I am a veteran crypto investor, member of this forum and ICONOMI ICO investor. I have created a new username for this post, so my original account is not to be bullied or pressured. The ICO world as we all now to well is fast and furious and many companies doing ICOs are overwhelmed by tremendous instant success so it is my habit to give a year to consolidate and make their business sustainable and their coin price out of initial speculation hype.
I gave ICONOMI the same benefit but after a year some questions that were circulating their thread here on Bitcointalk.org, their Slack channel and their Reddit were left unanswered or the answers the team provided were incoherent and sometimes contrary to their previous answers, such as
where is ICONOMI Inc incorporayed,
who are the people handling our investments and why are their hiding their terrible track record with running financial funds in the past together with possible links to a $100M ponzi scheme. I have used the official channel to gather these concerns and give ICONOMI the opportunity to provide the answers in their
October AMA. Community has voted my two questions as #1 and #2 question with 120 upvotes each.
Their answers were dodgy, they avoided the questions. Five minutes later I was banned from /r/ICONOMI by Jani Valjavec, one of the cofounders, claiming I cause fear, uncertainty and doubt in ICONOMI community.
A few days later my ICONOMI account got locked up with a message that it is in violation of their Know Your Customer (KYC) and Anti Money Laundering (AML) policies. I previously passed KYC by providing the copy of my government issued ID. Event though they claim they are incorporated in St. Vincent and Grenadines, they have requested that I pay a personal visit to their Ljubljana, Slovenia office. I am now stuck in Catch 22. Because I wanted to gather more information about the company to ensure the safety of my investment, my investment is now locked and I lack the information on whom to escalate the issue, other than paying a visit to their HQ, which is bit to Scorsese like for my taste. A week later my 0.3 BTC of assets or ~$2200 are still locked.
My October AMA questions received ~20 downvotes each in the last week, even though it is not sticky anymore.
With ICN price in a free fall,
under the supposedly paper value of the company (although arguably there is no paper and no company) and
their fiat burn leaving them with 3 quarters before they run out, you might want to consider the value of your investment and act accordingly. Although the team is carefully censoring their public channels and paying for op eds in visible media, once the scheme begins with a crack down on their users this is a sign it has entered it's 3rd ponzi scheme phase. 4th and the last one is the one where everyone looses whatever is left of ther investment.
