JoyToken and RepuX, both startups dealing with Blockchain, reportedly jointly pulled Initial Coin Offering exit scam, as reported by The Next Web. Between March and April last year, these 2 organizations ran their coin offering promotions, eventually acquiring collections of values 3.3 and 4.7 Million USD, respectively. So far the plans stated by these companies, RepuX officials commented that the company was in an endeavor to develop a data marketplace, powered by Blockchain. On the other hand, JoyToken was at the mission to come up with a decentralized platform for gambling that will be driven by its captive tokens.
The most sensational Blockchain News at current times
The most talked-about Blockchain News at recent times, the offices of both these organizations in the United Kingdom were shut down a week ago. In addition, the websites as well as the Telegram Channels for these companies were also closed down. Neither of these organizations posted any tweets for the last one year.
Andrew MacDoanld, CEO, JoyToken, had previously addressed RepuX as a sister concern, in one of this Official Twtits, somewhere by the start of 2018. In addition, both these companies shared some of the advisors in common and they even secured the initial community management resources from Amazix, a website, dealing with Crypto-centric marketing resources. However, these organizations were eliminated from the platform, after they refused to pay the promoters the financial amount that was initially agreed upon. AmaZix even came up with an official forum announcement, stating that these organizations are unwilling to pay the amount committed to the bounty participants, as they could not harvest the expected results from the ICO.
A few major Bitcoin Scams News happening in the recent past
As Previously reported by Cointelegraph, based on a survey conducted by Statis Group, an ICO consultant, more than 80% of the alleged ICos made in the year 2017 were scams. The largest Bitcoin Scams News that took place in the year involved Pincoin, Savedriod, and Arisebank, with the financial values of the scams ranging between 50 and 650 Million USD. However, if evaluated in terms of the percentage of money that was spent on Initial Coin offering, was as low as 11% of the total money invested.
A more contemporary news exhibit that Facebook has relaxed the stringent policies about advertisements related to Cryptocurrencies and Blockchain that it previously held. This was done to protect the users from the traps of scams. Even after the recent changes, still, Facebook does not allow advertisements related to ICO to be published on its platform.