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Author Topic: Warning- Nifex Exchange plagiarized whitepaper  (Read 460 times)
sharos (OP)
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May 07, 2020, 06:46:09 AM
Last edit: May 07, 2020, 07:56:15 AM by sharos
Merited by tamim101001 (2), witcher_sense (1), Rikafip (1)
 #1

Project information:
  • Name: Nifex Exchange
  • Website:
https://www.nifex.net
  • Whitepaper:
https://nifex.net/wp-content/uploads/2020/03/NIFEX-EXCHANGE-WP.pdf

What happen: plagiarized whitepaper

plagiarized from: bitmax.io, Binance, bitchainnet-exchange
bitmax.io: https://bitmax.io/static/whitePaper_EN.pdf

Quote
Nifex Exchanges whitepaper 1st page


With the explosive market development of cryptocurrency industry, digital asset
exchanges trading platforms have evolved to be one of the most important parts of the
blockchain industry. They support the increasing market demand for trading and playing
the significant role of connecting primary and secondary markets for all the market
participants from those involved in venture capital to institutional and retail investors, and
ultimately facilitating the capital injection mechanism in the cryptocurrency ecosystem.
The economic model of blockchain technology is built upon digital tokens and the
consensus mechanism- digital tokens unlock the economic value and activate the internal
ecosystem of the blockchain; while the distributed consensus mechanism ensures the
efficiency of the operating platforms. The incentive system aligned with business model
and economic interests of key stakeholders is the core driver to the development of
blockchain projects in the cryptocurrency economy.
The blockchain technology has emerged as the core system and tools in support of
autonomous management. After Satoshi Nakmoto established a set of general rules in his
2008 white paper “Bitcoin: A Peer-to-Peer Electronic Cash System”, the entire blockchain
community has built upon a decentralized approach, further gradually evolving into a
distributed autonomous system. Similar to the traditional market economic system, the
distribution of products is dependent upon the quantity and the output of resoures and
supporting processes; whereas the right of usage, ownership and right to operate
together with investors, shareholders, employees, and customers are fully integrated in
the blockchain eco-community. As a result, all the participants would share the benefits of
ecosystem development and support better utilization of resources, in order to create a
virtuous cycle of profitability and sustainability. The recent development and expansion of
the blockchain ecosystem has ushered in a new era of the distributed autonomous
economy over the traditional economical forms of both capitalism and socialism.

Quote
BitMax.io whitepaper 1st page

With the explosive market development of cryptocurrency industry, digital asset
exchanges / trading platforms have evolved to be one of the most important parts of the
blockchain industry. They support the increasing market demand for trading and playing
the significant role of connecting primary and secondary markets for all the market
participants from those involved in venture capital to institutional and retail investors,
and ultimately facilitating the capital injection mechanism in the cryptocurrency
ecosystem.
The economic model of blockchain technology is built upon digital tokens and the
consensus mechanism- digital tokens unlock the economic value and activate the internal
ecosystem of the blockchain; while the distributed consensus mechanism ensures the
efficiency of the operating platforms. The incentive system aligned with business model
and economic interests of key stakeholders is the core driver to the development of
blockchain projects in the cryptocurrency economy.
The blockchain technology has emerged as the core system and tools in support of
autonomous management. After Satoshi Nakamoto established a set of general rules in
his 2008 white paper “Bitcoin: A Peer-to-Peer Electronic Cash System”, the entire
blockchain community has built upon a decentralized approach, further gradually
evolving into a distributed autonomous system. Similar to the traditional market
economic system, the distribution of products is dependent upon the quantity and the
output of resoures and supporting processes; whereas the right of usage, ownership and
right to operate together with investors, shareholders, employees, and customers are fully
integrated in the blockchain eco-community. As a result, all the participants would share
the benefits of ecosystem development and support better utlization of resources, in order
to create a virtuous cycle of profitability and sustainability. The recent development and
expansion of the blockchain ecosystem has ushered in a new era of the distributed
autonomous economy over the traditional economical forms of both capitalism and
socialism.
Our Vision
The BitMax.io (BTMX.com) team believes that blockchain technology is improving the
efficiency of organisational collaboration through a user-based intrinsic value exchange
system.

Similarly: 70%+

Also much plagiarized from Binance, bitchainnet-exchange

Binance https://www.binance.com/resources/ico/Binance_WhitePaper_en.pdf

Quote
Binance security is Paramount

Many crypto exchanges have failed due to poor security procedures. Most security
breaches could have been prevented by taking simple precautions to protect critical
resources. Our team has developed Binance with security as the foremost concern
in their minds. We strive to ensure that we have followed all the industry best
practices when it comes to securing infrastructure and data including ISO/IEC
27001:2013 and the CryptoCurrency Security Standard (CCSS) .

Quote
Nifex security is Paramount

Many crypto exchanges have failed due to poor security procedures. Most security breaches
could have been prevented by taking simple precautions to protect critical resources. Our
team has developed Nifex with security as the foremost concern in their minds. We strive to
ensure that we have followed all the industry best practices when it comes to securing
infrastructure and data including ISO/IEC 27001:2013 and the CryptoCurrency Security
Standard (CCSS).

Another interesting think is Binance whitepaper 17 page, Nifex whitepaper also 17 page.  Grin

bitchainnet-exchange: https://www.dapp.com/dapp/bitchainnet-exchange
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May 07, 2020, 07:20:10 AM
 #2

Project information:
  • Name: Nifex Exchange
  • Website:
https://www.nifex.net
  • Whitepaper:
https://nifex.net/wp-content/uploads/2020/03/NIFEX-EXCHANGE-WP.pdf

What happen: plagiarized whitepaper

plagiarized from: bitmax.io, Binance, bitchainnet-exchange
bitmax.io: https://bitmax.io/static/whitePaper_EN.pdf
Binance https://www.binance.com/resources/ico/Binance_WhitePaper_en.pdf
bitchainnet-exchange: https://www.dapp.com/dapp/bitchainnet-exchange

Ive saved with web archive the white paper, just in case, maybe they will delete it soon, it's already good to know this, a new exchange that copy even the white paper.

https://web.archive.org/web/20200507071757/https://nifex.net/wp-content/uploads/2020/03/NIFEX-EXCHANGE-WP.pdf

sharos (OP)
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May 07, 2020, 07:27:51 AM
 #3

Updated. I am unable to share image, for that i can't make this thread strong. But, i am trying my best to did it.     
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May 07, 2020, 07:54:28 AM
Last edit: May 07, 2020, 08:50:32 AM by Rikafip
 #4

So it seems that they finally found bounty manager willing to host the campaign after they were rejected by @btcltcdigger.  He also made scam accusation thread about them few months ago, when they contacted him.
https://bitcointalk.org/index.php?topic=5235699.msg54101503#msg54101503

Good catch OP, I tagged that lazy bounty manager that couldn't bother to waste 5 minutes checking the project.


I am unable to share image, for that i can't make this thread strong. But, i am trying my best to did it.      
You did good, just next time make sure to archive the thread  and the website so proof doesn't get deleted by any chance. If you are not sure how to do it, here is good guide made by @dkbit98 [Guide] Best way to Archive Bitcointalk and other webpages.

Here is bounty thread archived as well
https://web.archive.org/web/20200507080456/https://bitcointalk.org/index.php?topic=5246478.0

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... LIVECASINO.io    Play Live Games with up to 20% cashback!...██
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sharos (OP)
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May 07, 2020, 08:48:31 AM
Last edit: May 08, 2020, 05:15:16 AM by sharos
 #5

Quote
You did good, just next time make sure to archive the thread  and the website so proofs doesn't get deleted by any chance. If you are not sure how to do it, here is good guide made by @dkbit98 [Guide] Best way to Archive Bitcointalk and other webpages.
Thanks for sharing. I will do it from next time. Smiley   
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May 07, 2020, 11:15:50 AM
 #6

If they copied word for word from another project, seems that this exchange is not to be trusted once they are up and running. They should have put references or at least revised the paragraphs according to their own words. Though a lot are not really starting from scratch but at least show some effort that you created something for your project. Not gonna use this exchange in the future.
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May 08, 2020, 04:11:14 AM
 #7

Quote
Also much plagiarized from Binance, bitchainnet-exchange

I've take small recherch about this. This project trying to copy everything from binance. whitepaper design, Whitepaper points, Token chart everything. I think scam exchange is so much dangerous from other scam.
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May 09, 2020, 12:26:29 AM
 #8

Quote
Also much plagiarized from Binance, bitchainnet-exchange

I've take small recherch about this. This project trying to copy everything from binance. whitepaper design, Whitepaper points, Token chart everything. I think scam exchange is so much dangerous from other scam.

It is very dangerous because these behaviors they repeat in many projects, many people find the plan very attractive and they will participate. The project does not have a ready product and copies everything from another project, most of which is a scam project.
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May 10, 2020, 11:53:05 AM
 #9

(I'M KAKATUA, I got caught with another scam So I'm using this account to support the OP.)
Hello Kakatua! Looks like you quickly created another ICO website with no information and now launched bounty with another new account! Even during this pandemic you are looking for a way to scam people. Such a pity!

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May 10, 2020, 02:27:57 PM
Last edit: May 10, 2020, 02:41:14 PM by tamim101001
 #10

(I'M KAKATUA, I got caught with another scam So I'm using this account to support the OP.)
Hello Kakatua! Looks like you quickly created another ICO website with no information and now launched bounty with another new account! Even during this pandemic you are looking for a way to scam people. Such a pity!
You are possessed by a ghost.  I'll create a proof just for you very soon.Through which you will be forced to make the wrong victim. CZ The truth always win. I will arrange a clear proof, where everyone can understand I'm not Kuakata.   


Also you use a fake quote. I'm not say anywhere "(I'M KAKATUA, I got caught with another scam So I'm using this account to support the OP.) "

Archived: https://archive.st/archive/2020/5/bitcointalk.org/e4zy/bitcointalk.org/index.html
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May 10, 2020, 02:54:55 PM
 #11

~ blah blah blah ~
What a plonker!

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May 11, 2020, 09:41:55 AM
 #12

Looks like a scam to me...
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