Over the past 48 hours DDK has been spamming their supposed rebuttal to our December tenth evaluate in numerous locations.
Written from the frankly insulting perspective that no one is able to understanding their easy enterprise mannequin, DDKoin alleges our evaluate incorporates “false allegations” and an “inaccurate illustration” of their merchandise (of which they’ve none).
Let’s get into it.
Earlier than we proceed, a recap of DDK’s enterprise mannequin;
As per our revealed evaluate, DDK sells pre-generated DDKoin factors to gullible traders.
Gullible traders park invested DDKoin factors with DDK, in trade for extra DDKoin factors (staking).
By means of an inside trade, DDK associates can notice a return – so long as the corporate is keen to pay them with beforehand invested funds or different gullible traders purchase their DDKoin factors.
DDKoin itself is an ERC-20 shitcoin that holds no worth or goal exterior of the DDK funding scheme itself.
Throw in an MLM compensation plan that pays on DDKoin parked with the corporate by recruited associates, and that’s actually all there may be to it.
DDK’s evaluate rebuttal begins with the corporate claiming it’s “more than pleased to supply our company tackle”, however then failing to take action.
In our evaluate we surmised DDK was being run out of Malaysia. That is primarily based on the truth that DDK’s homeowners, Azrainuddin Zainal (aka Arai Ezzra) and Datin Nur Ezdiani Baharoddin, reside in Malaysia.
The explanation DDK don’t need to publicly acknowledge it is because the corporate isn’t registered with the Financial institution of Malaysia.
On the time of publication, Alexa pegs simply over 1 / 4 of visitors to the DDK web site as originating from Malaysia.
Thus it follows DDK is primarily soliciting funding in DDKoin from inside Malaysia itself.
As per Malaysian legislation, conducting cash altering and remittance enterprise actions and not using a license attracts a fantastic of as much as RM5 million and/or a ten-year jail sentence.
Because of this DDK pretends they function out of Singapore by shell firms.
DDK’s rebuttal continues with a mighty waffle about how the know-how behind their DDKoin shitcoin is authentic.
I don’t consider we ever questioned the know-how behind ERC-20 shitcoins, so I’m not going to hassle addressing this.
Suffice to say that anybody can arrange an ERC-20 shitcoin token of their very own in about 5 minutes.
Subsequent up, DDK claims it’s not an MLM firm.
DDK is NOT a multi-level advertising and marketing crypto ponzi, DDK is a Delegated Proof of Stake (DPoS) primarily based know-how that practices distinctive voting system to realize consensus, blahblahblah cryptocurrency jargon.
To be clear: DDK could be very a lot an MLM firm.
By means of a unilevel compensation plan, the corporate pays residual commissions on parked DDKoin by downline associates.
For the aim of accurately figuring out DDK as an MLM firm, no matter is hooked up to its MLM compensation plan is irrelevant.
For boiling down DDK’s scheme into its most easiest type, BehindMLM earned the corporate’s scorn.
Moral journalism must be correct and honest, it is best to take accountability for the accuracy of your work by verifying and never oversimplifying info earlier than publishing it.
We extremely query your portal’s credibility and functionality as a reliable information outlet and as these ethics have been merely ignored.
Whereas spewing cryptocurrency jargon serves the curiosity of scammers making an attempt to wow potential traders, right here at BehindMLM we’re all about simplicity.
Once you learn considered one of our evaluations you gained’t get any fluff, simply the information.
Sadly for scams resembling DDK, that is counter-productive to their aim. It’s in fact a lot tougher to drag the wool over an informed mark than one you confuse by bombarding them along with your “tech”.
DDK additionally took objection to our dismissal of DNC because the “dropped” shitcoin that preceeded DDKoin.
DDK’s first try and rip-off folks noticed it launch DinarCoin (DNC) in late 2015.
DNC was in fact simply one other ERC-20 shitcoin. It pumped and dumped earlier than DDK deserted it to reboot with DDKoin.
DDK claims DNC remains to be alive and properly, as evidenced by offered transaction knowledge.
Check out the equipped DNC transaction knowledge although, and also you’ll see the final transactions have been over ten days in the past for token quantities.
Certainly during the last month there have been solely twelve DNC token associated transactions.
DDK declare they “CONVERTED AND MIGRATED” DNC to DDKoin. Which, let’s be sincere, is simply one other means of claiming they abanoned DNC for DDKoin.
DDK appears to have an issue with our verbiage versus the information.
After some extra waffling on about their shitcoin tech, DDK brings up a authorized opinion from some Singaporean legislation agency.
I’m not going to waste my time with this as a result of
- DDK is operated out of Malaysia;
- DDK isn’t registered to supply securities in Malaysia; and
- providing unregistered securities in Malaysia is illegitimate.
Level six of DDK’s rebuttal disputes the truth that the corporate and its homeowners are amassing cash from associates.
That is but once more a VERY SERIOUS FALSE ALLEGATION, that you just revealed with none authorized backing.
As we’re transferring in the direction of 100% decentralized system and open supply venture, we’ve allotted pre-mined allocation of 1.7 million token of DDKoins for the stakeholders and thus, it is rather clear that you simply failed to grasp the idea of cryptocurrency venture, the place by pre-mined allocations, stakeholders are holding their very own actual helpful asset that they’re able to stake by our DPOS know-how to obtain rewards as per clearly said in our whitepaper.
Yeah, it’s not that I don’t get the idea of staking. It’s that DDK could be very a lot accepting actual cash for preliminary acquisition of DDKoin by associates.
DDKoin isn’t publicly tradeable, so the one approach to initially purchase it’s from the corporate itself or by buying it from one other DDK affiliate trying to money out.
As soon as once more DDK unsuccessfully tries to cover the information behind tech jargon waffle.
And that continues, with the corporate occurring about having ‘been very clear on the progress and improvement of DDK platform to our neighborhood and the knowledge can be out there inside our public area, only a few clicks away‘ blahblahblah.
Personally I don’t have an issue with the tech behind ERC-20 shitcoins. It’s confirmed itself to be extremely efficient in separating gullible idiots from their cash by utilization by a whole lot of MLM cryptocurrency scams.
Our evaluate nevertheless took situation at DDK working a Ponzi pump and dump token shitcoin MLM alternative, which in the end the corporate failed to deal with.
Attempt tougher guys. Could be straightforward pickings in south-east Asia however right here you’ll must do lots higher than “however muh tech!”
Replace sixteenth April 2019 – As of April 2019 DDKoin has eliminated their weblog submit criticizing BehindMLM’s DDKoin evaluate.
We had no hand within the removing and we’re undecided why the weblog submit was taken down.