Storiqa (STQ) BAIT AND SWITCH scam! Possible PHISHING scam No support! - page 2.

cjmoles

legendary

Activity: 1176

Merit: 1017

And, what about this?

Raised: $21,637,287
Tokens sold: 4,792,895,197

($21,637,287)/(4,792,895,197 token) = $0.00451445026/token average

And,

Raised: $24,403,867
Tokens sold: 6,123,618,287

($2,766,580)/(1,330,723,090 tokens) = $0.00207900503/token average

How does the average price decrease when it's supposed to increase? Price dropped from $0.00451445026 per token to $0.00207900503 per token? Really? The price dropped?

Proofs:

Between the top image and the bottom image they raised: ($24,403,867) - ($21,637,287) = $2,766,580
Between the top image and the bottom image they sold (6,123,618,287) - (4,792,895,197) = 1,330,723,090 tokens.

So, how do they explain selling 1,330,723,090 tokens for ($2,766,580)/(1,330,723,090 tokens) = $0.00207900503/token?

Even with the discounts bonuses and referral commissions, the math doesn't even come close! This demonstrates a 400%-500% token inflation....WTH?

THEY NEED TO EXPLAIN THAT ONE TOO! How come so many more tokens were given away at the end then were supposed to be?

amerrigan

jr. member

Activity: 71

Merit: 1

If anyone has any hard evidence of anything underhanded could you post your findings to the /r/shamcoin reddit page too; the are using AI to build up list of possible scam/shams and use the mechanism to automatically point out similarities of future suspect ICO's

https://www.reddit.com/r/shamcoin/comments/7uyvyy/sham_analysis_storiqastq/

cjmoles

legendary

Activity: 1176

Merit: 1017

Quote from: plastick on February 03, 2018, 12:52:50 PM

They don't need KYC! That's the problem with their logic....this is an identity phishing scam! The exchanges require the KYC because the exchanges are the entities which interact with the regulated financial markets....not the decentralized blockchains running nodes on proxies! KYC is required at the moment we engage the financial markets, not before....If it were required before we engaged the markets, then every time we transmitted a transaction onto the blockchain, we would have to request KYC and that would slow transactions down to a crawl. IT'S A SCAM!

Say I gave them my identity, they gave me the token, and I immediately sent them to somebody else....how does KYC even come into play there? It's a farce! ----> KYC is not required and they want our identities for some other reason!

plastick

member

Activity: 203

Merit: 30

cjmoles

legendary

Activity: 1176

Merit: 1017

Quote from: plastick on February 02, 2018, 05:45:29 PM

If anybody thinks it is safe to give your information to random online people asking for it, think again..........

https://themerkle.com/new-paypal-phishing-site-demands-users-submit-a-selfie-while-holding-an-id-card/

https://www.hackread.com/android-malware-selfies-steals-credit-card/

https://www.helpnetsecurity.com/2018/01/16/netflix-phishing-id/

The dumbphucks in the Storiqa SubReddit threads needs to see these articles....I was restricted from posting in the Storiqa Subreddit....but these phishing scams look exactly like what these guys are planning....I can see these guys opening several exchange accounts with our ID's in order to launder the very money we gave them for the ICO into clean accounts....These guys need to be stopped.

plastick

member

Activity: 203

Merit: 30

If anybody thinks it is safe to give your information to random online people asking for it, think again..........

https://themerkle.com/new-paypal-phishing-site-demands-users-submit-a-selfie-while-holding-an-id-card/

https://www.hackread.com/android-malware-selfies-steals-credit-card/

https://www.helpnetsecurity.com/2018/01/16/netflix-phishing-id/

cjmoles

legendary

Activity: 1176

Merit: 1017

This is the only person I've seen on Youtube with a cogent voice on this topic: https://youtu.be/L4jsM6dKxN8 The rest of them are all shills! And, yup, I was prevented from posting on the Storiqa SubReddit too.

plastick

member

Activity: 203

Merit: 30

Quote from: akamit on February 01, 2018, 05:18:37 PM

In my opinion what storiqa doing is like pure blackmailing. At the beginning, they didn't say anything about KYC and after ICO they are forcing KYC.
I would not have invested (maybe) if I've seen KYC requirement at the beginning. Now I feel like I had taken a stupid decision to invest in storiqa.

It's embarrassing when a successful ICO plays with their investors at the end of ICO. Let's see what happens and where it ends.

I am hoping they can do some PR to fix this mess. All we want is answers. They could just fess up and admit they made a mistake but all they have said so far is no refunds, banned people who ask questions, try to fight with everyone and basically act like that redhead kid in school who used to steal everyone's lunch money.

I invested in this company to open a online store but it's looking like they are going to worse to deal with than ebay and amazon combined.

akamit

hero member

Activity: 1498

Merit: 596

In my opinion what storiqa doing is like pure blackmailing. At the beginning, they didn't say anything about KYC and after ICO they are forcing KYC.
I would not have invested (maybe) if I've seen KYC requirement at the beginning. Now I feel like I had taken a stupid decision to invest in storiqa.

It's embarrassing when a successful ICO plays with their investors at the end of ICO. Let's see what happens and where it ends.

plastick

member

Activity: 203

Merit: 30

Storiqa has restricted their reddit page to approved users only. Afraid people might learn the truth? Afraid to provide assistance to worried customers?

plastick

member

Activity: 203

Merit: 30

Changed the title of this thread from "possible scam" to "BAIT AND SWITCH SCAM" because that is exactly what they did.

plastick

member

Activity: 203

Merit: 30

/r/Storiqa was flooded with threads of people trying to sell their accounts.

All got deleted.

plastick

member

Activity: 203

Merit: 30

Quote from: tmschard on January 31, 2018, 08:08:12 PM

Another point is: If the company is a fraud, why the hell would KYC require it? If I were a fraud, by now I'd be on some island with all the money.

Huh? I don't think you understand what KYC is.

cjmoles

legendary

Activity: 1176

Merit: 1017

Quote from: tmschard on January 31, 2018, 08:08:12 PM

Quote from: cjmoles on January 31, 2018, 02:53:46 PM

Quote from: tmschard on January 31, 2018, 06:44:35 AM

I think I did not understand ... Is the company by demanding KYC a SCAM?! Funny

If I sold you my car, then after you handed me the money, I told you that I also needed proof that you've never broken a law and if you didn't provide the proof I would keep your money and the car ----> would that be scammy?

Giving unregulated entities, from countries that are demonstrably known for identity theft, your sensitive personal information is fucking stupid ---> period. No matter what fucking planet you came from! Would you also suggest giving the Nigerian princes you find in your email spam folder your sensitive personal information?

This comparison makes no sense.

My point of view is: A serious company, which intends to act as a large company, must necessarily at some point demonstrate the origin of the resources for legal purposes in their country .... We are talking about COMPANY and this in no way can be 100% anonymous.

When we invest in an ICO, we are becoming more than shareholders because we are founding the company's capital.

Another point is: If the company is a fraud, why the hell would KYC require it? If I were a fraud, by now I'd be on some island with all the money.

Next time, if you do not want to present your confidential documents, buy the tokens on the market and forget the ICO.

If they were a serious company, then they would provide refunds to those they "unintentionally" deceived, right? They wouldn't be saying, "Give us all of your your sensitive personal information or we'll keep your money." Only a complete dumb phuck would accept that as a legitimate proposition. Losing control over your identity is serious....you lose everything you have AND everything you may have in the future under your name. Are you mature enough to understand those consequences?

"Another point is: If the company is a fraud, why the hell would KYC require it? If I were a fraud, by now I'd be on some island with all the money." <----Good question ---> KYC is NOT required, they are lying to you! And, they are probably already on an island with all the money....LOL

tmschard

newbie

Activity: 26

Merit: 0

Quote from: cjmoles on January 31, 2018, 02:53:46 PM

Quote from: tmschard on January 31, 2018, 06:44:35 AM

I think I did not understand ... Is the company by demanding KYC a SCAM?! Funny

If I sold you my car, then after you handed me the money, I told you that I also needed proof that you've never broken a law and if you didn't provide the proof I would keep your money and the car ----> would that be scammy?

Giving unregulated entities, from countries that are demonstrably known for identity theft, your sensitive personal information is fucking stupid ---> period. No matter what fucking planet you came from! Would you also suggest giving the Nigerian princes you find in your email spam folder your sensitive personal information?

This comparison makes no sense.

My point of view is: A serious company, which intends to act as a large company, must necessarily at some point demonstrate the origin of the resources for legal purposes in their country .... We are talking about COMPANY and this in no way can be 100% anonymous.

When we invest in an ICO, we are becoming more than shareholders because we are founding the company's capital.

Another point is: If the company is a fraud, why the hell would KYC require it? If I were a fraud, by now I'd be on some island with all the money.

Next time, if you do not want to present your confidential documents, buy the tokens on the market and forget the ICO.

cjmoles

legendary

Activity: 1176

Merit: 1017

Quote from: tmschard on January 31, 2018, 06:44:35 AM

I think I did not understand ... Is the company by demanding KYC a SCAM?! Funny

If I sold you my car, then after you handed me the money, I told you that I also needed proof that you've never broken a law and if you didn't provide the proof I would keep your money and the car ----> would that be scammy?

Giving unregulated entities, from countries that are demonstrably known for identity theft, your sensitive personal information is fucking stupid ---> period. No matter what fucking planet you came from! Would you also suggest giving the Nigerian princes you find in your email spam folder your sensitive personal information?

cjmoles

legendary

Activity: 1176

Merit: 1017

Quote from: plastick on January 31, 2018, 02:07:15 PM

"7.3. Company reserves the right to refuse or cancel the Token purchase requests at any time
at Company's sole discretion, including cases when the information provided by Buyer upon any
requests is not sufficient, inaccurate or misleading, Buyer is deemed to be a Restricted Person, or
Buyer has not complied with any of the requirements of the Web Application.
7.4. In the case specified in Article 7.3 hereof, Company may, at its sole discretion, either:
7.4.1. retain all the funds paid by the respective payer; or
7.4.2. refund to the payer of the funds in accordance with the Clause 11 hereof."

So they think they can keep your money and not give you any tokens, for no reason at all. This sort of thing seems to appear a lot in ICO exit scams.

Yes....they specifically told me they were keeping my money if I didn't provide them with their requests. Either they are a scam or they are incompetent ---> either way, we're screwed. There is no reason for them to be requesting our sensitive personal information if we did not send them one of the regulated currencies....Further, if KYC were required every time we made a transaction on the blockchain, then each transaction would take days, not minutes.

plastick

member

Activity: 203

Merit: 30

"7.3. Company reserves the right to refuse or cancel the Token purchase requests at any time
at Company's sole discretion, including cases when the information provided by Buyer upon any
requests is not sufficient, inaccurate or misleading, Buyer is deemed to be a Restricted Person, or
Buyer has not complied with any of the requirements of the Web Application.
7.4. In the case specified in Article 7.3 hereof, Company may, at its sole discretion, either:
7.4.1. retain all the funds paid by the respective payer; or
7.4.2. refund to the payer of the funds in accordance with the Clause 11 hereof."

So they think they can keep your money and not give you any tokens, for no reason at all. This sort of thing seems to appear a lot in ICO exit scams.

amerrigan

jr. member

Activity: 71

Merit: 1

Cross posted to Reddit group https://www.reddit.com/r/shamcoin/ (hope you don't mind).

plastick

member

Activity: 203

Merit: 30

Quote from: tmschard on January 31, 2018, 06:44:35 AM

I think I did not understand ... Is the company by demanding KYC a SCAM?! Funny

That is why this thread says "possible" scam.

And they are demanding KYC POST-ICO, which is obviously SCAMMY. Even if they don't intend to run off with all the money it is still a scam to deceive people into investing thinking there was no KYC.

Topic: Storiqa (STQ) BAIT AND SWITCH scam! Possible PHISHING scam No support! - page 2. (Read 1223 times)