Proactive analysis projects #1
Proactive analysis projects #1
Date of audit procedures: 23.12.18

We hope to make sure that investors don't take any unnecessary risks. These investors look for projects that are currently underway, or the ones that have just finished fundraising.

The purpose of the analysis:

We are trying to report the risks we found in the project. We want to provide this information to investors. Those investors take measures to reduce these risks if they are too high for their investment strategy.

We take note of gullible unqualified investors, who have recently invested in some developing projects. We are eager to help them return their money. (bubnov@forensictokenlab.com)
We take these problems into account because we follow the ICO market, and we perform our own analysis:

These analyses (comparison of the plan with the fact of activity) clearly show that frequently ICO projects do not fulfill their financial and other obligations to investors.

We understand that our fast scoring may not be the best, but it is surely the best of free scoring options, given the limited data. However, it can help to reveal some of the risks in a particular project.

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# Project name/link Link to investigated sources Implementation of the declared step Auditor's opinion

1

Brickchain

• https://brickchaininvestments.io
https://brickchaininvestments.io/wp-content/uploads/2018/05/

Brickchain-Whitepaper-v1.6.pdf
• https://icobench.com/ico/brickchain

The following risks were identified during the analysis:

✘ There is no detailed description of the activities of the project team within a specific jurisdiction (risk!)
✘ The whitepaper has too abstract formulations (risk!)
✘ No obligation is given to periodically disclose material information on the progress of the project (risk!)
✘ The project prototype is missing (risk!)
✘ No financial model (risk!)

Very high risk

2

BitSong

• https://icobench.com/ico/bitsong
• https://bitsong.io/docs/whitepaper_en.pdf

The following risks were identified during the analysis:

✘ The investment threshold is too low (0,01 ETH), which could jeopardize adhering to AML / CFT procedures (risk!)
✘ There is no detailed description of the activities of the project team within a specific jurisdiction (risk!)
✘ The whitepaper has too abstract formulations (risk!)
✘ The project prototype is missing (risk!)
✘ No financial model (risk!)

Very high risk

3

Cryptoworkplace

• https://cryptoworkplace.io/
https://cryptoworkplace.io

/file/CWP_White_Paper_en.pdf

The following risks were identified during the analysis:

✘ The investment threshold is too low (100$), which could jeopardize adhering to AML / CFT procedures (risk!)
✘ The project prototype is missing (risk!), device model only (risk!)
✘ No financial model, as long as the Finmodel shown on page 28 whitepaper does not have decryptions of items of income and expenditure (risk!)

High risk

To summarize, these three projects have a significant amount of risk.

report date: 23.12.2018

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

 

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