What happened: EtherArc Token have at least one fake team member, also parts of their website/whitepaper are copy-pasted.
Reference Link: h
ttps://www.etherarctoken.com
Announced by: EtherArc TokenANN: [ANN]EtherArc Token - An utility token that will be used for business purposes.Flag 1: https://bitcointalk.org/index.php?action=trust;flag=1108- EtherArc Token have content on their website plagiarized from a minimum three different projects.
- They have at least one fake team member.
- Their website is less than a week old.
- Comparing both Payeercoin (scam) and EtherArc Token website i'm almost 100% sure it is run by the same people.
Etherarctoken(ETT) is the world's first utility token, serving needs and providing solutions to make payments or make any money transactions whenever and wherever you travel, utilize the latest technology that promotes efficiency and accountability. Etherarctoken will be built on the Ethereum Blockchain platform using its smart contract technology.
ETT is equal to dollars or coins like physical currency. However, what makes it unique is that it allows for instant transactions and border transfers of ownership. Since all payments are processed through secure servers, users do not need to worry about anything at risk, this is the most user-friendly system that allows you to have confidence and control over it. The ETT is accessible and available wherever and whenever you need it, no limits, no borders, which means you can transfer the ETT directly to your friends and family at no charge.
The Economist scholars think that when a person gives out, the funds are used to create either a debt or an asset. There is no justifiable reason for a debt or an asset in the first case why lenders should get a return? Moreover, there is no justification from the point of view of the economy running smoothly, or from any tenable scheme of social justice. Regardless of the state, unconditional commitment should be tried the use borrowed money. If this money is used to create additional capital assets, the question is why the lender should be entitled to only a small fraction (represented by the interest rate) the exchange value of utilities made with non-loan money. The trial claimed that should be remunerated to the extent his financial capital is involved in creating increasing wealth.
Muslim scholars think that when a person gives out, the funds are used to create either a debt or an asset. There is no justifiable reason for a debt or an asset in the first case why lenders should get a return? Moreover, there is no justification from the point of view of the economy running smoothly, or from any tenable scheme of social justice. Regardless of the state, unconditional commitment should be tried the use borrowed money. If this money is used to create additional capital assets, the question is why the lender should be entitled to only a small fraction (represented by the interest rate) the exchange value of utilities made with non-loan money. The trial claimed that should be remunerated to the extent his financial capital is involved in creating increasing wealth.
https://icobench.com/ico/payeercoin
Archive of the website: https://web.archive.org/web/20191224171050/https://www.etherarctoken.com/Archive of the ANN: http://archive.md/wip/35wKoArchive of the whitepaper: https://web.archive.org/web/20191224171138/https://www.etherarctoken.com/whitepaper/whitepaper.pdf
