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    Author Topic: [PUMP AND DUMP] Signatum is just another clonecoin scam targeting naive noobs  (Read 14914 times)
    cryptodevil (OP)
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    September 22, 2017, 08:00:38 AM
    Last edit: October 26, 2017, 10:10:19 AM by cryptodevil
     #1

    Who does this scam accusation concern?

    The 'SIGT' Signatum coin project.
    Updated: The new moderated thread for the scam 'reboot'

    Why is it considered a scam?

    Because it bears all the usual hallmarks of every other shitcoin pump and dump operation that has gone before, from forum accounts routinely posting false claims of 'insider news' about major industry interest, to insanely high trading volumes on YoBit exchange which are abnormal for a coin lacking in any useful tech or innovation.
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    It was launched in July off the back of claimed technical innovation:
    Quote


    But the only feature it apparently has is a supposedly 'ASIC resistant' algorithm which, as any person knowledgeable in cryptocurrency would know, is only relevant for coins which are pure Proof-of-Work (PoW) based. This coin, however, has but a 100-day period of PoW before it is due to switch to Proof-of-Stake (PoS), which means the entire basis for its claims towards innovation are utterly irrelevant.

    Its 'whitepaper' is devoid of anything of substance, bar for the repeated reference to said 'ASIC resistant' algorithm and is, clearly, merely designed to fool those new to this field into believing it to be a coin with technical and potential value.

    In its OP it also attempts to claim that a 'user' (not a 'team member') has written an article on it, in an attempt to imply again industry interest which doesn't exist. That 'user', however, and their website, is simply just another layer of the fraud:
    Very detailed info about Signatum & mining written by user Dan Jensen
    Link: http://cryptovore.com/2017/07/19/how-to-mine-signatum-sigt

    WhoIs: Cryptovore.com
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    Domain Name: CRYPTOVORE.COM
    Registry Domain ID: 2131504319_DOMAIN_COM-VRSN
    Registrar WHOIS Server: whois.publicdomainregistry.com
    Registrar URL: www.publicdomainregistry.com
    Updated Date: 2017-06-07T09:00:01Z
    Creation Date: 2017-06-07T08:59:59Z
    Registrar Registration Expiration Date: 2018-06-07T08:59:59Z
    Registrar: PDR Ltd. d/b/a PublicDomainRegistry.com
    Registrar IANA ID: 303
    Domain Status: clientTransferProhibited https://icann.org/epp#clientTransferProhibited
    Registry Registrant ID: Not Available From Registry
    Registrant Name: Domain Admin
    Registrant Organization: Privacy Protect, LLC (PrivacyProtect.org)

    So a private domain sets up a blog only a few weeks before this shitcoin launches and advises how to mine this coin as well as posting 'exploratory' analysis of just why this coin is totes legit and should be mined/bought:
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    Don't forget to note how this is from a 'user', right?
    Very detailed info about Signatum & mining written by user Dan Jensen

    But of course it is actually from one of the 'dev team' as nobody outside of scammers and noobs would give this bullshit 'innovative' coin a passing glance
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    Its ANN thread Is currently being swamped by scammer sock-puppet accounts attempting to bury this information exposing it as an obvious pump-and-dump scam, which of course simply serves to prove it is not a legitimate project.

    Avoid at all costs and, more importantly, learn to spot the signs of these scams, they aren't exactly subtle but newbie FOMO and inexperience means that these scumbags are often able to fool many into parting with their bitcoin to buy or mine-and-hold these useless coins.


    WARNING!!! Check your forum URLs carefully and avoid links to phishing sites like 'thebitcointalk' 'bitcointalk.to' and 'BitcointaLLk'
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