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Leaders Of International Central Banking Remain Unimpressed On Facebook's Libra - "They Need To Make a Better Case"...


The Basel-based Bank for International Settlements is the bank of central banks.


General manager Agustín Carstens sits down to discuss central bank digital currencies and why there’s no “clear case” for an e-franc in Switzerland. 

Then, discussing Facebook's Libra, Carsten calls it a “provocative proposition” - but it still needs to build a better case to convince them.

[Video Courtesy Of CNN Money Switzerland]


BUSTED: 6-Month Manhunt Ends As Police Arrest... An Instagram Influencer?! Meet The Serial Sh*tcoin Peddler...

One after another, Aziz "Com" Mirza pushed any scam or ponzi scheme with a referral program, as long as he thought it would make him a profit.

Aziz's verified Instagram account is still online, and served as the primary platform to scam his 800,000+ followers.

But posting commission-earning affiliate links to other people's scams started getting old - he knew how much the owners of these scams were keeping, compared to his small cut.

While he is a Canadian citizen, he's also Arab, and claimed to be a Muslim. What seemed like a smart move at the time, he used this to target rich middle easterners - a move that will come to backfire on him.

With an established audience, and plenty of practice - he just couldn't resist starting a scam of his own...

Aziz proudly introduced what he called "Habibi Coin" claiming it somehow was the only cryptocurrency compliant with the strict Muslim Sharia guidelines. 

Ironically, the Twitter profile for Habibi Coin, which hasn't been updated since 2018, still has a pinned tweet that warns their followers to avoid getting scammed - cautioning them that "Scammers are impersonating official @HabibiCoin..."

Aziz pushed his coin with a boldness he hadn't shown previously.  Instagram posts weren't enough, so he then talked his way into a business club called the 'Muslim Entrepreneur Network', where was able to give his pitch on stage and in person to large audiences.

With promises that investors will profit or he would pay their losses out of his own pocket, he brought in a wave of 1500+ new investors with a $2000 minimum - but most invested much more.  $25,000+ investments were common, with the highest known so far from a single person being $500,000.


Aziz gives his pitch for Habibi Coin.

"Com deluded us into believing that he was an immensely successful businessman in Dubai. We were dazzled by his upholstered lifestyle and thought he could be a value addition to the network"
says the group's founder Harun Rashid.

There was even a brief period before everything came crashing down where Aziz attempted to break into US/Canadian markets, as seen in a video and podcast from US 'get rich quick' personality Tai Lopez. Surprisingly, these can still be viewed.


We attempted to reach out to Tai for a comment, and have not yet received a response.

Tai's disclaimer does warn that he "may receive compensation for products and services recommended to you" - so perhaps Aziz just paid for the right to play 'expert investor' on camera.

But in reality, Aziz couldn't even scam right.

Okay, there's no 'right way' to scam, but some scammers are smarter than others - and Aziz is far from genius.

Habbibi Coin was never listed on any exchanges, there was an ICO, followed by an announcement that they were extending the ICO dates to raise even more... and well, that's it.

Having covered so many scams, I've noticed many are smart enough to spent at least some of the funds raised on getting the coin listed on exchanges, and doing some post-ICO marketing - this way they're doing something besides just raising funds.



Sure, the scammer was never qualified to launch a real product or service, so the ending is the same - a worthless coin and a rich 'founder.  But at least that founder can blame everyone else by shrugging their shoulders and pointing to "the market" as the reason their coin lost 99% of it's value.  Then, just hope playing dumb works in your favor - unfortunately, sometimes it does.

Then, it all caught up with him...

Aziz has just been arrested in Dubai, after a resident of the nation told authorities he was a victim. Unknown to Aziz, for the last 6 months UAE authorities had been waiting for his next visit.

He is currently being held in Al Awir prison, Gulf News confirmed, with only the general charge of "fraud" given publicly thus far.

While I can't imagine what his defense would be regardless of where he was apprehended, there's not many worse places to be under arrest than in Dubai.  It's not the kind of country where you can hire a high profile lawyer to find some technicality/loophole to get off on.

So while he hasn't gone to trial yet, I feel comfortable breaking one of journalism's rules and jumping to conclusions - we won't be hearing from Aziz for awhile.

When released, he'll likely have charges in other countries to face, with the US, Canada, and Greece all saying he's under investigation as well. After serving his sentence, the UAE would then release him straight into custody of one of these countries when the time comes.

Any current and potential future scammers reading this - learn from Aziz's mistakes.  You can't be a successful scammer without making so many enemies, that you end up getting caught anyway.

For everyone else - I wish I knew what to tell you, some predictable advice like 'if it sounds too good to be true, it probably is'?  The problem is, every honest scam victim I've talked to will admit they already knew this.

Ever try to warn people they're involved in a crypto ponzi scheme, while it's profitable and paying? Try it sometime and watch them tell you how you're just mad that you missed out, while they argue to defend the people who will disappear with all their money the following week.

So - there is no advice to give people who already know better, and do it anyway.  That's why instead, I would just like to kindly request that you don't overplay your 'victim' status if you fall for one of these - you're really owed 50% of the blame.

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Author: Ross Davis
E-Mail: Ross@GlobalCryptoPress.com Twitter:@RossFM

San Francisco News Desk



Bispex Token (BPX) to be Listed on 10 Exchanges...

Prediction market platform Bispex announces that eight of the most popular digital asset exchanges will be listing its Bispex Token (BPX). These are IDAX, DigiFinex, BW, LBank, CoinAll, DragonEx, TopBtc, and Coineal, with two more expected to confirm shortly. IDAX is the first exchange to approve of our Bispex Token listing. It will begin deposit on November 11, and by November 12, trading will be opened. There will be two trading pairs available on the said exchange: BPX/USDT and BPX/ETH. All of the other exchanges are also expected to open trading of BPX on the same day as IDAX. This would allow BPX to be listed on 10 exchanges in a single day — an incredible feat any crypto company would welcome and celebrate at any given time. BPX is an ERC-20 token created to become the chief asset in the Bispex platform. The team has purposed it to be compatible with the ERC-20 standard so that users will be able to comfortably store it on various crypto wallets. Bispex crypto prediction platform aims to become the one-stop prediction arena for cryptocurrency price. Due to the fact that cryptocurrencies are decentralized, and are volatile in nature, it is very difficult for anyone to manipulate their price. The platform explains that it is the exact reason why they are only focusing on cryptocurrency price predictions. Other topics, like politics, weather, and others, can have arbitrary or disputable results which could delay the handing out of payments and thus besmirch the reputation of the platform. Users can make their predictions on the platform through the use of BPX. This is due to the intention of the platform to make trades and payouts more liquid. Moreover, it is also mulling over the creation of an exchange service in the future to better serve its users. Bispex is led by CEO Ashish Babar, along with CTO Mike Kwon, CSO Desiree Yoo, and CMO Patrick Chun. They are based in Hong Kong, and they are working with a team of blockchain and web developers. Users are encouraged to follow Bispex’s social media accounts to get updated with the latest developments in their platform, as well as with the most recent news about its exchange listings. Bispex’s official social media handles: Facebook, Twitter, Instagram, LinkedIn, Telegram, and Medium

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Information Provided via Press Release
Distributed by Global Crypto Press Association Press Release Distribution for industry.



No-Fee Trading Of Over 25 Coins, With A $25 New User Bonus - Now Available on both iOS and Android!

The Voyager App
Crypto trading platform Voyager, created by former execs of E-Trade, Uber, and other giants, has been on a roll with one big announcement after another.

Android users are probably the happiest however, as iPhone users have had the app for months now - the Android version is finally available!

The list of supported coins is growing fast...

It seems like every month a couple more are added, the current list of supported assets is: BTC, XRP, ETH, BCH, LTC, EOS, BSV, XLM, TRX, ADA, XMR, IOT, XTZ, DASH, ATOM, ETC, NEO, BTT, ONT, DOGE, BAT, ZRX, ZEC, VET, QTUM, OMG, DGB, ICX, XVG, and ETHOS.

Ethos will soon re-brand as their native token Voyager after they acquired the digital wallet company earlier this year.

Claim $25 worth of any them, free...

If you haven't tried it out yet, you can still claim the $25 welcome credit, which comes in BTC but can instantly be traded for any of the coins the platform supports.

Not A Promotion: No trading fees, EVER...

This is why it would be worth getting the app even if they weren't giving the $25 bonus.

So, how are they staying in business without charging fees? Every time you want to buy or sell, they search multiple exchanges, instantly locking in the best price at the moment. 

Only after they find you a price below the market average, they can earn a fee by splitting any savings they find with you.  If they can't find you a better rate, you still get your coins and they eat the loss!

But supposedly, 90% of the time they're successfully finding below market deals.

Just announced: Earn interest!

Their most recent announcement allows you to earn from the crypto that you're saving!

The program will begin with 3% on Bitcoin and 5% on Ethos.

All you have to do is... nothing.  Just leave your coins sitting in the app, you'll get an interest payment every month.

Get $25 and open your free account here.

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Author: Oliver Redding
Seattle News Desk


Stable Coins - From Completely Off Their Radar, To Regulators New Obsession...

It's always been one of the most discussed topics in crypto - regulations. That's because there's virtually infinite space to speculate on what may happen, and if and when it does, odds are it will effect you for better or worse.

It was in one of these recent conversation that it suddenly hit me - "do you realize how strange it is that every coin we've mentioned so far is a stable coin!?" I said.

For years we functioned under the belief that regulators were far too distracted with coins that could be pumped and dumped, and the launch of new ones (ICOs), to divert any resources to coins that will always be worth the same amount, give or take a couple cents.

Then, just about a year ago - the Tether controversy dominated headlines. 

The 'news' was really just the rumors the crypto world had been hearing for awhile, suddenly receiving a lot of mainstream press.  The accusation being that the USD reserves that 'backed' USDT's pegged $1 value were a lot smaller than the supply of USDT floating around the market.

It turned out true, and Bitfinex resorted to some creative crowdfunding to close the gap. I'm still unsure on what the final answer to 'how did this happen' was. Bitfinex blamed corrupt bankers in corrupt countries, and the fairly large group of traders who hate them insisted that wasn't enough to explain it all.

At the time the uncertainty brought Tether's growth to a grinding halt, but they've now picked up where they left off and Tether's popularity is on the rise again, and has been for several months now.

Tether actually plans to aggressively work to increase adoption of its USDT token, recently partnering with several e-commerce organizations. The Principal Technical Director of Tether, Paolo Ardoino, says "Merchants need to have a stable currency to protect their business from the volatility of other crypto assets such as Bitcoin . Tether is being widely used by merchants and e-commerce teams, but since this is a new trend we are still collecting and evaluating the data”.

Like it never even happened.

In retrospect, it's like night and day looking back on countless people making predictions of the impending doom of Tether and Bitfinex, compared with what actually happened.

The only lesson learned - it's impossible to predict what regulators will deem worthy of 'cracking down' on.  This uncertainty has motivated investors to do what they can to play it safe whenever possible, with many deciding to transfer assets to a regulated cryptocurrency exchange instead.

Just when you thought stable coins were out of the spotlight - along comes Facebook.

With the Tether fire still smoldering but no longer a ‘hot topic’, it felt like we were ready to move on, and potentially enter a period with no major controversies.  Instead, what came next was so controversial, news outlets that never cover crypto felt the need to jump in. 

The announcement that Facebook wants to create a cryptocurrency sent politicians into a frenzy.  The timing couldn't have been worse, following a string of non-crypto related scandals.

It's a dangerous mix - lawmakers who don't understand the tech, and with the belief they're stopping an evil company from some huge power grab.

On that note, we have the first ridiculous 'solution' to be proposed - Sylvia Garcia representing Texas 29th congressional district wants to classify stable coins as a security, proposed in what she's calling the "Stable Coins Act of 2019".

The one hope we have now as an industry is that finally there's a presence in Washington of lobbyists who can hopefully educate lawmakers and help insure attacks meant to stop Facebook specifically doesn't come with massive collateral damage.

So that's where things stand today, and really, literally anything can happen from here. So I will try my best to keep all of you updated!

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Author: Ryan Stewart
Northern California News Desk


Facebook's Libra "In Serious Trouble"...


When Facebook first announced it was getting into the crypto business—with a basically unregulated currency called Libra—the reaction from Wall Street and government bankers was about as expected. Fast-foward a few months, and Libra is in trouble. The social media giant had lined up a long list of corporate backers for the initiative, including major players in the payments space. And in October 2019, several prominent backers began to back out.

Video Courtesy Of CNBC


Top Exchanges to List Yap Stone, Trading and Snapshot Events to Happen...

Eight of the most notable cryptocurrency exchanges are simultaneously going to list Yap Stone (YAP), the native asset of the Yap Chain Foundation, on Monday, November 4, 2019. To turn on the heat, these exchanges are holding events where users can win some rewards to celebrate this grand listing moment of Yap Stone.

Coinsuper will be having a YAP trading competition beginning at 12:00 (GMT +4) on November 5, 2019, and will conclude at 12:00 (GMT +4) on November 10, 2019. Competitors must have traded at least 15,000 YAP in the entirety of the event. Those belonging to the top 5 will share 10,000 YAP in proportion to their respective trading volume in the combined trading volume of the top 5 contenders.

Those who belong to the top 6 up to the 200 will share 90,000 YAP rewards according to the proportion of their respective trading volume in the total trading volumes of the said bracket. On the other hand, Mongolia-based IDAX will be having a snapshot event, wherein it will take pictures of its users’ YAP holdings daily, beginning from November 5, and will end on November 14, 2019. To qualify for the event, each user must have passed its Know-Your-Customer (KYC) process. Also, each must have a minimum of 1,000 YAP on his account.

Those who will satisfy IDAX’s requirements will have their share on the 30,000 YAP reward, with each rewarded based on their YAP holdings. Further information on Yap IDAX Giveaway is available here.

Coinall and DigiFinex also already published the events that will happen on their platform. Along with the said exchanges, 4 more exchanges are also going to list YAP on November 4. These are P2PB2B, Coinbene, BW, and DragonEx. These are notable names in the crypto industry that have proven their integrity and competence.

Yap Chain is a decentralized blockchain-based ecosystem that aims to turn a smart city into a single mechanism that caters to its users by facilitating smart payments, contracts, voting, MOUs, to name a few, without the interference of any intermediary.

YAP will prove critical to the success of the Yap Chain’s vision, even calling it the “key currency of smart city.” In light of this, Yap Chain Foundation Advisor Perry Ha said that this recent milestone would create a “great opportunity for Yap Chain to become the representative coin of Korea.”

Given that all of these are willing to enlist YAP, with Coinsuper and IDAX even going the distance by holding the aforementioned events, the foundation feels truly honored to serve its users better. But this is just the beginning, there will be more events announced soon.


Official Website: http://yapstone.pro

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Information Provided via Press Release
Distributed by Global Crypto Press Association Press Release Distribution for industry.



November Crypto Outlook: Will the New Bitcoin Rally Continue?

Welcome to the November 2019 Crypto Outlook with Contentworks, an agency specializing in content marketing for financial services, crypto and blockchain.

Cryptocurrencies have been the best-performing assets in the financial market this year. Litecoin, Bitcoin and Ethereum have gained by 138%, 77% and 26% respectively. Gold and S&P 500 in comparison have gained by 16% and 20% respectively this year. The gains seen this year are in contrast to the significant losses that happened in 2018. In October, the price of Bitcoin rose by 10% after the sharp declines experienced in the previous three months.



November will be a significant month for Bitcoin and other cryptocurrencies. The market will scrutinise the documents released by Canaan, as the company prepares for its IPO. Canaan is the second-biggest Bitcoin mining machine maker. The company has already filed papers with the SEC and is offering its size at $400 million. The company attempted going public in Hong Kong in 2018 but was rebuffed by the exchange, which considers crypto IPOs as being premature. In the latest SEC filing, the company said that it lost $48.2 million in the first half of the year.

The market will also focus on China, which is expected to launch its digital currency during the month. The People’s Bank of China (PBOC) has been building a digital currency as it hopes to ease cash transfers. The currency will be a digital version of the yuan. Critics say that the currency will lead to increased surveillance by the Chinese government. The country accelerated development of the currency after Facebook unveiled its desire to launch Libra. In a statement a week ago, President Xi Jinping hailed blockchain and suggested that China should seize the moment. This led to Bitcoin’s price to jump by 15%.

Traders will also focus on Libra, the cryptocurrency project that is being built by Facebook. In October, Libra was in the news as some of its biggest backers like Visa, Mastercard, and PayPal withdrew from the association. These companies are afraid of the spotlight that Libra has gained from global regulators and politicians. European leaders like the French finance minister have warned that they will not allow Libra to take over from the euro. In testimony to Congress, Mark Zuckerberg urged American politicians to support Libra because other countries like China would be winners if Libra was left to die.

The market will also be looking at the crypto-loan market. In a recent article, Bloomberg wrote that the loan market is worth more than $5 billion. The industry began less than two years ago and accelerated in 2018, during the big crash. Holders who were afraid of selling their Bitcoins loaned them out to people with the goal of earning interest. Other people borrowed money and used their coins as collateral. There are concerns that the new market could pose significant risks in the market.

There will be several major crypto events during November. In Athens, enthusiasts will gather for the Decentralized event on October 30 to November 1. This is one of the fastest-growing crypto-related events. Charlotte Day, the creative director of Contentworks will be a speaker at the event. In Mexico City, Meridian, the first Stellar Conference will take place. This event will target people interested in the Stellar industry. Other main events to watch will be Convergence in Spain, The Capital in Singapore, and Indonesia Blockchain Week.

At Contentworks, our team of financial professionals closely follows market movements for FX, Crypto and other tradable instruments. We are proud to serve some of the biggest crypto and fintech companies in the world by delivering high-impact articles, videos, PRs and white papers.

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Information Provided via Press Release
Published By GCP Press Release Distribution Services For Industry.




Yap Chain Foundation Listing Yap Stone on 8 Top Exchanges...

Yap Stone Cryptocurrency
The Yap Chain Foundation, the company responsible for the creation of the coin, Yap Stone, is proud to announce that they are listing their coin on eight top-tier global exchanges. The event will happen on November 5, 2019. Yap Stone will be available for trading at 4:00 PM (UTC+8).

Yap Stone will be listed on the following exchanges — P2PB2B, (Estonia), DIGIFINEX (Singapore), COINBENE (Singapore), BW (Australia), IDAX (Mongolia), Coinsuper (Hong Kong), DragonEx (Singapore), and Coinall (Hong Kong).

The list has three of the top 10 exchanges listed in CoinMarketCap, three of the top 20 exchanges listed in CoinMarketCap, and the rest are also popular exchanges by adjusted volume, as of October 30, 2019. According to Yap Chain, YAP Stone will be listed on five more exchange platforms, which include the top exchanges in Korea in upcoming months.

Lloyd Park, the Chief Executive Officer of the Yap Chain Foundation, also shared his positive sentiments. According to CEO Park, "real users in the cryptocurrency market are on the exchanges. Most of the cryptocurrencies in the market don't have their users. After restructuring in this year, the cryptocurrency market has increased its barriers to entering the major industry for projects." 

He added that it is very important to know which exchanges to list on, and he said that this would help Yap Chain to gather users and create new values. "We want to enter the market meaningfully through the simultaneous listing of 8 top global exchanges," he mentioned.

Yap Chain Advisor, Perry Ha, the Chief Executive Officer of Draper Athena, one of the best venture capital firms in the world based in Silicon Valley, Korea, and China, expressed his delight for this event. In an interview, he said, "two years ago, Korea led the global cryptocurrency market, but now it is being sidelined from international flows. I think it's a great opportunity for Yap Chain to become the representative coin of Korea to change this flow."

Yap Chain is a decentralized blockchain ecosystem that turns a Smart City into a single unified computer that enables users to make smart payments, contracts, MOUs, voting, and more, without the involvement of a third-party, allowing users to enjoy a convenient and secure city life. Yap Chain calls Yap Stone the "key currency of Smart City."

According to the Yap Chain Whitepaper, "YAP Stone will formulate a Shared Economy platform that will distribute profits generated by the community back to the community that has contributed and becomes the Key currency of Smart City with Cryptocurrency with credibility and guarantee."

Official Website: http://yapstone.pro

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Information Provided via Press Release
Distributed by Global Crypto Press Association Press Release Distribution for industry.



3D Without Glasses! Patented Tech To Disrupt Home Viewing & Gaming Markets - psHolix Welcomes Traditional & Crypto Investors...

3D viewing is coming to the home viewer, via psHolix's patented the pseudo-holography display technology. While many first assume this means expensive equipment that will be useless for anything else, giving it limited appeal, psHolix's technology provides a solution to bring 3D into the average home that is both practical, and accessible.

That's why psHolix's 3D technology has true potential for mass adoption by the home user - one screen plays all your videos! The same screen can be used to play regular video content, then instantly used to playing content recorded in 3D - all without requiring anything from the viewer. psholix just won the prize for the best display at the Korean Display Society Award, sponsored by Samsung.

Get in on the ground floor:

psHolix, the award-winning, cutting-edge Swiss display technology company, is now raising funds on the Hybse Exchange, & everyone can grab a huge discount.

Exciting news just in for crowdfunding investors, crypto investors, gamers, and everyone interested in revolutionary cutting-edge 3D technology. psHolix is now offering highly advantageous discounts, and even more good news, there is no minimum investment, so this opportunity is open to absolutely everyone.

The shares of the Swiss company psHolix are crytonized. There is a real share behind the cryptonized share. And the best part, psHolix is paying dividends, so profits without selling any coin is very desirable. psHolix combines the best of both worlds. A real asset distributed on the blockchain. This solution is attractive for Traditional and Crypto Investors.

No Minimum Investment Required

Everyone wants to experience high quality 3D without glasses, and now patented breakthrough technology by psHolix, has made this a reality. Over 2 Million USD have been invested so far, and unlike many other companies which only give opportunities to wealthy investors, in the spirit of global equality in technology for all, the team at psHolix made the decision to empower everyone, so they can get in on the ground floor of this brilliant 3D revolution, and make any size investment, no matter how small. Investments can easily be done via bank transfer, debit card, credit card, Bitcoin (BTC) and Nem (XEM).

Transforming the Hugely Popular Gaming MarketThe global demand for spatial displays is colossal. For example, the gaming market, which is predicted by market researcher, Newzoo, to be worth over $180.1 billion by 2021, is rapidly becoming stronger than ever. But in order to give users the best possible experience, it needs holographic displays, and psHolix has the tech to transform any game into a 3D Game. Indeed, all video games should have the capacity to be played holographically, and in the future, consumers are unlikely to want anything less.

psHolix Awarded At iMiD 2019 Sponsored By Samsung.
Next Generation AI-Driven Display Technology

Based on its state-of-the-art technology behind its eyewear-less 3D displays, psHolix has build the following technologies: Virtual Reality (VR, AR, MR) Headset Software - autonomous car software, and all their demo products are ready. The company's patented technology offers 1,000 times more perspectives than the competition, and to that end, a far better natural perception. It has conducted 12 years advanced research in autostereoscopy. Further, it offers the highest fidelity in its spacial viewing experience for everyone everywhere (no transition zones, multi users, and no need for head tracking).

Other Advantages

psHolix is compatible with all contents (Games, TV, DVD, YouTube, and so on). Autonomous driving and flying vehicles will be also transformed by pioneering psHolix software to provide more detailed and clear spatial information. Moreover, the software is well-matched for all technologies (2K, 4K, 8K, LCD, OLED, HDR, Retina etc.). Further, it offers 2DTV backwards compatible with the highest resolution. The health advantages of no headaches or eye strain for users who watch 3D content over long periods of time. The technology has the advantage that it can be applied on all resolutions and sizes. Simultaneous 2D and 3D is possible in just one window, without any loss of quality.

psHolix also offers a multi-viewer solution, so that everyone can see the same spatial content in front of the screen. There is a far better depth perception with stereo based extension (the image seems deeper), and a cool walk around effect. Moreover, viewers enjoy 2D and 3D in perfect HD quality, and a clear image everywhere, as there is zero ghosting, because of invisible transition zones. Further, the technology is compatible with all content, and image quality improvements (HDR, HDR+, etc.). There is no limit in screen sizes, and it works on mobile phones, tablets, laptops, TVs, etc.

First Round Fundraising Is Open Now - Early Participation Incentives!

The investment rounds are as follows:

Period 1 (20% discount): October 28 — November 10.
Period 2 (15% discount): November 11 — November 24.
Period 3 (10% discount): November 25 — December 8.
Listing and Live Trading will take place on December 9, 2019.

Participate now @ www.psholix.com/ibo

Company Overview
psHolix now owns more than 57 global patents, putting it at a clear advantage to potential competitors. The inventor of the technology, Dr. Naske worked for 10 solid years on this project, before it was merged into psHolix AG. psHolix AG was founded in 2015 and is based in Basel, Switzerland. 

Contact Information:
psHolix AG
Dr. Rolf-Dieter Naske
+41-61-6382020
Contact via Email: 
www.psholix.com 

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Information Provided via Press Release
Distributed by Global Crypto Press Association Press Release Distribution for industry.



Inside The Final Days Of The $3 BILLION Chinese Crypto Scam... And There's ANOTHER One Soon To Collapse!

Remember Bitconnect? Well, the scammers behind PlusToken would call that child's play.

Bitconnect held the record as the largest crypto scam to date, pulling in around $1 billion - then came PlusToken which grew to 3X that size, and showed no signs of slowing down when they pulled the plug.

But you've probably never heard of it. The ponzi scheme targeted Chinese traders almost exclusively, and managed to remain fairly unknown throughout the English speaking cryptocurrency community.

Considering a ponzi scheme's growth relies completely on word of mouth, that language barrier played a huge role in it not breaking into the US or European markets.

One post on the Bitcointalk message boards shows a perfect example of the disconnect between the Western and Asian crypto communities, where one user asks "Is it legit?" - the responses are generally people who haven't heard of it, and just one person promoting it. The thread ends with the official news that PlusToken has disappeared with everyone's money.

An estimated 10 million people scammed out of over $3 billion...

You won't find a Chinese crypto fan who doesn't know a dozen people who were caught up in it, which isn't surprising when you hear the scammers held over $3 billion worth of cryptocurrency when shutting down operations and attempting to disappear.

New pieces of the investigation have just been shared with the Global Crypto Press, giving a glimpse into the last days of PlusToken as the scammers behind it panic and attempt to clean their crypto, and erase the trail leading from their victims to themselves.

Scrambling to erase that trail they flooded Bitcoin mixers with upwards of 50,000 BTC (a mixer swaps coins between random anonymous users, juggling them internally before finally sending cryptocurrency back to the user, causing the coin to become untraceable.)

But the volume of coins they needed to clean was far beyond what these mixer sites are able to process, if there isn't an equal amount of coins being sent to the mixers by other people, they're just swapping coins with themselves.

That's when they took to exchanges with higher volume such as Huobi and Bittrex, attempting to manually mix them themselves.  The hope was that they could sell dirty coins while buying up clean ones - but anyone experienced with blockchain technology could tell you, this isn't a great plan.  Adding a couple entries to the ledger, and falling extremely short of 'hiding their trail'.

This is where everything fell apart. The coins they were trading on exchanges led right to their origins. At this point, it didn't matter anyway.

Because what the PlusToken leaders didn't know, is that they were already being watched.

This becomes clear looking at the timeline starting June 27th, the date when users began reporting that their funds were no longer accessible and the PlusToken platform was down. Just 5 days later on July 2nd, Chinese authorities announced 6 people behind the scam were already behind bars.

Funds currently accounted for include 50,000 BTC sent through mixers, 35,000 floating around the market, and 20,000 sitting in wallets still untouched.

Security audit firm Peckshield created this visual aid showing PlusToken's fund distribution.
Authorities are still searching for additional key figures behind the scam who fled China before arrests could happen.

Scammers know - you can't trust a scammer.

In a twist of irony, those who escaped arrest are unable to spend any of their earnings. Out of fear they could end up turning on eachother, the wallets holding the scammed crypto uses multisig.

Multisig means it requires keys from more than 1 person to unlock, so if some members of the criminal group are in prison while others are free - everyone is locked out.

This includes the Chinese government, so you can be sure they're aggressively hunting down anyone who could possess one of the private keys needed to unlock the PlusToken wallets.

If this wasn't enough - there's another one coming!

An unexpected find while investigating PlusToken - an alarming number of people who were promoting it were also recommending another, called 'CloudToken'.

Clearly, yet another ponzi scheme that's spreading fast through Chinese social media.


I also noticed that for many, PlusToken served as a wakeup call.  Ignorant users who were once blindly excited about promises of 10% monthly profits (120% per year, like I said - clearly a scam) are now beginning to ask the right questions - such as 'how?".

But for now, CloudToken is flying high - partying hard like they're using Bitconnect 2017 as their guide.

When the day comes, tracking down the people behind CloudToken won't be a challenge - he goes by 'Ronald Aai' and he just couldn't resist the spotlight. 


I was unable to locate any trustworthy data on CloudToken to estimate how bad it will be when it comes crashing down, but based purely on levels of chatter - if PlusToken held $3 billion, I would guess CloudToken holds around $1 billion.


Closing Thoughts...

It seems like every geographical area, divided by language differences, will experience some kind of crypto scam of their own.

The victims of today become the people who warn others in the future.  But you don't get an army of anti-scammers until a lot of people get scammed.

The mixture of excitement and confusion surrounding cryptocurrency has proven to be the perfect target for these awful, scum people - and as much as I wish I could wrap this piece by sharing the simple solution, I don't think one exists. I think it may just be an unavoidable bump in the road for every new market crypto breaks into.  Warn people if the opportunity presents itself, but they may just have to learn the hard way - if it's too good to be true.. you probably already knew.

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Author: Ross Davis
E-Mail: Ross@GlobalCryptoPress.com Twitter:@RossFM

San Francisco News Desk




Mike Novogratz On The Bad News Behind This Week's Slump - And The Good News That Will Pull Us Out Of It...


Michael Novogratz, Galaxy Digital CEO discusses Bitcoin's recent price movement, the challenges major tech companies like Facebook and Telegram are facing from regulators, and the big developments on the horizon that should renew excitement to the market following this week's slump.
Video Courtesy of CSPAN