Category Archives: Fraud

FRAUD AND DATA MANIPULATION DRAWBACKS SOLVED 100%

In today’s world, fraud and data processing tends to be the main drawback bringing about unreliability and thereby putting people to risk. The Pay Pie project is the world’s first accounting system, built on a decentralized system. Paypie is the first centralized central accounting platform for businesses that will provide real-time information on financial data to achieve 100% accuracy for a credit risk algorithm. This analysis will be conducted using a single bookkeeping approach and will change the manner in which credit risk is assessed by lenders, investors, banks and other financial institutions while accounting for the lender’s supporting accounting ecosystem, and take into account all historical financial data of businesses.

The PayPie platform uses blockchain technology to optimize the process between SMEs and stakeholders interested in the financial health of the business. It not only provides a place to search for and access to easy loans, but also a platform for managing subsequent processes related to accounting, finance, insurance premiums and audits. As said earlier, PayPie will provide a clear answer to the unreliability of this fault system with its unique risk algorithm.The algorithm is based on the triplexing of the block chain, which ensures that the risk score is 100% accurate and anti — fraud.

MORE ABOUT PAYPIE

PayPie was developed by a Canadian company and is creating the first distributed accounting platform for business. The platform will understand the financial data in real time to achieve 100% accuracy of the credit risk score algorithm. This will be done by providing a new and accurate way to address the problems of fraud and inconsistency in the risk scoring market

FEATURES OF PAYPIE

These are some features which paypie entails

  1. nsurers — sell insurance products to businesses
  2. The opening of small business lending opportunities for small businesses
  3. Credit opportunities for banks, financial institutions, investors, companies-factoring companies
  4. Third-party financial auditing and review data, accounting firms and governments Why PayPie Prospects for Market Opportunity Shop Risk analysis analysis underlies most major industries in the financial sector, such as financing, compliance, audit, credit insurance and review. The market is huge, and almost all SMEs go through a risk assessment at a certain point in time. Competition Despite its vastness, the business risk assessment market is riddled with inconsistencies and inconsistencies that pose a problem for third parties checking them.

WHY PAYPIE?
The authors identified the essence of the project in English as follows: “First Risk Score Algoritm”, which means that the Pay Pie project has a secret unique risk algorithm. In fact, this algorithm is a triple entry of a chain of risk. Just imagine what wide opportunities for investors will open the project Pay Pie, if they have reliable access to accounting, which can not be rewritten. Simple easy access for interested parties can potentially transplant many business processes from diesel to fusion fuel.

In addition, a number of bonuses are opened for the companies themselves. First, they will be able to quickly and reliably study their counterparties: whether suppliers or partners. Secondly, it will be easier to justify the requirements for banks on credit, having an open accounting department for the block. Thirdly, clear opportunities are opened for attracting investors. Fourth, it is assumed that the platform will make it clear for the top management of the enterprise, because all accounting information will be fixed by a single pattern and can not be rewritten.

FUTURE TREND OF EVENT

ABOUT TEAM

PayPie Team CEO Nick Chandi is an entrepreneur with more than 20 years of experience in the accounting technology industry and a member of the Forbes Technical Committee. The team consists of a group of comprehensive expert members, including entrepreneurs, accountants, lawyers, journalists, engineers and developers, covering technology, banking, finance, accounting, risk management and block chains

ABOUT ICO, TOKEN SALE AND DISTRIBUTION

Start: October 15, 2017

Off: November 15, 2017

Total: 110 million PPP

Team retention: 27.5 million PPP

Maximum ICO total: 82.5 million PPP

Minimum ICO total: 4.5 million PPP

- The tokens assigned to the team will be locked in a sensible contract for a period of 12 months. This will ensure that the team is fully focused on making the PayPie platform grow.

- If the maximum number of tokens is not fully sold, the rest will be allocated to our reserves and used accordingly when needed.No excess token will be destroyed.

1 PPP = 0.0011 ETH

PayPie Platform Token (PPP)

PPP supports PayPie ecosystem. Complies with ERC20, compatible with Ethereum wallet.

BELOW ARE THE LINKS TO PAYPIE

Official website:https://www.paypie.com/

Whitepaper:https://www.paypie.com/Content/files/PayPie-Whitepaper.pdf

Slack:https://paypie.herokuapp.comTwitter:https://twitter.com/PayPiePlatform

Facebook:https://www.facebook.com/PayPiePlatform

ANN thread :https://bitcointalk.org/index.php?topic=2074162.0

Bitcointalk Profile link: https://bitcointalk.org/index.php?action=profile;u=1048662

My Youtube channel: https://www.youtube.com/channel/UCoKb8l6T6TN3dk9_9CvTnvw

Bitcoin is a Scheme and “Fraud”: Jamie Dimon BTC Criticism

Jamie Dimon, the chief executive of JP Morgan Chase – has put on another strong support on his previous criticism towards bitcoin, saying that the crytocurrency leader is a “fraud” and he would choose firing anybody who would trade it.

During an even hosted by Barclays, based on the information from Bloomberg and CNBC J Dimon did announce out his feelings for Bitcoin. In November 2015, the long-time critic of the digital currency, stated that Bitcoin will not be able to survive when it was trading at around $400.

“I’m not saying ‘go short bitcoin and sell $100,000 of bitcoin before it goes down,” he said. “This is not advice of what to do. My daughter bought bitcoin, it went up and now she thinks she’s a genius.”

He hoisted up for remark those that have said the cryptocurrency in the market is at a bubble territory. Dimon was quoted saying:

“It’s worse than tulip bulbs. It won’t end well. Someone is going to get killed.”

During the same appearance he did add up that Bitcoin will “be blowing up” and that he would find stupid anybody trading it and terminate them.

After the news spread, based on the data from Bloomberg, many have noticed a drop in bitcoin price. Tanking the price value is still the fear that China will move to close domestic virtual currency exchanges.


Read Also:


– For more Cryptocurrency market related Updates and News Follow us on our Facebook and Twitter pages.

The post Bitcoin is a Scheme and “Fraud”: Jamie Dimon BTC Criticism appeared first on Ethereum World News.

Y Combinator Startups Begin Overt Political Discrimination

News is emerging that Y Combinator darling Airbnb has begun firing customers for supporting particular political creeds. In typically SillyCon Valley hypocritical fashion, the leftist provacateurs masquerading as a "business startup" are pointing to their "Community Commitment"1 which demands the platform's users

accept people regardless of race, religion, national origin and other identifiers

Despite this Airbnb refused to eat their own dogfood when they cancelled the accounts of a number of individuals affiliated with groups professing conservative political and religious creeds attending a rally in Charlottesville, Virginia. In doing so Airbnb not only denied these activists the opportunity to use their platform on a systematically discriminatory basis, they denied the booked "hosts" the opportunity to collect revenue on their investment properties.

At this point there is little room to doubt that the VC circus in SillyCon Valley is far more concerned with reinventing new bureaucracies than engaging in business of any sort. Where before the circus freaks settled for covert political manipulation of their platforms, they have now become either bold or desperate enough to act overtly on their ideology of hate.


  1. How many "Community Commitments" and other unread obligations have you personally clicked through just because you wanted to try some "hot" new "service" in the sharing (a.k.a. poverty) economy?   

An open-minded report about how EncryptoTel ICO development team and escrows scammed their…

An open-minded report about how EncryptoTel ICO development team and escrows scammed their investors

To summarize this report, I could say that it is all about how EncryptoTel team violated ICO terms and conditions, constantly lied to ICO investors, how funds was stolen by weirdly suspicious hack and as some of investors didn’t even get their tokens.

First of all, I am sorry for my English (as it is not my native language) but with my deepest respect to all honest EncryptoTel ICO investors the factual truth must be told so I will try to outline this report with every detail and key element to truly show the whole picture here. If you are interested to look up this gathered information yourself in more specific details then you are welcome to visit and inspect/investigate official ICO site and most active community sites to make sure that no intentional lies are told here (most active of all slack channel requires registration with auto invite):

http://ico.encryptotel.com/

https://encryptotel.slack.com

https://bitcointalk.org/index.php?topic=1848180.0

https://medium.com/@encryptotel

Now I will introduce you with step-by-step factual information (with sources to check facts) to clearly show how unfair, unprofessional and fraudulent EncryptoTel team members and ICO escrows were in process of conducting this ICO.

— -1st STEP — — Violating ICO Terms and Conditions (Crowd sale)

Information from official EncryptoTel ICO site Terms and Conditions (Source — http://ico.encryptotel.com/assets/pdf/EncryptoTel_TC.pdf )

“TIMING OF SALE

The initial sale will begin at 00:00:00 UTC on 24 April, 2017. The sale will run for 37 days and will end at 23:59:59

UTC on 31 May, 2017, or whenever the cap of $3 milli

on has been reached.”

Additionally — Official EncryptoTel ICO statement (from https://bitcointalk.org/index.php?topic=1848180.0 )

“EncryptoTel aims to raise a minimum of $100,000, which will enable completion and release of the core product (already in working beta). $250,000 will enable broader functionality and greater degree of publicity. A $1–3 million raise would allow aggressive entry of into the telecommunications market and the acquisition of licences to allocate phone numbers directly to customers. The ICO will be capped at $3 million.”

1st FACT — EncryptoTel ICO crowd sale raised $4,429,211.94 (approx. $4.4 million) and to doing so clearly and strongly violated their own Terms and Conditions (Source — http://ico.encryptotel.com/ )

2nd FACT- In May 10th, 2017 after $3 million cap was reached the following official announcement was posted from EncryptoTel team (Source — https://medium.com/@encryptotel/encryptotel-crowdsale-ends-with-the-collection-of-3-million-e17a6bf4444b ).

The cryptocurrency markets are extremely volatile at the moment, with BTC, WAVES, ETH and ETC experiencing significant movements in price. Due to this factor, it’s likely that the dollar equivalent of the funds collected will fluctuate above and below the $3m mark. We also understand that display issues have prevented some investors from making deposits. In recognition of these factors, will will be leaving the crowdsale open for a final 24 hours, before closing it for good. We consider this the fairest way of ensuring investors all get a chance to commit funds, without unduly diluting our market cap.

This was one side decision from EncryptoTel team and escrows — no investors opinion or common decision were taken into account by creating public poll (for example) or any other democratic way.

3rd FACT — ICO crowd sale officially ended in In May 11th, 2017. In these additional hours approx. $1.4 million additional funds were raised above $3 million determined crowd sale cap limit (about 50% more than determined cap). And what makes this sudden ICO prolonging more suspicious that for most part funds in this additional time came from 1 time huge approx. 1 million WAVES token investment form 1 specific investor. In spite of very significant objections and dissatisfaction from many investors for reasons mentioned above (Source — https://bitcointalk.org/index.php?topic=1848180.1980 ) EncryptoTel team and escrows decided independently to keep these additional funds just like that and the following official announcement was posted (Source — https://medium.com/@encryptotel/an-update-on-the-encryptotel-crowdsale-e2c3739f2b4c )

As an escrow for Waves, I can assure EncryptoTel investors that the additional funds raised after the ICO cut-off time will be used in an appropriate way by EncryptoTel team. The decision to prolong the ICO for 24 hours was quite reasonable, since the investment target was reached through an appreciation in the exchange rates, and many investors were unprepared for such an abrupt end to the crowdsale.’ — Sasha Ivanov, CEO of Waves and escrow for EncryptoTel”

This was one side decision from EncryptoTel team and escrows — no investors opinion or common decision were taken into account by creating public poll (for example) or any other democratic way.

I personally strongly agree with many investors logical conclusion that in this way early investors expected ETT token market value (after ICO) will be significantly lower because of reason that about 50% more total tokens will be distributed in the market.

4th FACT — After some serious and intensive continuing complains and objections in public community sites and overall dissatisfaction from investors another announcement was posted (Source — https://medium.com/@encryptotel/encryptotel-crowdsale-update-3-a48b495a8de0 )

“We have come to a solution that we believe will be mutually acceptable for all parties: buying back and burning a proportion of ETT using the additional funds collected.

It is not yet clear how many investors will choose to sell their tokens in this way. Initially, we propose to place a buywall of 200,000 WAVES for ETT, using the Waves DEX.”

Again, this was mostly one side decision from EncryptoTel team and escrows — some of investors agreed, most suggested to refund investments to investors who invested after $3 million cap or refund to all investors would be fair, there were also other opinions through community discussions, but again no common decision were taken into account by creating public poll (for example) or any other democratic way.

5th FACT — In 52 days passed from ICO ending and in all the ETT trading time in Waves DEX exchange and till this day there is still no ETT buywall (of 200,000 WAVES) for inicial ICO price 0.000047 BTC from EncryptoTel team placed. (For excuses please see — https://encryptotel.slack.com )

Sources for EncryptoTel team unfulfilled promises:

In May 15th, 2017 source — https://medium.com/@encryptotel/encryptotel-crowdsale-update-3-a48b495a8de0

“We have come to a solution that we believe will be mutually acceptable for all parties: buying back and burning a proportion of ETT using the additional funds collected.

It is not yet clear how many investors will choose to sell their tokens in this way. Initially, we propose to place a buywall of 200,000 WAVES for ETT, using the Waves DEX.”

In June 8th, 2017 source — https://medium.com/@encryptotel/encryptotel-distribution-in-progress-42f46b4c3ca4

As agreed after we experienced a last-minute surge in funding, we will be setting a buywall using 200,000 of the additional WAVES we received, with a current market value of over $1 million. The average ICO price of ETT was 0.000047 BTC, so we plan to use a bot to set the buywall and dynamically adjust prices in WAVES. This will take place on Waves’ DEX, where tokens can be traded directly against WAVES, along with the other benefits that come with a decentralised exchange. (Because we will need to code the bot, this buywall will not be set for up to two weeks.)”

— -2nd STEP — — Violating official ICO statement (Distribution timeframe)

Information from Official EncryptoTel ICO statement (from https://bitcointalk.org/index.php?topic=1848180.0 )

“EncryptoTel will conduct a through audit of deposits before tokens are created and distributed at the end of the crowdsale. This process may take up to two weeks. Upon distribution, tokens can be transferred using the Waves wallet and traded on any supporting exchanges.”

1st FACT — In 52 days passed from ICO ending and token distribution to investors are still not finished yet. There are still many complains from investors (including me) who have done everything according to EncryptoTel token withdraw instructions and contacted with EncryptoTel support but still haven’t received their tokens (For investor complains and dev team excuses please see — https://encryptotel.slack.com )

There were several posts and announcements from EncryptoTel team that distribution will be finished soon but were never fulfilled and distribution issue is still ongoing.

According to latest EncryptoTel team member information (Source — https://encryptotel.slack.com ) distribution is ongoing issue and set deadline by EncryptoTel team is end of July, 2017. It would be 81 days from ICO ending date, of course assuming that this deadline will be respected and fulfilled.

2nd FACT — Despite the fact that distribution is not finished and many investors still don’t have their tokens received escrows (CEO and founder of Waves platform Sasha Ivanov and Dmitry Meshkov) have already released ICO funds to EncryptoTel team according to this official media post — https://medium.com/@encryptotel/encryptotel-distribution-in-progress-42f46b4c3ca4

“The good news is that the start of distribution unlocks our escrow balances, meaning that we now have the resources to start moving forward with the new phase of EncryptoTel’s existence. We are hiring new people and setting up our offices, and in due course we will register a company as a legal entity and carry out the other tasks that will make us a real-world business.”

This is obviously very unfair move from escrows in relation with investors.

3rd FACT — From beginning there was and still is ongoing issue with viewing token balances in ICO control panel how many ETT tokens will be distributed to investor according to their investment amount, despite many complains and confusion from investors this wasn’t fixed after security audit and still isn’t till this day (Source — https://encryptotel.slack.com ).

There were several posts and announcements from EncryptoTel team that they are working closely with Incent platform (which was used in ICO) team to fix this issue but still no positive results (in many cases) till this day.

Source or EncryptoTel team unfulfilled promise (May 24th, 2017) — https://medium.com/@encryptotel/token-balances-fixed-54e59fbf7b50

“Investors will be aware that the ICO portal used for the EncryptoTel crowdsale has been affected by display issues, which have meant that it has not always been possible to know how many tokens you own. These have now been addressed, and final ETT balances should now be displayed correctly.

Please log in to your ICO area to view your balance. (It may take a few minutes to update, because the portal needs to connect to nodes for all four blockchains — Ethereum, Ethereum Classic, Waves and Bitcoin.)

If there is still an issue with your balance, please fill in the form to let us know and we will take a look as soon as possible.”

4th FACT — No promised bounties till this day have been distributed for people who promoted this project according to EncryptoTel bounty campaign (Source — https://encryptotel.slack.com and https://bitcointalk.org/index.php?topic=1848180.220 )

Also, it is worth mentioning that no additional Incent token bonus from investment amount was distributed yet. This is eligible to all investors for ICOs conducted on Incent platform, according to this official Incent source — https://www.incentloyalty.com/icotech_request

— -3rd STEP — — Not acting in investors best interests (Suspicious hack with “stolen” ICO funds with no proper explanation or investigation from EncryptoTel development team)

1st FACT — All trading was stopped in June 22nd, 2017 according to this official post that there were some suspicious transactions (Source — https://medium.com/@encryptotel/an-important-update-1e97f5268a0a )

“We’re looking into a some suspicious transactions on the ETT token. Please do not transact or trade our token while we investigate. We have suspended our blockswap while we gather further information.”

In the following post next day this announcement was stated (Source — https://medium.com/@encryptotel/an-important-update-2-fd541726fb47 )

“Yesterday, late in the evening Moscow time, our BlockSwap service was attacked and ultimately hacked. The amount of losses is a staggering 38.5 million ETT tokens from the Ethereum chain and a further 3.8 million ETT Waves tokens.”

2nd FACT — “Investigation” was conducted and here is official announcement from EncryptoTel team (Saurce June 27th, 2017 — https://medium.com/@encryptotel/an-important-update-4-9c1deb80001b )

“Our investigation has come to a conclusion. We are 100% certain the fault lies with Incent.

We have enclosed the report of our colleagues from the laboratory of Zerion, who helped to conduct the investigation. We expect Incent to publicly apologize to the EncryptoTel community, and accept full responsibility including financial damages.

Here is the report on the investigation into the hacking incident: https://drive.google.com/file/d/0B8k5x6THP0p7dFNSV2s4YmI4OVk/view

What makes this “hack” more suspicious is that according to information from this same source stolen ETH ETT tokens were returned by obviously honest hacker:

“The hacker has returned the 38 million stolen ETH ETT tokens, likely as a result of our statement of intent to re-issue the ETH ETT token. All tokens are now accounted for and secure as you can see here. Trading will be re-enabled on Tidex soon.”

In the matter of fact these stolen and returned tokens will stay as is and no new token redistribution will be issued.

And there is more — No actual server logs were provided, that actually proves that this hack really happened the way EncryptoTel developers are describing it. On the other hand Incent (platform on what ICO was conducted) team member posted Incent official statement on this matter with related Incent side server logs that proves that no one accessed the mentioned vulnerability at the time of hack happening (Source — https://medium.com/@incentloyalty/an-update-on-encryptotel-3b06adf4c9b9 )

“The post is inaccurate. It states ‘ We are 100% certain the fault lies with Incent.’ They appear to be certain because of the existence of the vulnerability, as detailed. The https://drive.google.com/file/d/0B2xcYgYMGKI0X3pUUDUtMS0tRGM/view indicate that the vulnerability was only accessed on the 25th June, after the hack.”

As till today no further and more specific information is provided by EncrytoTel team to clear thing out with this suspicious hack in process of which more than 200 BTC were stolen from invested funds in total, and not even mentioning how bad this uncleared and shady situation will affect market value of the ETT tokens and reputation of whole project. There are no doubts that token holders/investors will suffer significant losses from these actions.

Conclusion

Firstly — this report is a call out for future investors in ETT blockchain token asset and EncryptoTel business partners (especially cryptocurrency exchanges) please take in notice this report and decide for yourselves are these people really the honest ones and is it worth taking a risk in collaborating and cooperating with them?

EncryptoTel team members and escrows (for more info please see — http://ico.encryptotel.com/ )

Roman Nekrasov CEO and co-founder

Aleksey Kuznetsov CTO and co-founder

Igor Bityutskih CIO and co-founder

Sasha Ivanov CEO and Founder of Waves Platform, Bitcoin multisig & WAVES balance escrow

Dmitry Meshkov PhD, IOHK.io researcher, ETH & ETC balance escrow

Please notice that this report will be sent to all largest cryptocurrency exchanges and cryptocurrency news portals for consideration.

Secondly — this report is a call out for EncryptoTel team and escrows to reasonably explain (no empty excuses) their actions mentioned in this report and at last act fairly and be respectful to investors by conducting a public democratic poll on refunding investments back to investors. Let the investors decide do they want to continue participate in this failed project or not. These are the rights of investors in case of brutal violation of ICO Terms and Conditions, aren’t they?!

Thirdly — this report is a call out for all investors who participated in this EncryptoTel ICO, please leave your comments below this report and ask escrows and development team members (here in comments and in all available community sites) to conduct public pool for investors to decide on refund. And please feel free to refer to this report anytime. I know that many of you were fully informed on all what was happening during this ICO as you were following closely the development of these events and many of you just like me are also interested in refund. Together we could at least try to turn this situation around.

And one more thing, I would like to point you in direction of alternative opinion about this project technical specifications, technologies behind it and potential of this project, please read with open mind and make you own conclusions — “CRYPVISER vs ENCRYPTOTEL ? NO WAY! NOTHING TO COMPARE!https://medium.com/@vadiman/crypviser-vs-encryptotel-no-way-nothing-to-compare-76e78a0a6ec

John Seagul & Anonymous group of worried investors

Bitcoin Mining Scheme Backfires – Josh Garza Charged by the SEC

josh garza arrested

Another attempted Bitcoin scheme was interrupted, and the responsible party, Homero Joshua Garza is now being sued for fraud.

The founder of ZenMiner and GAW Miner, Homero Joshua Garza, was caught mining for bitcoin and sued by the Securities and Exchange Commission (SEC). A civil complaint accused Garza and his brother (Carlos Garza) of mining bitcoin and committing a fraud worth over $10 million.

Thanks to criminal activities like this, Bitcoin’s reputation continues to suggest that it’s only used in criminal business. The truth of the matter is that this cryptocurrency is popular among criminals due to the fact that it’s hard to track, but that doesn’t change much.

The idea of the US dealer was to try and create an investment plan and give the participants the ability to mine Bitcoin. However, according to the government, his mining offers were fraudulent, and misrepresented the amount of return on investment that would have been received by mining.

Investopedia claims that mining bitcoin leads to releasing new coins, but it also adds transactions to the block chain. The process itself is done by compiling multiple transactions into blocks. Miners would then basically try to solve a pretty difficult puzzle, and the first one that manages to do it can place the next block on the chain and get a reward.

These rewards include the newly mined coins, as well as the transaction fees that are, once again, paid in Bitcoin. Basically, those who were involved in the scam were renting the tech that’s needed for verifying transactions. And eventually, they managed to earn a few of the Bitcoin as well. After the authorities discovered the operation, they not only confirmed that the equipment was flawed, but also that the scammers were aware of it.

“GAW Miners and ZenMiner did not own enough computing power for the mining they promised to conduct, so most investors paid for a share of computing power that never existed. Returns allegedly paid to some investors came from proceeds generated from sales to other investors.”

Garza used the money received from his investors to pay back his previous investors. This is called a Ponzi scheme. In the process, he managed to keep around $20 million, while the investors didn’t manage to get the full amount of invested money back. The SEC has stated that Garza didn’t work with anywhere close to the amount that’s needed to properly mine Bitcoin.

Basically, the entire business wasn’t good enough to produce enough money for him to return the investments. Now he must pay the fine to make up for the damage, and he also faces a trial for the fraud that he committed.

If you liked this article, follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin, cryptocurrency, and technology news.

The broken event business

As an avid event visitor, I can’t think of a system that’s more than ready for change than the event business. The online society we currently live in has done wonderful things for us, yet it has also brought something to the event business which needs to be dealt with: fraud.

What’s wrong?

Currently there are two parties in place that are profiting of us, the fans. The primary market platform and the secondary market platform. Studies have shown that 60% of all tickets for popular shows are sold to so called “bots”. These same bots then try to resell these tickets on a secondary market platform for a price that’s 49% higher (on average) than the original price. This obviously means that a lot of real fans are not able to go their favorite shows anymore, because they simply can’t afford the “new prices”. The fans that are still able to afford the higher prices end up paying a lot more than they should.

The reason this problem still exists and keeps getting worse, is because the primary market platform has no incentive at all to do something about it. The only thing they care about is the amount of tickets being sold, not who ends up buying them.

How to fix it?

Now this is where Aventus comes into play. For years and years these platforms have profited of fans, but Aventus has come up with a solution that is going to eliminate this problem once and for all; By leveraging the blockchain.

The most important part about solving this problem is regaining control over the secondary market. Therefore, tickets will have an identity associated with them, preventing “bots” to buy all tickets and resell them to whomever they want to, for whatever price they want to. This identity will be securely stored in the blockchain with a unique identifier and this can only be changed if the ticket is sold through the approved secondary market.

What I love most about Aventus is the fact that it finally gives control back to the ones that should have it; the organisers and the fans. No longer do we, the fans, have to pay absurd amounts of money for tickets. No longer does an organizer have to explain to a fan that they basically have no control over it.

To me, this is a perfect example of what the blockchain is all about; Giving power back to the people and taking it from the ones that are trying to abuse it.

Ponzi Schemes GAW Miners and ZenMiner Fined $10 Million Each

Connecticut-based companies, GAW Miners and ZenMiner, have been ordered by the U.S. District Court for the District of Connecticut to pay $10 million each as fines for their fraudulent activities.

The two companies were fronted by Homero Joshua Garza but ceased their operations when accusations leveled against them reached a crescendo. Both GAW Miners and ZenMiner operated as bitcoin cloud mining schemes that sold shares in cloud mining contracts to investors. These shares allowed investors to have a proportionate claim to the gains made through the company's apparent bitcoin mining activities.

Between August and December 2014, the companies sold $20 million worth of shares, which were called Hashlets to over 10,000 investors. However, a large number of complaints from the public prompted the Securities and Exchange Commission (SEC) to investigate the firms. This culminated in the SEC filing a complaint against the Garza and the two firms in December 2015.

The SEC revealed that the two firms simply did not have enough computing power to generate the mining returns they claimed to achieve. Paul G. Levenson, Director of the SEC’s Boston Regional Office stated “As alleged in our complaint, Garza and his companies cloaked their scheme in technological sophistication and jargon, but the fraud was simple at its core: they sold what they did not own, misrepresented what they were selling, and robbed one investor to pay another.”

In typical Ponzi scheme fashion, Garza was using what he made from new investors to pay off old investors, as opposed to actually mining bitcoin and paying out a share of the profit it investors. Naturally, this fraudulent business model was unsustainable and eventually the scheme fell apart. Most victims of the two schemes did not get their initial investment back or realize any profits from their “cloud mining” contracts. The SEC accused Garza, GAW Miners and ZenMiner of conspiracy to commit fraud.

On June 2 2017, the Connecticut District Court issued its final decision on the case. The ruling stated: “The judgment followed the court's May 29, 2017 order finding that the SEC established liability as to both defendants and adequately supported its requests for injunctive relief, disgorgement, and civil penalties.”

The judge ruled that each company would have to pay a $10 million fine as well as a $1 million civil penalty. “The final judgment against GAW Miners and ZenMiner permanently enjoins each of them from violating Sections 5 and 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder; and orders each of them to pay, jointly and severally, $10,384,099 in disgorgement and prejudgment interest. The final judgment also requires each entity to pay a civil penalty of $1 million.”

The SEC still has ongoing litigation against Garza for other fraudulent activity in the cryptocurrency market. The US Department of Justice recently stated that it is negotiating a plea agreement with Garza in connection with Paycoin. He is to plead guilty to one count of wire fraud.

Tokencard.io ICO Misrepresentation

First, the claim:
Tokencard.io at the time of its ICO, marketed itself under false pretenses.

Now, you might be thinking I’m referring to this article.
(Linking directly to the article seems to intermittently ask you to subscribe.)

But that’s old hat. It’s a start, but not the whole story.

The article referenced above got this statement from a VISA spokesman.

“At this point I’m unable to establish any business relationship between Visa and this company. Our lawyers are looking into this and I will come back to you if I have any further insight.”

Now, this was explained away in the Tokencard slack as a misunderstanding/ misrepresentation on the reporter’s side.

Tokencard was not partnered directly with VISA. It was partnered with a VISA issuing service, namely Wavecrest.

This seemed to me a reasonable explanation for what had transpired. However, the question remained.

If this was the case, why not clear up the misunderstanding?
Why not make a public statement verifying that Tokencard was partnered with Wavecrest and not with VISA directly?

Because this.

So. Huh. Hmmm.

Not yet a customer of the company. That was on May 12, 2017.

The ICO crowdsale took place on May 2, 2017. Ten days after the conclusion of Tokencard’s ICO.

What this indicates is clear.

As of the crowdsale, Tokencard.io was not partnered with Wavecrest or VISA. Tokencard.io was unable to produce or promise VISA cards at the time of their ICO.

Tokencard representatives have not yet indicated the status of their partnership with Wavecrest.

Feel free to ask them yourself.

If you feel inclined to tip some ETH:
0x4c6A1C4300208a72B9Eb010b06c1dF62CbeCF084

Tokencard.io ICO Misrepresentation

First, the claim:
Tokencard.io at the time of its ICO, marketed itself under false pretenses.

Now, you might be thinking I’m referring to this article.
(Linking directly to the article seems to intermittently ask you to subscribe.)

But that’s old hat. It’s a start, but not the whole story.

The article referenced above got this statement from a VISA spokesman.

“At this point I’m unable to establish any business relationship between Visa and this company. Our lawyers are looking into this and I will come back to you if I have any further insight.”

Now, this was explained away in the Tokencard slack as a misunderstanding/ misrepresentation on the reporter’s side.

Tokencard was not partnered directly with VISA. It was partnered with a VISA issuing service, namely Wavecrest.

This seemed to me a reasonable explanation for what had transpired. However, the question remained.

If this was the case, why not clear up the misunderstanding?
Why not make a public statement verifying that Tokencard was partnered with Wavecrest and not with VISA directly?

Because this.

So. Huh. Hmmm.

Not yet a customer of the company. That was on May 12, 2017.

The ICO crowdsale took place on May 2, 2017. Ten days after the conclusion of Tokencard’s ICO.

What this indicates is clear.

As of the crowdsale, Tokencard.io was not partnered with Wavecrest or VISA. Tokencard.io was unable to produce or promise VISA cards at the time of their ICO.

Tokencard representatives have not yet indicated the status of their partnership with Wavecrest.

Feel free to ask them yourself.

If you feel inclined to tip some ETH:
0x4c6A1C4300208a72B9Eb010b06c1dF62CbeCF084

Rogue DOJ Continues Obama Era Persecution Of Farmer For Crime Of Tillage

California farmer John Duarte has been locked in a battle for his livelihood against the coordinated persecution begun by the US Army Corps of "Engineers"1under Hussein Bahamas and continued by the rogue Department of "Justice" (archived) against orders issued by the Trump administration. Duarte's alleged crime was ordering a survey of seasonal puddles in his long cultivated farmland and attempting to comply with Bahamas administration regulations which declared the seasonal puddles to be "protected waters of the United States".

Duarte's attempt at compliance with the law through having a site survey taken and following that with shallow tillage around the potential puddles now declared "navigable waterways" lead to the Corps of "Engineers" replying with a cease and desist order. They alleged the shallow tillage around the puddle prone spots was "deep ripping" and dredging of sediment that degraded these now important navigable waterways.

When Duarte protested the allegations, the Corps of "Engineers" proceeded to completely dig out the low spots they had deemed critically endangered navigable waters to a depth in excess of 2 meters for the sake of evidence collection. When the evidence supported Duarte's claims, even the Hussein Bahamas era EPA declined prosecution, but the Department of "Justice" enthusiastically began advocating in court that the entire practice of farming is a collection of crimes against the so-called "Clean Water Act".

The failure of the Trumpreich to stop legacy USG elements from coninuing to prosecute a case that declares agriculture to be a crime demonstrates the scale and persistence of the perverse pantsuit party tentacles obstructing the summoning of The Great Again. The fate of the prosecution and prosecutors persecuting Duarte is likely a solid indicator to watch in evaluating the health of The Great Again effort.


  1. This Corps fraudulently misrepresenting itself as "Engineers" is the same one that transformed the meandering flood plains of the Middle West into violent flumes in order to protect new suburban retail and residential development.  

Pantsuit Macaroon Takes French Presidency Amid Widespread Ballot Destruction Allegations

Pantsuit Party loyalist and nursing home pick up artist Emmanuel Macron has been declared the winner of the French presidential election. Fake news outlets were swift to declare the Pantsuit candidate's victory after polls closed. The actual will of the French people remains uncertain amid widespread allegations that Pantsuit Party loyalists adopted the winning strategy of manipulating the election results by destroying ballots marked in favor of moderate centerist Marine Le Pen of the National Front.

Pantsuit Macaroon Takes French Presidency Amid Widespread Ballot Destruction Allegations

Pantsuit Party loyalist and nursing home pick up artist Emmanuel Macron has been declared the winner of the French presidential election. Fake news outlets were swift to declare the Pantsuit candidate's victory after polls closed. The actual will of the French people remains uncertain amid widespread allegations that Pantsuit Party loyalists adopted the winning strategy of manipulating the election results by destroying ballots marked in favor of moderate centerist Marine Le Pen of the National Front.

How to Keep Your Small Business Safe From Fraud

fraud protection

Every small business in 2017 has to be aware of the threat of fraud. Official statistics show that fraud happens more often among firms employing fewer than 100 employees – and the losses represent a greater slice of the profits of these organizations.

The type of fraud faced by businesses has changed quite a bit in recent years. A complex array of cybercrimes is now deployed by conmen, whose threat is increasingly digital in its nature.

The first step towards helping your business to stay safe is through awareness. Don’t bury your head in the sand and presume they won’t come after you because you’re not ‘big enough’. Everyone’s a target. It’s time to wise up and defend yourself.

Focus on people

You can have the most robust anti-fraud policy in the world, but you are only ever as safe as the people who work for you and with you. That means taking extra care when recruiting – thoroughly checking all references for example – and trying extra hard to keep hold of employees who you can really trust. It’s important to have a similar level of trust in contractors too – make sure the people you partner up with have a good reputation.

A strong ethos in your company – with people caring about what they do and who they work for – is important too. A determination to stay safe and a desire to protect your workplace is a big help.

Training

Once you have the right people, it’s important to make sure they are properly trained for the task in hand. There are new security threats emerging all the time, so it keeping yourself and your colleagues up to date with the latest techniques tried by fraudsters is an ongoing task to be aware of.

Don’t be afraid to admit that you’re unsure of something. Fraudsters are smart and it might be that the nature of your business means you need to call in a professional help to run training sessions, for example.

Policy

Once you’ve accumulated the knowledge you need to ward off fraudsters – online and offline – put it into a policy. Yes, it’s paperwork, but it’s necessary paperwork. Your policy should reiterate the message to staff and make your expectations crystal clear. Make sure this is accessible to everyone and is regularly reviewed and updated.

Robust systems

All of this ‘people’ work does need to be backed up with robust systems and software. Adopt a ‘safety first’ mentality when it comes to the systems that handle sensitive financial data of you, your staff and your customers. QuickBooks checks are a good example here – giving you business checks that are quick to print and impossible to counterfeit. By going for a security-minded option you can feel more confident about the way in which you operate.

Your data, time and money is precious, so it really is worth investing in something that will protect it all.

None of this is a guarantee against fraud, but it will help. When presented with a choice, any criminal will go for the easy option. Don’t allow your business to be seen as the easy option.

If you liked this article, follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin, cryptocurrency, and technology news.

“30 Day” Constipation Of Chinese fiat/Bitcoin Interfaces Continues Well Beyond 30 Days

The "30 Day" suspension of Bitcoin withdrawals from Chinese fiat/Bitcoin interfaces has now passed the 61 day mark with no sign of being lifted. The suspensions began when assorted "wreckers" at Chinese fiat/Bitcoin interfaces began collaborating with wreckers at the People's Bank of China instead of dumping the fiat Chinese renminbi. To be clear 61 days is more that 30 days. It is 30 days followed by another 30 days and still another day with no relief in sight for the bagholders. Sorry for your loss.

“30 Day” Constipation Of Chinese fiat/Bitcoin Interfaces Continues Well Beyond 30 Days

The "30 Day" suspension of Bitcoin withdrawals from Chinese fiat/Bitcoin interfaces has now passed the 61 day mark with no sign of being lifted. The suspensions began when assorted "wreckers" at Chinese fiat/Bitcoin interfaces began collaborating with wreckers at the People's Bank of China instead of dumping the fiat Chinese renminbi. To be clear 61 days is more that 30 days. It is 30 days followed by another 30 days and still another day with no relief in sight for the bagholders. Sorry for your loss.

Fake News Interest In Jewish Center Safety Drops Precipitously After Arrest Of Second Suspect

When threats to Jewish community centers continued after the arrest of leftist fake newsman Juan Thompson, the fake news media drummed up fear of a fake white supremacist bogeyman behind continued threats. A second arrest however has entirely killed leftist enthusiasm for continuing to cover the subject. A young Israeli Jew was arrested earlier this week for what appears to be making all of the threats not made by Juan Thompson. On the day of the arrest a token amount coverage was given to the public defender assigned to the suspect. Notably, the court appointed attorney is arguing the arrested party is not criminally culpable due to mental defect.

Instead the fake news media has redirected their effort into doubling down on their assertion that "America First" is a Russian slogan that supports German National Socialism. This continues showing how the Fake News media is hopelessly disconnected from the reality of how little America, particularly white America, cares about Jews and other minorities.1


  1. And forgetting that there are attitudes far less friendly than indifference.  

USG.NSA Head Rogers Perjured Self On Eavesdropping

During a hearing on Monday Mike Rogers, head of the USG.NSA testified along side FBI Director James Comey that US President Donald Trump and his team were emphatically not eavesdropped upon. This was followed on Wednesday with the revelation from House Intelligence Committee chair that not only was there tremendous eavesdropping, the traditional redaction and masking of names was not done before the fruits of eavesdropping upon Trump were disseminated to political operatives.

The flensing of the legacy "Deep State" is gaining momentum as Rogers clearly perjured himself while James Comey at the very least violated his duty of candor while testifying.

Amazon Rolls Out An Index Librorum Prohibitorum

Trump's chief strategist Steve Bannon recently compared the ongoing controlled demolition of Europe by marauding orc hordes to a scenario portrayed in an obscure novel, The Camp of the Saints (1973) by Jean Raspail.

The response by Amazon, the world's foremost peddler of DRM-laden electronic chumpware "books" was swift, merciless, and mindblowingly "original" : let's ban some books! And so if you want to obtain a copy of The Camp of the Saints from Amazon, you will now have to settle for a $2,000 collectible edition, because the Kindle chumpware item has vanished, having been made "…unavailable because there are significant quality issues with the source file supplied by the publisher. The publisher has been notified and we will make the book available as soon as we receive a corrected file."

Similar "quality control" problems have immediately cropped up in another alleged Bannon favourite, Julias Evola's Revolt Against the Modern World. And it turns out that Hitler's mega-bestseller Mein Kampf has also sprouted some sudden bit rot.

Peace in our time.