Digitex - One click cryptocurrency trading

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mobius
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Joined: Wed Oct 18, 2017 10:15 am

Quadriga: Cryptocurrency exchange founder's death locks $140m
7 hours ago
https://www.bbc.co.uk/news/world-us-canada-47123371
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Naffman
Posts: 5626
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Good old Adam Todd, and it seems from 3 years ago I mentioned the 4 tick offset guy was heavily in this as well, good job guys :lol:
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Euler
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I hadn't paid any interest in this from start to finish. But Adam has put up the whole story on a blog: -

https://blog.digitex.io/my-digitex-jour ... f-digitex/

Sounds like he struggled to get traction on it until he offered tokens for promoting it. Then launched the ICO and raised $5m in Crypto, but the market crashed.

Rather than cash out to fiat currency he held Crypto as it fell and used that to fund development work.

Spend ages in development before firing the development team.

Now announces that the exchange concept is dead and pivoting into Blockster, a 'crypto lifestyle magazine'

Market crashes.....
transferFunds
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Joined: Mon Feb 07, 2022 2:42 pm

Euler wrote:
Thu May 12, 2022 9:28 am
I hadn't paid any interest in this from start to finish. But Adam has put up the whole story on a blog: -

https://blog.digitex.io/my-digitex-jour ... f-digitex/

Sounds like he struggled to get traction on it until he offered tokens for promoting it. Then launched the ICO and raised $5m in Crypto, but the market crashed.

Rather than cash out to fiat currency he held Crypto as it fell and used that to fund development work.

Spend ages in development before firing the development team.

Now announces that the exchange concept is dead and pivoting into Blockster, a 'crypto lifestyle magazine'

Market crashes.....
He'd probably make a fortune selling on his 'client/sucker' list to some Indian or Nigerian call centres.
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Euler
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He said in that post, that this was how he established the client base in the first place!
After another similar false start in December, an affiliate marketing friend of mine told me that I needed to make the ICO go viral by rewarding people who shared the link with their friends. So I set the ICO date for January 15th 2018, and created a mechanism on the website that gave away 1,000 DGTX tokens for every friend that someone referred to join our Digitex ICO waiting list. The ICO price of DGTX was going to be $0.01 so that was like getting $10 for every email you referred to our list.

After a slow start the emails started to trickle in at the start of January. Then the trickle became more of a stream and then we got discovered by the Nigerian spamming community and shit got absolutely crazy. Links to the upcoming Digitex ICO appeared just about everywhere – no Telegram or Facebook group was safe, and in the final days leading up to the ICO we were getting thousands of email signups per hour. By the morning of January 15th, our waitlist reached 250,000 emails, from a standing start of zero a few weeks earlier.
transferFunds
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I didn't actually know much about the guy until this post but it's a real eye opener just how easily it was to set up a coin and hype it up. With no regulation you're free to pretty much do as you please without comeback.

Seems he created another Billion DGTX a few days ago even though they were sold on the assumption the DGTX holders would be the one's to vote when new coins were minted, guess the rent has to be paid somehow :)

https://medium.com/@blockstercom/should ... 1115a5294f
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ShaunWhite
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transferFunds wrote:
Thu May 12, 2022 4:00 pm
With no regulation you're free to pretty much do as you please without comeback.
The krypto kids think being disruptive while the grownups aren't looking is going to be fun, but when the big boys steal their sweets and they run to mummy she won't give a damn. You want lawless, you get lawless.
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Euler
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Those articles are an amazing read. Shows you what can happen when things are completely unregulated.

There was a link to the latest venture in there as well: -

Blockster — The new money grabbing scam from Digitex and Adam Todd

https://docs.google.com/document/d/1SZs ... XH4iosjJk/
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Naffman
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Euler wrote:
Thu May 12, 2022 5:22 pm
Those articles are an amazing read. Shows you what can happen when things are completely unregulated.

There was a link to the latest venture in there as well: -

Blockster — The new money grabbing scam from Digitex and Adam Todd

https://docs.google.com/document/d/1SZs ... XH4iosjJk/
He really is just a hustler
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Euler
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Only just cottoned that the domain vanished as well. At the start of the thread this was the domain: -

https://digitexfutures.com/

Now it's: -

https://digitex.io/
eightbo
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Hard to stomach, was a cool concept.  Hopefully faces some reprecussions one day if this was as immoral as it reads.

https://twitter.com/Digitex_io/status/1 ... 5002610697
more entertainment in the comments but here's a nice one :lol:

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Bog
Posts: 190
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:roll: :shock:

CFTC takes legal action against Digitex futures exchange and CEO
https://cointelegraph.com/news/cftc-tak ... ge-and-ceo
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Euler
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Wow

That said, the whole Crypto space has been one unregulated Wild West. I guess the thing that has changed now is that it’s being pulled into shape.

Adam had always been a bit gun ho, so some of the stuff he has said was always going to land him in hot water if regulators went for it. It looks like they are going for it.
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Naffman
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Just seen that about a month ago Adam Todd has been fined $16m by the CFTC, he should've stuck to filling the gaps on Betfair in the end I guess.
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wearthefoxhat
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Naffman wrote:
Tue Aug 29, 2023 8:58 pm
Just seen that about a month ago Adam Todd has been fined $16m by the CFTC, he should've stuck to filling the gaps on Betfair in the end I guess.

Maybe...he could make a come back. "240 consecutive winning days...Average 9/10 races..."

He could try, and document, one of those £100 to £10,000 challenges you see on the poker circuit. Then £10,000 in to £100,000...etc

Even accounting for PC, he'd get back the $16 million in double quick time....

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That would be more impressive that "allegedly" sandbagging investors on his new "venture" Digitex games - Feb 2023 (raised $1.4 million so far) :roll:


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