Altcoins Talks - Cryptocurrency Forum
Further Discussions => Legality & Taxation of Cryptos => Topic started by: Pegasus on November 01, 2018, 08:43:11 AM
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Polish police have seized assets of DasCoin (DASC) amounting to more than $10 million, reported Ewa Bialik, a spokesperson for the Warsaw district prosecutor’s office. DASC is a digital asset related to the Net Leaders MLM scheme, and has raised suspicions in past months.
DASC was a non-minable coin used in the fundraising for the scheme. Net Leaders was not an entirely crypto-centric organization, which explains the significant holdings of cash, instead of crypto wallets. DASC itself is a low-profile digital asset found toward the bottom of the table based on market capitalization. At around position 1,800 on CoinMarketCap, DASC trades with a price of $0.03, after briefly peaking at $0.21 on June 30, 2018. Trading sees extremely low daily volumes, as slim as $36 on IDAX.
DASC has been used to entice the public just like Pura Coin was used in the Avalon Life MLM scheme. The presence of a crypto asset adds nothing to the scam, but uses a buzzword to entice a wider public that does not necessarily understand cryptocurrencies. In this regard, DASC also works like OneCoin, the persecuted coin scam which recently unraveled and has sought ways to reinvent itself.
Net Leaders uses DASC in a form of simulated mining, for which those entering the scheme pay in cash, and generate DASC. The asset itself is practically impossible to sell on the open market.
But despite the mounting evidence that Net Leaders is a pyramid scheme, the DasCoin project seems to be keeping up appearances and making plans to continue:
Michael Matthias, the brain behind DasCoin and Das33 speaks of Malta's "entrepreneurial spirit” and how the fintech industry was "waiting for someone to step up." https://t.co/6ddKq5PtAs
— MaltaChamber (@Malta_Chamber) October 31, 2018
Despite the investigation and asset seizure, DasCoin seems to be still active on social media, as well as mainstream publicity:
Our chairman Eberhard Wedekind gave an interview to France's La Bourse at La Vie and you can read up about it here#DasCoin #crypto #Das33 #blockchain
https://t.co/CQ2Vj1WKBK
— DasCoin (@DasCoinOfficial) October 30, 2018
Source (https://cryptovest.com/news/polish-authorities-seize-over-10-million-from-dascoin/)