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Author Topic: ARC Iris Hydrogen- Suspicous Cloud mining project  (Read 285 times)
Rikafip
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February 05, 2020, 10:41:11 AM
Merited by TMAN (2), Daniel91 (1), Lucius (1), nutildah (1), ETFbitcoin (1), tmfp (1), TalkStar (1)
 #1

First time i found about ARC Iris Hydrogen was  few weeks ago, when i was checking group of accounts involved in Ann thread bumping, but at the time i didn't check much about it. I kept seeing their Ann quite active, with bunch of newbies spamming that thread, so i decided to check it out a bit.

📢[ANN]🌟 Arc Iris Hydrogen - Green Coin for Profitable Bitcoin Mining Globally
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Arc Iris website




Several things seems to me like a warning sign to stay away from this:

-First, it is obvious that they are using Ann thread bumping service, as their thread is filled with low activity newbie accounts faking interest and conversations. Out of 350+ posts made there so far, something like 340 were made by newbie accounts, most of them with up to 14 activity. Those accounts are working on several other Ann threads as well. Why would legit project do something like this, especially considering  that this tactic doesn't work anymore, and can only draw (negative) attention to the  project?

-ARC Iris Hydrogen is cloud mining project, and I have yet to see one of those cloud mining companies to be legit. Just this should be enough for everyone to stay away from this, but people still like the idea, especially when buzzwords like "environmentally friendly mining" are used, like in this case and promising huge save in electricity.

-ARC Iris team core team (CEO, CFO, COO) is also behind  Alpha-X, project that had IEO on P2PB2B in September 2019, but by the looks of their social media, it looks pretty much abandoned, no activity  there for months. And now they moved on to yet another project.

-In their team, on their website and whitepaper, Kazi Sajib is listed as bounty manager. This person is known on this forum with this bitcointalk account. If you check his Trust, you will see that he was involved in several shady things like  wanting  to rent high ranking accounts in order to join signature campaign.

-Among their advisors is Hamza Khan. He is CEO of known scam Stellar Gold, and advisor of other scams like Cryptoknowmics, and recently discovered AoSPooling, among others. With him, you can usually find Rubab Arshad, another one that  doesn't choose  much who to advise ( beside Arc Iris she is also in Cryptoknowmics and AoSPooling). My question is, what kind of advice can give you person that is CEO of known scam?

-Ridiculously high bonuses and discounts. Base price of their token is $0.1, but currently they have 50% discount, making the price $0.05. On top of that, they offer up to 100% bonus, depending on the amount invested.

-In the Testimonials part of their website, their investors share their opinion about the project:
"I am excited about this technology and I feel good when I can protect the environment while I create Cryptos through Arc-Iris cloud-mining." by Oliver K.
"Environmental protection, high profits and the chance of a significant increase in the value of the ACI-Coins convinced me immediately and I invested in this innovative and grateful project" by Elena Bennet
Those two are part of their other project, Alpha-X, and i find it kinda weird that they use them for investor testimonials.


tl;dr:
Using bumping services
Cloud mining
Including scammers and  shady characters in their team
Crazy high bonuses that will probably cause massive dump


My question is, are all these things enough to tag projects like this, or there is not enough proof here that something dodgy is going on here?


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Lucius
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February 05, 2020, 02:38:32 PM
 #2

For me personally, there is nothing fair in what this project represents, everything points to another in a series of scams when it comes to cloud mining. The only thing missing is that someone really complains about being cheated, but this is a relatively new project, so something like this is unrealistic to expect at this point.

As you found out, there is no real interest in this project - it's a fake discussion generated by bots, it's likely the whole team is fake. I hope a good number of the forum users know what really is cloud mining, and that they would not believe that this case was any different from the others.

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February 05, 2020, 04:24:35 PM
 #3

-ARC Iris Hydrogen is cloud mining project, and I have yet to see one of those cloud mining companies to be legit.

A company that runs an ICO, no!
Legit mining companies yes, there are a few, like bitdeer for example who has bitmain behind it.

But this one is a pure scam and as Lucius said, it seems like even bounty hunters are not falling for this one.
The rule with those is simple, show me the gear! They have nothing!

Quote
We will collect funds, develop our technology and built mining farm. We mine environmentally friendly and profitable all mineable coin and also ACI-Coin for sure. Not only the company have benefit but also the miner by themself.

Seriously, who is going to believe that?
Let's not even talk about the whole "hydrogen" stuff.

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February 05, 2020, 04:45:03 PM
 #4

I saw their website and apparently they also offer multi-currency wallet. Since this project obviously a joke scam, maybe it's noteworthy to emphasize that the multi-currency wallet most likely will scam the user as well.

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February 06, 2020, 01:13:59 AM
Last edit: February 06, 2020, 01:50:34 AM by tmfp
Merited by Rikafip (1)
 #5

tl;dr:
Using bumping services
Cloud mining
Including scammers and  shady characters in their team
Crazy high bonuses that will probably cause massive dump


My question is, are all these things enough to tag projects like this, or there is not enough proof here that something dodgy is going on here?

Personally, I feel like tagging them just for writing this shit (and for "partnering" with P2PB2B)

Quote from: website
Our system focuses on the synergy effects of solar power and the recently rediscovered energy sources, hydrogen. Almost unrestricted access to these primary energy sources is a guarantee of success for our mining technology.

My minor contribution to trashing this crap is the observation that, despite using a London virtual office to register a limited company*, their T&C's stipulate that any disputes
Quote
concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed by  and construed and enforced in accordance with the laws of Martial Islands.
 
Well, I know the UK's just Brexited and stuff, but I thought referring to them as the martial islands was a bit strong.
But they corrected the spelling
Quote
the respective claim to the binding arbitration administered by the competent court of Marshal Islands.



When I have doubts about projects I tend to share them on their actual thread, so I suggest you crosspost your findings onto their [ANN] so there is a reality check for any "real" members who be tempted by this nonsense and its shill posts.
You never know, they might even respond to your points, it's always fun when they do.
Good find.



THE MERCATOX CONNECTION

Mercatox is an exchange that been around for about three years and has, shall we say, a chequered history (search time) but is still going. It's always been referred to as a "UK exchange" for no other reason that I can find than their Uk company registration.
More of that further down.

The ARC Iris UK limited company I referred to above* is ATB INVEST LTD, the director of which is Ronald RODRIGUEZ LEON, listed as Costa Rican (and his LM Management SA company).
Ronald RODRIGUEZ LEON is "active" in UK company registrations, he's been a director of 30 different ones since 2015. A perfectly natural occupation for a Costa Rican, cómo no?
One of his thirty companies was renamed only yesterday, to the catchy title of 10463744 LTD (thus copying its registration number.  Huh  I've been doing this for years, first time I've seen that).
They also changed their address and Sr. Leon resigned as director.
They also backdated his resignation (yes scammers of the world, you can do that sort of shit with UK company registrations) to last year.
The company used to be called MERCATOX LIMITED....




Extraordinary Claims require Extraordinary Evidence
Rikafip
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February 06, 2020, 07:43:22 AM
Last edit: February 06, 2020, 09:01:41 AM by Rikafip
 #6


A company that runs an ICO, no!
Legit mining companies yes, there are a few, like bitdeer for example who has bitmain behind it.
Thanks for the info, good to hear that there is someone legit in that business. But yeah, so far  all those mining ICOs are  proved to be 100% scams in making. That's why they add this hydrogen mumbo jumbo to sound advanced or whatever.
Regarding bounty hunters, i don't share your optimism, as from what i can see, their bounty campaign seems quite popular. But that's not surprising really, as average bounty hunter don't care about this kind of things, as seen before.


When I have doubts about projects I tend to share them on their actual thread, so I suggest you crosspost your findings onto their [ANN] so there is a reality check for any "real" members who be tempted by this nonsense and its shill posts.
You never know, they might even respond to your points, it's always fun when they do.
Good find.]
True, i usually do that, but this time i somehow thought that OP won't respond as he hasn't been active for some time. But will do it now, thanks for reminder, as you said their responses and excuses  are usually interesting  Wink

Good find about that Marshall Islands-UK registration discrepancy, another thing that doesn't make much sense in this pipe dream of a project.

Regarding Mercatox, yes i saw that connection when i saw that they Arc Iris have London office, as i usually like to check Companies House to see what I can found there, habit from checking all those ponzies that like to boast with Certificate of Incorporation. That Ronald Rodriguez Leon name popped up and then  I checked Mercatox a bit, but i couldn't find anything suspicious about that exchange, no scam accusations on bitcointalk or similar stuff.

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