The below red flag reports have been submitted and verified. ‘Red Flags’ do not necessarily mean a project is a ‘scam’ but may provide useful information when evaluating a project.
If you have a ‘Red Flag’ you would like to report, please click the Red Flag Report Form button.
| Project Name | Type of Flag | Description | Date Added | Evidence Documentation |
|---|---|---|---|---|
| DeFli | Non-Doxxed Team or Nonexistent Online Presence | Project created a 'Teams' page with not existent team members and images stolen from internet. More recently, they have created new 'team' where only online presence are newly created accounts on Xing (a German based LinkedIn clone). | 2024-01-28 | https://v2.akord.com/public/vaults/active/dc74083e-344f-4b67-82a6-7c099e697144/gallery#cb89a68d-2b24-43b4-b424-f28dcb7fd6af |
| DeFli | Claims of Partnerships, Certifications, or Approvals That Can’t Be Verified | Project claims approval as U-Space provider. An email directly from EASA directly refutes this claim | 2024-01-28 | https://v2.akord.com/public/vaults/active/dc74083e-344f-4b67-82a6-7c099e697144/gallery#6ceb8259-e6fc-46b9-90da-c3fd3f1381c4 |
| DeFli | Claims of Partnerships, Certifications, or Approvals That Can’t Be Verified | Project claims to be working with Romanian Civil Aviation Authority. Email from CAA directly refutes this claim | 2024-01-28 | https://v2.akord.com/public/vaults/active/dc74083e-344f-4b67-82a6-7c099e697144/gallery#cb89a68d-2b24-43b4-b424-f28dcb7fd6af |
| DeFli | Misrepresentation and False Claims | Discovered photographs of products that were 'lifted' from another company. In response, project indicated they are supply partners, but when asked, the company indicated they had no relationship to DeFLI at all. | 2024-01-31 | https://v2.akord.com/public/vaults/active/dc74083e-344f-4b67-82a6-7c099e697144/gallery#84c7ddad-0692-40d0-8d34-962cf12000ca https://v2.akord.com/public/vaults/active/dc74083e-344f-4b67-82a6-7c099e697144/gallery#6867add2-ff78-44e6-9497-6e877b182fe2 |
| DeFli | Misrepresentation and False Claims | Project claimed to be generating liquidity via provider known as Bitquidity. No evidence could be found that this was an existing company. Website ([https://bitquidity.finance/](https://bitquidity.finance/)) now defunct no evidence that any liquidity was ever provided via this entity. | 2024-01-31 | |
| DeFli | Misrepresentation and False Claims | Project has claimed existence of 'parent' company, 'sister' companies, investments ($1.6Million in offer sheets during SAFE round) however, no evidence of any of these entities or investments can be found in any records. All claims of investment or partnerships are considered to be false. | 2024-01-31 | |
| DeFli | Claims of Partnerships, Certifications, or Approvals That Can’t Be Verified | Project claims a direct 'involvement' of an engineer of coinbase to try to add legitimacy to the project. Upon checking, the engineer has responded, "Token list inclusion is not an endorsement of any form, it merely means we acknowledge the token exists and can be bridged to Base. The fact that I may have reviewed their PR to add it to the list is my only possible "involvement" with the project." | 2024-02-22 | https://v2.akord.com/public/vaults/active/dc74083e-344f-4b67-82a6-7c099e697144/gallery#5a81b92e-764c-4cd8-8695-1161cad364ee |
| DeFli | Claims of Partnerships, Certifications, or Approvals That Can’t Be Verified | # DeFli Networks Inks Deal With Walmart for Hosted Stations https://www.suasnews.com/2024/01/defli-networks-inks-deal-with-walmart-for-hosted-stations/ | 2024-02-23 | |
| MXC / MatchX | Misrepresentation and False Claims | MXC Foundation updated the [Terms and Conditions 1](https://www.mxc.org/terms-and-conditions) on their website to include the following language: “by using the DataDash App you agree to _transfer all rights of ownership of all and any of your crypto assets_ by storing, depositing, staking, holding, mining or any other form of usage within the DataDash App _unequivocally to the MXC Foundation_.” | 2024-03-02 | |
| MXC / MatchX | Over-Engineered Tokenomics and Wallet Architecture | Users are required to manually “claim” their mined SENSOR + ISO tokens every 24 hours, otherwise, their earnings will be distributed back into the pool. Reportedly, for the majority of users, the claim function has an associated gas fee of 100-250 MXC tokens = ~$1.00-2.50, which is often MORE in fee than is EARNED in the claim. | 2024-03-02 | |
| MXC / MatchX | Over-Engineered Tokenomics and Wallet Architecture | Users were given 1 xMXC token in their zkEVM wallet for every 1 real MXC token in their DataDash app. Further, the only avenue provided for conversion of xMXC back to MXC is a volatile asset swap (i.e. not a pegged / stable swap) with only ~$24,000 of total pair liquidity or approx 1,250,000 tokens each of both xMXC & MXC. This meant that only the initial few users were able to recoup a majority of their MXC tokens, as the swap price immediately plummeted. | 2024-03-02 | |
| io.net | Investors with a History of Involvement in Other Scams | Mutiple reports that CEO has launched multiple other companies and projects that involved get rich quick schemes, trading bots, trading exchanges and "hedge funds." There are additional sources claiming that he is known as a serial scammer in the Middle East. Prior companies under question: -Arabfolio -WBorsa -Millions Exchange -WhalesTrader -Antbit | 2024-04-28 | https://www.youtube.com/watch?si=xXHTXNHl7S7kZJoE&v=ISKcSUBUfZo&feature=youtu.be |
| Project Name | Type of Flag |