Fujinto: Anatomy of a Scam

File: Shady.jpg (54KB, 391x635px) Image search: [Google]

54KB, 391x635px

This is is still going on so I will repost it.

https://fujinto.io/

First, I don't want to encourage people to only invest in establishment ICOs because that is immoral. But we have to watch out for scammers. There are a lot of bad signs with this one.

Second, this isn't a bad business idea. I think we will see travel coins in the near future because while you can't by plane tickets anonymously, it would be nice to have an option that is about as anonymous as cash. Also, blockchain tech is just going to replace everything that uses financial contracts eventually.

This caught my eye when it was listed on coinmarketcap.com. The whitepaper is not well done, but that wasn't a dealbreaker. It really isn't that important if there is a good team in place. The fact that the market cap was set so low was a red flag though (only 33 million which is like a successful mom and pop travel agency's yearly bookings).

The problem is that the github is basically nonsense. Check it out: https://fujinto.io/images/social-github.png . It looks like it is there to basically fool idiots into thinking actual development is going on.

Another red flag is that the people listed on the site are fake. We live in a market where you can use your forum screenname on a whitepaper and that is fine. There is no reason to make fake people up.

Finally the sale is done through an ether address. That is it. Shady. Reminder: Ether Tokens are stupid easy to make!

If you saved or made money because of this, tip me 10%. What a great deal!

LITECOIN (LTC): LTiUiNwK9S83Xp3m5Em1rcebVAKY3sMBP1
MONERO (XMR): 48nXBajorzkZLeotCBw1XgYaUgENGuxS1hhK75hoGgUSQVHsoVa3EWj86EvqKjeorUY77SVu8fj8TPevfz3dnmX567djac248nXBajorzkZLeotCBw1XgYaUgENGuxS1hhK75hoGgUSQVHsoVa3EWj86EvqKjeorUY77SVu8fj8TPevfz3dnmX567djac2

[email protected]

Stay tuned for why KyberNetwork's liquidity solution won't initially work (it might at scale), and why Bancor based coins will attract pump and dump scam artists.

Your friend,
RoosterRed