Ascendancy IPO Turned Into a Scam - Investigation in progress

[SEOcrypto]

The website is down or maintanance?
I can not open it. Any problem?

404 "dev" not found

301 / http://scam.com

OMG, I think so. its scam,
how about escrow? The balance is safe?

Unclear what will happen to the funds sent to escrow.

scammers ran with the BTC deposited today.

[Wolf Rainer]

The website is down or maintanance?
I can not open it. Any problem?

404 "dev" not found

301 / http://scam.com

OMG, I think so. its scam,
how about escrow? The balance is safe?

Unclear what will happen to the funds sent to escrow.

scammers ran with the BTC deposited today.

Seems like scammers ran away with ALL the money. The escrows are saying 75 btcs got stolen.

[SEOcrypto]

The website is down or maintanance?
I can not open it. Any problem?

404 "dev" not found

301 / http://scam.com

OMG, I think so. its scam,
how about escrow? The balance is safe?

Unclear what will happen to the funds sent to escrow.

scammers ran with the BTC deposited today.

Seems like scammers ran away with ALL the money. The escrows are saying 75 btcs got stolen.

Hate to see that. 

Investors - this is an unfortunate, expensive lesson.  like misplaying a poker hand.  won't do any good to beat yourself up.   learn and move on.

[bangomatic]

Exchange Update

We have been in active contact with a number of exchanges regarding exclusivity during our trading period July 2017 --> January 2018.
During this period you will be able to trade your IPO token on your Ascendancy IPO panel to the exclusive exchange.
This will allow you to trade your IPO token before a public product is released.
The exclusivity will end when Ascendancy is publicly released and more exchanges could add Ascendancy.

We will reveal more details on this when we have an update.

I'll be waiting sir
more precisely when ICO will end. If in July. It feels very long
Please detail the right back your information sir.

March 10th 2017 is the end of the IPO, We estimate that the decentralized network will be running by July and trading will be available via our site, The whole product of Ascendancy which includes frontend UI, Better interface for node server, API and the SDK wont be finished until Q4 2017 or Q1 2018.

Richard Aldridge

ASC tokens after the IPO will be available on your website only and the real exchanges will be released at the end of 2017 or at the beginning of 2018?
There will be your internal(domestic) exchange for ASC token only? And who can be sure that you will modify all of your products till a logical conclusion?

I will have Richard to explain this for you.

20BTC good job, but looking at the 2000BTC target this represent 1% of the projected fund, there is miles to go for the team to reach their ICO funding objectives

Our goal is 480 BTC and the project will keep going even if the goal isn't reached.
 
Sure, this is only about 4.3% of that goal but it's 5 weeks left of the IPO and I believe we can reach it.

SEEMS LIKE YOU STOPPED THIS ICO EARLY.  

I HOPE U GUYS GET BUSTED.

[CryptoMrM]

This is the stated escrow address: https://blockchain.info/address/3627Ns72j7DpGg6tcLdrrc8AvLJ2WKStY4

7 BTC in it.

The escrow agreement states: "We will be using a 3-of-4 multisignature address, where each escrow will have a key and Andrew & Richard will share one."

Therefore I believe the combined escrows should still have access to them.

The question is whether the 7 BTC should be given back to the original investors they belong to or whether it should be split evenly between all investors.

If I'm honest I believe it should be the former (back to original investors) as, if it was me, I would have invested knowing my funds would be secured in the escrow.

However I doubt that will happen as in the past it's been shown that often scam/hack losses are aggregated across and everyone gets punished.

I'm interested in what the Escrows decide.

[cokkapaga]

oh shitt.. the developer team is fake?
don't be easy to believe anyone. yes, this is a good reminder. we need be carefull to investment in the ico at the moment.

[Wolf Rainer]

This is the stated escrow address: https://blockchain.info/address/3627Ns72j7DpGg6tcLdrrc8AvLJ2WKStY4

7 BTC in it.

The escrow agreement states: "We will be using a 3-of-4 multisignature address, where each escrow will have a key and Andrew & Richard will share one."

Therefore I believe the combined escrows should still have access to them.

The question is whether the 7 BTC should be given back to the original investors they belong to or whether it should be split evenly between all investors.

If I'm honest I believe it should be the former (back to original investors) as, if it was me, I would have invested knowing my funds would be secured in the escrow.

However I doubt that will happen as in the past it's been shown that often scam/hack losses are aggregated across and everyone gets punished.

I'm interested in what the Escrows decide.

They should give people money back, thats the only reason people invested in the first place.

[Sharma]

If the total funds the received was 7 btc,how they run away with 75 btc?
Wasn't the funds were with escrow?

[realm]

the question is , did the investors know that the payments are not sent directly to the escrow?

[btvGainer]

Quite unfortunate and sad that they run away with investors money.Its time we should do something to prevent these scams or this will shake the investors confidence in all crypto projects

[kampretkabur]

Its scam? There were escrows, right?

[Bitsyo]

the question is , did the investors know that the payments are not sent directly to the escrow?

Well this is a cluster fuck for sure. Knew it or not someone will be held accountable we are talking about what $70,000+ here not a few hundred dollars (by law this is treated differently than a minor steal). I'm sorry to say, but when escrows took over their job they took over responsibility and should do their due dilligience (get some proof before taking a job - ID or something). Cmon 3 community trusted escrows and no one did any kind of info check before this (even in private) seems irresponsible. I'm not pointing fingers or blaiming, but sooner or later someone will need to take over responsibility.

Good luck to all participants I hope this gets resolved and real scammers IDs get posted here there must be some trail and with $70,000+ gone a lot of angry investors will be doing a lot of digging to get to the bottom of it - remember to some it's not so much about money, but about principle.

[Wolf Rainer]

Quite unfortunate and sad that they run away with investors money.Its time we should do something to prevent these scams or this will shake the investors confidence in all crypto projects

Theres not 100% secure method, in this years we tried all. Dont you remember coinsource and the other Chinese site verifing the identity of coins staff? They failed hard. The next thing was using exchanges for the icos, and we got scammed by c-cex, bittrex, Cryptsy, and so on. And now the method is using the forum escrows, but its the same cause even escrows can be fooled.

[malcovixeffect]

im glad Joel didnt garnered enough trust in the forum 

Okay then...?

I knew it, i knew your stinky team is shady and will scam hahahaha!!

[whynotbit]

Baskin robbins!

So they took what they got within 8 hours before auto trans to escrows...

This money is gone, I get it, but what about before that

Can I get my escrowed investment back somehow??

f@cking Gallaghers

You will have to see that with the escrows in charge of IPO.
Curious of the end for the ones in escrow. (I was part of the 8h scammed hehe)
All in escrow, feel free to say whether or not you were refunded.

Not valuable escrow security actually, I honnestly did not see that 8h sequence and the fact the money passed through one of the founder's adress meanwhile. Quite smart, even if done pretty basically.
Crypto World is harsh, better learn fast and stay focused (not like me today lol).
Facts are essential for any decent project, as to the project but also to the founders and team.

[malcovixeffect]

wasn't darkstar and Joel butt buddies?

[CryptoMrM]

Quite unfortunate and sad that they run away with investors money.Its time we should do something to prevent these scams or this will shake the investors confidence in all crypto projects

Theres not 100% secure method, in this years we tried all. Dont you remember coinsource and the other Chinese site verifing the identity of coins staff? They failed hard. The next thing was using exchanges for the icos, and we got scammed by c-cex, bittrex, Cryptsy, and so on. And now the method is using the forum escrows, but its the same cause even escrows can be fooled.

A-lot of crypto is done on good faith. I wish people wouldn't blame the escrows. The arrangement was clear for all to see and enquire about.

If the total funds the received was 7 btc,how they run away with 75 btc?
Wasn't the funds were with escrow?

Read my previous posts.

the question is , did the investors know that the payments are not sent directly to the escrow?

Probably not, the illusion caused by them saying 'we've secured escrows from trusted community members'.

[whynotbit]

Actually when you look at the Escrow arrangement and graphic, it is said nowhere that there is an 8h gap where the founders have the control and not the escrows who should need to approve any withdraw of funds.
So the escrows have been much more than careless and not informing of this "little" oblivion, which for this specific activity that is backing and securing a project is irresponsable and not trustworthy to my opinion.

[DarkStar_]

wasn't darkstar and Joel butt buddies?

No. We barely even talked, if ever.

im glad Joel didnt garnered enough trust in the forum  

Okay then...?

I knew it, i knew your stinky team is shady and will scam hahahaha!!

Me, sparkIt and superwoot had no knowledge of the scam, as we were hired and promised a share of the IPO funds.

the question is , did the investors know that the payments are not sent directly to the escrow?

It was said in the agreement that funds would be forwarded every 8 hours.

This is the stated escrow address: https://blockchain.info/address/3627Ns72j7DpGg6tcLdrrc8AvLJ2WKStY4

7 BTC in it.

The escrow agreement states: "We will be using a 3-of-4 multisignature address, where each escrow will have a key and Andrew & Richard will share one."

Therefore I believe the combined escrows should still have access to them.

The question is whether the 7 BTC should be given back to the original investors they belong to or whether it should be split evenly between all investors.

If I'm honest I believe it should be the former (back to original investors) as, if it was me, I would have invested knowing my funds would be secured in the escrow.

However I doubt that will happen as in the past it's been shown that often scam/hack losses are aggregated across and everyone gets punished.

I'm interested in what the Escrows decide.

We are talking about it in a Telegram right now, with all the escrows and people involved in the project. We were thinking about returning everything save proportionally from what was in the escrow funds, but it's kinda hard to prove how much each person invested.


We will be releasing a statement later.

[altcoinrich]

People get screwed again in another scam ico which is similar to DECLOUD fake escrow? Poor investors you are scammed again!! Sorry sorry for your bad brain, it is obvious a scam since day 1, at least I can detect it.

@darkstar, real ICO won't share ICO fund to the person except co-founders, only pay salary to general staff. Another scam: bitcoingo, also claimed a share of fund, and turned out to be a scam. DECLOUDS too.