Austrian ICO “Echarge” is suspected of fraud

The fact that many ICOs, with the exception of false promises, despite delivering revenues in the multi-digit million range, often did not deliver anything should not be new to people in the community. As the news agency trendingtopics reported yesterday, the Austrian ICO "Echarge" is said to be a fraud.

Has long been suspected of bankruptcy

Anyone who thinks that fraudulent ICOs (Initial Coin Offerings) only exist in distant countries is wrong. After the well-known project Savedroid increasingly discredited, should now Austrian project under Suspected fraud stand. The Austrian news agency reports trendingtopics on June 4, 2019. According to the corruption prosecutor's office because of serious fraud against the founders of Echarge determine.

The project was then presented with the following Worten: is the first alternative system for simple and cost-effective recharging of electric cars and other battery-powered vehicles. It is designed to be used worldwide by installing eCharge stations in hotels, offices, shopping centers, parking lots and other customer-friendly locations.

By the end of 2017, more than 500 charging stations should be installed. Today everyone should be aware that nothing came of it. According to the roadmap, the platforms should be launched in January, followed by the USA in June. It is not known how many or how few charging stations there are today. Back then, investors were promised to use their own cryptocurrency "(ECH)" save up to 30 percent on charging stationsn.

The ICO was then carried out for this cryptocurrency. Because of this, according to trendingtopics, the corruption prosecutor's office issued a "open investigation against a suspect and two associations on charges of partly attempted and partly completed serious commercial fraud". Already in February 2018 berichtete trendingtopic using the questionable ICO.

Niche currencies like this will have a hard time surviving in the crypto market. Because there are now large projects that cover use cases such as these. So the consulting firm DX-Technologie Concept for an IOTA charging stationn presents. In Vienna, by the end of 2019, a Cooperation between blockchain startup Riddle & Code and Wien Energie the first blockchain charging station will be set up.


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