Review on PlexCoin by gregori cordova
Fortunately, after this ICO scam, investors were able to get their money back
in 2017 after the boom that was happening with cryptocurrencies, a large number of investors, excited about this new financial ecosystem, invested their money in a series of alternatives that were coming out at that time called Initial Launch Offer (ICO). These ICOs were created in that year and were primarily a public launch offering launched by companies, in which they offered an internal cryptocurrency token to investors who would buy them in the hope that the company would launch the product and increase in value. Most investors at the time were not educated about this new system and were easy victims of deception as there was no promise that ICOs would fulfill their future plans.
One of those cases of scam happened with the company Plexcorp and its currency Plexcoin, which in 2017 raised about 8.5 million dollars in its ICO
This company offered, among other things, a return of 1300% return on investment per month, debit cards, a wallet, the possibility of converting your plexcoin into fiat money, etc. Fortunately, this company was quickly labeled as a typical Ponzi scheme and nipped in the bud, in which for the first time in history, the United States Securities and Exchange Commission (SEC) intervened in an ICO, ordering the arrest of its representative Dominic lacroix accusing him of fraud
Pros
- none ! big SCAM
Cons
- They offered a return on investment of 1,300% in just one month, a clear scam, but at that time with the bitcoin fever, investors did not notice!
- After the SEC ordered to cease operations, they tried to divert the money to other clandestine accounts
- They took advantage of good faith and gambled on investors' hopes
- They didn't even have a professional whitepaper about the project
