I met the CEO of Ubex at the International Blockchain Conference. I was almost pissed off, at the way they were selling. I was at a loss to understand what they were trying to do.

Met an acquaintance on Day 2 who said they were going to release the tokens in 5 days, so he purchased immediately. I was so unhappy.

In 5 days, they met their Hardcap and then decided to increase it. In this scenario where ICOs are not getting funded, there is this ICO which increases the hardcap.

Joke.

Of course, they probably unlocked a few thousand coins so that they can show that it is trading at 5-6x. Idex and Bitforex should immediately stop trading.

Feel sorry for the people who have invested - I mean this looks a legit scam. Nothing an ICO holder can do, I guess. Noobs getting rekted.

Regards,
Tejas

How much funds are required. They got 50K ETH, they are getting more from sandbox (will not disclose how much) and then they will raise funds from public, not sure how much, but assume another 50K - 70K ETH. Thus they would have collected 120-130K ETH for less than 10% of total token supply. The remaining tokens will be released over future years. The team seems to be too greedy, though they may be competent.

I am avoiding investing unless the team is fully transparent on how tokens will be released after Year 1.