Hundreds and if not thousands of token investors are counting their losses as Benebit, an initial coin offering has turned out to be an outright scam.
Owners of the scam have immediately taken to their heels making away with at least $2.4 million and perhaps up to 4 million, according to analysts estimates.
The chicken came home to roost after someone who researched into the pedigree of the people behind Benebit project was phoney individuals who are using stolen pictures from a British boys’ school website.
It is now clear that Benebit was a well carried out scam. The website, social media accounts and all eletronic content used officially sell the ICO have now dissapeared from the Internet.
Very typical of most online investment scams, but their gimmicks were bought over by many people who are now victims because virtually all the people on the team of Benebit were very much active on social media and the project actually invested at least $500,000 into digital marketing campaigns.
Perhaps unknowing to many ICO review sites, the scam was well orchestrated that it was given a positive rating across various review sites.
In its bogus ICO marketing message, Benebit scammers claimed it is:
“A global decentralized ecosystem that enables interaction without borders between brands, companies and consumers and is built on Blockchain technology. Benebit is a disruptive network for the cashback and loyalty market based on blockchain technology.”
That is now history, Benebit is now rated as a scam by ICOdrops, a respected review site in the industry. The identity of the criminals that perpetrated the scam is now gone with the wind.
It is also not really the faults of review sites to have not verified the identity of the backers of Benebit. A simple advice to many people is to think twice before they stake any money into ICOs that are virtually scams.