The next Bitconnect is here, Unicoin – make sure to avoid this celebrity promoted scam
3 min read
So as I was searching the interwebs for crypto news I came upon this crypto token called Unicoin, promising incredible growth with dividends paid out yearly.
So Unicoin is a crypto currency that promises to be backed by investments in companies that will eventually become Unicorns (worth one billion dollars). The main company behind it is called Transparent Business, a company that offers some sort of remote work solutions started by a former Russian oligarch Alex Konanykhin and Silvina Moschini. Transparent Solutions started a YouTube show called Unicorn Hunters (shark tank type show) and from that show launched Unicoin.
Unicoin offers inherent value instead of perceived value through equity positions in the high-growth companies that are part of the Unicorn Hunters platform.”
They claim to have already sold over 200 million in Unicoin.
It promises to be better than bitcoin, with low volatility and massive media deals.
Red Flag #1 – They are promising massive gains on your investment.
The Unicoin coin derives it’s value by developing a diversified portfolio of equity positions in numerous companies.
from what I understood reading through multiple sources is that Unicoin itself will be given to these companies in return for shares, holders of Unicoin would then get dividends paid out to them from these companies. The value of the dividends would somehow have to be higher than what the sale of the Unicoins given to the company causes.
100X profit projected in three years
These are the six current companies in the Unicoin portfolio, the highest valued one being the Unicorn Hunters show itself (value here is questionable, 130K subscribers)
The other five companies are all private with a valuations somewhere below 10 million
Red Flag #2 – They’ve got celebrities to promote the coin – classic Ponzi scheme tactic
Apple fan boys will probably invest because of this guy
I guess they are going after the old NSYNC fans
Russ Fucking Hanneman – Tres Commas tequila????
other celebs are featured on their website but seems to just be investors that will get scammed like the others, these three are actually promoting the coin and participating on the Unicorn Hunters show.
Red Flag #3 – Read the fine print
By using this website, you acknowledge that the entire amount of any investment you make may be lost and that you are in a financial condition to bear that loss. You know that it may take years to receive a return on your investment, if ever. You understand that your percentage ownership in any Issuer may be diluted.
You can’t do anything about it if you lose your investment
By accessing and using the website and content, you agree to indemnify, defend and hold harmless Unicorn Hunters, TransparentBusiness and Unicorns, Inc. (specifically including each of their officers, directors, owners, partners, employees, advisors, counsel and agents) (collectively, the “Indemnified Parties”) from and against any and all claims, losses, costs and expenses (including attorneys’ fees) arising out of or relating to (a) any breach (or claim, that if true, would be a breach) by you of these Terms and (b) your use of or activities in connection with the website and any potential investment by you. We reserve the right, at our own expense, to assume the exclusive defense and control of any matter otherwise subject to indemnification by you.
With some recognizable people promoting it and multiple articles on Forbes and other crypto news sites it could be easy to get caught up in this scam if you’re not careful.
Probably best to stay far away from this scam and warn others to do the same.
This is Financial advice
submitted by /u/Odlavso
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