BHB Crypto Project ( Who Secured $20 Million Accused Fraudulent Founding Team

A new investigation performed by CoinDesk shows that the startup BHB has faked its founding team. There are some images associated with the founders that were taken from university professors. These individuals are currently denying the accusations.

Now, the project has taken down its website. The professors explain that they have never given permission to use their pictures. Moreover, the startup has also listed invalid contact details on their site. Although the crypto market is still in a bear trend, projects continue to attract investors with fake information and data.

The financial engineer was Bobby White, the blockchain expert David Chen and the product designer was named Gregory Moss. However, Bobby white seems to be Alexander White, an economics professor at China’s Tsinghua University. Gregory Moss is a professor at the Chinese University of Hong Kong and has also that same name.

Mr. Alexander White commented during a conversation with CoinDesk:

“Any use of my photo for such purposes, including attached to the name “Bobby White,” is fraudulent.”

Moss has also explained that he never gave permission to BHB to use his image to sell its products and services. The company has also provided false information regarding its phone number and its headquarters. The firm informed that it had an office at New York City 22/121 Apple Street.

There are also some concerns regarding how users would be dealing with BHB tokens. Investors will not be receiving or mining BHB tokens using programmatic means. It is only possible to buy these tokens use Tether (USDT) on XBTC or Chinese yuan, through WeChat groups.

The suspected founder of BHB, Renbing Li, explained that BHB is not a pyramid scheme and explained that the intention is to liberalize communities. According to data provided by XBTC; there have bee $21 million in BHB transacted for USDT.

According to the platform, over 25,000 individuals have already received dividends for their investment. Now, users have been complaining since February that the project has frozen withdrawal requests for USDT.

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