- The SMART TRADE COIN ICO is flooding the crypto web with aggressive ad campaigns.
- CCN and
Trustnotes, Bitcoin Insider published sponsored marketing material about this MLM-Crypto Token Sale scam without research.
- The white paper for the Trade Coin includes a lot of misleading information about the founders.
Relaxed Ethical Standards
Evidently, some of the online news sites have started to take a very relaxed position regarding scam ads and investors protection. Fortunately, they are at least earmarking ad content which is an improvement compared with former times. Crypto-related ad revenues crashed along with the ICO hype and crypto prices. Hence, it seems they lowered their ethical standards regarding scam ads and the promotion of shady Token Sales. Like CNN did when they published advertising articles on the Smart Trade Coin today and yesterday and the day before!
Many crypto news sites publish sponsored articles on token sales as if it was editorial content based on the sites’ research. Still, token project owners advertise these articles on their Telegram channels to the potential investors and solicit funds for their as if the crypto news websites have done research.
Trade Coin ICO
The Telegram channel of the Smart Trade Coin ICO has got more than 46,000 members and is packed with the “bought” articles praising the project. In our opinion even if the crypto news website outline that the people should do their own research, they should do also some research on advertising material they accept before publishing as assistance to fraudulent activities also qualifies for criminal proceedings in developed countries. By doing a quick due diligence on the Smart Trade Coin project, blogger and news people probably would recognize that there is some wrong, misleading and missing information in the white paper.
Wrong and Misleading Information
The Smart Trade Coin is done by notorious MLM artists. Actually, they are providing false information in their white paper about their
The white paper shows the following team members:
Dennis Nowak´s CV does not reveal his true background and fails to mention that he has been mainly involved in the MLM-Business since 1994. Since 2014, Nowak has been involved in the marketing of the Hungarian miracle cure spray Lavylite. The spray is intended to rejuvenate cells, heal bone fractures, remove athlete’s foot or rebuild worn joint cartilage (arthrosis). In a video published in November 2017, Dennis Nowack laid out the details on his MLM-success: How to become a millionaire. Obviously, Dennis Nowack is a
Waldemar Reimer is also notorious MLM leader. He has been heavily involved in the Kairos Technology MLM-Scheme, as one can learn on his YouTube channel. Turkish regulators declared Kairos Technologies a pyramid scheme in early 2017. Austria and Hungary issued warnings against this Ponzi-scheme.
Joerg Gehrmann also is another MLM veteran was a partner of Dennis Nowack in marketing the MLM-system Lavylite, the pixie dust spray.
Daan van Koelen has been involved in the WGC MLM Scheme (ttp://wgc-Network.info“), which sold arbitrage software to people since the beginning of 2017. Further team members of the WGC-MLM scheme – warnings against these schemes are all over the web, see here for example – used to be Dennis Nowak and Joerg Gehrmann.
The arbitrage software sold by the WGC-Network
Although considerable amounts have been raised by exploiting the Infinity Economics MLM-structure (compare our report here) the presold arbitrage software was not delivered and never worked as promised.
The connections between the WCG MLM-scheme and the SFT Token Sale also got evident as a special WGC bonus promotion was set up for the WGC partners during the pre-sale phase of the Smart Trade Coin: an exclusive bonus for WGC partners of 150% (with participation from a minimum investment of 500$)
as well as the share in the WGC additional pool of a total of 99 million tokens (with participation from a minimum investment of 300$) was offered. By the way, neither this special offer nor the additional pool of 99 million tokens neither any connection to the WGC network is mentioned in the White paper of the STC Tokens sale.
Nothing about this special bonus and the additional pool of a total of 99 Mio tokens is mentioned in the White paper in the STC ICO. The project is just another ICO scam performed by MLLM artists with the only goal to enrich themselves.
Responsibility For False Whitepaper Information
Evidently, the founders are not aware