US authorities arrested ICO scammer

Maksim Zaslavskiy had been arrested Nov. 1 and charged with securities fraud conspiracy tied to two token sales
02 November 2017   1828

A businessman from New York accused of defrauding investors in related with two ICOs. He was arrested by the U.S. Securities and Exchange Commission.

In the official statement from the U.S. Attorney’s Office Eastern District of New York Maksim Zaslavskiy had been arrested Nov. 1 and charged with securities fraud conspiracy tied to two token sales. One ICO was marketed as being backed with real estate assets; another one - by real diamonds. 

Maksim Zaslavskiy
Maksim Zaslavskiy

Prosecutors have further alleged that the purported assets backing the tokens did not actually exist. Main US authorities mission is to protect investors.

As alleged, Zaslavskiy and his associates enticed investors by promising returns using novel ICOs even though Zaslavskiy knew that no real estate or diamonds were actually backing the investments.
 

Bridget Rohde
Acting United States Attorney

The SEC begun to suspect mr. Zaslavskiy in fraud earlier in September. According to the September's SEC press release, the activities of the Diamond Reserve Club World (DRC World) and the REcoin Group Foundation, run by businessman Maxim Zaslavsky, revealed signs of fraudulent schemes, as well as violations of securities laws. 

At the moment of press, Diamond Reserve Club World is closed, with the banner on it, saying that "Maksim Zaslavsky violated federal securities laws".

Diamond Reserve Club World website
Diamond Reserve Club World website

We wasn't able to find REcoin Group Foundation website.

According to an interview, that Zaslavskiy gave to Anycoin News few days ago, he is hiring lawyers at the moment.

I am now hiring lawyers to defend my position in the courts. The SEC's accusations are groundless, we have not deceived our investors and offer a full refund to anyone who wants it. It seems to me that the SEC feels that it has somewhat missed the issue of regulating cryptocoins and ICO and now wants to catch up, choose me as a scapegoat. I hope that there will be no criminal trial, although I can not completely exclude such a scenario.
 

Maksim Zaslavskiy
Suspected

You can see full statement for information.

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   97

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.