Top 4 rated ICO’s

Stunning approach to stabilizing the cryptocurrency price
4 /5
  • Start date: 04-01-2018
  • End date: 14-03-2018
  • Accepted:
Read more
Empowering the games community
4 /5
  • Start date: 20-03-2018
  • End date: 10-04-2018
  • Accepted:
Read more
Decentralized platform for spare GPU owners
3.5 /5
  • Start date: 18-02-2018
  • End date: 28-04-2018
  • Accepted:
Read more
Disrupting the electricity market
4.5 /5
  • Start date: 20-02-2018
  • End date: 30-04-2018
  • Accepted:
Read more

Pincoin and Ifan ICOs allegedly eloped with $660 million

Posted Apr 18, 2018

Two ICOs operators have gone dark following series of insistent reports released about them as alleged massive scams; with an estimated 32,000 investors scammed of over $660 million in tokens. This was made known in the release of a local news outlet, Tuoi Tre News, on April 9, 2018.

The said culprit, Pincoin, and Ifan, which are new tokens are believed to be the ideas of two fellows from Dubai and Singapore respectively. This was thought to be carried out by multiple leveled marketing Ponzi schemes under the lordship of the outfit, Modern Tech based in Vietnam.

After gathering what the victims of the scam claimed to be up to about $660 million (which is over 15trillion Vietnamese dong) in the token sales, an absence of real money notes payout triggered a protest in front of Modern Tech’s Ho Chi Minh City headquarters, on the 8th of April.

After due investigation have been carried out, by the right bodies and the claims of the victims happen to be true, then the scam would be a record breaker as the largest of its kind in the cryptocurrency world and might end up being featured in the Guinness Book of Records.

In their release, the outfit, Media Tech stated that they are merely an official representative of the two alleged coins in Vietnam and not their mother body. All this was while trying to refute the release of the press directly or indirectly blaming the scam on them, by referring to their seven executives from Vietnam as the brains behind the strike.

Based on the reports of Viet Bao, a local news outlet, the building owner of Modern Tech’s Office stated that the company had packed out a month before, around the beginning of March in a bid to excuse the firm’s name from the scam story.

It was quoted that “Modern Tech left and closed an agreement about a month ago. No one can confirm their location now”.

Before this, Pincoin had been watched online under surveillance for some months. A report released by the scam directory about finance, Behindmlm this year in February that made its buy-in procedures and blurry ways evident as typical features of a return on investment (ROI) Ponzi scheme.

Since then, the site of the scheme has been actively online as well as that of Ifan, which is acting as a link between fans and their celebrities.