$SXP An investor lost $1.1 million due to CZ and SXP.
A simple example of how CZ got rich.
I'm quoting exactly what was written to me:
"Hello Selcoin, if I remember correctly, I've been following you since 2018 or 2019. Seeing your article about SXP, I wanted you to know how the REAL FRAUD was done. There's so much that CEO Nayiem didn't say that you'll understand the whole fraud much more clearly in this short email.
We were the fuel of the empire Binance built today.
Allegations of Irregularities in the SXP and Binance Process and Chronological Evidence:
• August 16, 2019 – 300 million SXP are minted via Etherscan. This supply is the original and genuine tokens of the project, as stated in the Swipe SXP Whitepaper." (Related transaction: etherscan.io/tx/0xd2ff1611b…)
• October 5, 2020 – An additional 289 million SXP are minted via BscScan. Just two days before Binance's acquisition announcement, the supply on their BSC network is secretly doubled. This is done without the community's knowledge. Since most of the tokens on the ETH network are locked, they are using their exchange's power and network to put these "fake" tokens into circulation and legitimize them. The supply is doubled in just one day. (Related transaction: bscscan.com/tx/0xd36a4d2dc…)
• October 7, 2020 – Binance officially announces its acquisition of SXP and marketing efforts begin. This marketing move is actually to sell those "fake" tokens minted on the BSC network. (Announcement links: binance.com/en/support/ann… binance.com/en/blog/all/bi…)
• December 10, 2020 – Binance Academy publishes an article titled "What is SXP?". The article states that the total supply is 300 million and will be reduced to 100 million through token burns. However, this is clearly a false statement. Because the supply had already doubled two months before this article was published (in October). Binance is misleading investors about the company and token it acquired. (Article: academy.binance.com/en/articles/wh…)
During this process, CZ was constantly tweeting about SXP on Twitter, driving up the market and selling those fake tokens that were minted on October 5th to investors. Once they were done, CZ deleted all his tweets about SXP. (Personal Note: I thoroughly researched the Swipe (SXP) project. However, I decided to invest based on my trust in Binance's refusal to misrepresent the information and after reading this article.)
• September 16, 2021 – Swipe's official Twitter account and the accounts of its Founder and CEO (@joselito @swipe) are shut down.
• December 30, 2021 – Binance announces it has acquired all remaining shares of Swipe. (Announcement: binance.com/en/support/ann…) binance.com/en-TR/research…
• February 24, 2022 – Swipe's name is changed to "Solar". The "fake" tokens issued years ago are presented as completely real under the pretext of the Mainnet launch process, attempting to cover up the fraud. Nayiem is appointed as CEO, and a new Whitepaper is published. Reading this new document (I've attached the Solar Whitepaper as an appendix), we understand how we've been deceived for years. The published Whitepaper admits that the supply will increase by the total tokens on the BSC and ETH networks (meaning the supply was already secretly doubled years ago) and that the new Solar project will have an "infinite" supply. They dismantled the successful Swipe project (which gave birth to Binance Card), tarnished the SXP brand by issuing fake tokens, and finally, they tricked investors into accepting this fake supply under the guise of a new blockchain project. Binance organized all of this. Nayiem even explicitly admits in his latest statement that Binance is managing the project.
Conclusion and Current Situation:
Although Nayiem, who kicked us out of Telegram groups for telling the truth and tried to make us forget the process, decided to reveal the "truth" after being fired, he doesn't address any of the main points of fraud I described above. The real fraud on the SXP side is clearly explained in this email, and the evidence is available in the links.
During this process, I incurred a total loss of $1.1 million.
