The whole issue around Cointed is getting more and more obscure. The simple truth is that the company and token issuer Cointed Ltd is not what it claims to be and doesn't own what it claims to own. Moreover, at least one company - General Bytes -
officially claims IP infringements, right?
Cointed said in their White Paper and in several other public communications that they own Crypto Unity OG (mining business) and die Austrian Cointed GmbH and all other assets and that everything is already recorded accordingly. Last time they did so in their "
Brutkasten Interview" yesterday or in their official answer to the
General Bytes Open Letter:
Cointed Ltd. Is the official Mother Company of Cointed GmbH, and it is already entere das Shareholder.
Deloitte and KPMG are doing the Legal Staff in all Countries right now, and with Date 20.10 Cointed Ltd is MOTHER of all Companies we have WORLD WIDE and we have much ... All Shares and Companies belong to: Cointed Ltd.
Fact is that the Crypto Unity OG still is owned by Charli AHO and the initial investor and hence they definitely do have this mining business in Cointed Ltd as
purported in their White Paper:
Our subsidiary, the Vienna-based Crypto Unity OG, has been at the forefront of crypto mining developments since 2015, distributing custom-designed mining hardware for decentralised cryptographic networks - such as BTC, ETH, ETC, XMR and ZEC - as well as developing advanced BIOS and operating systems in-house.
This has been confirmed by AHO to the investor yesterday in a phone call. And the same is true for Cointed GmbH that is not owned by Cointed Ltd. See the official record of the Austrian Commercial Register above. The investor of Crypto Unity OG will take the necessary steps on Monday to reserve his rights and keep damage from him.
Cointed's public statements are simply false in the sense of
§ 163a StgB and a criminal offense. False public statements are punished with up to 3 years jail especially if you provide those false statements to raise funds. They claim that the token issuer Cointed Ltd has assets it hasn't and hence they provide a false statement of assets to potential investors.
It's sad to see how ICOs are done and how careless teams are asking investors for up to USD 120.000.000. I mean, that's really big money. Look what's just happening to TEZOS with the upcoming legal procedures and litigations. There will be a lot of litigations around other ICOs too. So be careful with your investments especially when there is so much uncertainty.
Stay tuned, we will finish a comprehensive blog post ON Cointed and the team on Medium and LinkedIn tomorrow with all legal data and pieces of evidence.