GetGemz was it a 1.2 Million USD ICO scam? or is there some hope for gg owners?

Number 1

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Case against Peled the alleged Getgems scammer https://twitter.com/tocryptopia/status/989431321796657152

kame

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Merit: 250

Quote from: cryptohunter on June 16, 2017, 08:39:53 PM

Quote from: mtnsaa on June 02, 2017, 10:01:13 AM

They are behind KIK upcoming token as advisors, just in case you guys would want to know what they are up to.

https://kin.kik.com/

Our Lead Advisors:
CoinTree
Uriel Peled
Co-Founder and CEO

https://cointree.capital/

Daniel Peled (CRO)
Head of CoinTree's investment Committee. Co-Founder and CEO at PayKey, an Israeli Fintech startup with investors such as MasterCard and Santander InnoVentures. Veteran member of the Israeli Bitcoin community and the first person in Israel to ICO a blockchain company. Holds Masters in law and Bachelors in economics, Captain in the IDF EOD unit.

very interesting indeed.... scammers and crypto ..once they get a taste for it they find it hard to leave.

I just did few google and found paykey obtained some bank customers. what a surprise IBM is listing as a solution of Paykey.

Daniel is not mentioning GetGems in his profile. He knows this is pain in the neck in his carrier. We will not tolerate.

cryptohunter

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MY RED TRUST LEFT BY SCUMBAGS - READ MY SIG

Quote from: mtnsaa on June 02, 2017, 10:01:13 AM

They are behind KIK upcoming token as advisors, just in case you guys would want to know what they are up to.

https://kin.kik.com/

Our Lead Advisors:
CoinTree
Uriel Peled
Co-Founder and CEO

https://cointree.capital/

Daniel Peled (CRO)
Head of CoinTree's investment Committee. Co-Founder and CEO at PayKey, an Israeli Fintech startup with investors such as MasterCard and Santander InnoVentures. Veteran member of the Israeli Bitcoin community and the first person in Israel to ICO a blockchain company. Holds Masters in law and Bachelors in economics, Captain in the IDF EOD unit.

very interesting indeed.... scammers and crypto ..once they get a taste for it they find it hard to leave.

mtnsaa

legendary

Activity: 1568

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I held Gemz once a very long time ago and I even made some profit but I've always followed their threads after accusations and concerns started to arise. I honestly don't understand how it came to that situation and I'm not even sure if the project is active because there was no official statement as far as I know, I do know there is no active market.

Can any of you guys (early investors, holders, etc) know what's the current status of the project? The site and app are still online.

kame

sr. member

Activity: 324

Merit: 250

Quote from: mtnsaa on June 02, 2017, 10:01:13 AM

They are behind KIK upcoming token as advisors, just in case you guys would want to know what they are up to.

https://kin.kik.com/

Our Lead Advisors:
CoinTree
Uriel Peled
Co-Founder and CEO

https://cointree.capital/

Daniel Peled (CRO)
Head of CoinTree's investment Committee. Co-Founder and CEO at PayKey, an Israeli Fintech startup with investors such as MasterCard and Santander InnoVentures. Veteran member of the Israeli Bitcoin community and the first person in Israel to ICO a blockchain company. Holds Masters in law and Bachelors in economics, Captain in the IDF EOD unit.

Daniel addded his profile "Captain in the IDF EOD unit". In Islael IT society, everybody relating to army units. I know plenty of them. I may ask some of them to spank his bamp!!

Scammer is escaping to there well penciled.

mtnsaa

legendary

Activity: 1568

Merit: 1000

They are behind KIK upcoming token as advisors, just in case you guys would want to know what they are up to.

https://kin.kik.com/

Our Lead Advisors:
CoinTree
Uriel Peled
Co-Founder and CEO

https://cointree.capital/

Daniel Peled (CRO)
Head of CoinTree's investment Committee. Co-Founder and CEO at PayKey, an Israeli Fintech startup with investors such as MasterCard and Santander InnoVentures. Veteran member of the Israeli Bitcoin community and the first person in Israel to ICO a blockchain company. Holds Masters in law and Bachelors in economics, Captain in the IDF EOD unit.

kame

sr. member

Activity: 324

Merit: 250

Quote from: cryptohunter on May 18, 2017, 03:18:02 PM

seems one of the getgemz group is back with

coindash ICO ....

No way. if the one is Daniel, Getgems holders will not accept the ICO. And again some of the team members photos are with sun glasses on. Cool

another BTC collect and "dash" away ICO?

guess our
GetGems ICO money is used for this scam ICO as for their fuel, drives me nuts.

Well what is going on with Paykey now?

Daniel, in reading, please update.

realistic1

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Activity: 155

Merit: 100

Quote from: dissident on May 18, 2017, 03:45:46 PM

This is why I respect XEM... Huge free distribution and some additional distribution that didn't cost much. The team continued to work on it despite languishing prices for a long time and plenty of people had time to get in low so you can't really call it a premined scam.

It's as good as ripe but not centrally controlled with huge supply lockups.

Never been a huge fan of NEM, I got a stake and sold it like an idiot doh! I never liked the equality ideas that bordered on communism from the first developer that eventually got caught scamming and was kicked out.

BUT As long as a coin has a hard cap, and is decentralised and is not controlled by any one entity then I dont have a problem with it. Compared to ETH and Ripple it ticks my boxes.

dissident

sr. member

Activity: 280

Merit: 250

This is why I respect XEM... Huge free distribution and some additional distribution that didn't cost much. The team continued to work on it despite languishing prices for a long time and plenty of people had time to get in low so you can't really call it a premined scam.

It's as good as ripe but not centrally controlled with huge supply lockups.

realistic1

full member

Activity: 155

Merit: 100

Quote from: Number 1 on January 10, 2017, 08:33:40 PM

Quote from: ignitiondefect on January 10, 2017, 03:11:25 PM

Too bad GetGems didn't work out. The concept had elements that remain valid and interesting. I'm certain it wasn't intended as a scam. However, once it began to fail, there was a troubling lack of transparency and very possibly a major conflict of interest.

Intended as a scam or otherwise there is clear precedence for legal action. Throughout the initial development of Paykey Daniel Pelegrín issued statements saying that Paykey was developed by GetGems. Perhaps I am jumping the gun and GetGems adopters will be rewarded on launch of Paykey. Paykey is still under development after all.

The truth is these guys knew exactly what they were doing. They made every legal point work for them. That's why they made some huge worded disclaimer about what tokens are.....and the big thing they aren't is any claim on the company. Token are a very narrow product, they knew that.

The lesson to learn of if you ever hear of a token sale....run a mile, a token doesn't mean you own anything and can move on and make your token obsolete anytime they want. That's why this Israeli guy is doing another token sale on his trading platform sale. If successful you know he will charge people or get banks seed money etc. Token holders will be frozen out.

Also don't trust coins that seek seed capital, it looks great, free money right? But it always comes at the price of handing over something to them. Ripple is bullshit, go make money trading it, but it's not crypto, it's banks using crypto to do the same shit they always do, screw everyone.

If I was king I would hang them....but I'm not.

cryptohunter

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MY RED TRUST LEFT BY SCUMBAGS - READ MY SIG

seems one of the getgemz group is back with

coindash ICO ....

nowclever

member

Activity: 91

Merit: 10

Isreal devs are always scammers, getgems, 1.2M usd, AMP synereo, scammed 5M usd. Investors are noobs.

Number 1

newbie

Activity: 52

Merit: 0

Quote from: ignitiondefect on January 10, 2017, 03:11:25 PM

Too bad GetGems didn't work out. The concept had elements that remain valid and interesting. I'm certain it wasn't intended as a scam. However, once it began to fail, there was a troubling lack of transparency and very possibly a major conflict of interest.

Intended as a scam or otherwise there is clear precedence for legal action. Throughout the initial development of Paykey Daniel Pelegrín issued statements saying that Paykey was developed by GetGems. Perhaps I am jumping the gun and GetGems adopters will be rewarded on launch of Paykey. Paykey is still under development after all.

ignitiondefect

full member

Activity: 145

Merit: 100

Too bad GetGems didn't work out. The concept had elements that remain valid and interesting. I'm certain it wasn't intended as a scam. However, once it began to fail, there was a troubling lack of transparency and very possibly a major conflict of interest.

Number 1

newbie

Activity: 52

Merit: 0

Any update on this?

cryptohunter

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MY RED TRUST LEFT BY SCUMBAGS - READ MY SIG

Quote from: lawsonvl on November 14, 2016, 03:30:35 AM

Quote from: cryptohunter on November 13, 2016, 07:16:18 AM

Also i notice many of the main shills for this coin have gone quiet. I would hope they are not complicit and dumped out before the end came. Makes you wonder why they are not more bothered by this since apparently they had most of their crypto portfolio tied up in this scam.

The scam is like a giant filter, working its way through a bellcurve of intelligence.

Out of 1250 ICO buyers, the smart and rational got out early; the naive and deluded held until the end.

I suspect most of the diehard loyalists were real investors. (I've also chatted with many of them in the app.)

They defended the scam mostly by attacking its critics. That's all they could do, since the app was clearly terrible.

Most scam victims feel shame, not anger, and that's exactly what scammers count on to make their escape.

It doesn't surprise me then that perhaps only 1-2 loyalists have reversed their support publicly, and none after the coin delisting.

Adding to this, Daniel tasked David R Allen to spread misinformation in the wake of GG's demise.

That is, David's sole job was to manipulate the folks at the very bottom end of this bellcurve. Not a particularly challenging job...

Although that is more than likely very true. This thread and others like it should be kept alive so that we do not forget these scammers and hopefully at some point in the future all obvious scammers like Daniel will be brought to justice.

It would be a great shame for people to forget and move on fully allowing these people to get away with it entirely.

Any new information that comes to light as to what he is doing now with the ICO funds should be added here for others to read about.

I wonder if there is any advancement with paykey?

lawsonvl

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Activity: 156

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Quote from: cryptohunter on November 13, 2016, 07:16:18 AM

Also i notice many of the main shills for this coin have gone quiet. I would hope they are not complicit and dumped out before the end came. Makes you wonder why they are not more bothered by this since apparently they had most of their crypto portfolio tied up in this scam.

The scam is like a giant filter, working its way through a bellcurve of intelligence.

Out of 1250 ICO buyers, the smart and rational got out early; the naive and deluded held until the end.

I suspect most of the diehard loyalists were real investors. (I've also chatted with many of them in the app.)

They defended the scam mostly by attacking its critics. That's all they could do, since the app was clearly terrible.

Most scam victims feel shame, not anger, and that's exactly what scammers count on to make their escape.

It doesn't surprise me then that perhaps only 1-2 loyalists have reversed their support publicly, and none after the coin delisting.

Adding to this, Daniel tasked David R Allen to spread misinformation in the wake of GG's demise.

That is, David's sole job was to manipulate the folks at the very bottom end of this bellcurve. Not a particularly challenging job...

Shiroslullaby

sr. member

Activity: 434

Merit: 250

Quote from: cryptohunter on October 20, 2016, 02:31:48 PM

These guys were crazy to try to scam 1.2m when their real ids are known. They are basically tainted forever. I hope some who got stung bad will never let it drop.

I'll gladly send anyone my real ID info if they send me 1.2 million dollars.
That is definitely enough money to move somewhere and start a new life.
Feel free to send Bitcoins to:
1QBFfxcpBSvzvtTFwu2uRV71Y3ENSV5oG4

cryptohunter

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MY RED TRUST LEFT BY SCUMBAGS - READ MY SIG

Quote from: lawsonvl on November 12, 2016, 10:30:09 PM

Quote from: cryptohunter on November 12, 2016, 04:25:42 AM

Quote from: lawsonvl on November 11, 2016, 10:36:19 PM

https://www.paykey.com/#/team

Daniel doubled the size of his company.

Looking thru social media, it looks like he went on a hiring spree this summer.

But kept it a secret until election day.

Coincidental timing, I'm sure...

interesting ...perhaps he will be reopening the getgemz thread and bringing this new team back to work on this project?

If not why not? where did he get the funds to hire this new team? getgemz ico funds?

PayKey CTO Markovich Offer explained the situation in chat last month:

Getgems' $800k was a reward for "completing" the milestones.

The money was not actually intended for GG's development/operating costs; it was simply a payment for work completed.

The ongoing costs of GG were to be met by revenue from the Attention Economy.

Since the reinterpretation of the AE (ad channel) has proven to be a complete failure, the project cannot pay for itself.

Thus, the project is on life-support.

....

We can summarize the scam quite easily now:

1. Present the funds as a reward.

2. After funding, redefine the conditions to make the reward vastly easier to collect.

3. Keep most of the reward as income, rather then spend it on the project.

4. Move company resources to a different project where the reward is ultimately spent.

Even if they squeeze out it legally (which hopefully they wont if paykey takes off and becomes large enough to entice some legal firm to take a shot at them using gg funds for their new project) it is possible here to hound them and give them enough bad press that you can cause some damage to their new project. Either way they should not be allowed to provide such a blatant rip off/modification of already existing software for 1.2 M dollars.

Also i notice many of the main shills for this coin have gone quiet. I would hope they are not complicit and dumped out before the end came. Makes you wonder why they are not more bothered by this since apparently they had most of their crypto portfolio tied up in this scam.

lawsonvl

full member

Activity: 156

Merit: 100

Quote from: cryptohunter on November 12, 2016, 04:25:42 AM

Quote from: lawsonvl on November 11, 2016, 10:36:19 PM

https://www.paykey.com/#/team

Daniel doubled the size of his company.

Looking thru social media, it looks like he went on a hiring spree this summer.

But kept it a secret until election day.

Coincidental timing, I'm sure...

interesting ...perhaps he will be reopening the getgemz thread and bringing this new team back to work on this project?

If not why not? where did he get the funds to hire this new team? getgemz ico funds?

PayKey CTO Markovich Offer explained the situation in chat last month:

Getgems' $800k was a reward for "completing" the milestones.

The money was not actually intended for GG's development/operating costs; it was simply a payment for work completed.

The ongoing costs of GG were to be met by revenue from the Attention Economy.

Since the reinterpretation of the AE (ad channel) has proven to be a complete failure, the project cannot pay for itself.

Thus, the project is on life-support.

....

We can summarize the scam quite easily now:

1. Present the funds as a reward.

2. After funding, redefine the conditions to make the reward vastly easier to collect.

3. Keep most of the reward as income, rather then spend it on the project.

4. Move company resources to a different project where the reward is ultimately spent.

Topic: GetGemz was it a 1.2 Million USD ICO scam? or is there some hope for gg owners? (Read 4738 times)