Belgian Website to alert Crypto Investors about Scams

Belgium authorities are supporting a new website constructed for the unsuspecting public to notice attributes of a possible crypto scam on the Internet
06 June 2018   1384

The title ‘Too Good To Be True’  admonish the investors that practically everyone could create a crypto token and thus make it the “hype of the year.” It might be applied for “scams, drug trafficking, terrorism or any other criminal activity’’ and therefore it is necessary to be vigilant to see the signs of a potential fraud. The country doens`t have different regulations for cryptocurrencies as it is considered to be the other forms of digital money.

As crypto scammers seem so reliable, it is claimed that anyone looking to fund an Initial Coin Offering should research the people behind the project, which usually pledges great returns. It is also recommended to be careful with the site when “paying online with cryptocurrencies, investing in sports betting with crypto coins, and other platforms for investments in virtual currencies.” 

Another prominent feature on the website is a search bar that the developers assure they can help internet users to find out whether a website is fraudulent or not. This field will likely be filled with user-reported websites as a notice added to the checker service affirms that its developers would not be held responsible for any errors. 

The video includes of testimonial from individuals who became the victims of crypto scammers on the Internet, a highly informative FAQ page, and a ‘report case’ form sum up the other features of the website. The Belgian Federal Public Service Economy and the Financial Services and Markets Authority contributes to the new website as part of an initiative by the Belgian government to create public conversance about cryptocurrencies.

There is also a list of 19 crypto exchanges with presented fraud occasions by customers and warned against investment by members of the public.

Raven Protocol to be the First IDO at Binance DEX

Team cannot say exactly how IEO will pass, since similar campaigns hadn't been concluded at Binance DEX before, but they are going to sell $500k worth tokens
14 June 2019   403

The Raven Protocol cryptocurrency project announced about the planned initial exchange offering (IEO), which will be based on the infrastructure of the Binance DEX exchange - in this case the campaign will be called IDO or Initial Dex Offering.

Raven Protocol confirmed the right to list its token on Binance DEX paired with BNB on June 17 at 9:00 UTC. At the same time, the IDO of RAVEN tokens will start. The project draws attention to the fact that neither Binance, nor Binance Chain, nor Binance DEX stand behind this initiative.

At the same time, Raven Protocol notes that it cannot say how exactly IEO will pass, since with Binance DEX, similar campaigns have not been conducted before.

Potential participants need to pass a preliminary identification by sending to the address of founders@ravenprotocol.com their address in the Binance Chain, an identity document, a selfie and proof of residence.

In total, Raven Protocol expects to raise $ 500,000 by selling 3% of its own token emission (300,000,000 RAVEN). Accommodation will be on a first come, first served basis. The limit on the amount of investment for one user is declared at the level of 100 BNB.