earn some extra REMIT tokens, although our APY is not 10.000% like in other projects. We simply don't have enough tokens for that and those yields only attracts whales. So we offer DeFi, but with reasonable earnings.

Our plan was also to reveal our identities from the start, but unfortunately our country does not allow us to do that in this phase. We hope we can definitely do this in the future. Especially since we want to set up a remittance service where people can transfer also between fiat and crypto, revealing ourselves will happen eventually.


Anyway, thank you for pointing out our Whitepaper! We hope you stick around to see the adjusted version!

Good day everyone,

Sorry for the wait, but it took us a while to rewrite the Whitepaper and find all necessary sources that have been used for our Whitepaper.
We also added all links in Chapter 7 Links and resources.

https://i.ibb.co/zmJhqNS/Links-Remittance-finance.jpg


You can find our adjusted Whitepaper V1.1.0 here: https://remittance.finance/Whitepaper_of_REMIT.pdf
Thank you all for your help.

Pretty for someone accused to respond to the accusations without any denying and just plain reformation. Hopefully the people who will check your whitepaper again will be able to find it spotless and not just being paraphrased because I am pretty sure that they will be able to see it.