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Home / Technology / The launch of the South Korean cryptocurrency has resulted in a scam of $ 2.7 million

The launch of the South Korean cryptocurrency has resulted in a scam of $ 2.7 million



2018 will surely go down, as the year of withdrawal fraud has vanished from scratch for another year of the first coins (ICO) – along with millions of cryptocurrencies from investors.

Blockchain company Pure Bit Apparently, $ 2.7 million of the money was lost to investors after collecting 13,000 Ethereum in an ICO. The transaction history shows that the company shut down its website hours after all the funds raised were pulled out of the wallet. It will now return a blank page.

Report of Victims Pure Bit has already deleted its social media accounts. It has also thrown out all users from its dedicated KakaoTalk chat group.

An archived version of their website says the company is raising money to create a new type of "mining coin" (based on the ERC20 standard by Ethereum) that pays dividends to the owners. It was also planned to set up a Crypto Currency Exchange desk, which would reward customers for using their native PURE coin. Now, however, it seems that none of these promises were authentic.

Pure Bit also ran an affiliate campaign, with users receiving additional markers every time they brought in new investors. The minimum amount for entry into brand sales was approximately $ 1

,000 (5 ETH). According to the now defunct site, the company began raising funds on November 5. It was intended to keep the sale open until the 30th of November.

This is the latest in a series of exit frauds that occurred in Blockchain space in 2018. In fact, reports have indicated that fraud attempts have stolen more than $ 100 million in cryptocurrency in the past two years alone. Subsequent research indicates that the actual sum of stolen cryptocurrencies could be even higher.

Of course, there is always the possibility that the sudden disappearance of Pure Bit was just a stupid marketing stunt (though this seems unlikely at this point) November 9, 2018 – 15:17 UTC


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