Another scam-ICO robbed $2 mln worth of cryptocurrency

ICO project called Giza turned out to be a scam after almost a month of drawing in the investors
12 March 2018   708

A startup called Giza allegedly was supposed to develop a secure storage device to act as a digital currency vault. It resulted to be a fraudulent ICO project, as CNBC reported today. An individual or a group of ones behind the scam created a fake LinkedIn account with stolen photos of a complete stranger from Instagram and drew more than 1000 investors over the course of January through February. The central figure in the project - a mysterious COO of Giza Marco Fike: he was recruiting employees at freelancer-oriented job hunting websites, conducted chat interviews on Telegram and Skype (never voice or video), and managed business connections.

Late last year Giza contracted a Russian manufacturer Third Pin LLC that dealt with hi-tech devices. Giza representative provided initial designs, the project was sketched and the price was announced. But after several vague discussions on the matter of the details of the deal (how many units are considered, what specific characteristics should the device have, etc) the CEO of Third Pin, Ivan Larionov cut off the deal suspecting the project is a fraud. Mr. Larionov then posted at a Bitcoin forum explaining the fallout. These 2 facts eventually resulted in the project's compromise.

At the beginning of February Giza raised over 2100 ethereum tokens (~ $2.4 mln). Around mid-February huge discharge of Ether was spotted, it continued for 2 weeks until March, 2. A parallel is considered between Giza and another scam against a digital currency Bee Token: in February, Bee Token conducted an ICO but scammers inserted themselves into the cryptocurrency flow. And one of the wallets associated with Bee Token phishing attempt actually sent money to a wallet associated with Giza.

Giza investors have no clue of how to get their money back, and some have already contacted law enforcement authorities in the UK.

Top-3 Ongoing ICO 10th - 16th June

Let’s check which ongoing ICOs from 10th to 16th June are considered the best among our readers
18 June 2018   329

Our readers are dedicated cryptocurrency enthusiasts and fans of blockchain technology. We provide them with the ability to express their opinion regularly. Let’s check top three upcoming ICO according to our readers.

1. Hydrominer 

H3O will be the first security token with a capital market prospectus according to European financial law and a completely new model in the way investors will be able to profit from the mining process. The H3O token is the next best thing to a share in the company. In the event of an IPO the token underlying will be exchanged from a participatory right to a share in the company. In the presale you will be able to obtain H3O at a bonus of 42.8% The total supply is 7 Mio USD in the presale. In order to be compliant with this security token there are different rules for each country, there are different minimum investment requirements as well as KYC requirements.

At the moment, there's no info on the Hydrominer's raised funds.

2. Alehub 

The main aim of ALE - is to engage the technologies of decentralized applications for project management automation. It allows performing the search of works contractors and other labor force in the legal field. That is why we have created ALE – the platform to implement project management decentralized services, with a blockchain as a central element in it. One of the main ALE features - is to support multilateral smart contracts. By means of them, or, to be exact, due to the possibility to automatically administrate the relationship of the parties, the confiding environment is guaranteed. As for now, ALE is mirrored to Ethereum network in order to provide liquidity and to easier exchange listings. ALE is a security token, that grants a right for a share of ALE system profit.

At the moment, there's no info on the Alehub's raised funds.

3. Alethena

Alethena is the first Swiss Blockchain-Asset rating agency. Reliable due diligence and a resulting rating are established by providing a professional, transparent and in-depth methodology. Proudly transferring the values of its Swiss heritage, Alethena sets itself the highest standards of neutrality and independence. A scalable and decentralised methodology is the definite goals to be achieved with A.I. and Machine Learning in the near future.

Alethena
Alethena

At the moment, Alethena raised CHF 574'932 during ICO.

Check the updated Top Ongoing ICO article and take part in new poll!