Moirai is one of the many initial coin offerings to have launched in recent weeks. Although the project seems to have a lot of merit, there are some initial concerns to take into account as well. One of the alleged advisers listed on its website isn’t even involved in this project, for one thing. This is not an uncommon tactic in the ICO world whatsoever, but it’s always cause for concern. There are some other troublesome signs out there as well.
What is the Deal with Moirai?
Although it would be a stretch to call Moirai an outright scam, certain aspects of this particular ICO should be taken into account. It is always up to individual investors and potential contributors to conduct their own research before making any decisions. The information provided below should not be considered to be investment advice whatsoever, even though the details to follow should not be dismissed as blatant lies either.
First of all, there is an advisor on the Moirai team’s web page who is not associated with this project whatsoever. The man known as Jeffrey Fidelman is a real person, but his ties with Moirai are imaginary at best. In a recent tweet, Fidelman explained that he’s not affiliated with Moirai and has no idea what the product is to begin with. Purposefully misleading investors is not a good start for any ICO; that much is certain.
#moirai is using my name as an advisor and I have never heard or spoken to them, no response to my notes to take my name off #fraud #scam
— Jeffrey Fidelman (@JFidelman) November 7, 2017
Secondly, in a follow-up to the above tweet, someone else pointed out how there were only three team members active on Twitter. While it is understandable not every public figure wants to use this particular platform for communication, it raises a lot of questions. Of the few Moirai team members actually using Twitter, three of them have seemingly fake profiles with very limited numbers of followers. That’s rather worrisome.
As if that weren’t enough, it also seems the company itself is registered to a mysterious individual known as Amanda Benson. While it is good to see more women in cryptocurrency, her name isn’t found on the company’s website whatsoever. That in itself is another unusual aspect of this ICO. While that’s not enough to call Moirai a blatant scam in its current form, no one can deny all of this looks pretty worrisome, to say the very least.
Perhaps the biggest red flag for Moirai is a recent report stating that the company has partnered with Vienna Insurance Group. It is no big surprise to learn this firm has no clue what Moirai is or what the company is up to. It is evident there are a lot of peculiarities associated with this particular ICO. It doesn’t instill any confidence whatsoever, as there are far too many uncertainties which will need to be clarified by the team sooner rather than later.
In the end, investors need to do their own research when it comes to investment opportunities like this one. While there are plenty of reasons not to invest in Moirai whatsoever, the team should be given an honest chance to defend themselves and explain the situation. It will certainly be interesting to see how they attempt to do so. For now, be very wary when it comes to this project and do your own thorough research.