фото показано с : invezz.com

The upcoming $AITECH airdrop could be another well-orchestrated scam that could cost investors millions of dollars. A person familiar with the issue wrote to iNvezz with details about the token and its creator.

AITECH is an upcoming blockchain project founded by Paul Farhi, a well-known player in investment scams in the UK. According to AITECH’s website, Farhi describes himself as the founder and head of international operations. He also says this about himself:

“Initially focusing on Property & Fine Art, Paul’s trajectory changed when he was introduced to Bitcoin in 2015, igniting an unwavering passion within him. From that point forward, he never glanced back.”

What Paul Farhi fails to mention is that he orchestrated a well-known scam in the UK known as Park First. This scheme encouraged thousands of people to invest in storage units and airport car parking and earn a 14% return within two years.

The scheme became a hit and attracted thousands of customers and 230 million in funding. It then fell into liquidation and the firm was forced to pay 25 million pounds by the FCA. The FCA described the scheme as an “illegal collective investment scheme” that used misleading statements.

Notably, Paul Farhi was mentioned in another scheme known as Allansons Growth Market, where customers lost over 20 million pounds.

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AITECH, the company started by Paul Farhi, is now raising $8 million from investors ahead of airdrop, which is scheduled to happen on August 24th. Through online marketing, AITECH has become popular in social media, which has seen it gain over 158k Twitter followers. A look at its Twitter page shows that the company is now operating in Dubai, a place with lax regulatory policies.

According to its white paper, Paul Farhi’s Solidus has built a large High-Performance Computing (HPC) data center located in the European Union. It aims to provide this infrastructure to companies that are leveraging artificial intelligence and other cloud computing features. It will use the Artificial Intelligence as a Service (AIAAS) model, which will be powered by the AITECH token.

Solidus will have four revenue streams: AIAAS, Blockchain-as-a-Service, AI marketplace, and HPC power. $AITECH is designed to license these services, reward users, and DAO governance.

As we wrote here, the number of crypto scams has been rising in the past few years. This increase has been supported by lax regulations in the sector.

The post AITECH airdrop could be another scam by Park First founder appeared first on Invezz.

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