Founder of fraudulent PlexCoin ICO goes to jail

Canadian court sentenced Dominic Lacroix, DL Innov Inc. founder to two month jail time
12 December 2017   2069

Canadian financial supervisory body – Québec’s Autorité des Marchés Financiers (AMF) – announced today, that Plexcorp founder Dominic Lacroix is sentenced to jail time for contempt of the court.

Earlier this year Quebec Superior Court already prohibited PlexCorp from selling its ICO token – PlexCoin, or soliciting and offering consumers any other investment into the company. Now, the contempt of the court charge resulted in a maximum penalty of two month imprisonment for Lacroix and $110 000 fines.

And Lacroix' problems don't end there. All of this is happening with the investigation still ongoing into his company – DL Innov Inc. All the assets and bank accounts are frozen until further notice, and AMF is looking into possible new charges against Lacroix and DL Innov Inc.

Also, Canadian law enforcements will probably take into account the report by US Securities and Exchange Commission, filed by the newly-established Cyber Unit, that Dominic Lacroix and DL Innov Inc. under the brand names of Plexcorp performed PlexCoin ICO, gathering since August 2017 up to $15 million from several thousands investors, promoting clearly false information by promising a 13-fold profit in a month's time.

Users Suspected RusGas of Scam

Reddit users have already accused RusGas of exit scam, since its behavior is much like  recent scam project Oyster Protocol
07 December 2018   95

The RusGas cryptocurrency project (RGS) demonstrates disturbing signs and releases new tokens in excess of the pre-set emission limit, Cryptovest reports. With an aggregate capitalization of $ 117, RGS trading volume for the last few days is $ 35,000. Events unfold against the backdrop of promises made by the project organizers about the upcoming restart.

Most of the RGS trade is focused on the Crex24 exchange, which has a daily  of $ 700,000. RusGas had a daily volume of several million dollars in its best days, which already then caused questions about the authenticity of this value.

According to CoinMarketCap, RGS emissions are limited to 10 billion tokens, but Etherscan indicates that currently 298 addresses contain 860 billion RGS. The rapid growth of emissions was recorded in recent days and hours. The largest wallet contains 99% of all tokens, which is probably the crex24 wallet. The developers themselves explain these movements to the next restart.

Reddit users have already accused RusGas of exit scam, since its behavior is much like  recent scam project Oyster Protocol(PRL), when the additional issue feature was used in a smart contract.

The likelihood of such an outcome is a characteristic feature of projects based on the Ethereum protocol, which allows additional emission of tokens through a smart contract at the discretion of its owner, not to mention other vulnerabilities that cost investors a lot of money.

RusGas is based on the idea of ​​using tokens and blockchains to optimize the Russian gas industry. Despite the dubiousness of the project’s mission, the data on the network indicates that in April of this year he managed to raise $ 2.2 million for ICO.