Let’s sort out the details of this weekend’s notorious cryptocurrency scandal.
This weekend the crypto world witnessed a rather unpleasant high-profile event. The Stox startup was accused of fraud, while the STX token hodlers were warned about an upcoming exit scam. The company responded with a threat to sue the authors and assured the community that a bright future lies ahead. This is Shitcoinoffering’s attempt to figure out who should we trust, and most importantly, what should we do.
What is Stox?
It’s a platform that predicts and forecasts the outcomes of sports, political and business events. A robust PR-campaign with the one and only Floyd Mayweather Jr. helped to raise 33 million dollars of investments in August 2017. STX token (ERC20) was being sold at $1,1 during the sale. The founders promised that it’s gonna be the most popular DApp in the world.
In the aftermath, the retired covetous boxer almost got locked up because of promoting the Centra Tech scam. As to the Stox app, it’s got a long way to go before reaching the DApp top.
As to the STX token, well it was constantly falling. Until it finally reached 4 cents. That’s to the moon for ya, guys.
The team is trying to get out of this sticky situation with all sorts of contests, giveaways and gifts based on the FInney blockchain, which belongs to friendly company Sirin Labs. No luck so far, too many fuckups.
(Hi, admin! I guessed 5 results, but they are all canceled. Could you tell me who can fix this problem?)
What happened during the weekend?
A warning post about the upcoming Stox ICO exist scam was published on Reddit. As evidence they provided info that Stox partners Amazix and Commonlogic left the project and that one of the Israeli offices was closed and all staff got fired. Besides that, they showed transactions, where supposedly, the Stox bosses are revoking their tokens from their partners.
In a few hours after the post got published (as the barely living shitcoin’s price continued to fall), the Stox founders responded that this info is outdated, you shouldn’t trust these guys and threatened the authors to file a lawsuit.
However, they announced that they did actually fire the Israeli team. And that the partnership with Commonlogic and Amazix was put on hold.
Who are Moshe Hogeg and Shay Ben-Asulin?
Along with the Stox team, the author accused the project’s advisor Moshe Hegog of dumping STX tokens. Moshe is a famous figure in the crypto currency world, he’s the founder and CEO of Sirin Labs, those smartphones which run on Finney blockchain. The PR-strategy of the startup was similar to Stox. They also had a star promoting the project (in that case they had Argentinian footballer Lionel Messi), which helped them make a hell of a lot money during the sale, more than 158 million dollars.
Their expensive (prices start from $999) smartphone isn’t ready yet. They are planning to make it in collaboration with Huawei and it will be the most protected smartphone in history. But there’s no to the moon here either. From the sale, they token’s price dropped more than 10 times.
There’s a common opinion that Stox is an invest.com project. Some time ago, they’ve bought a binary exchange AnyOption. It was a straight up scam from Shay Ben-Asulin, a person who has problems with the law not only in his home country Israel, but also in the USA. Of course Stox is trying to deny connections with him. But in the light of the recent event, it’s hard to believe this.
What should we do?
All that’s left for Stox and Sirin Labs token hodlers is to feel sorry for them. For those who didn’t get into this mess – remember the team member’s names, advisors and partners. We’ll hope that both projects will show themselves from a better side and will pleasantly surprise us. But for now, this doesn’t look good. What do you think?
Investing in a scam – a shitton of money. Subscribing to Shitcoinoffering – priceless.
Tell us what you think about our investigations in the comments. If they still aren’t enough for you, we can always do some research on an ICO that has caught your eye. For free, honestly and from the heart. Together we will prevail!
In Blockchain we trust!
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