Blocksims ICO Investigation Report

Over the past week a lot of information has been put online about the Blocksims ICO, and the claims of fraud. This report will attempt to set the record straight for anyone considering investing in Blocksims ICO.

In 2017 Mobilink-Coin (MC) hired a contractor by the name Shehar Yar. MC contracted Yar to build them a new website for their upcoming ICO, and to do the programming of their database.

Later that year the project was dragging out, and Yar kept asking for more money. He finally presented the client with a mockup of the site, however practically nothing worked correctly, and the site was a mess. The client started doing some research, and found on their server files from another company by the name of UTrust.

Here is a screenshot of what was sitting in the root directory of the MC site

What this shows is that Shehar Yar basically cloned another ICO website, and tried to pass it off as a fully custom site. When MC discovered this, of course they fired Yar from the team, and the project. This is fraud plain and simple, and MC is taking legal action.

In January of 2018, just a couple weeks after being fired from the project, an ICO called Blocksims launched their own website for a new ICO at blocksims.io. This site is a virtual copy of the site Yar was trying to fraudulently pass off as a custom site to MC.

In addition, Yar stole MC’s member information from the database Yar had access to when he was on the project. Blocksims then started sending emails to MC members, trying to get them to invest in Blocksims scam ICO. Here is a screenshot of just one of those emails.

Yar then had the audacity to post in public forums that MC stole the design and idea from Blocksims, which is preposterous, as you can see from this screenshot showing that Yar was on the MC team prior to launching his fraudulent ICO.

With just over 1 week until Blocksims ICO launches (my guess is there will all of a sudden be a delay so they can try to get more money from unsuspecting investors), but they have started posting videos that look convincing until you pull back the curtain. Blocksims claims that Elias Rodriguez is an expert and advisor for the ICO.

 

They claim he attended Imperial College London, and his field of study was “Inertial Confinement Plasma Physics”. An investigator discovered that Elias Rodriguez did not even attend Imperial College London. Furthermore, a representative from the College stated that in regards to the study of Inertial Confinement Plasma Physics, it really does not exist as a curriculum, the representative from the college actually laughed at the idea.

 

The truth is that Elias Rodriguez is basically an actor trying to give Blocksims some legitimacy.

We hope that if you have been contacted by Blocksims, that you do your own research before you even consider investing. If you find what we found, we encourage you to contact the Securities and Exchange Commission at www.sec.gov

Thank you for reading this report.