Would you walk down the road and give your wallet to some random stranger?
Would you give some random dude in India, $500 million dollars in hard to trace cryptocurrency with the hope he will give it back?
What if he had website that he put up two months ago?
What if the website did not have information about the people or resumes?
What if the company refused to do business with people in the country it was located?
What if the people who ran the company did it from another country?
If someone gave you $500 million dollars do you think you could disappear?
Is the guy you want managing your money someone who jumps out of the sunroof of a BMW?
What if the company founder has a documented history of Ponzi Schemes?
What if he has a hypnotic video collection telling him everything he touches turns to gold?
Do you have to wait for someone to scam to call them a scammer?
So lets get into some details…
This in the Insanity of these initial Coin Offering (ICO) scams!
Last week I discovered the All in Once Social Network was a scam.
You can read part 1
and part 2
https://steemit.com/ico/@cryptick/6-things-i-learned-exposing-the-aios-ico-fraud
Now be careful you are about to get a little All-in-One Confused.
I was monitoring the posts some people were putting up when I saw other posts for an All In One (AIO) Coin.
So the first one is a Social Network ICO.
And the second one is an Investment Coin. ICO
So I decided to look a little deeper.
Here is a nice video on it...
See some articles on it here.
https://steemit.com/cryptocurrency/@anishraj03/aio-ico-information-and-structure
https://steemit.com/aio/@yuvadeep/aio-all-in-one-ico-introduction-ico-is-live
https://steemit.com/aio/@totalgyan/let-us-know-more-about-all-in-one-coin-or-ico-crowdsale-is-live
Would you walk down the road and give your wallet to some random stranger?
Off course you wouldn’t!
But what if he gave a receipt?
And what if he had a website?
Would you give your bitcoins keys to someone with a promise that they will give them back to you in the future?
Off course not. But that is what this ICO wants you to do… Send me your money and I will keep it safe!
Before we get too far let’s take a closer look.
I admit on the surface I like the idea of an all in one coin linked to multiple coins. Like the SPY or QQQ ETFs which have proven to very popular among investors it could cut down on volatility. Interesting, but let’s look a little further. I don't think this is the guy I would trust to do it.
First let’s look at the Website
https://www.aiocoins.io/home/aio
The company claims to be located in Hong Kong.
Aaress Fintech Inc Ltd.
Office 302, Dominion Center,
Queen's Road East, Wanchai, HongKong
And we can even get a floor layout from the buildings management. (called research!)
http://www.hongkongoffice.com/building_search/office_profile.asp?B=5596
Cool They have a website how old is it? Two months old!
https://www.whois.com/whois/aiocoins.io
Now there are a couple of things that should probably jump out at you.
You have a company that is registered in Hong Kong that will not do business with anyone who lives in Hong Kong. This seems like a red flag to me!
And then on the website they do not have any founder information.
Except that we found it.
https://steemit.com/aio/@golafire/aio-all-in-one-all-about-the-team
And it is also on Facebook.
Now I don’t know about you, but if some guy wanted to manage 500 million dollars of money,
https://www.aiocoins.io/downloads/aio_whitepaper.pdf
Do you think they could get a little more professional photo done? In fact, wouldn’t they have professional photos from past jobs. Not to mention extensive, resumes, Linked In profiles (Edit1: Found a potential linked in profile. https://www.linkedin.com/in/sujit-jadhav-india/) , More Facebook Friends. But this is getting boring…
Do these look like people you can trust?
Lets have more fun. I think we should jump out of the sunroof of the car!
Here is the founder.
And here is Sampath Kumar AIOcoins.
Apparently, if you want to manage 500 million dollars; it is cool to jump out of the sunroof!
But it gets better, now I spent hours searching the net most of which is really boring stuff you don’t want to know about. However, our founder has a You Tube Channel.
And there are a couple of videos. Now
And then there is the Ponzi Sceme.
https://www.youtube.com/channel/UCiX7N42JBGrWLNa9e3hH5Tg
Apparently, a bunch of people have eventually realized that Ponzi schemes don’t work.
http://mmmglobal.com/
Well the organizer of this ICO has promoted it or took part on You Tube!!!
The part of the first Ponzi Scheme that is most interesting is that “... Immediately after the arrest of the CEO of the 'MMM', 17 trucks with cash left the company's headquarters in an unknown direction. The shares of 'Gazprom' gas company, worth $12billion, owned by 'MMM', have also disappeared…”
Now after this guy takes all your money you are going to be feeling bad. But don’t worry he has the solution for you. It is on his you tube channel. He has a self-actualization playlist! I couldn’t make stuff this crazy up! Now I have not watched all this, I could only handle a few random clips before I realized how crazy this guy is that we are going to give him all our money!
https://www.youtube.com/playlist?list=PL_rvtpg63S6Q5RUlnFICHJXfoDibzAGW7
If you want a sample, check out this video!
Transcript:
I am a magnet for success, money and prosperity,
blessing me with infinite riches!
Everything I touch turns to precious gold,
bringing me great wealth and eternal properity.
(Repeat Three times!)
If you give 500 million dollars in almost untraceable cryptocurrency to some random India guy are you ever going to see him again?
Well, why don’t you give him your money and find out!
Now I want to talk about integrity. This is very clearly an attempted FRAUD, This is an attempted SCAM! SCAMMERS don’t tell you they are going to take your money before hand. You have to be careful and invest wisely. If you are going to blog on STEEMIT. You need to be honest, straight forward and do your own research. When you promote scams you become a scammer. This is not cool. This is not good and this needs to stop. You are responsible for your actions. You are responsible to God, and to the community. Steemit has tools to stop fraud so you should expect that they are used on you when you promote fraud. People can fool themselves into all sorts of interesting semantics. But the bottom line is… This is an obvious SCAM!
Note: I expect this post to gather a bunch of flags. If you are part of the STEEMIT community that wants to stop these SCAMS please upvote these posts. I need you to stand with me against this nonsense!
Do you think this is a SCAM?
Did I miss some other tell tale signs?
Find Anything Interesting in your research?
Thank You and always do your research!
Edit# 2 To Include more Supporting data from @Isacoin
After this post was published @isacoin was very helpful in both verifying the information, I found and finding more information on the scam. With his suggestion, I am editing this post to include his findings and want full credit for that research to go to him! I am still figuring out the best way to keep all this information organized, but keeping a good bit of the fraud info in one place seems to make sense. I want to send a special thanks out to @isacoin. It is good to have another set of eyes on the this scam.
All in one scam
whois data is protected since is godaddy is very shady domain operator and is known to offer any without question need to pay if you want to see info
forbes.com
site has very little traffic
created in 2012
w3snoop.com
old saved page shows a web design site
http://aaressinfomedia.com.w3snoop.com/
1 there is a Aaress Infomedia © 2016 tag
Only one i could find is a shopping portal in Bangalore setup in 2011 they are stated as being based in Hong Kong.
2 The alexa data is too little for any ranking yet the site has been up since July and say have received a lot of funding towards their goal of $500 millon.
3 they provide information on % funding yet provide no real figures and have a goal of 500 million tokens valued at $1 each also the way they have sliders each makes no sense.
why would they have separate funding goals for each currency that could be used to invest.
4 Claim in their “Ideology” are committed to bring “trusted world class investment options” i dont see any of their team who has worked with a world class investment firm
and
"advance profit making" this is a promise of future profits regardless of funding.
5 State in their whitepaper the last page no.9 as technical details yet isnt in the pdf.
This is what ive found out so far and due to the extent it is promoted offsite by some reputable enough sources this could take some off-site inter-webbing work also.
webarchive.org
I’ve only noticed something on the initial site, notice the emphasis on value lead by real these are scam buzzwords.
office they claim to be in is actual a termits store dated Aug 31st
shop.whiteants.net
Confirmed 100% Scam
That is a beautiful meditation! I love the suggestion to record the affirmations because I was wondering. How I could remember to say all of that.
Hahaha Oh man! When I saw the team .. I almost died laughing!
His Linkedin profile seems to be recently created!
Thank you @cryptick for the post and the efforts that you make to research and to alert people from scammers.
Don't Worry if you die! Go look for positive reincarnation stuff in the that crazy You Tube Channel. Remember, India is a country where people literally worship cows. I agree the linked in profile looks recent. Does anyone know of a trick that shows exactly when it was created or edited? On the positive side, the bad photography actually makes me think we are closer to the real people behind this.
Hahah I know the reincarnation and I like the philosophy behind it! But I don't want to start each time a new life on EARTH :D
Thanks a lot for this information! I love your intelligence
Thanks!
My pleasure @cryptick!
wow good job again @cryptick ✋
I saw posts of this and thought at first it was a suspicious but didn't look too much into it you know other things were priority.
I've checked their site and it does look suspect that cant access
without first registering.
lead dev sujit jadhav does have linkedin profile but would be suspect of the legitimacy of is very bare and little connections.
linkedin.com
What would greatly lead me to believe is the in the same boat as AIOS are the people promoting are the same people promoting last and flagging.
will have to look more into this and will get back with whatever i find
Keep up the good work
Thank You. When you get to the message that says please register, just click button "Already a Member go to Website" and it takes you right in.
Thanks. I missed the linked in profile. I edited the post and included that link.
:) glad i could help out
https://hackmd.io/s/S1OBFcR9W# here is hack md link if want to pull markdown and links of what i gave and add to post
Thanks. So I have edited my post to include all the extra research you found. It is amazing how another set of eyes finds some things so quickly, and it is crazy the audacity of these scams. Thanks for all your hard work!
alright if you delete replies and remove votes from the ones above i can remove and give space for comments
also do you have some way to communicate outside posting comments to coordinated better
You are really great! A very big help... Crab mind!
Very great advice and great work on helping prevent people from getting scammed!
your post made me courious wheter i burned 12.000$ and i have to admit that your presented facts sound like its a scam.
The only thing that makes me hope is: etherscan.io
I paid 40 ether to this myetherwallet adress: 0x6ae2db83b192e648abbeee20515d6cb5e47b416f (which is the id which is for the ICO sale)
and i saw this exact adress (0x6ae2... ) pay ether to this adress:
0x9a62a984F44b731BB974B763ceC18079f7056bd2
and this adress (09xa62...) has incoming transactions from bittrex. (they sent something and received something) from this adress which should be bittrex... (0xFBb1b73C4f0BDa4f67dcA266ce6Ef42f520fBB98)
I hope you can guys can check the details given and find out if there is some hope for me to one day see some of my 12k invested back... :(
I know that the ICO is over and there is nothing i can do, but still, HOPE
Interesting.
I have never really researched this before… But it looks like in the last 33 days there was 147 ether transferred in. At $300 a piece that is $44,000 USD
I do see some smart contract creation. Don’t quite know what that means. I looked at some of it but it didn’t help that much.
There appears to be 83 unique addresses with 107 total transactions. Some addresses sent money more than once. I presume your transaction is the one with 39.2516 ether (0x0b41d90628343e2784d831944d9b6e538a0def0007b5c87d6ab60d039fcf0563) is the largest with the second largest one being with 20 ether.
I don’t know enough about smart contracts to be able to advise you here. Maybe someone else can help.
lol i really am the guy who got scammed the most? this was my transcation 39.2516 ether yes.
but how can they send token? i thought this was legit when they can send tokens, but i think i just am the guy who got scammed the most because i was stupid to trust :(
i guess some people might have sent bitcoin as well for the ICO???
fuck my life right now. 12k is a lot to me :((
hope and pray for my 12k ;)
i also talked to this founder guy sujit via twitter, he was quite a nice guy showing me how to make the transactions etc with myetherwallet...
i also have a picture that he sent me showing that he is in contact with bittrex...
showing 3 requests on the bittrex site:
first one: ID 236452 RE: Listing of my coin on your esteem exchange created 8 days ago
second : ID 187186 Listing of my coin on your esteem exchange created 25 days ago
third: Need to know process of listing coins/ tokens to Bittrex Exchange 2 months ago
this picture is from the 20.09.17 so all the mentioned days are now another 9 days older....
maybe bittrex can find out IP adress or freeze the funds... i dont know
on my ether wallet if you checked it, it seems like bittrex is kind of involved somehow right? what do you think cryptick?
according to their website, they are showing how much funds where raised in the ICO on the 30.09.2017 which is tomorrow. Maybe they will really try to launch this coin on bittrex. i hope so :((
In followup on this I do see a listing of funds on the website. It looks like they raised about $100,000; and show this on the website. From tracking block chain transactions this appears reasonable. If you really want to invest in crypto currency you are better off holding your own coins...IMHO.
So for the record, I may have been wrong here. This one sort of appears to be legit. I have seen this coin trading on an exchange. I highly value being honest and clear. All the circumstantial evidence pointed me away from this coin. I am not suggesting you invest here, but I may have gotten this one wrong. Or they just have not run off (yet). I simple want to acknowledge that as I looked into it there were lots of really bad warning signs, and I did not expect to see the coin traded on an exchange month later, but have seen it since. So this may well be a legitimate coin. You really need to decide for yourself.