GetGemz was it a 1.2 Million USD ICO scam? or is there some hope for gg owners?

[cryptohunter]

I sadly missed this ICO when it was running.

I like reading through the thread though because these guys seem rather open with their scam/non scam considering their id's are well known?

Did this guy really take 1.2M promising the ico investors one project then just use those funds to develop another project entirely for himself?

Or will this new paykey project benefit the getgemz investors?

If the ICO funds were not used in anyway to fund this new project where are the funds? is this telegram rebrand all you get now a days for 1.2M in an ICO?

The thread seems a mishmash of opinions? Is there a clear story here with the full facts?

Who is this Daniel I've heard mentioned? surely if his id is known he wouldn't really care to screw over so many people whilst telling them all about his new project that is looking far more successful and apparently funded by the ico investors who will not stand to benefit at all? or will they?

Very interesting project so far.

[r0ach]

If IPO = 1 then
MsgBox "Scam=Yes"
Else if IPO = 0 then
MsgBox "Scam=No"
end

[Nick70001]

Daniel started promoting GEMZ all over the place during the ICO. He was in the forum everyday and did interviews on Letstalkbitcoin. Now we don't hear a peep from him. That says a lot.

[cryptohunter]

Daniel started promoting GEMZ all over the place during the ICO. He was in the forum everyday and did interviews on Letstalkbitcoin. Now we don't hear a peep from him. That says a lot.

So what will the ICO investors do about this? I mean if his real ID is known and paykey actually does become something worthwhile.... lawyers like cases like these surely.

[BellaBitBit]

Daniel started promoting GEMZ all over the place during the ICO. He was in the forum everyday and did interviews on Letstalkbitcoin. Now we don't hear a peep from him. That says a lot.

So what will the ICO investors do about this? I mean if his real ID is known and paykey actually does become something worthwhile.... lawyers like cases like these surely.

Interesting question.  Do these people just get away with it?

I usually gauge a scam based on developer info.  Who are they and do they actively communicate.

[cryptohunter]

oh  no now the gemz thread seems to have been locked and polo are delisting it?

Seems another ICO scam bites the dust ... but will anyone be held accountable?

Who was heading up that brand of scam?

[ICOcountdown.com]

There was rumours that the getgemz app was getting huge mobile app downloads, it seems it was completely faked however.

This one only has 2k https://play.google.com/store/apps/details?id=org.getgemsmessenger.app

Seems like they gave no attempt to market the platform.

[cryptohunter]

There was rumours that the getgemz app was getting huge mobile app downloads, it seems it was completely faked however.

Yeah makes you wonder. I mean essentially the investors paid 1.6 million dollars for ....well ..not much.

Seems that funding was diverted off to his own private project. I'm hoping that becomes a large success so there is a big incentive for legal measures to be taken against them.

Another reason ALL ico funds should be held by escrows and released to them gradually as milestones are reached.

[ICOcountdown.com]

There was rumours that the getgemz app was getting huge mobile app downloads, it seems it was completely faked however.

Yeah makes you wonder. I mean essentially the investors paid 1.6 million dollars for ....well ..not much.

Seems that funding was diverted off to his own private project. I'm hoping that becomes a large success so there is a big incentive for legal measures to be taken against them.

Another reason ALL ico funds should be held by escrows and released to them gradually as milestones are reached.

Escrow is definately needed, we need more people to vet the projects. I try my best, general rule I have now is that it is not to be trusted if it's not on my site.

[x13]

Where is Daniel come from? If he comes from a developed country then you could easily file a lawsuit. Or class action lawsuit when more investors want to follow you. 1.2 million is much money, so there will be good chance to get money back.

Daniel started promoting GEMZ all over the place during the ICO. He was in the forum everyday and did interviews on Letstalkbitcoin. Now we don't hear a peep from him. That says a lot.

So what will the ICO investors do about this? I mean if his real ID is known and paykey actually does become something worthwhile.... lawyers like cases like these surely.

[cryptohunter]

Where is Daniel come from? If he comes from a developed country then you could easily file a lawsuit. Or class action lawsuit when more investors want to follow you. 1.2 million is much money, so there will be good chance to get money back.

Daniel started promoting GEMZ all over the place during the ICO. He was in the forum everyday and did interviews on Letstalkbitcoin. Now we don't hear a peep from him. That says a lot.

So what will the ICO investors do about this? I mean if his real ID is known and paykey actually does become something worthwhile.... lawyers like cases like these surely.

I'm not 100% sure but I think israel. I just can't believe there is not more being said about that scam. It is up there with the biggest on this board so far.

[Wind_FURY]

I think its founders started the project with good intentions. But seeing GetGemz that it's going nowhere and no idea how to compete with other mobile apps effectively, I think they decided to go to another direction with what money they have left from the ICO. They are desperate.

[dannyman]

Daniel has been for me the biggest asshole in crypto. I've lost a ton of money and time but more important I trusted the things that were susposed to make this a trustworthy project including traded third parties doing the ICO, registered as a company, names and address given.....but no, even legal projects can be absolute scammers at heart.....and do so legally....they are the worst cause they create trust and legally scam you and tell you it's raining while pissing down your leg....THe guy studied business law.....it should of rang an alarm bell.

[GreenBits]

i don't know 

Cookie for the day, good sir.

I love it here.

If IPO = 1 then
MsgBox "Scam=Yes"
Else if IPO = 0 then
MsgBox "Scam=No"
end

Never mind, you have to share with roach.

[Nxtblg]

There was rumours that the getgemz app was getting huge mobile app downloads, it seems it was completely faked however.

This one only has 2k https://play.google.com/store/apps/details?id=org.getgemsmessenger.app

Seems like they gave no attempt to market the platform.

Correction: It has >2,000 reviews. The total installs are somewhere between 10,000 and 50,000. See the bottom of the page.

[cryptohunter]

Daniel has been for me the biggest asshole in crypto. I've lost a ton of money and time but more important I trusted the things that were susposed to make this a trustworthy project including traded third parties doing the ICO, registered as a company, names and address given.....but no, even legal projects can be absolute scammers at heart.....and do so legally....they are the worst cause they create trust and legally scam you and tell you it's raining while pissing down your leg....THe guy studied business law.....it should of rang an alarm bell.

I'm pretty sure something could be done about him and his team of scammers. If they really believe it costs over a million dollars to produce that telegram rebranded app then that is ludicrous. They have obviously took the IPO funds and used  it for their other project.

I hope the get gems ipo investors and anyone else involved with get gemz will keep a close eye on the other projects and see if you can find lawyer somewhere to go after these turds. It currently looks like one of the worst scams on here and that is saying something.

[lawsonvl]

Remember Tom from Koinify?

The guy who "vetted" Daniel and his team in Israel before the ICO?

Nice how he vigilantly protected the community's best interests, even after going out of business.

That final milestone had 1 out of 3 conditions met. Good enough, I guess...

[Nxtblg]

GEMZ now down to 313 satoshis, if anyone cares. The coming delisting's whacked ~80% off its already-well-below-ICO price.

[KhalDrago]

gemz is done, nice scam asshole dev, he abandoned the project months ago.

[mtnsaa]

Very sad to read about this that basically confirms is all a controlled scam. Shitcoins are not what they used to be where you could spot a scam miles away. If a "serious" project like GEMZ (with real developers, apps, etc) can fall like this almost no other ones are safe. So be careful to throw your hard earned money into whatever new idea or ICO is trending, we all know it's bullshit unless you are Ethereum or something (for now of course, I trust them because the exposure is really nothing compared to others but who knows down the road).

I mean the project can fail like it can be argued in this case, the problem is that there are some proof that it was abandoned for another (funded with what exactly?) and there were promises made for investors...