Stop spreading misleading information about eSports cryptocurrency token MobileGo, or risk facing legal action. That was the warning made last week by one Twitter user, who posted a message from MobileGo CEO Sergey Sholom.
According to the tweet, Sholom threatened to sue all “investors, journalists or anyone else that is critical about their dumbass idea or execution of said idea,” saying that “all the immature and ridiculous demands will be redirected toward our lawyers for appropriate response.”
The talks surrounding MobileGo started in July when Samad Sajanlal, a cryptocurrency and blockchain consultation who claimed to have done some work for the company, wrote a Medium post about MobileGo.
According to Sajanlal, the founders of MobileGo have been involved in several cryptocurrency projects and failed to make good on their promises. In 2016, Sholom and his brother, Maxim, allegedly approached GameCredits with a promise of “hundreds of thousands of users using the platform within the year,” among other things. The two, who at the time owned a company called Datcroft, also promised the GameCredits team that they will create an online store for where users can purchase games and in-game items using GameCredits.
The brothers took over GameCredits and became the CEO and project director of the company. In 2017, the brothers decided to launch their own ICO, MobileGo ($MGO), as a complimentary token to the GameCredits coin. Sajanlal explained that the GameCredits token was a gamer currency, while the MGO token was created as a token for wagering in eSports tournaments.
Before 2017 ended, the two brothers realized their ICO was not doing as good as they had anticipated and decided to launch GNation as a gaming brand to help their cryptocurrencies.
According to Sajanlal, “several members of upper management were forced out and new management was put into play,” including the company’s chief operations officer and chief technology officer.
Meanwhile, the company has yet to make good on their white paper’s promises. Sajanlal said in a meeting he attended with the team, he told those present that, “…by not fulfilling the white paper, is equivalent to ICO Fraud and opens the door for things like class action lawsuits and the SEC investigating.”
The company’s founder and then-CEO Ivan Dimov “dismisses the class action lawsuit, basically saying ‘good luck with the court system.’ and expresses that crypto is completely a scam and there’s no way anyone can be profitable with it,” according to Sajanlal.
In light of this information, talks that the MobileGo ICO was fraudulent began to circulate, resulting in the recent warning from MobileGo’s CEO. Despite the warning, people are still criticizing the company. One person even commented on Twitter stating that: “…the moment a project reaches for legal help to silence critics is the moment one can conclude that its either a scam or too incompetent to deliver any useable tech.”
Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
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