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LATOKEN Shoots down Fraud Accusations


09 Sep 2019

Yet Another Crypto Drama: LATOKEN Shoots down KICK ICO's Fraud Accusations


Another crypto drama has been emerging recently, this time between KICK ICO and a project known as LATOKEN. Mainly, KICK ICO recently posted about LATOKEN being a fraudulent project on their Medium account. Unfortunately for them, the post has been taken off, so KICK ICO started making the same accusations on their Facebook page.

Now, LATOKEN is responding to the fraud claims, basically rubbishing them and shooting them down. The claims made by KICK ICO were actually shot down by a LATOKEN tech support employee, who addressed each of the points made against the project. The explanations come in response to a Telegram community member who asked the LATOKEN employees about their opinion on the accusations.

LATOKEN soon released an official announcement on their Telegram group. In the announcement, they stated that sharing wallet addresses with anyone is against the project's privacy policy, meaning that the WHIRL airdrop participants should not worry about their data being released or shared with anyone, including KICK ICO.

How did LATOKEN respond?


The first thing that the LATOKEN customer service employee had addressed was the claim itself, stating that it is false and very misleading. He pointed out that this was the reason why it was removed from Medium in the first place. The employee goes into detail, stating that the very title of the text was 'Latoken Fraud,' which is a serious accusation by itself. Not only that, but there was no proof to back any of the claims.

He then continued to add that the WHIRL issues were already addressed previously, and that WHIRL ordered a LATOKEN airdrop, which was prepared and rendered. LATOKEN is the one who is responsible for the token's distribution, which was addressed on the airdrop page, as well as in the airdrop bot.

The employee also stated that the claims of LATOKEN asking the KICK ICO team to send the KICK tokens for distribution are also not true. LATOKEN is perfectly capable of distributing tokens itself, even when they are frozen. The team can simply unfreeze them if necessary. In other words, it is WHIRL management that is technically incompetent, as the employee suggests.

The employee then addressed the KICK ICO claim that LATOKEN wouldn't properly distribute KICK tokens to the participants of the airdrop. He notes that this is also a claim that was made with no proof that the project was planning on doing anything like that.

In fact, LATOKEN has participated in over 30 airdrops in the past, and it never faced any similar claim from any other project. LATOKEN is even not planning on sharing wallet addresses with KICK ICO team, as their privacy policy ensures coin holders that their data will remain private and protected. LATOKEN never said that it would provide KICK ICO with wallet addresses, and it remains unclear as to where this idea originally came from.

Of course, wallet addresses are not 100% anonymous, which is well-known to everyone. In other words, even if KICK ICO managed to somehow recover the addresses after LATOKEN distributes the tokens, it would be an indication that the information is not anonymous.

LATOKEN employee shares even more details


Another interesting thing that the employee had decided to share includes the details of the funds that were raised via the LATOKEN platform. In total, there were 2,077 ETH coins made from the sale, in exchange for 369704.800 tokens. While he admits that this is not a particularly high amount, he still believes that it is noteworthy, and that is far from being 'not a single satoshi.'

Next, the employee also pointed out that LATOKEN's own team presented the data in regards to fees, after the WHIRL team requested it. LATOKEN's general practice was always to show the total amount that was raised, provided that the project in question agreed. They would also change the details as per the project's request, meaning that it was WHIRL who had requested the change in order to make the sale look better. However, as the employee admits, LATOKEN did make the mistake of trusting the WHIRL team and changing this information simply due to their request, and without proof of the total amount of funds that were raised.

Author: Ali Raza for Crypto-Rating.com

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