An alleged scam cryptocurrency project has told NewsLogical that its creators are bigwigs in the cryptocurrency industry, naming the likes of Tone Vays, CoinField CEO Bob Ras, Nischal Shetty, the CEO of WazirX, and some others as its team member.
The project says these cryptocurrency personalities are its “motivated team members”. Although it claimed its project is headquartered in Singapore, the cryptocurrency project dubbed Singapore Dollar Coin also named some crypto experts as part of its “advisors”.
On its website, Singapore Dollar Coin put different pictures of cryptocurrency advisor ToneVays and Bob Ras, and some other notable personalities as part of its team members.
The cryptocurrency platform, which is already gaining ground, also added Ian Balina, an influential Blockchain, and ICO Investor to its list of advisors.
However, there are indications the Singapore Dollar Coin is a scam.
In the same vein, the scam crypto project, included the name of Nischal Shetty, the CEO of WazirX, confirming to NewsLogical that the CEO is also behind Singapore Dollar Coin. The scam project made entrepreneur Qazi mujeeb ur Rehman as its head of finance.
Meanwhile, Tone Vays is warning crypto investors against investing in the crypto, clarifying that the claims of the project are false.
Tone Vays, whom the project named its Community Manager, denied having any business to do with the cryptocurrency project, advising crypto enthusiasts to be wary of the scam project’s antics. He said the ICO is attempting to use his name and that of Ian Balina to scam people.
The following ICO is a Scam that is using me & @DiaryofaMadeMan on their website (don't know the other guys). No idea what to do about this. @binance & @kucoincom are also listed so maybe @cz_binance has the lawyers to deal w/ this: https://t.co/5la3JJ6VRI pic.twitter.com/r4xeJzloPP
— Tone Vays [Vegas – Unconfiscatable.com] (@ToneVays) November 29, 2019
For now, it is not clear who the owner of the platform is, however, funds are already entering the ICO’s Ethereum addresses, affirming that unsuspecting people are already falling prey to the scam.
Who is Behind Singapore Dollar Coin?
When NewsLogical checked Whois, we discovered that the Singapore Dollar Coin’s website was allegedly opened by one “Naveed Ahmed” resident in Brohi Chowk, in the city of Larkana, Sindh, Pakistan.
Image Credit: Whois.
The owner of the website inserted a Pakistan phone number “+92.3080593845” with an email address “firstname.lastname@example.org”. According to Whois, the site was launched early October 2019
Upon seeing this, we made some findings about the email and the phone number. The email belongs to an ICO marketer referenced on three to four sites.
Here, we contacted his phone number through WhatsApp and discovered he’s the same Naveed Ahmad, from Pakistan.
While he denied being Naveed Ahmad, he said the name of the project owner is Naveed, resident in the Philippines.
We queried him on the project, ‘Naveed’ said he’s not the creator of Singapore Dollar Coin, but a mere developer working on promoting the digital currency.
Our correspondent told him about Tone Vays denying having any relationship with the projects, the same with Bob Ras of CoinField.
— Bob Ras (@bobrasX) November 30, 2019
Then, he said he’s the moderator of the scam project’s Telegram group and its Manager in Pakistan.
We questioned if he informed these crypto bigwigs about the project before putting their names on the site.
“No they want to hide some names now because they want to give surprise to their participants,” Naveed said.
He said WazirX CEO created the scam cryptocurrency project but hiding it because he has a crypto exchange in India.
“Yes it is because ceo is from India and also they have their own exchange Wazirx in India, and 2 [sic] more big blockchain developers are team members from [sic] Singapore Dollar Coin.”
We queried further on whether Tone Vays is part of the project, he said “yes”.
However, he told us the project has no relationship with Binance CEO for now, but will include the exchange’s founder next year.
Although he said Singapore Dollar Coin’s private sale has closed, the ICO started with $0.5 price, while the listing price was $1.
Every available information about the projects on the internet indicates the owners launched the project to dupe unsuspecting people.