[FRAUD] LEOcoin scam making demonstrably fraudulent claims to con general public
The people shilling for the MLM/Pyramid-Scam-based coin, 'LEOcoin' have claimed since the coin's inception that, unlike the pseudo-anonymous nature of the vast majority of digital currencies, they have developed technology which makes it, "truly anonymous".
Their leocoin.org website, the central point of information on the web for the general public to learn of this coin and its features has long (since 2014 according to LEOcoin Foundation) contained this explicit claim:
Anybody who understand the basic principle behind bitcoin knows it is not anonymous, it is pseudo-anonymous. While addresses within the publicly-viewable blockchain are not named and generally do not carry identifiers of the person who possesses the private key to them, the fact is that every single transaction since the genesis block can be tracked to analyse the movement of coins to and from these addresses.
By simply discovering the information of who owns some of the addresses, usually through their having used centralised exchanges which require users to submit their identity, or through using Bitcoin to make online purchases which may involve submitting personal information or a delivery address, it is absolutely possible to uncover a veritable trove of information on that person's coin transactions, their history and even trace their ongoing activities.
This is why the concept of a "truly anonymous" digital currency is often considered as the 'Holy Grail' of cryptocurrency technology and very few coin projects seek to specialise in achieving this complex and extremely difficult goal.
While many digital currency websites play fast and loose with the use of the word 'anonymous' when listing the features and specification of their coin, usually simply alluding to the lack of address identifiers, only those projects which are claiming to specifically offer total anonymity list in their coin's features that they are, "truly anonymous".
LEOcoin, which is known to market and promote itself through an MLM/Pyramid scheme to the general public, not only claims to possess this valuable technology, but even qualifies that claim further by comparing itself to regular digital currencies which are anonymous "only on a superficial level".
There is no vague, hand-wavy, stretching of the truth here. They do not simply claim it be anonymous, they specifically claim it to be, "truly anonymous" and, therefore, superior to other coins which are only pseudo-anonymous, like Bitcoin for example. LEOcoin is actually claiming that it offers a feature which even the multi-billion-dollar Bitcoin does not have. It is promoting itself to the general public as offering a function that it simply does not possess.
It is doing this in order to make itself seem more advanced a technology than 'other' coins, like Bitcoin.
It is doing this in order to persuade the general public that it is a worthwhile and valuable investment.
It is committing fraud in doing so.
Their leocoin.org website, the central point of information on the web for the general public to learn of this coin and its features has long (since 2014 according to LEOcoin Foundation) contained this explicit claim:
Anybody who understand the basic principle behind bitcoin knows it is not anonymous, it is pseudo-anonymous. While addresses within the publicly-viewable blockchain are not named and generally do not carry identifiers of the person who possesses the private key to them, the fact is that every single transaction since the genesis block can be tracked to analyse the movement of coins to and from these addresses.
By simply discovering the information of who owns some of the addresses, usually through their having used centralised exchanges which require users to submit their identity, or through using Bitcoin to make online purchases which may involve submitting personal information or a delivery address, it is absolutely possible to uncover a veritable trove of information on that person's coin transactions, their history and even trace their ongoing activities.
This is why the concept of a "truly anonymous" digital currency is often considered as the 'Holy Grail' of cryptocurrency technology and very few coin projects seek to specialise in achieving this complex and extremely difficult goal.
While many digital currency websites play fast and loose with the use of the word 'anonymous' when listing the features and specification of their coin, usually simply alluding to the lack of address identifiers, only those projects which are claiming to specifically offer total anonymity list in their coin's features that they are, "truly anonymous".
LEOcoin, which is known to market and promote itself through an MLM/Pyramid scheme to the general public, not only claims to possess this valuable technology, but even qualifies that claim further by comparing itself to regular digital currencies which are anonymous "only on a superficial level".
There is no vague, hand-wavy, stretching of the truth here. They do not simply claim it be anonymous, they specifically claim it to be, "truly anonymous" and, therefore, superior to other coins which are only pseudo-anonymous, like Bitcoin for example. LEOcoin is actually claiming that it offers a feature which even the multi-billion-dollar Bitcoin does not have. It is promoting itself to the general public as offering a function that it simply does not possess.
It is doing this in order to make itself seem more advanced a technology than 'other' coins, like Bitcoin.
It is doing this in order to persuade the general public that it is a worthwhile and valuable investment.
It is committing fraud in doing so.