Red flags at Enigma ICO
Earlier today, Enigma published an article (https://medium.com/@EnigmaMPC/enigmas-token-sale-full-details-4d70c56510ba) which seemingly wanted to pioneer a new ICO process which includes a refund element to 'democratize participation'. While ensuring widespread distribution of tokens is a genuine benefit to enhance vibrancy of the ecosystem, founder's greed and attempts at money grabs are a huge red flag for Enigma's ICO.
In long article, Enigma sneakily inserted an additional line, hoping that prospective investors of Enigma would miss it when reading the convoluted ICO process.
Enigma made no attempts to justify the need for raising additional $15m for their project, and it is an obvious attempt at greed just because they can.
Earlier mistakes such as poor security measures which resulted in their website and slack channel being compromised, was forgiven quickly by investors. This time, the founders greed on the other hand, cannot be forgiven.
As a community, it is essential to avoid such ICOs, to ensure that we do not inadvertently encourage the wall street mentality into a budding blockchain ecosystem. Stay safe, and preserve your wealth.
This is a scam ico. The success of a project depends on the team and this team looks to be greedy and money grabbers. I will stay away. When there are dozens of other ICOs why get into a scam knowingly?
How can they change terms after taking money from presale participants? This is illegal.
ENIGMA HUGE RED FLAG. THIS TOR GUY OMG HE IS PISSING ME OF
Yeah i am whitelisted but noway in hell i will be participating if it stays like this
I dropped my whitelisting before this came out. Decided that $75 million was way too much to give to a startup. Half that, maybe, though that would still be on the high side. Now they want $90 million? That's a huge red flag. Glad I opted out.
I am white-listed, but now I am having second thoughts. https://twitter.com/WhalePanda/status/905137034750255104
Disclaimer: I am just a bot trying to be helpful.
Completely agree on this. We as a community has to push back otherwise we will be treated like shit. The back less is much required.