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GoNetwork - Due diligence #12
Description
Activity
I was kicked from their Telegram group the moment I wrote the word scammy with a question mark. I am off this scam. Thanks for alerting.
For people asking about our Company, we will be releasing more information on that soon.
All the team and advisor tokens will be locked and vested over a period of time. Once our smart contract is live you can see it.
Please read our latest blog post here https://medium.com/@gonetwork/gonetwork-telegram-now-has-over-12k-members-thank-you-we-have-some-updates-for-you-bed31402493
How our telegram may have got hacked
The same telegram account can be login in and used in multiple devices at the same time. And if you login to your telegram account in one device like an ipad without logging out and someone took that ipad, he can use your telegram without any password. Or if you login to the web telegram or desktop telegram without logging out, someone can also use your account and talk to other people.
We made iphone games and we had a lot of different mobile devices without passcode for testing reason. We may have our telegram login in some of them. If one of those devices was taken by a scammer or hacker, he could easily use it to talk to other people. And if we have login to our telegram account in a computer without signing out, someone can also use our account in that computer.
Another way of using our account is that if someone can get access to our computer in any way like hacking, he can also use our account.
In addition to all this we did a security audit and found Xun Cai's email to have been compromised earlier. We have changed all our passwords and 2FAuths.
You can see for yourself, go to https://haveibeenpwned.com/ and search cai@infinidy.ca the results says:
Breaches you were pwned in
A "breach" is an incident where a site's data has been illegally accessed by hackers and then released publicly. Review the types of data that were compromised (email addresses, passwords, credit cards etc.) and take appropriate action, such as changing passwords.Adobe: In October 2013, 153 million Adobe accounts were breached with each containing an internal ID, username, email, encrypted password and a password hint in plain text. The password cryptography was poorly done and many were quickly resolved back to plain text. The unencrypted hints also disclosed much about the passwords adding further to the risk that hundreds of millions of Adobe customers already faced.
Compromised data: Email addresses, Password hints, Passwords, Usernames
Bitly: In May 2014, the link management company Bitly announced they'd suffered a data breach. The breach contained over 9.3 million unique email addresses, usernames and hashed passwords, most using SHA1 with a small number using bcrypt.Compromised data: Email addresses, Passwords, Usernames
LinkedIn: In May 2016, LinkedIn had 164 million email addresses and passwords exposed. Originally hacked in 2012, the data remained out of sight until being offered for sale on a dark market site 4 years later. The passwords in the breach were stored as SHA1 hashes without salt, the vast majority of which were quickly cracked in the days following the release of the data.Compromised data: Email addresses, Passwords
We encourage you guys to occasionally change your passwords and use 2FAuth.
Reacted by SerendipityIsMe, Jerrelle, Philip Arthur Moore, scriptExplorer, asdfjp, Mirror Mirage and Yun ZhaoReacted by Will and asdfjpWhy it’s obvious a Hacker or Scammer:
Until this point, we have never accepted any money and we have never accepted any deal!
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We don’t ask for money in telegram, especially people we don’t know. We even said that in our telegram group many times.
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Biggest problem here: He asked for 700K - 1M which is crazy for a stranger.
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As you know, we DON’T ask for money but only ETH and BTC for any private presale or ICO. So this showed us that this guy didn’t understand ICO that much. We said that many times in our group about this policy too. This showed us this hacker didn't know anything about ICO.
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People don’t say so many harmful things to a stranger you don’t know on Telegram. This is too obvious.
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Please look at the time stamp, everything happened too fast. Both parties talk very fast - it seems like they are talking without thinking.
Reacted by Zaozaopublic, Erick, Rohan Naidu, Z, Ned Pike, SerendipityIsMe, Jerrelle, Will, Philip Arthur Moore and asdfjpReacted by Will-
@icochecker I see the gonetwork-admin is trying hard to convince that they are very legit.
Well, I am also reluctant on investing or even flipping in this ico as I know this gonetwork project from August 2017 being one of the early investors in Kickico. This was among the first ico proposal submitted on Kickico platform. And boy, they have entirely changed up their ico objectives, polished their resumes. Cant find out their noobish video which they submitted to Kick platform. Iam out of this ico. Anyone who wish to investigate further can request Kickico team for their initial proposal and video i talk about.
This is your first time submitting project name?@gonetwork-admin How is email hack related to Telegram? Sign-up there is via mobile phone number + SMS code, sign-in on new device via code to other authorized Telegram device. No email involved.
Reacted by Maciej Kowalski, bytenoob, Anggi, Luís Ramalho, Erick, Bommels, Z, cyberyak and Ned Pike22 remaining items
Just to contribute... Their admin Jenny says this in the Telegram group, with regards to the Dutch auction:
The team had gone through a lot of research and thoughts before deciding to go with a dutch auction. The decision was made for the benefit and fairness of the broader community. 1. We want to avoid creating a gas war like many other projects. We believe it’s ridiculous for our supporters to pay $800USD in gas for an allocation of 1-2ETH or even less. While it’s not a big number for someone who comes in with 100ETH, but it does become a nightmare for those who are planning to contribute 1ETH or less, and we don’t think it’s fair. With Dutch Auction's model, the cap on the first couple of days is set in a way so it couldn't be reached at all. This will make it possible for our early believers to support with whichever the purchase amount they like; and at the same time, be able to get in with a plenty of time. We hate to have our supporters stay up late at night, or have interference with their work and study because they are trying to squeeze into our tokensale, which would only last for a matter of minutes or a few hours. Our goal is to create a better and happier community, by achieving our vision of bringing cryptocurrency to the masses. Not introduction of misery at the very start of the project with tokensales. Furthermore, with Dutch Auction model, every buyer will be paying the same price per token at the end. If the last buyer in the auction was lucky enough to purchase GoToken at the cheapest price, then every single buyer will end up paying that lowest possible price. :DReacted by gulfcoinLol, we are commenting on a possible scam and retards are advertising it here. There are lots of better ways to plan a crowdsale and save on gas and network congestion, so kindly dump this bullshit elsewhere
We know the founders are too caring of the community and are raising funds to fight big whales
$800 in gas for 1-2 ether contribution. Dude, tell this telegram admin to STFU
i am seriously so shocked how are people manipulating crypto for their selfish gains. These guys were one of 8 winners and you goto their telegram , their website - they are just screaming ETHWATERLOO ETHWATERLOO ETHWATERLOO and thats it,. the founder has " ycombinator interview" as an accomplishment on the freaking ICO page. my money is on the fact that they probably have 1-2 developers solely responsible for award and they are just milking it to literally steal millions of dollars away.
Not a single founder has any serious accomplishment and they just paid ian balina off and he is shilling this project and his blind followers are going crazy
I would seriously donate money the day go network is shut down and their so called good for nothing founders are left with nothing.
Finally to add - dont even try telling people this on their TG chat - they have 70,000 telegram followers without a product,whitepaper,vesting schedule,Ico date :) . utterly disgusting
They are not transparent and there is fuckery going on Clearly. I found the same situation with Hawala who's platform really liked but they have private investment, no pictures or profiled of dev team and wont say who they are, and no msb license. A Reddit user called Quantum_Bubblegum asked serious question which cracked the community and tanked the price from $32 to currently $2. I invested in all the neo partners instead. The key is really cheap and will be huge, Zeepin is a mega platform. Polymath is safe bet as well. To many great projects to get stuck holding a bag of shit coins.
I just wanna say thanks to those of you who just showed to us the real purpose of this project. THANK YOU
To be honest, a screenshot is so easy to forge. Though the COO does seem super noob, he said he got hacked instead of the screenshot being forgery which possibly make it real...
apparently the COO was suffering from panic, forget that there is a better lie that someone forged all that, could be a beautiful lie, yet he screwed that up, a lame liar is what he is, such a typical scam.
Some admins in Telegram are using stock images to impersonate I guess.
[ADMIN1] https://ibb.co/deiNzx
[STOCK IMAGE] https://ibb.co/f7iSXH[ADMIN2]https://ibb.co/m280mc
[STOCK IMAGE] https://ibb.co/e2EUexVideo proof that it is "all about the money"
GoNetwork (GOT)
Team
Advisors
Company
Questions not answered by the company:
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9
Searching for company info
1. Linkedin profile of Xun Cai (Co-founder & COO) says that GoNetwork Pvt. Ltd is in Waterloo, Ontario.
2. Searching for GoNetwork on the Canadian corporate database gives no results.
3. Xun Cai Linkedin profile - CTO of Infinidy.
4. Searching for Infinidy on the Canadian corporate database gives one result:
INFINIDY CORP.
Registered Office Address
308 - 55 WILLIAM STREET EAST
WATERLOO ON N2J 4Z1
Canada
Corporation Number 727496-3
Business Number (BN) 838527463RC0001
Corporate Name INFINIDY CORP.
Status Active
Governing Legislation Canada Business Corporations Act - 2009-11-09
Directors
Minimum 2 - Maximum 2
XUN CAI
308 - 55 WILLIAM STREET EAST
WATERLOO ON N2J 4Z1
Canada
RASHID SHAKIL KHAN
2302 - 350 WEBB DRIVE
MISSISSAUGA ON L5B 3W4
Canada
Annual Filings
Anniversary Date (MM-DD) 11-09
Date of Last Annual Meeting 2016-12-12
Annual Filing Period (MM-DD) 11-09 to 01-08
Type of Corporation Non-distributing corporation with 50 or fewer shareholders
Status of Annual Filings
2017 - Due to be filed
2016 - Filed
2015 - Filed
Corporate History
Corporate Name History
2009-11-09 to Present INFINIDY CORP.
Certificate of Incorporation 2009-11-09
5. Searching for GoNetwork on the Nuans database, a Canada-wide corporate, business name and trademark registry.
6. Company screenshot sent to Xun Cai (Co-founder & COO)
Observation
On Linkedin, it says that Rashid Khan and Xun Cai are co-founders of Go Network, a company based in Waterloo, Ontario, Canada since January 2016. In reality, both the Canadian Corporate Database and Nuans Database show no record of the company before November 21st, 2017.
Two questions remain: under which name is GoNetwork operating, and why hasn’t Xun Cai answered the questions about his company?
Smart contract
Github
Product
Vesting schedule
Poor Communication with Investors - Questions ignored by GoNetwork
Disturbing screenshot leaked on telegram
Screenshot deleted by mod and reaction from channel
Allegation of fake screenshot
Other screenshot received from random user in private message
Dialogue with Xun Cai:
Observation
Conclusion
The founders never replied to investors' questions, showing total disregard to their concerns.
IcoCheck