FirstCoin Club under police investigation, reports exchange
FirstCoin are set to have their FRST altcoin dumped from the LiveCoin exchange, following the revelation the company is under police investigation in “at least 2 countries”.
BehindMLM reviewed FirstCoin Club in mid-2017. Based on FirstCoin Club’s business model, we concluded it was little more than another Ponzi points altcoin launch coupled with pyramid recruitment.
According to LiveCoin’s February 16th press-release, FirstCoin Club’s FRST is being delisted due to
requests from police authorities from at least 2 countries at this moment and 1 open case.
As to specifics regarding the requests and confirmed investigation, LiveCoin state they’re ‘not authorized to disclose any details of requests or case‘.
A secondary reason provided is “reversed transactions”.
We’ll try to explain in plain. If you control the network of any coin, you can send a transaction to recipient (to Exchange, for example), wait for processing and crediting of this transaction and then make a fork to remove this transaction from blockchain.
Thus you double your money, because your account on Exchange still has this transaction.
FRST was 99.9% pre-mined, meaning what hasn’t been flogged off to FirstCoin Club affiliates are still held by the company’s anonymous owner(s).
The same individual or individuals control the FRST network, meaning they are likely behind the reverse transaction shenanigans.
After an initial Ponzi points pump to $16 in October, 2017, FRST has dumped to its current value of less than a dollar today.
According to CoinMarketCap, LiveCoin accounts for 38% of FRST trading. The YoBit exchange accounts for the remaining 62%.
Whether YoBit has also fielded enquiries from authorities regarding FirstCoin Club and FRST is unclear.
YASIR MIRZA LETS SEE HOW YOU WILL NOW SCAM DOWNLINE AND TELL THEM IS JUST A FAKE NEWS.
Live coin are following there policy as someone tried to send numerous transactions through and made a complaint to the police and until police investigate this matter livecoin will follow there policy.
however firstcoin if you seen yesterday webinar is in talks with other exchanges such as biaance and frankly best time to buy as it will go up reasons for price drop.
yes when people sell there coins price drops however people who cashed out on a profit will reinvest and fact only cryptocurrency which gives you free coins to as a interest on your investment also the whole market in bear market.
name me a coin which not lost valuve its just natural forces at play.
So LiveCoin aren’t disclosing the nature of police investigations into FirstCoin Club, but here you are pretending to know everything? Please.
Well of course they are. Dodgy altcoins have to downgrade to dodgy exchanges when they pull heat.
There’s no such thing as “natural forces” in a manipulated Ponzi points altcoin. There are only those scammed and those doing the scamming.
It’s pretty obvious which group you’re in.
I just want to share my personal experience, knowledge and research
I don’t want to knock other coins, but if you do your homework and research hundreds of other coins including ICOs including the whole crypto market, you are investing on pure trust and belief with no proven track record, if this is a problem for you then DON’T INVEST IN ANY CRYPTOCOIN.
In any type of business online or offline their are always uncertainties and risks, is anything ever guaranteed?
FirstCoin is just like any other coin, Ozedit: No it isn’t, it launched as Ponzi points. Marketing BS removed.)
^^ Stop making excuses for Ponzi scammers.
And if you want to talk about cryptocurrency in general (legit or otherwise), do it elsewhere. This isn’t a platform for you to regurgitate cliched sales pitches.
obviously you did not expect such a reply just like to give it out but cant accept it when it comes back.
If this platform is open and genuine it should be open to all view points at no point i have made a personnel attack on you let the visitors to the site decide.
We both can present are arguments and view points let the people decide thats fair enough?
No I expect marketing spam, we get it all the time. I’d actually edited out most of your reply but you must have edited yourself and that reverted the comment.
Let me fix that for you again.
As for “arguments and viewpoints”, feel free to provide evidence of external ROI revenue used to pay affiliates. Otherwise leave the irrelevant marketing BS on Facebook, kthx.
(Ozedit: Feel free to provide evidence of FirstCoin Club’s external ROI revenue. Offtopic derail attempts removed.)
Marking anything from you that’s not evidence of external ROI revenue as spam. Thankyou, come again.
Many people report FIRST COIN TO POLICE!
FIRST COIN CLUB IS SCAM!! ACCEPT THE TRUTH!!
ALOT OF PEOPLE LOSE MONEY NOW!
This guy Shahid is still shilling this coin hard. Anyone with common sense would now see that this coin is a scam, even if they’ve been trying to convince theirselves so far that it wasn’t.
What’s interesting is in one of his youtube comments he actually states that he is close to one of the main guys at Firstcin management, namely Peter Sage, a pro bullshitter.
He also states in his youtube comments: ‘Behind mlm is a site that hates all mlm firstcoin uses the mlm method as a form of growth and I known some leaders personally and that not the case’.
I wonder when Yobit is going to distance theirselves from this scamcoin also..
Doesn’t surprise me. The only people who defend Ponzi schemes are those who have invested in them.
I was new in crypto currrency world when I invested nearly £1200 in firstcoin back in October.
But few weeks of research I discovered that firstcoin a scam and the people that run it are scammers and my coin are blocked for six months.
Firstcoin price went down from $16 to $7 again down $3 and $1 they said is the best to buy and I asked what about people that bought at $16, $15 $13.
$11 to 64 cents over the past month. #RIP
But $11 to $0.64 is still just 17-fold decrease.
Bitconnect went from over $300 USD to less than $7 USD (43-fold decrease) IN LESS THAN 24 HOURS when the Ponzi collapsed.
(Currently it’s traded at $3 USD with volumes that are equally 1/60th of the heydays.)
coinmarketcap.com/currencies/bitconnect/#charts
Malik Atif Hayat took my cash in January and told me now this is the best time to buy FirsrCoin.
I gave him Cash ans he sent me Firstcoins! Now is 0.10$
I lost all my money! When other people was saying that FirstCoin is crashing, he told me “dont’t worry brother, i have strong relation with the owners, The price will go up!”
I want my money back! Thank bastard don’t answer to my phone now, HE IS HIDING!!!
YASI INRAHIM! MALIK ATIF HAYAT SCAM MORE PEOPLE!
HE TOOK ALOT OF MONEY FROM MANY PEOPLE IN CASH.
WOW POPOVIC VLADIMIR DIAMOND FROM FIRST COIN LAUNCHED HIS OWN COIN MLM!!! PLANET!!
First coin is DEAD OFFICIALLY!! ALL LEADERS LEFT
Now they gone to ORMEUS.
WARNING
Firstcoin ex-leaders founded the JAAG Coin: jaagcoin.org/#team
Szekely Andras participated other SCAM, name Kairos.
Other leaders, ex-marketing director Molnar Gergely David and Istvan Seres founded the Now Coin Game: nowcoingame.com/. Whiet paper: nowcoingame.com/NowCoin-White-Paper.pdf
Istvan Seres participated in the Corion Coin, which has fallen. coinmarketcap.com/currencies/corion/
Istvan Seres and Pereszteghi Nagy Gyorgy (Firstcoin founder) was the owner/director the COIN MARKETING LTD. beta.companieshouse.gov.uk/company/10944148/officers
Thanks for the heads up.
JAAG Coin = FirstCoin reload scam
That’s from JAAG Coin Founder and CEO Ghefari Dulapandan, who invested in FirstCoin in late 2017 and lost money when it collapsed.
OneCoin scammer Yasir Mirza also makes an appearance as an “advisor”.
JAAG Coin looks to be another pointless shitcoin with the usual Ponzi components added later this year:
Couldn’t see an MLM comp plan in the whitepaper though, so no review based on what’s currently known.
After 1 month and 20 days JAAG COIN allready colapsed!
– 84.3%
PUMP AND DUMP AGAIN! TO 1.43$ AND NOW 0.19$ SCAMMERS WILL ALLWAYS BE SCAMMERS!
IM SHURE THAT THEY WILL TELL TO THE PEOPLE THAT THEY WAS HACKED
HOW IS POSIBLE SOME PEOPLE TO GO IN THE SAME TRAP CREATED BY THIS FIRSTCOIN SCAMMERS?
Jaag Coin Price $0.197395
Jaag Coin Price in BTC Ƀ0.00002611
Market Cap $0.00
Trading Volume $14,494.66
24h Low / 24h High $0.196822 / $0.681755
All-Time High $1.47
Since All-Time High
-86.6%
All-Time High Date 2018-07-31 (3 days)
24 Hours
-54.5%
7 Days
-82.4%
14 Days
-84.3%
The same
Owners from Firstcoin
guys i invest few hundred $ in this bloody scam now i can’t even find the website to login my account to see what happened with them.
anybody can tell me they are working on it or everything is finished here!
You invested in a Ponzi scheme and your money is long gone. Sorry for your loss.
After so many months, now we know the FIRSTCOIN truth and the real owners.The project started in Hungary and all of them are hungarian.
Gabor Kisbenedek CEO/CO-OWNER
Josip Bosnic CEO from August 2017
Gyorgy Peresztegi-Nagy CO-OWNER
Bella Kisbenedek CO-OWNER
Daniel Kormendi – IT Developer / CO-OWNER
David Molnar Gergely – SUPPORT AND MARKETING.
The project had a second Mangement team lead by the same CEO together with Ghefari Dulapandan( UK based)
Josip Bosnic CEO
Ghefari Dulapandan CIO
Andras Sz. CTO
Mr. Adrian Maximilian Necsoiu CMO
The second management team took over the Firstcoin management with a hidden agenda, to destroy the project and to create they-re own project by using Firstcoin founds and members database, and after 3 months they created JAAGCOIN and announced that FirstCoin is dead.
After a few months of collecting money in JaagCoin, they took all the money and disappear.
All the other people was just members who just joined the oportunity.
Some of them recruited and no doubt made a handsome profit.