Quote from: hemendrachauhan19 on March 15, 2019, 06:31:28 AM

***SCAM ALERT***
***TERNIO SCAM***

Ternio (built on Stellar) project is claiming themselves to be capable of 1M TPS but never shown that to anyone. They've posted an audit report of the same on there website - https://ternio.io/audit/ but anyone can see it for themselves and see how fake it is. It's been audited by a company called "Null Bash", with address "304 S Jones Blvd, Suite 2104, Las Vegas, NV, 89107". Now this so called "Null Bash" company seems to have no internet presence.

Here's what makes Ternio a SCAM:

False promises made during ICO to lure the investors:

1. They claimed during ICO that they've been accepted by 3 top 10 exchanges for listing. After they finised ICO in June 2018, they got listed on BitForex (certainly not a top 10 exchange). And since then till now they've not registered on any exchange. When people ask about the same in there telegram group, admins counter it with huge listing fees asked by the exchanges, and most of the top 10 exchanges having wash trading and fake volume going on. If you ask a little bit more on that, they block you from telegram group claiming you to spread FUD.

2. They claimed that 2 big household companies (known to most of the people and hinting on the line of amazon google facebook etc) have agreed to work with Ternio and use there advertising blockchain platform for advertisisng there products. But even after 10+ months of ICO ended, not a single discussion on that, and yes if you ask it more than twice, you'll get a ban.

3. They have said that unsold tokens during ICO will be distributed to the ICO participants with atleast $30 worth of investment. It's been 10+ months now and they didn't distributed them and banning the people if they ask the same in there telegram group. Clearly they don't want to distribute those unsold tokens and keeping them for themselves. I'll attach some pics for the discussion happened regarding the same here in some time.

4. They have started an airdrop and asked everyone to create an stellar wallet, preferable on LOBSTR as they have some kind of partnership with LOBSTR team. They have told everyone for the 4-5 months that airdrop tokens will be sent to LOBSTR account after 6 months of ICO end. ICO ended on 15th june so distribution was supposed to happen around mid december. But then they changed there decision at the beginning of december and asked people to create an account for there new product "Blockcard" and airdrops will be sent there only. They didn't send any email to the participants of airdrop stating the same, only informed it on telegram group. Since airdrop was going to happen after 6 months, many people were not active on telegram and waiting to get it on there LOBSTR wallet. But when they didn't received any token in dec 2018, they asked about it on telegram and got a surprise that nothing can be happen now. They started banning the people who ask about missing the airdrop. Founders keep those unclaimed airdrop tokens for themselves.

5. They also have a referral program running and for each referral they're giving 50 TERN tokens. The rule was simple that people need to register on there website and that's it. No KYC required, no ICO investment needed, no condition of joining there telegram group either. After 10 months of referral program being ended, when people asked about referral tokens, one of the founder "Ian Kane" said that all the referrals had to go through KYC. I asked them personally many a times that why someone will do KYC after 10 months of initial registration, they've no reply of that. When many people started saying it's not fair and they have to come up with other solution, they started banning the people. Everybody knows that more than 90% of people are not going to do KYC after 10months and mos probable they would have forget about registering on ternio. So founders are keeping all these tokens for themselves.
Here's the link to the referral stats - http://stats.ternio.io which has been taken down now so no one can see there referral count. But few people have around 2k referrals and some have 1k+ referrals. While the site was up I calculated that around 6M referral tokens was supposed to be distributed. Now they are keeping 90% of them for themselves.

6. Biggest claim was that they've applied for patent on there technology. All the patents pending are easily searchable, I tried to search for Ternio on USA patents website but didn't find it. When asked about it on there group, they said we've made the patent request in such a way that it's not searchable. Again a statement which makes no sense to anyone. But yeah, you can't ask them, coz you'll get a ban for that.

Questions around there Fake Audit Report:

1. There auditor's website is nullbash.com (if you'll open it by going to www.nullbash.com, it won't open, it opens only when you remove www prefix). Anyone can understand from there website that if at all they exist, how fake they seems to be. There's no mention of there address on the website, no mention of them doing blockchain testing. And the big thing is you can try to contact them through contact-us page but they never replies. I've tried to contact them at least 5 times but no response from them in last 45 days. Few members have asked about how the ternio team/founders chose the Null Bash and how they contacted them for blockchain testing, there reply is they don't remember it now. Also one of my friend lives in Las Vegas and he personally checked the address "304 S Jones Blvd, Suite 2104, Las Vegas, NV, 89107" and it's a home address, not "Null Bash" company's.

2. Here's the link to there audit report - https://ternio.io/audit/ . There's no mention of data collected and which methods are used to verify that Ternio can cross 1M TPS. Just one line is written that auditor is confident of ternio exceeding 1M TPS. Anyone can read that report and see for themselves that it's not an authentic audit report. I highly doubt if they ever had an audit of there code.

Questions around there new product "Blockcard" and suspicious competition going on:

1. They've introduced a new product called "Blockcard", a physical crypto card approved by VISA. Investors need to send crypto and it automatically gets converted to TERN. So to happen this, cryptos like BTC/ETH/XLM needs to be sold and TERN needs to be bought, but if you ask them, they don't tell how it's happening or through which exchange they're doing this conversion, and they keep on saying that it's Magic. Many people have complained about getting lesser TERN's in respect of Crypto deposited, and asked them which exchange price they've used for conversion, but they don't entertain such queries and even then don't tell that which exchange rates are applied during conversion.

2. For the "Blockcard" mentioned above, Ternio is running a competition and will send the cards for free for top 100 TERN holders. Strangest thing is that this competition has No End Date. You can check that on there own medium article here - https://medium.com/@ternio/the-ternio-blockcard-has-arrived-1f3e33577600
Here's the exact sentence from there above article - "The top 100 accounts with the highest amount of crypto deposited in their BlockCard account will receive their BlockCards in phase 1. There is no set end date to when this contest will end, so users are encouraged to deposit the maximum amount they are comfortable with and will utilize on the BlockCard"

3. They've shared a video on telegram group that "Blockcard" being used in USA. I'll upload the video to youtube or any file sharing website and provide the link in some time. In video anyone can see that when they're handing over the card for the payment, they took the camera away and it's not visible if they gave the blockcard or some other card for payment. It's done very cleverly.

4. They're claiming that card has been approved by VISA, but in there all advertisement banners they've not showing VISA logo. When asked about it, they say that they chose not to show VISA logo. Who doesn't want to take benefit of getting approved by VISA? Why're they hiding it?

Questions around there advertisement of Amazon Partner Network:

1. They're advertising there Advanced tier status with Amazon Partner Network, which is just a gimmick of using the name of Amazon to get more people buying there TERN tokens. They're also claiming that there code has been checked by the "Amazon" itself, which is not true again, and not showing any proof of that too.

Final thoughts:
1. There are so many questions surrounding there promises made during ICO, especially being approved by 3 top 10 exchanges to list them. Clearly it has benefited them to raise funds and they've cheated there investors.
2. They are keeping all the unsold tokens during ICO which was supposed to be given to ICO participants for themselves.
3. They are keeping undistributed airdrop and referral tokens for themselves.
4. There so called pending patent is not searchable on USA pending patents website.
5. There audit report is fake and the company which have done the auditing doesn't exist. No Github presence, no code repository available for third party to check. No proof of there 1M TPS blockchain.
6. They're running a competition which has no end date. What kind of competition has no end date?
7. They're advertising there Amazon APN partnership (which you can get by paying yearly fees to Amazon) but chose not to advertise there VISA approved card. They're contradicting there own statements.
8. They're banning the people if asked a question 2-3 times to which they don't have any answer.

I'll update this post with some screenshots of there telegram group discussions and as a result of banning of the people who initiated them.

Thanks fir this awareness but i will suggest you if ternio has already created an official announcement and it may better for to create another one on the ternio thread and this will pay attention from a lot of users.