Pass it forward

Desperate for an opportunity to jump aboard in the next large-hearted situation, cryptocurrency owners are losing money by devoting madly in imitation Telegram ICO websites.

Chat app Telegram’s upcoming ICO promises to break records with a target promote of $1.2 billion, which may be extended to$ 2 billion according to new reports. The public marketing component isn’t scheduled for launching until March, as indicated by multiple media including TechCrunch, but that hasn’t stopped dishonest someones confiscating the opportunity.

News of Telegram Open Network( TON ), the Telegram ICO project, first burst in the final weeks of December before TechCrunch reported exclusively on the full details.

The expectation was tangible. “Telegram is already the actual communication channel for the world-wide cryptocurrency community, making a natural dwelling to its own silver and Blockchain, ” TechCrunch’s Josh Constine and Mike Butcher wrote. At the same season, English and Russian versions of its whitepaper and investor prospectuses, including accurate information around the ICO, were widely seeped across the internet.

That passed would-be scammers the two conditions they needed — promotion and lawful report — and countless websites sprang up offering evident immediate speculation opportunities.

Gramtoken.io was the most prominent counterfeit. The website, which is now offline, consumed items extracted from the whitepapers including job roadmap, crew members and more. It even announced a copy of the whitepaper — which, again, had been divulged already — to give a sense of authenticity. The site’s tracker alleged to have’ raised’ more than$ 5 million before it became dark last Wednesday.

A number of those who invested in the scam took to Twitter in frustration after it was uncovered. TechCrunch hasn’t been able to verify how much Gramtoken.io raised.

Gramtoken.io screenshot via cafebitcoin.vn

It isn’t clear why the area went offline. NameCheap, the company that hosted the Gramtoken.io domain, declined to comment when we asked if it had taken action. If Namecheap didn’t step in, it could be that the people behind Gramtoken.io decided to shut the party down before it depicted too much attention.

Of the rest of the forgeries, ton-gram.io, grampreico.comand tgram.cc remain online, Gramtoken.tech is offline, while a number of Facebook Pages, including one for Gramtoken.io, were made private or removed after being called out as scams.

In addition, it’s reported that some scammers turned to email to blast out forgery Telegram ICO investment opportunities.

In the case of one website, Ton-gram.io, more than 70 parties have invested over $30,000 in Ethereum, according to a pouch address connected to the website.