ICO first encryption currency exposure of fraud scammers slip away with $ 2 million

On Tuesday, for the first time tokens issued (ICO) Fraud Exposed!Crooks after a con, with $ 2 million in funding decamp, and this incident with the individuals concerned may be related to other recent events together。
A liar on LinkedIn forged personal information and photos on Instagram from another user (photo wall), creating a false image of the character, it has successfully attracted more than 1,000 investors participated, called Giza ICO project。
ICO is unregulated wild west world, taking the "Wolf of Wall Street"。 First token release (ICO) is a way to invest in start-ups to public。 Its there to raise funds from venture capitalists, a company can hold ICO。
This is so that people can invest an encryption currency, such as Ethernet or Bitcoin Square, in exchange for start-up companies issued "pass card"。
The new digital coins instead of stock。
It can be used to exchange future services provided by the company。
It is also possible that much higher when the new value of digital coins than the initial investment may be。
Infection Control Officers have a lot of money, most of unregulated。 2017, the company's director of infection control by raising $ 3.8 billion, according to data CoinSchedule website show that this year alone they collected $ 2.8 billion。 But in most countries, ICOS is unregulated, which means that people invest in Infection Control Officer can not be protected with the same people invest in stocks。 Today, however, regulators are closely watching the activities of ICO。 Giza (Giza) Introduction investors believe that the project is legitimate, until the warning signal。 These signals include a falling out with the company's sole supplier, and the failure to restore the loss of funds, etc.。
Apparently Giza (Giza) chief operating officer orchestrated the scam –MarcoFike。
In the eight investors to accept foreign media interviews, partners and former employees, claiming they had never seen the true face of MarcoFike。 Giza start-ups, claiming that is developing a super-safe device that allows people to store encrypted money in it。 One investor said the company completed its ICO business in January, and after a few weeks attracted investors。 There are two investors said they invested Ethernet Square。 One investor was paid $ 10,000 investment in Ethernet Square, another investor to spend about $ 5,000 invested Ethernet Square。
In early February, Giza has raised more than 2100 Ethernet Square, was valued at approximately $ 2.4 million。 Today, only a $ 16 Ethernet Square, the others are gone。 After January and February, investment funds, many investors began to doubt about the project。
Impact of suppliers who requested anonymity, said investors, Everything was fine until the company intends to develop equipment that appeared on the Internet, and that they cut off contact with Giza。 It was found, which seems to be a hoax, Giza may not develop anything。
Then things start to get suspicious。 Giza site is deleted on Friday, but here you can see an archived version。
Year after year by the end of 2017, Russia signed Giza company called ThirdPinLLC, production equipment the company will eventually be sold。 In January 30, 2018, the chairman of IvanLarionov ThirdPin on a bitcoin forum, said his company has already cut off from Giza。
IvanLarionov explained that, before the arrival of the New Year, a representative of Giza contacted him, asking him to design a device intended Giza。
Once ThirdPin engineers worked out the specifications of the equipment, they gave Giza reported price of $ 1 million and signed a contract。 Larionov contacted member supplier STMicroelectronics, in order to obtain the desired device (Giza) Giza member。 The company's sales manager asked some basic questions, such as what quantity required, when production, but are unable to answer Larionov。
ThirdPin of FIKE made contact with the chairman, for the unanswerable question Larionov, FIKE touches give the answer。 Larionov said, this is a dangerous signal。
Larionov told CNBC, FIKE whether the requirements Larionov willing to establish new business outside Russia, and managing relationships with Giza。
The third suspect, CEO of Russia Fick want to get rid of encryption strict monetary rule, but rejected the request。 ThirdPin continue to assess the cost of production, it was found to be higher than previously expected。 Cost up to $ 1.5 million。 Larionov said the suggestion can pay in installments, but did not want to do FIKE。 Larionov said, Giza willing to pay 60% of the total contract amount, and the rest will be paid after the expiry of 2018。
Once they have completed the other part, we can raise more money。
But at that time, Larionov doubt whether Giza disappeared directly after obtaining the funds。
Around mid-February, Giza asking people to send money。
This went on for about two weeks。