First there was this. (‘Gold-Backed’ Crypto Token’s Promoter Investigated by Florida Regulators)

And now the KBCBTC pair has been removed from HitBTC without any warning whatsoever. That basically means HitBTC removed KBC from their exchange.

Why? Just another stumbling block? Or is this the writing on the wall?

 
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I missed this one from August. 

And this.

 
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I received this document from a friend. It is Karatbank's official response to the allegations.

I'm going to see if I can verify some of the statements in this document. 

 
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One can look up Karat Coin Corp here. Quite interesting. I thought it would be more difficult to find a registered entity. But the real question is about the mines. So let me share what I found out about that.

  • The document mentions "GCC Gazella Corporate Capital GmbH" as the company that "has the right to make consolidation of the company Century Mining SARLU Madagascar"
  • I found this negative article that mentions GCC Gazella Corporate Capital GmbH. But apparently this could be part of the smear campaign. 

So I decided to mail "Century Mining SARLU Madagascar" directly. Let's see what comes from that.

 
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KBC is now also listed on DeadCoins.com as a scam coin.

 
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Rough day for Karatbank. Check it out here, here and here

And then there is this:

karatbank

 
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Karatabank is not a scam. I saw the atms myself at the convention and withdrew my own cashgold personally. There is also the big conventions they held in cape town and many other reasons why this is not a scam. 

There is a smear campaign against karat and it is a shame because karat is such a good product. 15 December the world will see!

 
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Hi KaratKBC,

Yip many are hoping it's not a scam and will eventually work. Just a quick correction, you did not withdrew your cashgold from a CEM :-) There are no working CEMs at the moment, never has. Headoffice with special permission allowed you to withdraw your cashgold at the event.

The concept of Karats is great but the execution is what could sink them - If they can get KBC to $0,1 before 15 December and get the CEMs to work before some new rule comes out about the QRs, then sure there is a great opportunity it might work.

The banking and mining license, with a statement of the actual gold in storage, would also go a long way to make it more credible.

I think, #myopinion they grew to fast, lost track of reality and now finding themselves in some serious problems trying to stop the cash bleeding, hence why the lucrative sales packages for the sales members, not so lucrative for the buying members, the only people benefiting at the moment are those selling it wink

I really hope they work out, there are toooooo MANY people scammed out of their money, who has no clue but ran after a false dream, really hope THEY don't lose their money!!

I too hold KCB and KBC but no way I am promoting this with a good conscious, unless people are willing to take one huge risk with one huge potential return.................The problem and red lights are all in one place, nothing works and there is always some excuse or new incentive to sell more - Cashflow is tight at headoffice, so the sales team will have to pull finger or KBC price needs a miracle jump - Maybe the stolen coins pumped back into the market, dropped in at a good price will help............

 
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Very cool and valid points, Dewald! 

What is quite astonishing to me is that the KBC price is actually going up despite all the bad publicity! Very curious to see what the future holfds for Karatbars.

 
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Some more links to check out:

I don't think it's a matter of "maybe it's a ponzi". This thing has ponzi and scam written all over it. You'd be a fool to carry on supporting this. Or just plain unethical. Shame on you.

 
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