Topic: [WARNING] Walton Chain (WTC) is a SCAM - page 7. (Read 27292 times)

the price rushed to an ath of 8,70 USD and it is stable at the moment at around 7,50 USD, it is an incredible price performance and if this is a scam i only want to invest in scams for the future

don't feel bad, i rode it from $2 to $8. dumped it all for now. too sketchy for me. i'll jump back in if there's more legit news vs all the shilling on this one.

Feel bad for anybody who sold based off this guys FUD.

All I heard from them was samsung samsung samsung, followed by a pump, when this appeared to not quite be the case, it left a bad taste in my mouth.

If the walton chain already verified as a scam and coinmarketcap may remove the walton chain from the list. https://coinmarketcap.com/currencies/walton/
The possibility to be scam will always there but you must remember to make a clarification with the people that was having an engagement with the team.

Isn't this a shame, better luck next time

 For what it is worth I have emailed to the JinJiang government asking if they have details about the JinJiang competition. I can let people know if I get a reply. The contact details they have for the public are here: http://en.jinjiang.gov.cn/2015-04/22/content_20509303.htm
 
 If anyone is able to contact them in Mandarin or Min Nan that would be good. I'm not sure who is likely to receive my message in China and if they will be able to understand what I am asking. It would be good to get some corroborating details on the JinJiang competition and the 1.3 billion yuan Waltonchain say they have won.

 The more I think about Waltonchain's claim about building a new blockchain the less sense it makes to me. The Parent Blockchain section of the whitepaper:


What they are selling though is pretty standard Ethereum smart contract, not a new token on a new blockchain or even starting from a new Genesis block from what I can see. My knowledge of the Ethereum platform is beginner at best though. For anyone who is interested the WaltonToken smart contract code is here: https://etherscan.io/address/0xb7cb1c96db6b22b0d3d9536e0108d062bd488f74#code

I don't see anything to back up a claim that this token has been used in trial at a billion dollar clothing company. Personally, I don't understand the relationship between this token and the Value Internet of Things.

This is a turning out to be a pretty legit project, and already made me some decent profit at 5x-6x

They also got some Chinese govt related contracts and are getting a lot of attention in asia (they were one of the few coins allowed to continue despite recent ICO, many others had to refund contributors)

I agree you would be an idiot to bet 100% of your capital on this or ANY one single coin

This is far from a scam though, I encourage everyone to take another look so you don't miss a potential good coin here

People can make their own decisions, but even if Waltonchain is not a scam, the best case scenario is that it is an early stage tech start up. No-one but the founders should be staking 100% of their capital on it.

Here's that Korean scam artist:

https://robertkim-scam-korean-american-conman.blogspot.be/2014/11/korean-american-con-man-defrauds.html

I doubt he did get anyone on the phone, considering right now are the biggest holidays in china (moon festival).

https://www.timeanddate.com/holidays/china/

Even if he did get someone, that person has most likely no idea what crypto even is or if it is beeing used in their company right now.

well, if it is a scam, it sure a very successful one. the price has raise a lot right now.

I don't know why some of them even bother. It's just annoying and we don't take them serious anyway.

It's weird how those who invest in WTC start to sound like a religious cult.
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go to subs of ETH, NEO, OMG, ARK, etc (all of which I'm invested in btw) and you will see worse. People getting excited and shilling their coin is what the community is about.

HOWEVER, people like keihatsu who take time out of their busy schedule to not only warn others about WTC when he has ABSOLUTELY no interest in it are very very rare.
While on the surface he may sound like a complete psychopath cold calling Septwolves, etc and what may appear to us newbs as someone who is mentally instable,
I only see a crusader who has only the interest of others in his heart. A true hero. Bravo.

This newb, who has been holding over 2 dozen BTC since the $500 days and just made 600% on WTC will certainly take your words into serious consideration.

It's weird how those who invest in WTC start to sound like a religious cult. If someone expresses doubts about the project, its because they really want in but hope they can drag the price down with their doubts. This is absurd. If there was a really sound product behind Waltonchain, comments on a forum should not affect the price to the extent required to make this claim carry any weight.

It should cause serious thought to investors in Waltonchain, that the coin has been available since the end of August, but the 'blockchain' has yet to be released or seen by anyone outside of the project team.

Any child needs to use Waltonchain to create money.

Despite all arguments thrown into this topic, it is obvious there are many new accounts created just to reply here.

The replies are ridiculous for newbie accounts.

I'm not the one to do conspiracy theories, BUT these things truly happen in the crypto world. We're talking about money. People will do anything to earn some.

My theory is that Keihatsu may have lost the train on this coin, wants to create FUD to get in because he knows the project is legit and has the potential to get to really big prices. He has probably created some bitcointalk accounts by himself to reply in this thread.
Second theory is that they want to destabilize WTC because they didn't invest at the right time. Now they want to pump VeChain. Good luck with that.

Also, remember WaltonChain is heavily FUDDed by 4chan community.
https://i.redd.it/ivcr6uqvkipz.jpg

What I learnt is never do what most say. If many people say you should invest in something, then DON'T.
In the same time, if many people say you should definitely SELL some coin, DON'T SELL! It's most likely a trap. Think about it.

Conclusion: don't trust anyone, not even myself. Do you own research, counter all arguments and make your own decision. Don't let yourself manipulated.

All the best!

This morning I reported Walton Chain (WTC) to:

Financial Conduct Authority (FCA) - UK
Securities & Exchange Commission (SEC) - US
National Internet Finance Association of China

Thank you Keihatsu for your investigation

WTC seems suspicious to me as well, what I think is that they are gaining attention because of a good ideas. Idea is the only thing they got. Is there a working product? I didnt manage to find anything. Real life applications, big company press-releases?

I know people from one project which gained a ton of money during their ICO with only an idea with no working product. They collected 50m dollars and realized "shit, we need to do something now" because they initial plan was to take the money and chill on beautiful island rest of their lifes. Well luckily they hired a team of professionals and now developing their product

Maybe its the same with WTC. They offered a really nice cover. But what is inside? Dunno

Its easy to list notable people on the website. You had one meeting? Put them on a website. You had one call? Put them on a website.

Well actually I personally know a lot of CEOs of various big businesses. Can I run my own ICO? Lets do it!  

What seems interesting for me is another project - VeChain. I started my little investigation and I presonally think that WTC is a combination of good ideas from VeChain

So WTC was established November 30, 2016 - what I found from their website.

Vechain was established earlier:

in 2015, BitSE launched Vechain, a solution to deal with anti-counterfeiting through applying a unique ID to each product / item.
16 June 2016 – PwC China signed a join business relationship with BitSE

So from its beginning in 2015-2017 VeChain trying to combine NFC, RFID or QR with blockhain. Its what WTC trying to do, right?

I think WTC may not be a scam, but they are doing everything to look much better than they are in reality.

Everybody is talking about WTC strong team. WTF, their website just gives a compilation of random people connected to blockhain/rfid tech/supply chain. Dont even have same style photos.

Congrats for everyone who made ton of money with WTC, but IMHO dont hodl, bubble can pop - be careful

Thank you for the research @Keihatsu; and for the heads up.

I've also sensed a lot of inconsistencies and all around sloppiness vis-a-vis this project. Hopefully you're right and it's a shit coin for pump and dump.
I'm personally looking forward for more information to come to light in the upcoming days.

Cheers!

I have spoken to Fujian Septwolves Industry Co Ltd  +86 59 2537 7777

They are unaware of Walton Chain (WTC). As a company listed on the Shenzhen Stock Exchange, they have a legal obligation to disclose any partnership that would have a material impact on the business. The company does not know who Xu Fang is (according to Walton Chain he is the project sponsor and "seven wolves company supply chain management director"). Xu Fang is certainly not listed in any company filings going back several years:
http://quicktake.morningstar.com/stocknet/secdocuments.aspx?symbol=002029&country=chn
https://www.bloomberg.com/research/stocks/private/people.asp?privcapId=12763522

I have emailed Jin Xiji (SuKi Kim) "former VP of Samsung" about his involvement in the project, I have yet to receive a response.

I have contacted Korea Universtiy to check the SuKi Kim is a Professor Emirates there and that I have the correct contact details.

It is very difficult to find public profiles for most of the team. I have tracked down a Zhu Yanping, who is Taiwanese and has a PhD in engineering, he is not aware of Walton Chain.

Qiu Jun "angel investor" and the "Shenzhen Hong Tao Fund" does not exist, neither does the "Calton Dayton Clothing Co".



So, as the previous poster stated, this should not be viewed as anything other than shit coin for pump and dump.

I find it hard to believe people would invest in project like Watlon Chain based purely on face value and what they say. There are more holes than swiss cheese.