The founder of Singapore blockchain startup TenX Julian Hosp, likely to be involved in the activities of the Austrian financial pyramid scheme Lyoness. It is reported by the Breaker with reference to the “educational” video from Lyoness, supposedly the voice of the Hosp.

Note that in the video demonstrates a personal logo Hosp, who was allegedly involved in a pyramid since 2011. The publication writes that Lyoness declared illegal fraudulent scheme by the Supreme court of Switzerland, the Austrian civil court and Council of Norway on issues of gambling, however, continues to operate in other countries under the brands Cashback World, myWorld and Lyconet.

The Austrian TV station ORF has published an investigation about the activities of Lyoness six years ago. Refer to the link [English subtitles available].

As reported by The Financial Telegram, Hosp tried to remove all public data, linking it with Lyoness, before making ICO project TenX.

Tocancel was held in June 2017, when the project managed to collect 245 000 ETH or nearly $80 million at the exchange rate at the time of the campaign, however, the promise of product — a debit card for payment with cryptocurrencies — not functioning since, as Visa refused to serve relevant payments for non-US residents.

In the road map project has contended that in 2018, the network TenX will reach transaction volume of $1 billion and in 2019 — $20 billion. in addition, the whitepaper was told that the PAY token holders will receive 0.5% of all payments on the platform monthly. These promises were not met.

7/ In the whitepaper, TenX predicted that it will cross $1 billion transaction volume for 2018. They are only a billion off here because the volume has been 0 since January. Also $20 billion in 2019. Good luck! And what about trading ETFs? What happened to that?

— Larry Cermak (@lawmaster) 17 Nov 2018.

At the moment, the PAY token lost 95%.

Data CoinMarketCap

We will remind, earlier it became known that the head of cryptocurrency project AriseBank Jared rice is facing 120 years in prison for fraud.

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