Rate ICO: "HIGH" fraud risk | Digital Rating Agency

Rate ICO: "HIGH" fraud risk

07.11.2017

Rate ICO: "HIGH" fraud risk
Ratei.co should protect potential investors from fraudulent ICO through the auction system. The project plans to conduct its own ICO and believes that company's tokens will grow in price thanks to the blockchain-based rating system, formed on the basis of the auction principle. The more tokens a particular project pays to the platform, the higher its rating will be. The very principle of the auction conflicts with the mission of the platform - to protect potential investors from fraudulent projects: nothing stops scammers from buying tokens and get its rating up. The essence of the examination is not disclosed on the website. There is a list of 50 different fields experts on a one-page lending platform. The confirmation of their participation in this project is missing. The project team consists of 1 person. According to open sources, Airat Zagidullin is CEO of X5 Global Group Co Ltd. The information on this company could not be found. The White Paper does not exist, the website does not have convincing information on investors motivation to buy tokens and reasons why it should grow in value. Data on the tech, developers, and marketing are absent. There is no doubt that followers in social networks are fake. For example, in Telegram, the number of one post’s views can reach 3,000 (with 800 participants), while the next post receives only 60 views. There are no active discussions on BitcoinTalk, most of the messages are the project announcements. The company does not answer the questions from community’s users.