A Chinese citizen who filed a lawsuit against crypto company Stox (listed as STX Technologies Ltd.) and Israeli blockchain entrepreneur Moshe Hogeg alleging fraud has decided to withdraw the suit following a mediation process, according to documents filed to the Tel Aviv district court Thursday and reviewed by Calcalist. As part of the mediation agreement, Hogeg agreed to pay the plaintiff, Zhewen Hu, $50,000 to cover trial costs.



Anyone want to try it out, buy a $1,000 STX, and then sue him, it is possible to get $50,000, or you can help me to prosecute. If you succeed, you can get 20% compensation... Israeli friends can try it...

New Lawsuit Alleges Crypto Entrepreneur Moshe Hogeg Misled Investors
A lawsuit filed in Tel Aviv Wednesday by two U.S.-based business men names Israeli blockchain entrepreneur Moshe Hogeg as a defendant

Israeli blockchain entrepreneur Moshe Hogeg is accused of misleading investors in a new NIS 6 million (approximately $1.7 million) lawsuit filed Wednesday to the Tel Aviv district court. The lawsuit, filed in the name of U.S. businessmen Baruch Friedman and Moshe Mermelstein, claims that Hogeg has provided fraudulent and misleading information that encouraged the plaintiffs to invest large sums of money in his now-defunct company, Mobli (incorporated as Moblli technologies 2010 Ltd.).
 

Some of the false information presented by Hogeg pertained to large commitments the company has received from billionaire Carlos Slim and Hollywood actor Leonardo DiCaprio. The money was intended to finance the development of a new app, Hogeg allegedly told the plaintiffs. According to the lawsuit, the commitments were ?significantly lower than advertised? and in some cases, nonexistent. Hogeg also allegedly told investors the company was preparing for a Nasdaq initial public offering. If it hadn?t been for the falsified commitments and the empty promise of an upcoming IPO, the plaintiffs would not have invested in the company, the suit claimed.
Moshe Hogeg. Photo: Orel Cohen Moshe Hogeg. Photo: Orel Cohen
Mobeli, which was co-founded by Hogeg in 2010, attempted to develop a photo and video sharing app and employed over 70 people in its prime. It shut down operations in 2016, not before raising $86 million in funding.
 

In response to Calcalist?s request for comment, a spokesperson for Hogeg?s venture capital firm Singulariteam Ltd. said that Hogeg has yet to receive the complaint, and has learned about it through media inquiries. ?This is a company that was shut down years ago,? the spokesperson said.
 

Hogeg is the co-founder of cryptocurrency smartphone company Sirin Labs and the chairman of LeadCoin, a blockchain-based decentralized lead-sharing network. He is also the owner of Gibraltar-registered crypto company STX Technologies Ltd., also known as Stox, and of the Beitar Jerusalem Football Club, which he bought in August 2018 for approximately $7 million (NIS 26.5 million).

Earlier this year, Chinese citizen Zhewen Hu filed a NIS 17 million (then approximately $4.6 million) lawsuit against Hogeg in Tel Aviv, accusing him of fraud. The lawsuit alleged that Hogeg gave money received from the buyers of Stox crypto coin to himself and other companies he was involved with.

 

According to the complaint, Stox raised $34 million in an initial coin offering of its namesake digital coin in August 2017, which Hogeg allegedly pocketed or used to float other businesses linked to him, thus violating his commitments to investors. The lawsuit was dropped in May following a mediation process.

Stox Investor Drops Fraud Lawsuit Against Crypto Entrepreneur Moshe Hogeg
A lawsuit filed in Tel Aviv in January alleged crypto company Stox and Israeli entrepreneur Moshe Hogeg stripped investors of their money


Stox Investor Drops Fraud Lawsuit Against Crypto Entrepreneur Moshe Hogeg
A lawsuit filed in Tel Aviv in January alleged crypto company Stox and Israeli entrepreneur Moshe Hogeg stripped investors of their money
Hagar Ravet14:31
TAGS: Moshe Hogeg Legal Blockchain Crypto Stox
A Chinese citizen who filed a lawsuit against crypto company Stox (listed as STX Technologies Ltd.) and Israeli blockchain entrepreneur Moshe Hogeg alleging fraud has decided to withdraw the suit following a mediation process, according to documents filed to the Tel Aviv district court Thursday and reviewed by Calcalist. As part of the mediation agreement, Hogeg agreed to pay the plaintiff, Zhewen Hu, $50,000 to cover trial costs.

The NIS 17 million (approximately $4.7 million) lawsuit, filed in Tel Aviv in January, alleged that Hogeg gave money gotten from the buyers of a crypto-coin called Stox to himself and other companies he was involved with. The plaintiff alleged that Stox, which is registered in Gibraltar, is fully owned by Hogeg and operated from his office in the greater Tel Aviv metropolitan area.


Stox Investor Drops Fraud Lawsuit Against Crypto Entrepreneur Moshe Hogeg
A lawsuit filed in Tel Aviv in January alleged crypto company Stox and Israeli entrepreneur Moshe Hogeg stripped investors of their money
Hagar Ravet14:31
TAGS: Moshe Hogeg Legal Blockchain Crypto Stox
A Chinese citizen who filed a lawsuit against crypto company Stox (listed as STX Technologies Ltd.) and Israeli blockchain entrepreneur Moshe Hogeg alleging fraud has decided to withdraw the suit following a mediation process, according to documents filed to the Tel Aviv district court Thursday and reviewed by Calcalist. As part of the mediation agreement, Hogeg agreed to pay the plaintiff, Zhewen Hu, $50,000 to cover trial costs.


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The NIS 17 million (approximately $4.7 million) lawsuit, filed in Tel Aviv in January, alleged that Hogeg gave money gotten from the buyers of a crypto-coin called Stox to himself and other companies he was involved with. The plaintiff alleged that Stox, which is registered in Gibraltar, is fully owned by Hogeg and operated from his office in the greater Tel Aviv metropolitan area.

 

Moshe Hogeg. Photo: Orel Cohen Moshe Hogeg. Photo: Orel Cohen
Founded in 2013 as a subsidiary of Invest.com, Stox raised $34 million in an ICO of its namesake digital coin in August 2017. The Plaintiff alleged Hogeg “emptied the company of all of the proceeds of the ICO,” either pocketing the funds or using them to float other businesses linked to him. In doing so, the plaintiff said, Hogeg violated a long list of commitments he made to his investors, as specified in the Stox White Paper.

 

Hogeg is the co-founder of cryptocurrency smartphone company Sirin Labs and the chairman of LeadCoin, a blockchain-based decentralized lead-sharing network.

i think this good news you are talking did not affect the price of bankex as a matter of fact.
i think we better need other than a good news but a great and big news for it to affect the price.

And it was falling all the time since ICO. Why token's behavior is so weak if the project is so promising?

yes, i have the same doubt as you, why people sell at this low case even they lose so much money,  or the selling coins is got at no price ? where are these coins come from ?

Unfortunately I bought their tokens a long time ago. And my investments was disappear. And I don't see any developments of their platform. So what should I think?   

Selina Borer 点评了 BANKEX — 1 分
2017年12月29日 ·
Cheaters! My huge recommend is not to buy this token / coin!



Mohd Toha Abdullah 点评了 BANKEX — 1 分
2018年1月28日 ·
You the unscrupulous ico team so much money exchange delays, we have combined global players rights issue you the unscrupulous cheating team, strongly condemn you condemn you




Sai Dashi 点评了 BANKEX — 1 分
2018年4月6日 ·
You have 3 ways to save bkx prices:
1. Lock in the remaining unallocated non-selling bkx tokens. Know that by 2020, because your project is too long the same as wave market TRON, too much uncertainty, you have confidence that investors can have confidence. The wave market TRON never fell below the issue price in dollar terms, but fell against bitcoin, wave field TRON the wave field TRON is very responsible for locking 30% of the TRON held by the team.Tron has skyrocketed by 20 times since Dec 19, 2017.
2. Announce the eth usage and eth address you raised for the investor to monitor. If you divide the eth then bkx will be worthless.
3. Take out a $5 million repurchase in the secondary market, you can buy back 20 million bkx at the current price, which can be used as a team incentive in the future, and at the same time lock in accordance with the first unallocated non-sale bkx by 2020 Use. You are always very proud of what your colleague Ripple is, then you should learn how Ripple locks a large amount of tokens held by the team for the benefit of investors. Tron was founded by a former Ripple employee and also learned that Ripple holds a lock on the team. A large number of tokens, Ripple and Tron now rose the most, because the team most in line with the interests of the most investor interests. {{
{Because of the high recognition of the wave network TRON network's prospects and the further protection of the vital interests of TRON supporters in the wave field, the rapid development of the TRON global network in the wave field and the growing community has been promoted. The Tron operator of the wave field operator Tron Foundation hereby declares: The 34.2518% TRX owned by the Tron Foundation, ie, 34251807523.9 TRXs, will be fully locked before January 1, 2020, and cannot be withdrawn or traded. The account address is: 0xa18ff761a52ce1cb71ab9a19bf4e4b707b388b83
"wave field TRON" statement on Tron Foundation holding TRX
In the meantime, the TRON mainline of the wave field will be launched. The Tron Foundation will announce the address of the main chain at the first time. Welcome to TRON's supporters and believers. Tron Foundation December 19, 2017}}}



Antanas Baranauskas 点评了 BANKEX — 1 分
2018年2月7日 ·
No listing on exchanges and failed promises ONLY. Idiot telegram admin does not allow to talk on telegram group about coin price, no discussion - about anything, so for that this channel need + filtering words that you are typing??
WORST COIN EVER!




이재흥 点评了 BANKEX — 1 分
2018年2月28日 ·
They sold out the locked token.It seems to be an idiot enough to know the meaning of the lock. Bankex always lie. A team without trust, faith, and morality. Regret investment. Keep in mind. Avoid Russia ico. They can be technically superior. But it is not moral.

BKX  When is zeroing?

Los Angeles Ballet filed suit against MovieCoin on Thursday, accusing the film finance startup of trying to pay a $200,000 pledge in worthless tokens.

MovieCoin was founded in 2017 by producer Christopher Woodrow, the former CEO of Worldview Entertainment and Vendian Entertainment. The company offered the chance to invest in films using a blockchain-based token.

According to the lawsuit, a MovieCoin representative, Igor Khmel, attended the ballet company’s annual gala in February 2018 and agreed to donate $200,000. In September 2018, Woodrow signed a gift agreement, in which MovieCoin agreed to give $200,000 either in cash or the equivalent value in MovieCoin tokens. In return, MovieCoin would be listed as the official sponsor of Los Angeles Ballet’s arts and education programs.

The suit alleges that MovieCoin agreed to provide the tokens in late December 2018, “but concurrently advised that the MovieCoin Tokens were useless and any attempt to dispose or otherwise sell them would be futile as there was no market to facilitate same.”

“LAB declined to incur the expense necessary to establish a ‘wallet’ in light of the worthlessness of the proposed content,” the suit alleges.

The suit states that MovieCoin has been repeatedly asked to provide the gift in a monetizable form, and has refused to do so.

MovieCoin made a number of announcements in 2018, and attracted some news coverage. In November, the company called off a public sale of tokens due to “overwhelming interest during the company’s private pre-sale.” The company has not made announcements since then, and its PR firm, Prosek Partners, said it is no longer working with the company.

A company representative told Variety on Thursday that the company is “reorganizing.” In a statement, the representative blamed the ballet dispute on Khmel, who is said to no longer be involved with the company.

“The pledge was made by a former principal at MovieCoin Holdings Inc. who is no longer with the company. When MovieCoin parted ways with the individual, he declined to honor the pledge. The company is currently in the process of reorganization and therefore an offer to transfer the pledge to a new entity was proposed but the LA Ballet flatly declined. It’s an unfortunate situation for everyone, and although initially rejected by the LA Ballet, the offer to make a donation through a surviving entity still stands.”

The suit seeks the $200,000 gift, plus $1 million in incidental damages, plus interest.


https://variety.com/2019/biz/news/moviecoin-ballet-worthless-tokens-1203198171/

How can the token price of a project that won Ethereum Hackathon dropped by 99% from its ICO price?

As Bankex foundation won the ETH Hackathon last year and promoted themselves as “the first plasma protocol implement case”, many investors think this is a solid ICO to invest on. However, many issues happened during and after the token sales of Bankex, making many investors lost their confidence. In this article, we will discuss many, but not all, mistakes made by Bankex foundation, showing that even though a team have solid technology foundation, the market would not favor them if they are not trustworthy and have bad public relationship to its community.

1. Abnormally long public sales period

The Bankex ICO began on November 28 and ends on December 28. At the meantime, the ETH price increased from 472.9 to 737.02, which is nearly 55% increases in USD value. Thanks to that, in the first two weeks, the team nearly received enough USD for the project already, but instead of ending the token sales quickly, they did nothing and only end the token sales 2 days earlier. Thus, they received $70,600,000 USD, which exceed their USD cap by 150% while many token were not sold.

2. 5 exchanges promise

During token sales, many admins in Bankex Chinese telegram group mentioned about the token would be listed on 5 exchanges soon after the token sales ended. After the token sales, this information spread to English telegram group as well. In the first week of January, this statement altered and changed into “BKX token would be listed in January. We have committed five exchanges.”

This kind of statement mislead investors during the token sales, many of them thought they could sell their token in few weeks and underestimated their time costs in participated Bankex ICO

On 28 January 10:22 am UTC +8, in Bankex telegram group, the admins there will be “good news regarding the listing information” in 2 hours. And when the time came, they announced that there would be a Facebook live on 9:30 pm UTC +8 where Bankex Managing Director Constantine Kurbatoff would provide “exchanges information”.

While the way of “announcing an announcement” received many negative attitude, many investors were expecting Bankex team would provide the information about what 5 exchanges would Bankex get listed on.

However, in the live, Kurbatoff stated “the team has filed everything in December, and now is up to the exchanges to decide the listing.” The truth is, the team only sent documents to exchanges, without any conformation from exchanges, they told their investors “committed five exchanges” and would “definitely listed in January”. The team redefined committed, definitely and January. This is definitely a false promise.

3. Announced first but fail to get shortlisted in Binance voting competition

On 8 February, Bankex team tweets this:
Again, the team announced too soon before having any confirmation from counterpart, making them look like a joke when the truth revealed.

4. Listed on OKEX, circulation supply and advisor token problem

Information about Bankex on OKEX
On 26 February, the team stated that the coin would be listed on OKEX tomorrow (27 February). And people discovered that the circulation supply of Bankex token is 120m according to OKEX information, while the token sales only released 80m token, and telegram group admins kept telling the community the circulation supply was 62.2m. Bankex team accused that is the fault of OKEX.

When the trading started, the price of token pumped to 0.002599 ETH then dump to as low as 0.00088 ETH, which is normal price action for many ICO.

However, with the crash in token prices, investors tried to find the reason behind the reason of the crash, and some of them realized an advisor, whose token should be locked for a year, transferred his/her token on OKEX exchange without any announcement.

TxHash: https://etherscan.io/tx/0x26e346aa8336ab004e12dcda4a24cae72e5597acb3c44e25c42d37bb7afd8102

https://etherscan.io/tx/0x315f12f1db61306e9a607d07bc452b154182db8ac02a81f708e05a9edff2a2b7

This create panic to many investors and they tried to find a proper reply from the team, so the problem raised in Bankex telegram group. Instead of having proper response instantly, the telegram admins ban everyone who raised the advisor token issues. On next day, they claimed that the advisor didn’t sold any of the token, but they didn’t provide any proper reason regarding the transfer of token.

Only after a week, in an article “How to get listed on exchange” written by Bankex COO Dima Dolgov said the advisor transfer his/her token for testing, but the best time to response the doubt has gone.

In conclusion, the team keep repeating their mistake and always fail to response to community in time, leading many doubts among investors. So, this is reasonable for the price to dropped by 67%. While many of solid projects are underdeveloped by Bankex team, including App coin, Media coin, Movie coin, that’s a shame to have this kind of bad public image after all these mistakes. Bankex team is definitely a bad example to all the solid projects to the ICO spaces, and let’s hope similar silly mistakes would not be made in other projects as well.



https://medium.com/@jordanwong_70450/how-to-make-a-shitty-ico-even-if-you-win-ethereum-hackathon-using-bankex-as-example-968de0b8475b