How Fake news is Damaging blockchain project like Karatbars
In today’s world, where everyone seems to be running the rat race seeking to earn a few extra bucks, cryptocurrency and bitcoin promised a sea of new hope to those struggling to make ends meet. Since their inception, cryptocurrency has been closely monitored by government officials and there have been many scams and frauds on the same, making the entire gamut scary and completely forbidden for many.
Similarly, Karatbars also fell into the loop of this widespread scrutiny. It took a small article against the company to ruin this wonderful company’s image. The article which was backed by no evidence was used by major media houses as proof to discourage them from investing. Social media helped in the widespread fabricated stories of Karatbars. But in the midst of all this mayhem, there were those who stuck by them, eventually earning a lot within a very short time.
Cheers to the victory of KaratBars! And good luck to all the investors!
For all the future investors, here is a small brief about the company and some evidence-based facts that will definitely make you rethink your investment decisions:
KaratGold and KaratBars are Two Different Companies
The KaratGold Coin is a blockchain-based cryptocurrency that is linked to physically deposited gold in the form of the so-called CashGold. A certain number of KaratGold Coins can be exchanged for the appropriate amount of CashGold at any time.
Karat Gold Cooperation PTE. LTD is a Singapore registered company that deals with cryptocurrency and other digital products like karatbit.com k-merchant.com which is launched in 2017. It conducted ICO in 2018 and raised $100 million as per reports..
Whereas Karatbars International GmbH is a Germany registered company founded in 2011. The Karatbars International GmbH has its headquarters in Stuttgart. Karatbars International GmbH is for sales of physical products, and not for cryptocurrency.
What Defamed KaratBars?
Some regulators issued warning for Karatbars International GmbH in 2014 because they deal in Gold. and AMF wants to remind consumers that the gold market in which Karatbars operates is a complex market.This warning was to alert users that the company is not registered in AMF and is not authorized to operate in that area. However, in 2016 karatbars won the case because they are officially not operating in that area.
Now some media house is presenting both companies as one company and confusing investors.
- Karatbars international is registered in Germany and Karat Gold Cooperation PTE. LTD is registered in Singapore.
- No regulating authority has issued anything against Karat Gold Cooperation PTE. LTD after the launch of Cryptocurrency.
- No evidence or proof that Karatbars international or Karat Gold Cooperation PTE. LTD is investigated by Florida Regulators
Karat Gold Cooperation PTE. LTD has a Cryptocurrency exchange having monthly traffic of above 300K users which is a very big achievement for any cryptocurrency exchange.
They are also working on the blockchain-enabled phone know as IMpulse K1 and WHIM blockchain enable laptops,
In a recent YouTube video, the founder CEO Harald Seiz uploaded his ‘Statement to the criminal activities against KaratBars. This was for the customers to be updated about the deceit faced by the company. He said that the police is currently on this case.
He even regretted that a reputed media portal is spreading false news about KaratBars, he also claims to be under server attacks since July this year. Google users are being manipulated by false reviews uploaded by fake accounts.
They even mentioned in their blog that all this false information is spread by Marvin Steinberg who conducted their ICO and stole $12 million worth tokens.