2017 and 2018 were ICO boom years, unfortunately, a good number of them were scams.
ICO is a good way to reify a business concept. This is why it is becoming very popular with hundreds launched every month. However, with its popularity comes the challenge of scams. Already, investors have lost millions of dollars to these scams because most of them do not take time to research. This is the essence of this Pumpkinpro ICO review.
It is an articulated research on this project with the aim to ensure that investors are well informed about the initial coin offering and associated prospects and hazards.
What is the Project About?
There are many companies and teams that do not know how to raise the funds and infrastructure for their startup ideas. This is one of the objectives that the Pumpkinpro project wants to accomplish.
According to the ICO website, the promoters are collaborating with angel investors in Singapore and other South East Asian countries to raise funds to assist new startups.
Furthermore, the Pumpkinpro project wants to build a closed ecosystem that comprises traditional investment and cryptocurrency trading in one loop.
This ecosystem will comprise the Pump Exchange, Pump News, Pump Wallet and Pump App which represents liquidating cryptocurrencies, updates, storage/safe-keeping and an application which the project said it will update the Pumpkinpro investors on in the future.
Many Benefits of Joining
The site listed some of the reasons and benefits of joining the Pumpkinpro ICO and purchasing its token. Some of the reasons are that it is based on blockchain, value appreciation and a buy-back clause.
Others are right to vote, bonus for investors and even a tacit endorsement by SEC and FINMA.
What is the State of the ICO?
According to the ICO site, the Pumpkin pro ICO will commence in 5 days from the day of report. The team offers the Pumpkinpro token which has a maximum supply of 666,666,666,666. It is not yet certain why they selected such an awkward number.
Pros and Cons
The project’s website is attractive and beautifully designed. This was clearly aimed at engaging the visitors and making them stay and go through the content.
The first sign that would tell you that something is wrong with the Pumpkinpro project is the many grammatical errors and poor language structure in the website content.
Another is the attempt at subtle use of names and terms that command reputation such as License, MIT, SEC and FINMA which the project marginally inferred endorsed them.
Furthermore, the site highlighted that the ICO’s KYC is strict, giving impression to people that they have to get in when they can.
However, poorly crafted content and dishonest claims are not enough to infer that an ICO is bad. What is enough is a fake team…
The Pumpkinpro Team Profiles Are Fake
The first person we check whenever we are looking at an ICO team is the CEO since they supposedly are the brains behind the idea. The Pumpkinpro CEO is a fellow called Darren Richelle. With fake ICOs common, a background check was appropriate.
Through reverse engineering, we found out that the picture used on the CEO’s profile is that of another person whose name is Mark Dragon. What the Pumpkinpro promoters did was to set up an account with the picture of Mark Dragon and simply changed the name to Darren Richelle.
According to one of the investigators Timisisi, he contacted Dragon asking him if he knew about Pumpkinpro using his photo,
“Just for completeness, I asked Mark Dragon, the CEO whose picture was stolen, if he knows anything about this, he has not answered yet but he removed his pic from his profile, lol. He is probably thinking, if these people are so stupid and crazy to steal my pic without even some Photoshop, they may be dangerous!”
Aside from the fact that the Pumpkinpro ICO is cheating people by stealing their money using fake IDs, the project is also conducting KYC for investors and stealing their IDs. This is why it is best to keep off this ICO.
One would have assumed that such clear signals as poorly crafted content is enough to warn investors of the dangers of random investment in unverified ICOs. The Pumpkinpro ICO is still at pre-sale stage even though the main sale commences soon. Investors are advised to keep off this token sale.
Pumpkinpro ICO is a definite scam. Any team using fake IDs is just prepared to launch an exit scam. Investors should keep off Pumpkinpro.
Are there other ICOs you want us to review? Contact us at firstname.lastname@example.org.