BTSE CEO defends exchange scam citing a previous scam
BTSE have been widely called out for operating a scheme to pass their exchange off as a licensed and regulated, and hugely popular cryptocurrency and derivatives exchange by making deceptive claims. You can read about it here.
In defense, Jonathan Leong CEO of BTSE went on the offensive taking to Whaleclub’s Telegram channel to warn he will sue anyone who calls them out.
Then came a bizarre flex – he justified their Commercial Brokers license by citing a Coindesk article from 2014 that announced IGOT.com as “UAE’s First Bitcoin Exchange Launches in Dubai”. Do these guys ever bother to check anything before opening their mouths?
This was then repeated on his Twitter a couple of days later (archive link):
The problem is IGOT was a monumental scam. A super quick search of the Dubai business license registry fails to show any licenses were issued for a company called IGOT and as this search also shows old and expired licenses if they existed before.
It appears to be a bizarre coincidence how both IGOT and BTSE both arrived at the same deceptive scheme to pass off a Commercial Brokers business license as a cryptocurrency exchange license which was talked about in the previous article here.
20 seconds with Google reveal a sordid story of the IGOT scam. Here is a small selection:
IGOT eventually closed down:
Lastly, threatening the cryptocurrency community for exercising their “don’t trust, verify” mantra is the clearest sign that something is remiss as /biz/ was quick to point out:
If BTSE’s defense is IGOT, then have I got news for you…
Published at Sun, 29 Dec 2019 03:24:29 +0000
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