Some FUD on STOX

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garry
Nov 11, 2018

A warning post saying Stox (STX) reported to have performed an exit cam appeared on Reddit: https://www.reddit.com/r/CryptoCurrency/comments/9w2w4n/stox_stx_reported_to_have_performed_an_exit_scam/

Facts mentioned:

1. CEO Yossi Peretz has resigned.

2. Commologic and Invest.com (not to be mistaken for the financial news site Investing.com), whom were once presented as key factors in Stox’s development and market share positioning, have already left the project.

Stox respond: it was decided to terminate our contract with our Israel-based service provider ‘Commologic’, which had been providing services and moving to a new global structure. In this regard, we have moved development and operations to Europe.

As for Amazix community managers, Stox terminated the contract with AmaZix in October because the parties could not reach agreement on the commercial terms.

3. 12 days after the crowdsale 7,400,000 Stox were withdrawn from the trustee contract back to the wallet - https://etherscan.io/address/0xaf773cb251d81178a611ba74e279bbaddce560c2 through the revoke function as shown in the transaction hash: - https://etherscan.io/tx/0x4f79834acea65c45e5c64bca96dadbe7961d2e23dc77868d1ebc9cecd90ab3e3

This transaction is equivalent to 12.5% of total Stox (amount given to Invest.com). This is done again with 5,920,000 Stox which is equivalent to 10% of total Stox (the amount given to the Stox team). Transaction Hash -

https://etherscan.io/tx/0x334331066bb6d54a6614190b80ee0e0e9c8a4885f9fee3bbddc43bab7f30eaec

Stox respond: The revoke function was used right after the ICO in order to fix vested amounts in invest.com’s and Stox’s team wallets. From time to time the revoke function is used to adjust vesting terms according to new or ended partnerships.

4. Moshe Hogeg's, STOX advisor, wallet showing STOX tokens being dumped on Bancor - https://etherscan.io/txs?a=0xF8462f886d7AabE4507Ad3776C9b2761F1eC1066

Stox respond: These are private transactions conducted by Moshe Hogeg on the secondary markets. These transactions are not related to his involvement in the company at all and were concluded independently.

A few more personal observations:

5. Stox has now around 26 active daily users according to State of the Dapps (current rank  #85)

6. Almost all collected Ether was withdrawn shortly after crowdsale:

Thanks for reading.

Thoughts?

STX
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garry
Nov 11, 2018

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