🔴[Warning] ZEEW ICO increased total supply from 20 million to 400 Million🔴

I have noticed today ZEEW ICO has change their total supply from 20 million to 400 million Roll Eyes

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Website: https://ico.zeew.eu/
Archive: http://archive.is/HtOUr

Bounty thread: https://bitcointalk.org/index.php?topic=2941275.0

Archived: http://archive.li/VQgdF

I have asked them their telegram group. They try to explain me on inbox but I didn't received appropiet answer.

According to their website news I am able to find their existing contract address.

Quote

We have therefore decided to increase the token supply to 400,000,000M tokens, up from 20,483,871M

Previous contract address : https://etherscan.io/token/0x6278ae7b2954ba53925ea940165214da30afa261

Current contract address: https://etherscan.io/token/0x83bf7c56cc8175ba8f3554b1aa12461c760b8b94

Their news about increase token here: https://ico.zeew.eu/news/25#Home

Archived: http://archive.is/zt5JJ

They published news on 18 July 2018 . Remaining day for ICO ends less than one month. Why they feel total token supply need to increase from 20 million to 400 million. They have described about it on their news page. This is valid reason ? I don't think this is enough reason. Please read their news so you will be understand.

According to them they was made a voting poll on telegram & 90% vote was positive for increase. May be it's true. Because they cleverly give X42 to their existing buyer so they vote for positive.

They increase total supply from 20 million to 400 million
They change Ticker from ZEEW to ZEWT

I have noticed they have made transfer from old contact address 3 days ago.

Why I post this thread, I will describe below. I need to open eye of investors what might be happen and why they increase total supply.

Crypto market was bear & their token price was 1 EUR so investor was not encourage to buy their token. This was too high price on current market situation.For that reason they increase total supply decrease price to attract investor. They keep hard cap same as before.
They might be skip after raise fund. Even not skip & listed on exchange, token holders will be on loss. Because there will be not buyer on exchange due their high supply.

I question about token holder loss after listed on exchange. Their answer is they will not scam and due to cheap price there will be many trader to trade their token on bear market. But Problem is I checked their community on social media as well, there is no strong community. I can't believe their follower on twitter only 264 . So who will trade if there is no community. What is the value of ERC20 token if no strong community ? After listed there will only seller , not buyer . So automatically price will drop from ICO price.
They try to convince me they have strong business bla bla.... It's not impotent what business behind of project. It will not help increase token price if no strong community. Because total supply is huge. Anyhow I can't accept it total supply increase from 20 million to 400 million. It's not a small amount.

BTW, I just share what is on my mind, there is always some fool buyer on market and they will buy. We can't prevent them. Let them ready for loss. I am not going to buy this kind of token ever.

I would like to request DT members, if possible Please consider a tag to bounty poster ZeewRep . This account controlled by themselves. So that hunters and investors will aware about that case. Even they not scam but it will be one of worst shitcoin