Warning: Icechain.ch not delivering at all on promises.

[warnerbunny]

So far they delivered nothing except for trying to sell their tokens on two occasions (Private sale and Seed/Scale sale). After the scale sale ended, I asked how many tokens they sold. They wouldn't answer but bann me instead.

They banned me twice from their Telegram group for asking normal critical questions. They always have cheap excuses for not delivering on their promises.

They Changed the whitepaper (is it even worth to be called that?) several times without communicating.

They promised big and delivered nothing. They don't even answer straigt forward simple questions. Instead, they deleted a lot of their promises and announcements from the Telegram chat.

The founder deleted his Linkedin profile, deleted the whole website of his other company swap-ping.com. They planned an event and cancelled it and just deleted the whole site and set the event telegram group to private.

They did a giveaway on kickoffpages, the terms clearly said employees and affiliates can't participate. 1.st and 3rd. place prize went to two (ex)employees who worked there at the time of the competition according to their linkedin profiles.

They are not able to deliver on their promises. They are no IT or blockchain experts. I say: Be wared, don't trust them.

I have many screenshots of their deleted messages, linkedin profiles and so on.


"Whitepapers": https://gofile.io/d/aLJwKt
Links to telegram etc. https://linktr.ee/Icechain
Their Token: https://polygonscan.com/token/0x27f45782ea27477dde5cfbe0e8e07eca06523d85

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[joniboini]

ICO not delivering is nothing new, unfortunately. Are they on this forum? If they do, I suggest posting this on the Scam Accusations board and posting all details related to your case there. If they are not here, then I don't think you can do much by posting here. Maybe post more about it on other social media such as Reddit, since they have a bigger audience. You can also post a comment on their block explorer page so other people can find it easily. You need a Disqus account to do it though.

As far as Telegram banning goes, a lot of projects do that nowadays with the basis of "banning people because they spread FUD", I doubt you'll get anything by confronting them there. About the team profile, are you sure that is real? Some scammers use fake profiles and delete them later when their scam is a success. If they are real though, at least you get some proof if this escalated further.

[warnerbunny]

Thank you joniboini.
The goal of this post was to post all their so called whitepapers for a start. Because they uploaded a new one several times and removed the old one. They always tuned down their promises and removed features therefore putting the ones that already bought tokens in a worse position. It's now something completely different than early buyers were promised. All this without ever commenting on the changes or announcing the changes. At the moment, they have no whitepaper for download at all. The last one they also called "Investor sheet" and  I honestly think that half the people mentioned as team members don't even know they are mentioned in this paper.

[mk4]

Name a single industry that has the worst rate of delivered promises than the cryptocurrency industry lmao. At this point it should be expected by default that teams will heavily under deliver.

And worse, this case doesn't even look like under-deliverance. It seems to be a typical rug pull.

[stompix]

I think it belongs more in the scam accusations since that's what it is right now.
I can't get any hit on the team, the LinkedIn profiles are clearly made up, I doubt there is anybody real in all this.
The website is a joke and more importantly, what's the use of their so-called token when the shop is simply a stripe integration module? They don't even have content on their pages with terms or faq, even their social media links point to the main website, like twitter.com not twitter.com/user..

Probably the real "team" behind this is already working on another project by now, f they are not at number four or five already

[warnerbunny]

I don't think it was initially intended as a scam, however there are some statements which make me think maybe they wanted to pull a scam. I know the founders are real, as they have a registered company. Most people in the whitepaper are just personal acquaintances of the founders. Basically none of them are qualified to run a project involving coding and blockchain - they are qualified electricians and their "Advisors" are self proclaimed crypto trading experts.

It was surely intended as a get rich scheme for the founders and their friends. But it looks like they failed at every step. As you say: what they called the "worlds first physical NFT Marketplace to verify ownership of physical and digital assets on the blockchain" is now a web2.0 shop with stripe-integration and a bad design, many bugs, no products/partners and they call it "The worlds firts web 3 marketplace for luxury watches and jewellery" (which it isn't).

[stompix]

I don't think it was initially intended as a scam, however there are some statements which make me think maybe they wanted to pull a scam. I know the founders are real, as they have a registered company. Most people in the whitepaper are just personal acquaintances of the founders.

I think some people are too lenient on those issues, it's not like they tried to build a rocket and this failed at launch, they, well, they did nothing! They issued a token (2 minutes), and they put up a mock-up of a shop website without even filling in basic parts, another 5 minutes. If I plan on taking payment from you with the promise of building you a house while I know nothing about that, I don't have any studies, any machinery, or anything but the first thing is to pay my friends and relatives out of that money is a scam from the start!

Most people in the whitepaper are just personal acquaintances of the founders.Basically none of them are qualified to run a project involving coding and blockchain - they are qualified electricians and their "Advisors" are self proclaimed crypto trading experts.

Are you sure about that?
On the last whitepaper the CTO is called Glen Huang
The image matches this:
https://www.theladders.com/expert/glen-huang-598f6f
and this:
https://www.linkedin.com/in/glen-huang-14b76358/

No sign of  any icechain mentioned anywhere, same for other team members that I got a hit on the images, so are you sure those people even know they are involved in this?

[warnerbunny]

I think some people are too lenient on those issues, it's not like they tried to build a rocket and this failed at launch, they, well, they did nothing! They issued a token (2 minutes), and they put up a mock-up of a shop website without even filling in basic parts, another 5 minutes. If I plan on taking payment from you with the promise of building you a house while I know nothing about that, I don't have any studies, any machinery, or anything but the first thing is to pay my friends and relatives out of that money is a scam from the start!

I do have the impression they tried, but they have no idea how to do it. They outsorced the website to a company called Accubits. This company took months to do what you can now find on icechain.org (a wordpress page?). I did write to Accubits and they confirmed that they worked for them. At some point icechain stopped working with them "due to dissagreements" and restarted with a company called Suffescom. They did what you see on icechain.ch. The founders themselves can not even do such a simple site by themselves.

Getting information from them in the Telegram group was next to impossible. I stayed polite, didn't even start to ask real critical questions and got banned two times without notice. While 400 members in the group were mostly silent. No one asked any real questions. Basically only people they personally know where active and only shilling the 'project'.  I concluded that most Telegram members are fake (bought).

That also made me question their private sale: They said 19,181,982 tokens were sold at 0.04$ per token. That's 767,279$. I think that's wildly exaggerated - it's probably a fraction of that. They are lying so often. You can't trust a word they are saying.

Are you sure about that?
On the last whitepaper the CTO is called Glen Huang
 [...]
No sign of  any icechain mentioned anywhere, same for other team members that I got a hit on the images, so are you sure those people even know they are involved in this?

It's reassuring to see that you came to the same conclusion here. As I staded in my second post mentioning this paper in this thread:

I honestly think that half the people mentioned as team members don't even know they are mentioned in this paper.

I tried to contact these people. I found the email address of one of them and wrote to her. Never got an answer though.