Hi Everyone..
I am Jamal Aezaz.. I was hired as tokenpay's Bounty program manager.. I have worked with token pay for over 6 months as of now. but it has been the worst experience for me to working with them.. because Derek and His Team is one of those so many scammers who raised Millions of Dollars in ICOs. but when time of paying the supporters and Contributors come, they start making baseless excuses and try to save every single penny they can.
I just found this topic. The project claims false bold statements "the world’s most secure coin and payment platform". That is totally false and a BIG LIE as its blockchain explorer shows that most transactions are not using Ring Transactions or zk-snarks. That is a big lie. More, I did a deeper research on WEG Bank AG in this topic and I found out that WEG Bank AG is a scam bank with no customers, products, branches, income and services looking only for make noise in the space with fake news to deceive newcomers to invest into tokenpay and nimiq.WEG Bank is SCAMHere are some of the proofs that show that WEG Bank is a scam
I have been doing some research on the so-called "WEG Bank". Proven facts:
1. NO CUSTOMERS. They don't have any customers who is using the "WEG Bank AG" registered in Germany.
2. NO BRANCHES. There are no branches in Germany or worldwide.
3. NO PRODUCTS. They don't have any product to facilitate customers to interact with the bank. No Web Products, no software products, no mobile apps. Nothing.
4. NO REAL PARTNERS. They don't have any provable partner in place that is actually doing something except press releases.
5. NO BANK PARTNERSHIP They don't have any partnership with any other REAL bank world-wide. As you may know, it is mandatory for a bank to have partnerships with other banks to operate national and worldwide money transfers.
6. SHARES WORTHLESS. Their shares on this "bank" are so worthless, that they gave 10% of the bank shares to Litecoin Foundation (a non-profit organization). WTF. How could a bank donate 10% of its shares to a non-profit organization? Even so, it is so illegal that they donated 10% of their shares to a non-profit organization, in case they had any customer. But in reality, they don't have any customer.
7. LESS THAN 5 PEOPLE EMPLOYED. Most probably they have only 1 person hired (namely their CEO ). The website most probably was built by a paid freelance.
8. WEBSITE IS A CMS THEME. The website is a fucking CMS website. They use Contao Open Source CMS. WTF
9. RECENTLY CREATED - JUNE 2015. The company was recently created in June 2015.
10. NET INCOME: 0 EURO IN 2017. According to banking public information: the net income is 0 (ZERO) euro in 2017
WEG Bank AG is a scam. They are just a small company trying to deceive people into believing that they are a huge bank facilitating millions of new people crypto adoption into the banking system. Most probably they receive generous funds from crypto projects to create fake partnerships on press releases. For instance: tokenpay which definitely paid generous bonuses to make a press release that they have partnered up.
Worthless partnership fact:
About 9 months ago, the partnership with TokenPay was made. Nine months had passed and there is no product, no service made that came up of this worthless partnership. All these facts makes me believe that WEG Bank is a scam and a fraud company to deceive crypto investors.
Feel free to discuss other reports on the WEG Bank AG scam.
Full Topic
https://bitcointalksearch.org/topic/weg-bank-is-scam-5116099
