Tkeycoin is one bold scam, as daring as they come. It is one of those project that has made fraud and ICO synonymous.
At the moment, there are many scam ICOs going on that it is a tough call keeping count. This is mainly due to the popularity of initial coin offerings towards the end of 2017 when the prices of cryptocurrencies surged.
Here are five reasons you should avoid the Tkeycoin ICO.
What is Tkeycoin?
1)This Project is Claiming Building A New Blockchain Yet Can’t Build A Working Website
According to the ICO site, the promoters of the Tkeycoin said that they created a brand new blockchain. This sort of claim is remarkable because it would mean that it is a serious project.
“Brand new blockchain – Brand new opportunities. Meet the cryptocurrency with the most prosperous characteristics. Incredible 50,000 transactions per second!”
the site announced.
A visit to the project website shows that the whitepaper and one-pager pages are returning 404.
Is it not interesting that a project that does not even have a sound and working website is claiming that they built a new blockchain?
Other features of the project according to its promoters is its availability for anyone, anywhere and possibly everywhere.
Then the project talked about how secure your funds are with them boasting that their wallet is the safest option.
2) A Project That Hasn’t A GitHub Page Cannot Build A Code-Based Project
Interestingly, the team announced that anyone and everyone can mine the Tkeycoin either with normal PC or specialized equipment.
Another look around the project shows that despite their claims of a secure wallet and capacity of the project to build coin mine-able by everyone. There is no link anywhere showing that it has a GitHub page.
How then were they able to build a new blockchain without a code repository? How was the team collaborating on the project?
3) No Listed Team Members On Project Site
As at the time of writing this report, the closest indication that the crowd-sale is on is the website located at Tkeycoin.com and the ICO page that announced “the wait is over”.
On the site, people are asked to purchase the Tkeycoin token at a discounted price of $0.7 instead of $1.
Unsurprisingly, there are no team members listed on the website. In other words, the Tkeycoin promoters are just expecting investors to hand over funds to people that didn’t even meet the minimum requirement of posting their social profiles on the project site.
4) Deleted Profiles of Team Members
A look at the archived version of the Tkeycoin website shows the reason no team member has been listed. It is the same with all scam ICOs when they discover that review investigators are close to exposing the frauds on their websites – remove, conceal or destroy the evidence if they can.
The project claimed that the team are engineers and mathematicians. In fact a few review sites were deceived into marking them “verified”.
What we found out is that most of the profiles of the team members had their images taken from stock photo websites. This shows that the project is backed by scammers trying to steal from people.
We all know the reason an ICO team would not want to use their real photos in phantom profiles. They just hope to disappear after people contribute money to them. At best, they would leave a worthless token with those investors.
5) Poorly written web copy
One would have expected a major project such that is building a ‘new blockchain’ not just to have a good working site, the poor diction and grammatical errors as seen on the Tkeycoin is a clear red flag.
Building a new blockchain is no mean feat. Such project should be able to hire proof-readers and expert developers to create a standard website free of obvious errors.
This is not surprising considering that people routinely purchase coins without doing the necessary investigation. Due diligence is sent to the rear resulting in losses.