Experimental verification of ICO projects #1
Experimental verification of ICO projects #1
Date of audit procedures: 14.12.18

Summing up the work of the projects that collected money from investors in the course of ICO campaigns.

We have carried out a plan-fact analysis of plan implementation for some ICO projects or projects, that had issued their tokens. We selected the projects that were in higher demand from the visitors of ForensicTokenLab.com site based on the Google search engine.

​​​​​​

# Project name/link Key data product release (milestone) and maintenance Link to proof @ project whitepaper Implementation of the declared step Accomplishment of the product creation plan
(auditor's opinion)

1

Anacoin

Q3 2018
Continue sponsorship auction, Beta release oLQuran app
Q4 2018
Living Quran framework application to be set to other major scripture of the world

page: 31

Information about app not identified in the following sources
•  App store
•  Google play
•  www.ananas.org.uk
•  https://twitter.com/ANA_Anacoin
•  https://www.facebook.com/ANA.anacoin
•  https://github.com/Anacoin (totally empty)
•  https://www.reddit.com/r/anacoin
•  https://medium.com/ananas-blog
•  https://bitcointalk.org/index.php?topic=2050079.0;all

Deviation

We recommend starting an investigation.

2

APX ventures

not identified
Q3 and Q4 2018 not found at whitepaper

First post

Last activity is 1Q 2018. There is no report on the results of the fund’s work at Q2-Q4 2018, neither the total value of the fixed assets on the balance of the project
this information had not been located in the following sources:
•  https://apxv.org/
•  https://twitter.com/APX_Ventures
•  https://t.me/apxventures
•  https://bitcointalk.org/index.php?topic=1879453.180

There is no data in the analyzed sources on the availability of assets on the balance of the project

We recommend starting an investigation.

3

BelDex

June 2018
Post ICO, public Beta launch and Branded Wallet launch.

Sep 2018
Mainstream Coin Trading begins on all major exchanges.

Page: 23

Searching information about public beta testing. Аpplication was detected https://play.google.com/store/apps/details?id=com.beldexwallet.app

Beldex token are traded in following exchanges:
• BiteBTC
• Stocks Exchange
• STEX
• Escodex

according to auditors, these exchanges are not Major exchanges.

There is evidence of non-compliance with the project schedule. Perhaps a restructuring of the project is required.


We recommend starting negotiations with the project team and insist on an investigation.

4

BitCache 

-

-

Domain name "Bitcache.com" offered for sale.


According to the available information, the project could collect ~ 1 000 000 USD during ICO.

We recommend starting an investigation.

5

EtherFlyer

Sep 2018
Mobile App for IOS released

Dec 2018
- Over 70 mainstream cryptocurrency pairs listed
- Daily exchange volume expected US$30 million+

Page: 11

Searching information about IOS app. Аpplication was detected
https://static.etherflyer.com/index.html
But, this application is not available at App Store.

As of 12/14/2018 24h Volume (ETH) amount 14,2k ETH (1,23 mln. $)

There is evidence of non-compliance with the project schedule. Perhaps a restructuring of the project is required.

We recommend starting negotiations with the project team and insist on an investigation.

6

Future Coin Light

8 of October, 2018
Advertising Network, where FutureCoin is an only payment method, launched

17 of December 2018
Closing the year with a global report

Page: 11

The Domain name "futurecoinlight.com" is  not responding. No social networks were found.

We recommend starting an investigation.

Summarizing the analysis:

  • for 4 projects we recommend starting the investigation procedure,
  • for 2 other, we recommend investors to pay attention to the deviation from the project plan and begin interacting with the team to get the reasons for the deviation. 

report date: 13.12.2018 - 14.12.2018

Offer for ICO’s investors:

If you suspect fraud, it is better to bring it to the attention of the law enforcement authorities. With ICO frauds, every day counts because fraudsters can sweep up the evidence.

Feel free to contact us:

We will help you to find the data about fraud (rate $ 30 per hour). In the future, you can submit this report and the case to any competent lawyer. An example of a research report is available via email request bubnov@forensictokenlab.com

Consult us free of charge about collecting debts from an ICO project bubnov@forensictokenlab.com or via telegram @ICO_Forensic_NOW
We also collect facts about the withdrawal of crypto active assets from the project. If you have any information available about a cryptocurrency, please, send it to us for analysis.

 

Information about an ICO project and other persons mentioned in the above reports can be deleted:

  • By court decision;
  • According to an audit report from the project about the intended use of funds.

Disclaimer:

The entire analysis serves educational purposes only and should not be used to commit investment decisions. The listed conclusions are given as opinions of the founders and beneficiaries www.ForensicTokenLab.com

Read the disclaimer section of the site www.ForensicTokenLab.com

 

Proactive analysis projects #1
Proactive analysis projects #1
Date of audit procedures: 23.12.18
Experimental verification of ICO projects #3
Experimental verification of ICO projects #3
Date of audit procedures: 18.12.18
Experimental verification of ICO projects #2
Experimental verification of ICO projects #2
Date of audit procedures: 16.12.18