Skip to content
This repository has been archived by the owner on Mar 1, 2020. It is now read-only.

GoNetwork - Due diligence #12

icochecker opened this issue Nov 29, 2017 · 37 comments

GoNetwork - Due diligence #12

icochecker opened this issue Nov 29, 2017 · 37 comments


Copy link

icochecker commented Nov 29, 2017

GoNetwork (GOT)




Questions not answered by the company:



  • Sunday 26th Nov: User asks company info
  • Admin tells user to look in the white paper.
  • No company info in the white paper.



  • Sunday 26th Nov: Asked for the 2nd time
  • Admin tells user to wait for annoucement



  • Sunday 26th Nov: Asked for the 3nd time
  • No answer



  • Sunday 26th Nov: Asked for the 4th time
  • Xun Cai (Co-founder & COO) too busy posting GIFS
  • No answer



  • Sunday 26th Nov: Asked for the 5th time
  • No answer



  • Monday 27th Nov: Asked for the 6th time
  • No answer



  • Monday 27th Nov: Asked for the 7th time
  • Marc tells user to PM Xun



  • Monday 27th Nov: Other user asks company info
  • No answer



  • Monday 27th Nov: Asked for the 8th time
  • No answer while Xun Cai (Co-founder & COO) is live in the chat

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:



Registered Office Address

Corporation Number 727496-3
Business Number (BN) 838527463RC0001
Corporate Name INFINIDY CORP.
Status Active
Governing Legislation Canada Business Corporations Act - 2009-11-09

Minimum 2 - Maximum 2

2302 - 350 WEBB DRIVE

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

  • Rashid Khan (Co-founder & CEO of GoNetwork) & Xun Cai (Co-founder & COO of GoNetwork) are Directors of INFINIDY CORP.

5. Searching for GoNetwork on the Nuans database, a Canada-wide corporate, business name and trademark registry.

  • Shows 2 results


6. Company screenshot sent to Xun Cai (Co-founder & COO)



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

  • No smart contract available


  • GoNetwork
  • No code committed since the hackaton, 2 month ago.


  • No working product for GoNetwork

Vesting schedule

  • No vesting information
  • Investors questions ignored. See screenshot below.

Poor Communication with Investors - Questions ignored by GoNetwork



  • Investors questions ignored in the Telegram chat.

Disturbing screenshot leaked on telegram

screenshot-leaked-2017-11-27 01 03 29

Screenshot deleted by mod and reaction from channel




Allegation of fake screenshot


Other screenshot received from random user in private message

screenshot-sent-inpm-image 2017-11-26 02 25 47

Dialogue with Xun Cai:






  • Disturbing screenshot gets leaked on telegram
  • Screenshot is labeled as fake
  • Xun Cai (Co-founder & COO) tells user that someone hacked his computer or telegram


The founders never replied to investors' questions, showing total disregard to their concerns.


Copy link

prateekjassal commented Dec 1, 2017

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.

Copy link

gonetwork-admin commented Dec 1, 2017

For people asking about our Company, we will be releasing more information on that soon.

Copy link

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.

Copy link

Copy link

gonetwork-admin commented Dec 1, 2017

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 and search 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.

Copy link

gonetwork-admin commented Dec 1, 2017

Why it’s obvious a Hacker or Scammer:

Until this point, we have never accepted any money and we have never accepted any deal!

  1. We don’t ask for money in telegram, especially people we don’t know. We even said that in our telegram group many times.

  2. Biggest problem here: He asked for 700K - 1M which is crazy for a stranger.

  3. 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.

  4. People don’t say so many harmful things to a stranger you don’t know on Telegram. This is too obvious.

  5. Please look at the time stamp, everything happened too fast. Both parties talk very fast - it seems like they are talking without thinking.

Copy link

gulfcoin commented Dec 1, 2017

@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.

Copy link

This is your first time submitting project name?

Copy link

@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.

Copy link

gulfcoin commented Dec 1, 2017

Cant even give proper lies. such noobs, throw some tokens at professors, make them advisors, get the shill master to shill your ico. End of ico era. sigh.... SEC please help the crypto sheeps

Copy link

Gonetwork have banned me today from their telegram channel for asking legitimate questions.
I have not been first one, they ban, and not the last one I guess.



The answers that were given are copy/paste. Basically, they got a operation manual, how to deal with the questions in the channel. Litteraly repeating the comments above in this thread.




more censorship


Same answers again, copy/paste

And then... Ban me, get out of here.

The whole story about the hacking does not make any sense.
At least to people with quite some IQ level which is everybody in that channel, but yourselves..
This is a known excuse that is litteraly common in showbiz, not in cryptospace, when people are exposed for non-ethical matter, like sexting, extortion and so on. Everyone getting exposed, claims his cell phone is compromised.
Poor argument.

Having an email account compromised during the Adobe hack in 2013, is not a reason the account has been hacked. And guess what, ihas been discovered just now when getting exposed...
I checked my email account on pwnd site, and yes, it is listed, been Pwn'ed as they say. I am still using it today, and have no problem.

Xau is giving unbalanced answers to Peter Sjöström when asked about the hack.

Email hack != telegram compromised (based on cell phone authentication). Not quite linked, are they.

It is quite a coincidence that someone gets access to telegram, then reaches out to someone else to negotiate some deal, in say 10 minutes, without anybody noticing??

Well I think what you will be coming up with next is, a consultation with your legal team, draft an announcement, on how cover up your lies, cross check it with PR, on how to present it to the audience, and then post a nice little post on Medium explaining what happened, people jus FUDding, spamming and telling lies.

In any case, I am waiting for it. Send me the link.

Copy link

@gonetwork-admin - You need a lesson in being a group admin. I haven't seen such an intolerant admin before. I will happily NOT invest in this ICO based on just your behaviour. I know you have a lot of people in your Telegram group but you should probably learn to be humble and act with some reasoning instead of kicking people just for fun.

Copy link

gulfcoin commented Dec 2, 2017

Balina is finished when people realize Go Network is a scam.

Copy link

gulfcoin commented Dec 2, 2017

Website traffic search:
Daily Visitors: 4
Social Networks: Likes 90
Daily Visitors: 4,176
Social Networks: Likes 147

No comments from me required on this

Copy link

As scammy as it gets. Pieces of shit team. No wonder they paid Balina to shill this. Balina throwing his viewers to the dog for a few quids. Motherfuckers galore.

Copy link

iy310 commented Jan 3, 2018

Yeah I found out about this ICO through Ian Balina too, but glad I saw this before I put in any money... Lesson learned: always gotta do your own research!

Copy link

Have they picked up their game or still being sketchy? What made Ian Balina decide to be an adviser for these guys if they're dodgy? Something is amiss!

Copy link

Zaozaopublic commented Jan 17, 2018

Don't get me wrong, basically, it's a bunch of school kids who won a hackathon and decided to launch an ICO. They were not prepared at any level. There is no transparency, no plan, just a bunch of clueless people. I wonder how they chose their advisors, at least one of them adds absolutely no value.
In the beginning, they were using a photo where they had Vitalik with them who was visiting UWaterloo for the hackathon. I think that's what gave them so much publicity.
P.S. - I graduated from the same school.

Copy link

iEKOS commented Jan 20, 2018

Hello guys,

Here is a quick convo I had with an admin:

Copy link

I never mentioned that Gonetwork is investor in Kickico or kickico is an investor in Gonetwork. I said that i know of this team because they submitted their project for fund raising on kickico platform. And i (myself) was one of the early investors in kickico. Their objective earlier was stated as "disrupting trillion dollar mobile and virtual goods economy".

Copy link

If your research is based on chat with temporary telegram group admins then i wish you good luck on your investment

Copy link

Kindly enlighten us how telegram hack is possible from email ?

Copy link

iEKOS commented Jan 20, 2018

Hey, listen, you seem really annoyed @gulfcoin and that is definitely justified. Noone is pointing fingers at you at all and appreciate your input. And no, I posted the chat just to be a part of the investigation and show my findings. So chill out as we are on your side.

Copy link

And they are doing a dutch auction.

Cash grab!

Copy link

inancgumus commented Jan 25, 2018

Most of the code in their Github repos seems like directly copied or forked with no additional value regarding the proposition they have made. I believe the only original code is the smart contract code here. And because the whitepaper has also been removed, I couldn't verify the smart contracts either.

Copy link

People need to wake up and stop following Ian Balina. He is the biggest shill of the crypto currency world. He has been supporting ICO's who are literally betraying the investors trust. If you check out his spreadsheet, many of the ICO's that are really good and have better potential than the one he ranks all star he under rates them based on team, based on no working prototype etc.. But he rates ArcBlock as all start and the product has no working prototype, the product/algorithm (algorand) is stolen of another scientist... yet he shills for that ICO.
2. Nucleus Vision.. the ICO betrayed the trusts of the largest community on Telegram.. backed out on the promise that they will be doing a pre-sale.
3. GoNetwork.. you already see what's going on.

He gets his comission and his tokens, to hell with everyone else. He is making money and duping the members who are trusting him blindly. INitially the folks who made money due to his recommendations.. was natural, he was not famous, he just made videos and many people who watched or did not wwatch the video made money. Doesnt mean that if he didnt make the video people would not have brought those ico's.. right?

Wake up.. stop making someone God.

Copy link

jorisw commented Feb 4, 2018

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. :D

Copy link

gulfcoin commented Feb 5, 2018

Lol, 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

Copy link

gulfcoin commented Feb 5, 2018

We know the founders are too caring of the community and are raising funds to fight big whales

Copy link

gulfcoin commented Feb 5, 2018

$800 in gas for 1-2 ether contribution. Dude, tell this telegram admin to STFU

Copy link

mpnyc commented Feb 9, 2018

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

Copy link

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.

Copy link

AriuzSS commented Feb 27, 2018

I just wanna say thanks to those of you who just showed to us the real purpose of this project. THANK YOU

Copy link

ericmeng commented Mar 6, 2018

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...

Copy link

asdfjp commented Apr 11, 2018

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.

Copy link

Zubinexu commented May 8, 2018

Some admins in Telegram are using stock images to impersonate I guess.



Copy link

Plutonici commented Jun 9, 2018

Video proof that it is "all about the money"

Sign up for free to subscribe to this conversation on GitHub. Already have an account? Sign in.
None yet

No branches or pull requests