PRESS RELEASE: Stox Has Resorted to an Exit Scam After Raising $33m Through the ICO

PRESS RELEASE: A 7-Year Legal Fight Led This Dev to Build Unstoppable Ethereum Storage
November 11, 2018
PRESS RELEASE: ‘Carry Protocol’ Gets Investment from ‘unblock ventures’, Japan’s Largest Messenger LINE’s Corporate Token Venture Fund
November 12, 2018

After more than a year, reports suggest that Stox has resorted to an exit scam after raising $33 million through the initial coin offerings in August 2017. The prediction platform was shilled by none other than Mayweather and had Sirin Labs’ Moshe Hogeg as an advisor. This should be a big weapon for those who are gunning against the cryptocurrency and its wider adoption despite ambiguity.

Dumping Vested Tokens

It was always the habit of Stox to claim that they were doing whatever they can to provide one of the finest prediction market platforms. However, in reality, it was a different story and started to dump the vested digital coins of the team, as well as, partners on exchanges immediately after the ICO. What was more intriguing was the fact that Moshe Hogeg himself has resorted to dumping a big portion of his share on Bancor?

It was not the only case and even during the past few weeks, Amazix, a group of crypto ICO consultants, have disappeared all of a sudden from their positions while Stox CEO, Yossi Peretz, has put in his papers. Aside from these, Commologic and have already exited the project as they were supposed to take care of the development and positioning of market share. The most recent reports suggest that they not only dumped their office but also fired all staff.

Tokens Created

According to the contract details, shared by Reddit user arbobmehmood 29.6 million tokens were created, and 55 percent of them were meant for strategic partnership address while 25 percent held by address. Another 20 percent was held by the Stox team. Interestingly, both of the vesting addresses were enjoying the benefit of revoke=True parameter set thus enabling them to cancel the vested amount and returned to their wallet. This kind of transactions represented nearly 12.5 percent of total Stox.

This was repeated again with 5.92 million Stox that was equal to 10 percent. The significant factor is that these transactions occurred after 4 days of inactivity and in the same hour on the partnership address. This meant that they were probably part of the vested funds. It appears that if someone goes deep into the case, there could be several startling revelations.

Follow us on Facebook , Twitter and Telegram

Enjoyed the content? Subscribe for more

(adsbygoogle = window.adsbygoogle || []).push({});

The post Stox Has Resorted to an Exit Scam After Raising $33m Through the ICO appeared first on – Daily Cryptocurrency News .

This is a syndicated post from

Comments are closed.