A flying taxi with a billion different websites and names, wandering nobodies without a product or advertising and liars from South Carolina – all this and more in another of our investigations.
Group Project
The startup’s goal is to combat counterfeiting. For this purpose, a “Crypto-Enabled NFC Chip” will be embedded into products. This will allow all the data about them to be entered into smart contracts. When making a purchase, the use can check if the product is genuine through the Group Project app, paying for this service with the company’s tokens.
The ICO is starting on 30 April. Goal: 25,000 ETH. And that’s when the real party starts.
You got it. So far, the project has nothing but an idea. The whitepaper looks like it was made by schoolchildren. The video describing the process is a bit better, but it hasn’t been seeded at all and has very few views.
See? These are supposed to be links to sites where you can read about ICOs. But they only mention classic ICO encyclopaedias that anyone who feels like it can add themselves to. And FundingPost.com, which doesn’t say a word about Group Project.
The ICO will only sell 25% of the issued tokens. At the same time, 57% will remain with the founders.
However, the whitepaper declares that there’s only one founder. Steve Kuh’s profile on LinkedIn states that he’s really worried about homeless people in Los Angeles and is involved in every sort of charity work. But the company where he currently works (Machine Thinking Systems LLC) doesn’t really exist.
A small inaccuracy: Kuh doesn’t actually have 20+ years experience as a founder because he was the CEO of a digital broadcasting and cable TV company – he didn’t found it and started out as an engineer there.
The project’s SMO Abraham Kim has an interesting biography. He was a developer for Calpac Group one year before it was even founded. Then he became the owner of an educational centre that brings up this page when you click on its link. He worked as a digital advertising specialist for online fashion and golf accessory stores. Here is his Facebook profile, consisting of nothing but reposts. Pretty crap for a social media manager. On the plus side, he is now the second-in-command in the Group Project team. Because there are only two people in the team.
David Drake is one of the advisers. He also helped the Russian scam Universa.
No team, no product and fake data. Even with all due respect for Steve Kuh’s engineering talents, it’s hard to not be scared for investors’ money.
Read more here: https://shitcoinoffering.com/3-fresh-icos-that-could-bail-with-investors-money/#comments
There are THOUSANDS of shitcoins. I can't even believe it, I just started with crypto not to long ago. Accidentally bought into some scamcoin on Yobit, luckily I only invested 5$ into it.. Thanks for letting me know about this, I will take care to research ICO's more carefully in the future.
You are welcome, dear! It`s our mission. We work for catching scammers and telling people that blockchain is a magic. But greed people make its reputation lower.