Stox (STX) reported to have performed an exit scam after raising 33M USD

After raising 33M USD (143,000 ETH) in just 34 hours in 2017, Stox was shilled by Mayweather and had the infamous Moshe Hogeg of Sirin Labs (another wonder ICO of late 2017) as an advisor.Though they always claimed they were hard at work to deliver one of the best prediction markets, in fact they started dumping the supposedly vested tokens of the team and partners on exchanges almost immediately. Moshe Hogeg himself dumped a huge chunk of his share on Bancor.In the last two weeks, Amazix have suddenly dissappeared from their admin positions and the CEO Yossi Peretz has resigned. Commologic and Invest.com, whom were once presented as key factors in Stox’s development and market share positioning, have already left the project.Reports from earlier today state they have now abandoned their office, firing all staff...The Stox contract says that at the end of the token sale 29,600,000 more tokens were created. Of these 55% (or 16,280,000) went to the strategic partnership address. 25% was vested for Invest.com at address https://ift.tt/2Ddevfa) and 20% was vested with the Stox team https://ift.tt/2PPcPzb Total 45% of tokens, equalling 13,320,000 Stox.Both of these vesting addresses have the revoke=True parameter set. This means that they can choose whenever they want to revoke the vesting amount and have it returned to their wallet.12 days after the crowdsale 7,400,000 Stox were withdrawn from the trustee contract to the wallet - https://ift.tt/2DflPXJ through the revoke function as shown in the transaction hash: - https://ift.tt/2qHcZdM transaction is equivalent to 12.5% of total Stox (amount given to Invest.com). This is done again with 5,920,000 Stox which is equivalent to 10% of total Stox (the amount given to the Stox team). Transaction Hash - https://ift.tt/2FfsbsH looking at the revoke function it looks like you pass the holder address, the contract checks that the holder has a vested amount…and if true returns the vested amount to the sender. In this case the sender was https://ift.tt/2DflPXJ ...the Stox contract parent address.Most of these tokens (9,449,932) were sent to the strategic partnership address. Directly following from this, there were multiple transactions out of that wallet to the following two addresses - https://ift.tt/2PVg9Zu https://ift.tt/2qHcZKO transactions happened in the same hour after 4 days of inactivity on the partnership address. So it’s probably safe to say they were part of the supposed to be vested funds.Bonus - Moshe Hogeg's, STOX advisor, wallet showing STOX tokens being dumped on Bancor - https://ift.tt/2Fdh1V9 scam web is deep in this case and might prove to be one of the most rotten can of worms is the whole cryptosphere.More info regarding invest.com, its relationship with Stox and with some really shady figures has been gathered here:https://ift.tt/2qHd0OS

Submitted November 11, 2018 at 05:44PM