Ran Neu-Ner posts open letter to The Block after recent BCT scam allegations

18 Dec, 2018 | Updated: 18 Dec, 2018
by David Borman
Ran Neu-Ner posts open letter to The Block after recent BCT scam allegations

A controversy recently has unfolded around CNBC crypto analyst Ran Neu-ner, news site The Block and the reporting of the massive BCT scam affecting many investors. Chepicap recently reported that Neu-Ner had immediately and openly denied The Block's claim that he was involved in the entire scheme, and now he has penned an elaborate response in which he picks apart the accusations and offers his explanation for the events.

It all began when The Block broke the story that Blockchain Terminal, an ICO project that was promising to offer an industry grade trading terminal to investors, was in fact a complete farce run by a man, Boaz Manor, who had been sentenced to prison in Canada for running a fraudulent hedge fund. Going under an assumed name, Shaun MacDonald, he created what seemed like a legitimate company at a time when excitement for crypto was at a fever pitch.

The project legitimately had several consultants and experts involved, giving it an air of legitimacy. However, none of it was real, true working terminals were never delivered, and the token, BCT, is not available to trade anywhere.

This is essentially what has been reported. Neu-Ner's issue is that in the article he is called out as having been involved with the project, taking money from investors and openly shilling for a scam. Neu-Ner also points out that a tweet storm about the story discussed him specifically in 11 out of 14 tweets. Neu-Ner provides screenshots of some examples, as they have been since deleted:

Neu-Ner then goes on to give his account of what happened, as well as lambast The Block for never contacting him concerning any of this until six hours before posting the article, and before he could respond. He points out that the combination of no real effort to get his information, not to mention for the most part not contacting real BCT advisors at all, as well as making claims with no real supporting evidence, all constitutes gross journalistic negligence.

In Neu-Ner's version, he is essentially just another defrauded investor. He says he did invest in the ICO, a fact he never has hidden, and he did accept consulting work as he saw other high profile consultants working for the same firm giving it a sense of legitimacy. He claims he cut all ties to the company once he found out the true identity of MacDonald, AKA Manor. He also says he never took any money from other investors.

After Neu-Ner posted this blog responses came in from across twitter, and even The Block, though they mostly stick to versions of the line "We fully stand by our reporting." Others were quick to either support Neu-Ner or attack him and stand by The Block:

While it may be a bit early to say this is over, it should be noted that Neu-Ner seems to offer a lot more evidence for his claims than The Block has. Nonetheless, stick here with Chepicap for any further developments in this unfolding saga.

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Read more about: CNBC Bitcoin (BTC)


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