Emjac IEO Raises a lot of Questions Regarding its Team Members and Legitimacy

There have been numerous projects in the cryptocurrency space that raise multiple questions. One of those projects is Emjac, a company successfully completing an IEO several months ago.

Conducting an IEO

should, in theory, prevent fraudulent projects from raising funds.

What is Really Going on With Emjac?

In the case of Emjac, there are still ample questions waiting to be answered.

The company conducted its IEO through the ChainX trading platform, which has not received much positive attention in this Bitcointalk thread.

Making matters worse is how the Emjac team consists of people who have nothing to do with this company.

On the project’s page, it is mentioned how Kwan Meng Kian is the founder of the company.

Following communication with us, it is evident that this is not the case by any means.

Related Post

Additionally, Emjac has nothing to do with Evergreen Corporate Sdn Bhd either.

All of this raises multiple red flags regarding the legitimacy of this IEO project.

Based on this information, it is not hard to see why they went with a relatively unknown exchange.

If they tried to conduct an IEO through reputable platforms, these issues would have been flagged immediately.

For investors in Emjac, it may be best to try and get funds out before this entire scheme collapses.

Just because it is an IEO, does not mean the project cannot be fraudulent. 

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Published by
JP Buntinx

Recent Posts

Smart Traders Pile Into $MOG As Token Continues To Break All-Time Highs

In the ever-dynamic world of cryptocurrency, $MOG has been a standout performer, breaking its previous…

4 hours ago

Tether Treasury Mints 1B USDT As Whales Inject 278.7M Into Crypto Market

Yesterday, the Tether Treasury minted another 1 billion USDT on the Tron Network, marking the…

4 hours ago

Real World Assets In DeFi Reach $3.89 Billion TVL, Marking Major Milestone

As of July 2024, the Total Value Locked (TVL) for Real World Assets (RWA) in…

4 hours ago

Ethena Protocol Surges In Stablecoin Supply And User Adoption

The Ethena protocol has experienced impressive growth in 2024, particularly in the supply of its…

4 hours ago

DeFi Blue Chips Poised For Breakout Despite Record Low Valuations

Despite lagging in 2023, DeFi 1.0 assets are now positioned for a significant breakout. DeFi…

4 hours ago

MOONHOP’s Presale Skyrocket | Shiba Shootout Value | Bonk Investors’ Moves

Best Meme Coin Gainer: MOONHOP's Presale Skyrockets, Attracting Bonk Investors While Shiba Shootout’s Value Soars…

10 hours ago