Crypto Fintech CEO Scams Clients in Fraudulent Exchange Listing
According to anonymous sources, Businessman Ng, one of crypto’s less illustrious sons, failed to meet his contractual obligations.
As such, the cryptopreneur and CEO is once again under
scrutiny for his business dealings. Notably, crypto can be a very volatile
asset. In addition, the crypto sphere can be treacherous waters to navigate,
especially for new investors. With rumors and allegations of hacks and scams,
it’s always advisable to only deal with well-known and trustworthy service
providers.
As such, it is anyone’s guess why said CEO is still in
business. Granted, his ventures are affiliated with top crypto exchanges like
US-based Bittrex. Also, previously leading an exchange second only to Upbit in
Bittrex’s Asian affiliations. As such, one would expect this CEO to be reputable
and trustworthy, yet sources revealed to CoinQuora that this is not the case.
In fact, the CEO has been riddled with scandals and faced
issues ranging from fraud to failing to meet contractual obligations.
Crypto Fraud or Misunderstood?
To clarify, Ng has his fingers in many crypto pies,
including being the co-founder and former CEO of an Asian crypto exchange. Of
note, one of Ng’s companies is Aladdin Fintech Company Limited, a Hong
Kong-based listing agent.
In particular, Aladdin Fintech helps blockchains to list on
major exchanges like Bittrex, Upbit, Bitfinex, and others. However, both
Aladdin Fintech and Ng have earned a reputation for being unreliable in listing
circles.
Also, the anonymous sources added that Aladdin Fintech often
delays and drags out listings. Instead of being upfront and honest with
clients, Ng prefers to offer excuses and false promises. To make matters worse,
clients who attempt to terminate his services are faced with an uphill battle
to get their funds back from him. One such client has been waiting for a refund
since 2019.
What’s more, the CEO worked with top brands such as Yahoo,
Tencent, and Rakuten. As such, it makes his nefarious business dealing all the
more shocking.
Furthermore, Ng is the founder and Chairman of I-House Token
(IHT), one of the first global blockchain real estate cloud platforms. This is
in addition to being the co-founder of NASDAQ-listed iClick Interactive. Thus,
to say he is misrepresenting crypto as a whole would be an understatement.
In recent months we have had the pleasure of witnessing
unprecedented rates of crypto adoption. With top blue-chip companies like Tesla
(NASDAQ:TSLA) and MicroStrategy taking crypto mainstream, the stakes have never
been higher. As such, as a community, we have a great responsibility to hold to
account those that tarnish the reputation of crypto.
Hold the Crypto Standard High
Not only that, we must gatekeep crypto and ensure that
fraudsters and cheats do not continue to proliferate at the expense of the
masses. As popular crypto analyst and YouTuber, Sheldon Evans put it,
cryptocurrency is not a zero-sum game where only one blockchain can shine.
Rather, crypto is a positive-sum game where if one platform rises, all of
crypto rises on its coattails. Similarly, if one of crypto’s sons falls, he can
drag the entire sphere down with him.
As such, we challenge all crypto lovers and stakeholders to
hold high the standards and reputation of crypto. Also, keep in mind that the
revolution has just begun. As pioneers, we must stand together for what is
right and denounce every wrong. That is if we desire to see crypto flourish and
take its rightful place.
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