Quote from: Bridgebuilder on July 05, 2018, 08:13:02 AM

Good summary of what went wrong with Envion (as we now so far):

Here the list of Envions Big 5 Failures:

1) *Incomplete Prospectus* omitted the real picture of Envions behind-the-scenes corporate structure including involved key entities (Quadrat GmbH and Trado GmbH), the core business role of Trado (e.g. ICO, IP, token generation etc.), its shadow CEO Michael Luckow and related founders. Discrepancies exist between prospectus and whitepaper re shareholders and founders. Why the secrecy about real structure, shareholders and founders?

2) *Corporate Raiding* by CEO Mathias Woestmann and accomplices, abusing an inadequate corporate structure and allegedly trying to secretly sell Envion. Woestmann claims to have justification for his capital increase (which undoubtedly breached a Quadrat-Trado contract) but no hard evidence has been brought forward yet. Why the strange silence? Fraud?

3) *Insider Trading* by undisclosed founders using a backdoor created via modifying the previously audited EVN smart contract. Tokens worth millions of US$ sold before end of an earlier in place and communicated 6 months lock period, via an undisclosed 3rd party. Investors were not informed upfront about smart contract manipulation or token sales. Exact amounts, use and whereabouts of resulting funds unknown. Why the secrecy? Fraud?

4) *Misleading Communications* towards investors overselling positive news (hardware arriving, production started, mining started, LOIs etc.) and hiding factual negative news (Enel and PWC drop off, fallout between CEO & founders, founders selling of tokens etc). Critical voices are banned from Telegram channels and critical media reports arrogantly dismissed as irrelevant. Complicit in fraud?

5) *No Mining, Huge Losses*. To date, instead of hundreds of mining units generating the heavily promoted 161% ROI, investors face up to 85% losses of their investments. Court cases between parties and investor protection lawsuits are underway, making it impossible to assess if there ever will be Envion mining payouts. One of the biggest ICO fails in history?

Unless a major breakthrough surprisingly would happen, the conflict could go on for years. Looks like courts will now determine the fate of Envion.

Source: https://medium.com/@franzemonaco/envions-big-5-failures-c8b60c07f079

can anyone give some comment about this envion project? i know for some ICO investor might think this is a FUD but to be honest this is necessary to be criticism.
because the fact that i got the news from CNBC there is more than 900 ICO's from 2017 till 2018 has already failed.
and some others blockchain startup might fail in the next 1 - 3 years.