Topic: Waqar Zaka Crypto King of Pakistan Tenup.io Possible Scam - page 2. (Read 667 times)

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Greetings, This post really got my attention as I have been doing my research on scam ICOs and trying to maintain a list that can be helpful for all users and people new to avoid getting scammed. It's first time I am seeing an ICO from Pakistan. I always considered Pakistan as a conflicted territory considering the bans implemented in the state.
Upon reading the whole post I personally found it very negatively biased for it being the first ICO of the nation. Therefore It captured my interest and I searched the resources, reviewed the paper, joined their Telegram channel and checked the website.
I found that Tenup ICO is nowhere near launch and I think it's too soon to declare it a scam. I really liked the concept that Tenup is promoting humanity and they will use the ICO funds to research on mesh networking as well as provide easy venture supports to startups through democracy rights of investors. Mesh networking is indeed the next era of technological revolution. The majority of team is young but I believe that young blood is more determined and needs to be encouraged.
I have found the following details that I would like to suggest correction for to the OP:

• This is more of an asset backed token/coin unless they disclose it's utilities prior to ICO
• The fund raised will be used in development of mesh-networking hopefully. They have not disclosed the fund distribution yet.
• The founder is actively participating in different conference which is excellent for creating contacts and promoting the launch.
• Pre-mined quantity is not "50 Million" it's "57 Million" which is the hard cap of ICO. In my opinion the amount is fairly large but Tenup team claims to publicly burn the coins left after the ICO. The team will not hold any coins.
• Upon over-viewing the explorer, most of the transactions were the masternode rewards. When I asked them about it on Telegram channel their team told me that "Masternode minting is necessary to keep the blockchain alive and to keep it sustainable against attacks. We will burn all the minted coins publicly". I agree to this explanation because it's a POS.
• I asked them about the plagiarism, They provided me a plagiarism test result https://www.quetext.com/report/238912da3c8367881eee .They further stated " As it is a fork of PIVX many of the features are same and they had to be explained the same way"

I found a very strong community at Telegram and that is essential for the cryptocurrency growth. They seem to have heaps of trust on this coin and it's founder. In the end, It is the trust that builds the community.Even if it is a mere value transfer coin, it is still a first attempt from the Nation.
Well I have my own views , I was replied very politely at telegram and was given prompt reply regarding my questions. They agreed that they are still in preparation phase and they will disclose utilities prior to ICO public sale. I am shocked by the amount of private investors that Tenup has gathered without major advertisement. I will search more about the founder and try to share it as well.
I hope this does not turn out to be a scam and they disclose the applications and utilities soon.

I tried to raise question but founder of tenup blocked me on twitter https://preview.ibb.co/hzuD7y/image.png i tweeted scamalert with your post link on twitter, thank you for writing on this matter

Thank you for clearing out the points. Now I will stay away from his project(s).

You should bring this to the notice of relevant authorities and to the media in Pakistan
They will investigate and may take action

Waqar Zaka a self-proclaimed crypto king of Pakistan. In 2017 he started promoting onecoin and bitconnect which end up as a scam and January he launched his own coin ouicoin he did a private crowd-sale on his snapchat and collected a huge amount of money in his personal bank accounts which no one knows how much till date. Now its Tenup 13 Million Dollar ICO and serious question raises.

- What is the use of #tenup?
- Why tenup need 13 Million Dollars?
- Where will 13 Million Dollars invested?
- How will tenup make its place in the crypto world?
- 50 Million Premine for ICO and still mining more coins.
- blockchain explorer shows 100% of mined coins going to few wallets.
- No bitcointalk announcement thread.
- All team members are amateurs except one of the CTO who owns the company https://mparsec.com
- Whitepaper is plagiarised with PIVX content.
- What guarantee is that tenup is not ICO exit scam.
- Did Estonia Government or Estonia crypto association has given any legal license to tenup?
- What will happen in December and How much profits tenup investors will get?
- Why keep kicking serious investors from tenup telegram channel when asking serious questions?

I tried to join #tenup telegram channel and started asking these questions as an investor. Admin kicked me out of the channel and deleted the messages. Mostly I see on social media talking about #waqarzaka and #tenup either they work for Waqar Zaka or they are emotional investors. It's our hard earned money which we going to invest to gain profits not to give money to roam around the world on people hard earned money for his own benefits. In Past Waqar Zaka collecting donations on Syria and Myanmar refugees name. Did someone ask Waqar Zaka how much money was collect in donations and where it all spent? If someone asks Waqar Zaka this question he started abusing them. This is not the way to deal with your followers and Investors. He is currently using Pakistani Engineers and Pakistan card to make his followers emotionally invest hard earned money in tenup like some of you invested in onecoin, bitconnect and ouicoin.

So investors and followers of Waqar Zaka. It's your hard earned money before investing it you need to ask Waqar Zaka all the above questions. I am not going to invest in #tenup it looks like a total scam. He gonna end up saying He lost all the money as he announced in past when onecoin and bitconnect did the scam. 

Do you think a person with 1 Million followers on Facebook and 110K Followers on twitter gets very few likes and retweets. Mostly retweets and likes are from his social media team and all tweets are mostly promoting Waqar Zaka and his scams. He is only interested to get hands on your money and live his life on it as he uses to do it past.

Anyone can add more questions to it so Investors and followers get a clear picture.