Recently we were asked by a client if we had heard of CryptoKami and if we thought they were legit. We did some digging and in our opinion CryptoKami should not be invested in.
In our opinion CryptoKami is a scam.
We found out that the developers are buying stolen/hacked accounts on Bitcoin forums and using them to post fake messages promoting their ICO. The official CryptoKami account on BitcoinTalk.org even admits that they used this fraudulent practice.
How does someone “accidentally” buy an account and then “accidentally” use it to post false reviews?
Whether or not they knew the account was stolen is not the point though. CryptoKami admitted to buying an account and then using it to give themselves fake reviews. This is not something a respectable company would do.
The thread is full of new accounts leaving positive but short and vague comments with no insight or reason given. This is typically a sign of scams.
You can see the entire conversation here
Then there is the Reddit thread below. In it they redditers point out the CryptoKami developers are hiding their identities.
Yes, there is a certain amount of anonymity the crypto world enjoys. You give that up when you are asking strangers to trust you with millions of dollars. Real businesses don’t hide the names of the people in charge. You know who goes to great lengths to hide their identities? Scammers.
The ICO rating services rank it badly
Reason #4 (and the biggest reason we believe CryptoKami is a scam)
CryptoKami put on their “partners” page that they were going to be listed on several large crypto currency exchanges. There are a few reasons this shows CryptoKami is a scam.
- No ICO gets listed on all the major crypto exchanges that quickly.
- Coinbase takes years to add coins so they are lying about having a deal with Coinbase.
- No exchange allows an altcoin to publicly state it will be listed before that listing happens. That information is kept very secret.
We are not an investment advisor so we are NOT telling anyone what to do. We are sharing what we would do ourselves. If any of us owned Cryptokami we would sell immediately and tell everyone we know to stay away from it.