As the "Blockchain Auditor", it is important to me if people care about the traditional auditor (chartered accountant/certified public accountants), financial statements and disclosures, materiality, fraud, and all those underpinnings of the profession. What happens when people don't care about any of those things, and invest their money and reputation in whatever will make them money in the short run? When people think pump-and-dump is a good thing?
It may feel like "kicking a dead horse" at this point, but if you've followed this series. I have been following an airdrop of a token called RELX from an organization that calls itself Reed Elsevier. This caught my attention because "the real" Reed Elsevier (now known as The RELX Group) is well known for research tools, publications and events. However, this airdrop has nothing to do with the global organization other than incidentally or purposefully usurping the name of a major international organization.
To me, it seemed like shutting this down should be easy. If people know that the organization wasn't on the up-and-up, they would stay away. I was wrong.
To me, it seemed that if you let people know that there was no "there" there, that the Web site was gibberish and non-sensical, that there wasn't even a fake team or whitepaper available, a la the US Securities and Exchange Commission's educational site about crypto frauds, HoweyCoins, that people would go away. I was wrong.
So here is where we are at:
- The website no longer discusses the token offering at all; it is now an ecommerce site
- The Telegram channel is locked for comments, although the promoter is still talking about how the second distribution of the bounty will be paid in a few days
- The Facebook page is suspended
- The Twitter page is suspended
- The Youtube channel has only three videos and hasn't been updated
- CoinGecko dropped the listing
More than 36,000 members on the Telegram channel are being told the next distribution takes place in 3 days, and the organization needs a Dapp Developer and an Exchange website Developer.
The number of people that have questioned the integrity of the operation have been few.
The number of people who just want to know when they will receive the bounty, when they can sell, and for how much is astounding.
My links:
Cointiply: http://cointiply.com/r/Qzawg
Global Hive: https://globalhive.io/r/116567
Pipeflare: https://pipeflare.io/r/6gfq
Read.Cash: https://read.cash/r/CryptoEric
