I DO NOT RECOMMEND BUYING THIS COIN!
See timestamps below for easy navigation.
2:25 – Intro to Lending Programs
5:25 – Roadmap
7:28 – White Paper
10:33 – Attempting to Buy Coins as ICO Opens
13:33 – Discussing Red Flags – Transaction Discrepancies
Today I take a look at the GlassCoin ICO! From a glance at their site and offerings, it all seems to be pretty normal and reasonable. However, red flags start appearing as I attempt to purchase some coins when the ICO opened at 3:32 am Eastern US Time.
Major Red Flags:
– The Lending Program volatility software seems to give more daily returns towards people who lend more. (Not sure how that would work)
– The transaction timestamp is not accurate as today’s ICO ended in 35 secs. Transaction timestamps were showing huge time gaps.
– People were able to buy more coins than what was being offered in the ICO. (i.e 122,000 Tokens while the ICO was only offering 30,000).
– Seems to be potential bots buying as the transaction log shows quantities of 100k+ tokens being bought in a row.
