Watch out for ICO scams!

don't trust this ico scam

We received reports that a website is using our trademark, brand name and our management and colleagues’ profiles with their current initial coin offering for the creation of a decentralized VPN powered by block-chain.

They call themselves the Vibranium Network and their website is as suspicious as you’d expect.

Robert Knapp, CyberGhost co-founder, warns:

Word of advice: don’t fall for it!

This website is a scam and there is no affiliation between our Company and Vibranium Network or their ICO. We are aware that attempts have been made to defraud our clients and members of our community by this means. Please take note Cyberghost S.A. is NOT related to this ICO and their reference to our brand-name, trademark and employees is an attempt to defraud you.

Later edit [April 20, 2018]:

The website has been taken down and so has their Telegram channel. This is a clear indication of the fact that this was a scam. We hope no one got defrauded in the meanwhile. If you see any other scams like these, we recommend you report them, so they can be shut down before they do any damage.

We can’t help but worry how Internet users are getting ripped off online nowadays.

Forget about the Nigerian prince scam, ICOs are all the rage with so-called entrepreneurs these days. They’ll do almost anything to persuade you into transferring them untraceable money into their wallets.

Some will go as far as posing as seemingly legitimate businessmen, attending events and pitching their product in trusted circles. The point is to fake it so well that they’ll make it.

Here’s a recent example of an ICO exit scam where the founder took off after he raised almost $50 million. [Later edit: as it turns out, the founder was just trying to send a message about… ICO scams. Did it work? Watch the video and decide for yourself.]

Obviously, the Vibranium Network hasn’t gone that far but we still hope no one had fallen for their con.

Other scammers just wanna have fun at the expense of less knowledgeable internet users. Here’s a headline for you:

ICO Exit Scams after Listing Ryan Gosling as Graphic Designer

Malicious actors, from scammers to hackers, have always taken advantage of Internet users who are not entirely familiar with the latest tech, terms, and trends.

ICOs and cryptocurrencies are new concepts and they’re not easy to understand. That’s why scammers wrap up their cons in the “get rich fast” mirage that some just can’t resist.

Unfortunately, this kind of scams, which are increasingly frequent, create distrust and discredit legitimate ICOs backed by hardworking people.

If you’re interested in investing in ICOs, please pay attention to the red flags. Research them thoroughly. Don’t jump into the boat without a second thought.

We’ll most likely follow up with a dedicated guide on this soon, so stick around!

About the author

Andra Zaharia
Andra Zaharia

Andra lives by one simple rule: practice what you preach.

She’s dedicated to helping people realize the importance of data privacy and security and act on it.

As a ghostie, Andra works to make things simpler and more effective when it comes to all things content and PR. Her go-to approach is transparent and value-driven communication.

Plus, she’s a huge book geek and an even bigger cat lover.

One Comment

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  • Has anyone been scammed by companies like btcmt4? I was in February 2017 and then another pingpipe company in June 2018, both companies under the same way of operating each scam: Selling hosting / mt4 systems and after that request a one month advance payment, when it is done the payment they cancel the hosting or the system stops working, no matter how many complaints are made and that they try to contact them, they do not give answers. I received information that all these scams are being carried out by a Frenchman named Philippe Ballesio, together with his wife Rosaline Ballesio.

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