Stox accused of performing an exit scam after raising $33 million in an ICO

11 Nov, 2018
by Richard Allen
News
Stox accused of performing an exit scam after raising $33 million in an ICO

Recent reports are suggesting that Stox, a blockchain-based market prediction platform, has resorted to an exit scam after raising $33 million through one of the most hyped ICOs of last year.

What's more, the platform was endorsed by none other than boxer Floyd Mayweather and had Sirin Labs’ Moshe Hogeg as an advisor.

The company allegedly claimed to be building one of the best prediction platforms available. However, immediately after the ICO concluded, Stox began dumping the vested digital coins on exchanges. Moshe himself dumped a large portion of his share on Bancor as well.

post on Reddit that surfaced several hours ago by user arbobmehmood tracks the transaction history of the Stox tokens. The post also highlights that several original advisors and supporters of the project have jumped ship.

“In the last two weeks, Amazix have suddenly disappeared from their admin positions and the CEO Yossi Peretz has resigned. Commologic and Invest.com, whom were once presented as key factors in Stox’s development and market share positioning, have already left the project,” an excerpt from the post reads.

“Reports from earlier today state they have now abandoned their office, firing all staff...”

AmaZix is a team of experts that help crypto startups prepare for an ICO.

According to the post, an update from the Stox team states that accusations of an exit scam are nothing more than FUD. The message reads “The anonymous source re-published a message that was published and already answered more than a year ago (26.9.2017). This source copied the message and shouted “Exit scam” without having any cause whatsoever. We would like to stress that Stox will bring legal proceedings against anyone who defames Stox with unfounded allegations.”

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