Technology

South Korean cryptocurrency startup reportedly pulls a $2.7M exit scam

2018 will certainly be the year of the scam at the exit, another initial offer of coins (ICO) has disappeared from nowhere – just as the crypto money invested with millions of people [

The Pure Bit chain strings company apparently recovered $ 2.7 million in cash after collecting 13,000 Ethereum in an ICO. The transaction history shows that, a few hours after removing all the funds raised from its portfolio, the company removed its website. He now returns a blank page.

Victim Report Pure Bit has already deleted its social media accounts; he has also removed all users from his dedicated KakaoTalk newsgroup.

An archived version of its website indicates that the company was raising funds to create a new type of "mining coin" (based on the Ethereum standard ERC20 ) which pays dividends to the holders. She also planned to launch a cryptocurrency trading desk that would reward customers who used her native PURE coin. But now, it seems that none of these promises was authentic.

Pure Bit also organized an affiliate campaign that rewarded users with additional chips each time they attracted new investors. the minimum amount to enter the symbolic sale was about $ 1,000 (5 ETH). According to the site now gone, the company started raising funds on November 5th. She intended to keep the sale open until November 30th.

This is the latest in a series of outgoing scams that have occurred in the blockchain space in 2018. Indeed, reports suggest that crooks to the output stole over million dollars of cryptocurrency over the past two years. . Subsequent investigations suggest that the actual sum of the cryptocurrency stolen could be even higher.

Of course, there is always a chance that the abrupt disappearance of Pure Bit is simply a silly marketing move (although this seems somewhat improbable at this point).

Posted on November 9, 2018 – 15:17 UTC

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