Chinese Handymen Can Falsify ICO for $600

ICO falsification specialists propose wide range of services - from whitepaper writing to the "team" providing
14 February 2018   432

Six months after the China ICO ban, professional copywriters continue to operate in the country, which are ready to compose white paper and provide related services that completely fabricate a tokensale campaign. This is reported by CoinDesk.

The People's Bank of China imposed a ban on the ICO in September last year, however, searches for ICO, blockchain, white paper still return dozens of results with announcements of craftsmen posted on the Taobao platform.

Presumably, some of them may be associated with recent fraudulent campaigns that provided information that did not correspond to reality.

One of these services offers services for writing white paper for the ICO for $ 600, but this is not limited to its possibilities.

We can falsify the education and professional background of these ICO teams. Harvard, Yale, Stanford, Cambridge, Apple, Google, you name it. And we will ensure their profile pictures remain unsearchable on the internet.
 

Chinese ICO Falsifier

With such campaigns ICO participants had to face more than once. So, for example, the organizers of ICO Benebit, who stole several million dollars in crypto currency, used photos taken from the site of the British school for boys on their website. 

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Centra Tech Inc. Co-Founder accused With Fraud by SEC

The US Securities and Exchange Commission (SEC) has charged Centra Tech Inc. co-founder, Raymond Trapani with ICO fraud  
25 April 2018   77

The charge came as the result of the SEC’s investigations into Centra’s controversial $32 million USD initial coin offering (ICO). Mr. Trapani is the third and final Centra co-founder to be accused for taking part in the ICO.

Raymond Trapani, a co-founder of Centra Tech Inc., has been charged by the SEC for his participation in “a fraudulent scheme connected with Centra’s 2017 ICO.” In 2017 Centra made headlines after enlisting celebrity approval from Floyd Mayweather and DJ Khaled. Two other firm`s co-founders, Sohrab “Sam” Sharma and Robert Farkas, were charged by officials earlier this month for their engagement  in the distribution of “CTR Tokens” to investors.

A changed variant of the SEC’s complaint demands that Trapani was the “mastermind of Centra’s fraudulent ICO,” with an SEC press release alleging that “Centra [was] marketed with claims about nonexistent business relationships with major credit card companies, fictional executive bios, and misrepresentations about the viability of the company’s core financial services products.” The SEC accuses Mr. Trapani and Mr. Sharma of “manipulat[ing] trading in the CTR Tokens to generate interest in the company and prop up the price of the tokens.”

We allege that the Centra co-founders went to great lengths to create the false impression that they had developed a viable, cutting-edge technology. 
Robert Cohen, Chief, SEC Enforcement Division’s Cyber Unit

 

The SEC has disclosed a text mail sent to Mr. Farkas and Mr. Trapani from Mr Sharma in what Mr. Sharma said to his colleagues “[w]e gotta get that s[***] removed everywhere and blame freelancers lol.” Mr. Trapani also demanded that Mr. Sharma “cook [him] up” a fraudulent document whilst the company was seeking to get CTR tokens listed on exchanges under misleading pretexts. Mr. Sharma replied to the request with “Don’t text me that s[***] lol. Delete.”

At the same time, the U.S. Attorney’s Office for the Southern District of New York has also looked for criminal accusations against Trapani. The SEC has revealed that text messages  jointly used between Centra’s co-founders discovered the scam purposes of the defendants.