Tks TN, this passed me by completely. Let's see what I can find....

Pls lock it OP, I see sig seagulls circling....

What is this captioning 

https://www.theblockcrypto.com/post/46408/little-known-asian-crypto-exchange-vindax-got-hacked-lost-half-a-million-usd-worth-of-tokens


Of course, because it's totally the devs fault that their shitcoins got stolen because of VINDAX's poor security right?


Why do Indians love shitcoins so much?


But when you have your SWAT shitcoin hat on, you think they're great!

St. Vincent and the Grenadines to be precise.
Suite 305, Griffith Corporate Centre, 1010, Beachmont, Kingtown to be exact, what a small world it is....

What are you doing with the forum name Bitcoin SV anyway? Are you pretending to be some official representative and not just the two bit invested shill that you are?
SV seems to be riddled with people pretending to be something they aren't.
Fuck off.

No-one likes anything to be marked "bad", but surely "unhandled" (as the duplicate report is literally unhandleable) would be more appropriate in those circumstances?

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Rock on  

This doesn't necessarily apply to your question, but I am under the impression that if one mistakenly reports a post twice (as I have done when working down a succession of spam posts) then the duplicate report will be marked as bad.
So maybe, if your report is processed after the post has been deleted, either by the OP or another mod, the report gets marked as bad?
Doesn't sound likely but idk.

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I'm nearly at 4k good reports in 5 years, but I avoid low hanging fruit.

Nothing personal my friend, just asking for some clarity. I hope people don't think I'm FUDing because I'm not.
I live and invest by my Sig. 

I don't misunderstand the bolded quote, I disagree that it's true, especially the part that says

Because you can't, even theoretically.
Here's why:
1) The physical gold in the vault is stored under a certificate in the name of Digital Gold, not yours. They own the gold. Period.
2) The physical gold is stored in 100g bars, so if you buy 50 tokens, what do you own? Half a bar? Half of which bar? Neither. You own 50 tokens.
3) If you live in/travel to Singapore, can you walk into the bullion office (a facility they offer), present your tokens, pay the $100 admin charge, and walk out with physical gold? No.
Digital Gold have stated quite clearly
This implies, by their use of "now", that this situation may change. Because of the points in 1) and 2), I don't see how it can. Or, more to the point, whether they want it to.

Redeemability for physical is not a "feature," it's a fundamental aspect of the project and any investors should be very clear on exactly what they are buying when they buy a [GOLD] token and that is a token, nothing more.
I don't claim that that necessarily makes this a scam or anything of the sort, but I can't help but take issue with the project admin on this subject, as they have made equivocal statements regarding this.


For example, the use of the word "redeemed" in reference to tokens. You "sell" tokens everywhere else.
More blatantly, in their T&C's


That's bordering on disingenuous, you are not the owner of that gold, you are the owner of a token issued by a shell company which owns gold. That's a big difference.


That's correct, and has been my point all along.
It does beg the question however, what happens in the "Worst Possible Scenario"?
The WPS being that we wake up one morning and all the gold has been legally collected from the vault by Digital Gold Ltd. representatives on presentation of their Vault Certificate at the bullion office, and they've walked off down the street with it.
The current stock would fit in cabin luggage.
Remember, every gram of physical gold has already had 100% of its value realized by Digital Gold Ltd. by the sale of [GOLD] tokens, but they still retain legal and physical ownership and possession of it.
Cute.
What are the tokens worth in that scenario?
What is the smart contract worth then?
What do you, a token holder, do to track down the anonymous Digital Gold Ltd. team that "consists of highly skilled and experienced group of experts in finance, banking, legal, wealth management, IT and blockchain industry"?
Do you go to their registered office in the St Vincent and Grenadines? That's Suite 305 in the Griffith Corporate Centre, an address shared by many controversial companies?
Or do you phone their Hong Kong phone number, which runs on Central European Time?

That was quite an amusing interlude on the forum, but I doubt whether it was all quite as simple as that.

Well, you guess wrong, my friend, I both understand and have read the "concept".
When you buy a [GOLD] token, all you own is the token, nothing else.
And those tokens are not redeemable for physical gold.
Got it?

Read this, just the bolded bits, that should be easy for you:

Just a little taster of the testimony being given today by Konstantin, Ruja Ignatova's brother.....



Courtesy of https://twitter.com/innercitypress/status/1192084267901345793

Your rhetoric is getting the better of you again. 
The difference, crucial to some, is that you physically possess real gold, you own GOLD, not a [GOLD] token, which is an IOU, a derivative.

Anyone wanting to research or read up on this incredible story could do worse than searching https://behindmlm.com/ which has been covering this scam for over five years, going right back to its origin in Bigcoin.
They are currently reporting on the trial of Mark Scott, the money laundering lawyer mentioned in the OP, and the latest is that Konstantin Ignatova, the Cryptoqueen's brother (currently held in the US on money laundering charges himself) has turned state's evidence in that case. Both Scott's and Ignatova's defenses appear to be based on "we didn't know it was a scam".
The trial is also being live Tweeted here.

They used to do the most outrageously brazen shit, a small example was faking CMC ratings (those were the days, BTC @ $428....)

No, this is $4.9 billion in real fiat money, taken in payment for (plagiarized) crypto "education" material which, depending on the amount spent, came with some Onecoins, the "value" of which always increased.....
It is the biggest example of my bete noir MLM (Multi Level Marketing) schemes ever; I posted about it here back in the day but people turned up their noses at it as not a real cryptocurrency, which was exactly the point.
It's a fascinating and depressing story which will no doubt make a great film one day, and the BBC podcast series is well produced and well worth a listen.

The Cryptoqueen (she used to refer to Onecoin as the "Bitcoin Killer") is either in said warm country right now (Dubai), or the concrete footings of a Bulgarian bridge, leaving her brother as a guest of the Feds as we speak.

And read the posting rules, esp. re: consecutive posting.

Here's the actual judgment.
It appears to gut Veritaseum, taking 'Frozen Bank Assets' and 'Frozen Metals' to the value of the judgment. This would presumably lead to Veri defaulting on existing contracts.
IANAL but it's difficult to see how there's any future for Reggie in the digital asset world, given his permanent disbarment from "engaging in any offering of digital securities."


The Fair Fund is for reimbursement of losses suffered by "harmed investors" due to Reggie's admitted fraudulent behavior, not just for a blanket refund. Maybe someone who FOMO'd @ $90 will qualify, seeing as it's been agreed in the settlement that he manipulated the price.
As for "current prices", I don't see too many buy walls on Mercatox.


Perhaps, but Occam's Razor says he's f*cked.

Why are you allowed to spam this dead shitcoin on this thread? Are the two projects related?


That's a reasonable question, especially if one is naive enough to believe the p2p 24 hour volume of >11BTC..... 

This is a classic strawman argument based on the false premise that "Everyone else is doing it" so VINDAX shouldn't be criticized for wash trading. It's one of many credibility problems that the shit token market has.
Another is this, releasing self written Press Releases and then implying that it is somehow "News Coverage"



It would be good if that were so. Unfortunately it isn't, mainly due to the naked hype and untruthful marketing that has destroyed the altcoin market's credibility to such an extent that it is now just a playground for pump and dump scammers.

Ahh, I didn't realize that. Why do they need eight exchange listings? That's spreading liquidity unnecessarily thinly for such a token imo.


Yeah, that would be good.