AVOID
SWIFTEX EXCHANGE
SCAM ICO
SWIFTEX EXCHANGE
SCAM ICO
BITCOINTALK FORUM:
This is the link to the Swiftex Exchange ICO thread: https://bitcointalksearch.org/topic/ann-ico-swft-swiftex-exchange-token-5189857
This is the link to the Scam Accusation: https://bitcointalksearch.org/topic/swft-swiftex-exchange-token-plagiarized-whitepaper-website-content-5190158
PLAGIARISED WHITEPAPER:
They have copied huge elements from the Streamex whitepaper as excellently pointed out by witcher_sense here in the Scam Accusation thread:
https://bitcointalksearch.org/topic/swft-swiftex-exchange-token-plagiarized-whitepaper-website-content-5190158:
SWIFTEX EXCHANGE WEBSITE:
The exchange is built using RubyKube (excellent entry level open source software). It has less functionality than the full Openware software for sale but still should easily handle around up to 3000 TPS, nowhere near top level exchange requirements.
The bottom line is this - if you go to the RubyKube website and Github you have all you need to make an exchange almost like out-of-the-box solution. It is not hard work to put sudo commands in your terminal or putty because RubyKube have taken all the hard work out of it.
SWIFTEX EXCHANGE SOCIAL MEDIA
Medium - https://medium.com/swiftex
Last updated July 2019
Reddit- https://www.reddit.com/r/Swiftexchange/
Last updated for over 1 year ago
Twitter - https://twitter.com/swiftexco
4000 followers
Telegram - https://t.me/swiftexco
Their Telegram shows 3661 users but the whole thing is dead. No moderation and no signs of conversation
SUMMARY:
All the software used to make the Swiftex Exchange is available free online so the only costs associated would be server/host and developer to install it. There is no mention on their website or whitepaper about the source or anything else. There is no mention of which country any legal issues will be resolved in, there is no mention of the company or individuals that are owners/shareholders of any LLC/LTD.
There is no announcement about the traffic or trade volumes because they are at lower than trash levels and it seems to have been done deliberately. Their social media is virtually dead too. Quite pathetic really that they thought they could raise a quick buck using open source software by fooling newbies and gullible investors.
Their ICO has so far raised 0.45 ETH but they have a hard cap of $1.2 million and a softcap of $200,000: https://ico.swiftex.co/
The exchange seems to have been created for the purpose or having an ICO and thus getting rich through the back door with tokens. If the real owners believed in this trash they would have run it and operated it themselves and reaped the benefits of any profits but this is a trash exchange that has no hope either in legal terms or commerce terms.
Even if they reach their softcap of $200,000 that is a large amount for somebody who used freely available open source software which is a ready to use out-of-the-box solution covering everything from pairs to KYC and much more. For them to receive $200,000 from the ICO would mean them hitting the jackpot as they would not need to elaborate exactly where the money was spent and could be seen as a sizeable pay day for those of us highly skeptical.
Keep up the good work.
