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Author Topic: (GEX) - process of analyzing data  (Read 79 times)
ICOEthics
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June 15, 2018, 09:04:15 PM
 #1


GREENX - We are still analyzing this ICO- They claim it is ETHERSCAN problem updating their sales - we will keep updating our report as we receive more info.

Records show $ 274,647.77 dollars on sales  -   (update on 18/06/18 -> RECORDS SHOW 1,316 ETH SALES = OVER $600K usd)

They claim:  $ 2,023,557.11 dollars on sales   





Recently response from their team: (17/06/18)


Hi,
I have talked to the team and we would like to clarify some points with you:
1) About the addresses on Etherscan.io: there are way more than 30 addresses that holds more tokens than showed in the token holder page. We have contacted them to update the token holders page. This page has not changed at all since the first day of our pre-sale, hence, the number is greatly different to the number of tokens that have been issued to wallets. There will always be differences between the smart-contract received funds and the token slider – however, it should be a lot lower.
So, let me show you exactly which numbers you can calculate from our smart contract
Total GEX for sales
(not including bonus)        Remain GEX for sales     Sold GEX                        GEX price $      Total sold GEX $
    187,500,000.00                    180,978,848.86      6,521,151.14                    0.20               1,304,230.23

BTW, we still keep contacting with EtherScan for updating our data exactly and fully as soon.
2) Regarding the numbers of GEX shown on our website: the GEX sold included the GEX sold through private sale, public sale, commissions, and sale bonus. We have recently raised sizable private placements from family offices and HNW investors who did not pay through ETH (they are traditional investors and hence did not pay in ETH). As you may know from current market, private sale is currently stronger than public sale for many projects. Hence, we must consider the GEX tokens allocated for them to be distributed after ICO finishes because to follow ERC-20 standard, all GEX tokens are not transferable until the end of ICO. Overall, the different of the number of tokens between our smart-contract and our website is because of off-market placements, bonuses, and commissions. We don’t take into account tokens issued for bounties and airdrops.

Again, we would like to thank you for bringing this matter to us. At the end of the day, we are young people hoping to use the blockchain technology to make the world a greener place. We will work hard toward that end, which is through building our platforms and fund as many green projects as possible. We hope our answer give you clearance and continue to support our cause.

----------------------------------------------------------------------------------------------


Bellow is out posting on their page:
https://bitcointalk.org/index.php?topic=3336435.msg40198360#msg40198360   (posting # 625)



INVESTIGATION


Hello GREENX TEAM -


As you should be aware, there are pyramid schemes created by big Telegram’s Airdrop & Bounty advertiser AFFECTING the crypto community.

We are ICOEthics and our mission is to investigate claims and/or abnormalities against people or companies that are creating Fake ICOs and scamming the crypto-community.

We do follow leads to investigate and we also perform independent investigations based on listed ICOs/Tokens on diverse web sites.

Our investigation is at our own cost to help protect the crypto community, and we do not accept payments from third parties to investigate any ICOs/Tokens.



We are sorry to inform you that we found some abnormalities on your ICO/Tokens, and we would like to ask you to provide an explanation to your customers.

Please explain the following questions based on the following contract(s) listed under your name:




CURRENT TOKEN ADDRESS:  GREENX (GEX)
Address public wallet = 0xdac15794f0fadfdcf3a93aeaabdc7cac19066724
 
TOTAL SALES on your web site (graphic see picture)   10,117,785.58 GEX

Which is (  x  $ 0.20) = $ 2,023,557.116

https://icoethics.com/imgs/greenx/greenx%20chart.JPG



ON Etherscan
https://etherscan.io/address/0xdac15794f0fadfdcf3a93aeaabdc7cac19066724#readContract

It show a complete different information:

Address      0xdac15794f0fadfdcf3a93aeaabdc7cac19066724

TOTAL SALES      $ 274,647.77
(282 transactions to 30 addresses)


https://icoethics.com/imgs/greenx/greenx%20sales1%20etherscan.JPG

https://icoethics.com/imgs/greenx/green%20x%20etherscan%20sales%20chart.JPG



Please explain this situation because your numbers doesn’t match and it look like someone is inflating the sales from $274k to $2million dollars.

Your company will lose the trust of customers/investors and the community if you don’t explain and make the corrections.

You should NOT add your airdrop/bounty tokens to the sales because they weren’t sold. That will inflate the price as well.


And bellow is our Telegram conversation for the records.


Thank you!!

ICOEthics.com



https://icoethics.com/imgs/greenx/Greenx%20tel1.JPG

https://icoethics.com/imgs/greenx/Greenx%20tel2.JPG

https://icoethics.com/imgs/greenx/Greenx%20tel3.JPG

https://icoethics.com/imgs/greenx/Greenx%20tel4.JPG

https://icoethics.com/imgs/greenx/Greenx%20tel5.JPG

https://icoethics.com/imgs/greenx/Greenx%20tel6.JPG

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June 16, 2018, 04:46:01 AM
 #2

Hi,
I have talked to the team and we would like to clarify some points with you:
 
1) About the addresses on Etherscan.io: there are way more than 30 addresses that holds more tokens than showed in the token holder page. We have contacted them to update the token holders page. This page has not changed at all since the first day of our pre-sale, hence, the number is greatly different to the number of tokens that have been issued to wallets. There will always be differences between the smart-contract received funds and the token slider – however, it should be a lot lower.
 
So, let me show you exactly which numbers you can calculate from our smart contract
Total GEX for sales
(not including bonus)   Remain GEX for sales   Sold GEX   GEX price $   Total sold GEX $
                                                    187,500,000.00                    180,978,848.86      6,521,151.14                    0.20               1,304,230.23

BTW, we still keep contacting with EtherScan for updating our data exactly and fully soon.

2) Regarding the numbers of GEX shown on our website: the GEX sold included the GEX sold through private sale, public sale, commissions, and sale bonus. We have recently raised sizable private placements from family offices and HNW investors who did not pay through ETH (they are traditional investors and hence did not pay in ETH). As you may know from current market, private sale is currently stronger than public sale for many projects. Hence, we must consider the GEX tokens allocated for them to be distributed after ICO finishes because to follow ERC-20 standard, all GEX tokens are not transferable until the end of ICO. Overall, the different of the number of tokens between our smart-contract and our website is because of off-market placements, bonuses, and commissions. We don’t take into account tokens issued for bounties and airdrops.

Again, we would like to thank you for bringing this matter to us. At the end of the day, we are young people hoping to use the blockchain technology to make the world a greener place. We will work hard toward that end, which is through building our platforms and fund as many green projects as possible. We hope our answer give you clearance and continue to support our cause.
ICOEthics
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June 16, 2018, 12:13:21 PM
 #3

Hi,
I have talked to the team and we would like to clarify some points with you:
 
1) About the addresses on Etherscan.io: there are way more than 30 addresses that holds more tokens than showed in the token holder page. We have contacted them to update the token holders page. This page has not changed at all since the first day of our pre-sale, hence, the number is greatly different to the number of tokens that have been issued to wallets. There will always be differences between the smart-contract received funds and the token slider – however, it should be a lot lower.
 
So, let me show you exactly which numbers you can calculate from our smart contract
Total GEX for sales
(not including bonus)   Remain GEX for sales   Sold GEX   GEX price $   Total sold GEX $
                                                    187,500,000.00                    180,978,848.86      6,521,151.14                    0.20               1,304,230.23

BTW, we still keep contacting with EtherScan for updating our data exactly and fully soon.

2) Regarding the numbers of GEX shown on our website: the GEX sold included the GEX sold through private sale, public sale, commissions, and sale bonus. We have recently raised sizable private placements from family offices and HNW investors who did not pay through ETH (they are traditional investors and hence did not pay in ETH). As you may know from current market, private sale is currently stronger than public sale for many projects. Hence, we must consider the GEX tokens allocated for them to be distributed after ICO finishes because to follow ERC-20 standard, all GEX tokens are not transferable until the end of ICO. Overall, the different of the number of tokens between our smart-contract and our website is because of off-market placements, bonuses, and commissions. We don’t take into account tokens issued for bounties and airdrops.

Again, we would like to thank you for bringing this matter to us. At the end of the day, we are young people hoping to use the blockchain technology to make the world a greener place. We will work hard toward that end, which is through building our platforms and fund as many green projects as possible. We hope our answer give you clearance and continue to support our cause.




Hello GREENX Team,

Thank you for your information. Our Audit will analyze your data again once it is fully updated, and we will let you know.


Regards,

ICOEthics.
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June 18, 2018, 01:52:16 AM
 #4

Hi,

I believe you have discussed with our CTO and he has spent time explaining the technicality that we have with Etherscan token holder page. We have prepared several files to help you check these numbers from EtherScan directly. I hope that our clear communication and responsive reply to all shows our integrity and hard-working attitude.

Please see our EtherScan Guideline and XLS exports from EtherScan to prove our numbers.

As you can see in the guide and accessing the data, the number of transaction holders and total fund raised are a lot higher than it is shown in the token holder page. We don't know what cause the problem for that page not updating - however the transaction page is the most accurate place to check - and currently we have to do it manually.


I hope this closes out our matter. You can continue to monitor our progress and project development. I believe there is no better way to prove ourselves than doing the following: 1) get GEX listed (which we have already signed with Exrates) 2) Get projects on our platform (which we have signed with many companies - check our Medium announcements) and 3) release our software - which we are releasing the Prototypes in the next few weeks and working MVP very soon after ICO.

Regards,

GreenX Team
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