TenX: Ein kurioser Exit-Scam
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TenX president Julian Hosp has reportedly been implicated in connection with Lyoness, an Austrian discount shopping service that has been declared an illegal pyramid scheme in Norway, Austria, and Switzerland.
After a summer of Chinese whispers on the internet alleging that he was involved in Lyoness before becoming the face of TenX, a video has emerged that appears to show Hosp presenting an online tutoring session used to enable viewers to recruit new participants in the pyramid scheme. The news was first reported by Breaker.
The emergence of the video, if authentic, is particularly damaging not only because of the reputational harm that TenX stands to suffer, but also because the contents of the video point to a damning lack of integrity and a willingness to promote dishonest and underhanded tactics in pursuit of profit. Among the pointers mentioned by Hosp in the video are exhortations for users to exploit relationships with friends and family because they “cannot evade” them, and to hide the real reason for requesting meetings with them. The video also includes tips for evading “annoying questions” about how Lyoness works.
Reputational Damage to TenX
It will be recalled that TenX raised over $80 million in its ICO last year on promises to “make cryptocurrencies spendable anytime anywhere” by connecting bitcoin to the real world with a Visa debit card and banking license. According to the TenX whitepaper, its platform native PAY token would entitle holders to dividend payments generated from use of its cards – a promise which has since been jettisoned. Since 2017, the platform’s basic promise has not been delivered on, with users still waiting for the promises bitcoin-linked debit cards more than a year later.
Questions are increasingly being asked about the willingness or capacity of TenX to fulfill its substantial promise, with some concluding that the company is in fact yet another iteration of an ICO exit scam.
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