StarkWare Industries Not Planning Initial Coin Offering (ICO)


Many took to Twitter to express disappointment in StarkWare’s recent tweet, which went as follows: “StarkWare in NOT planning an ICO, as previously stated. We have no Telegram presence – buyers, beware of scammers!”

StarkWare is working towards improving two factors that are crucial for blockchains: scalability and privacy. Its role is to not only promote the use of STARK technology, but to also provide cryptographic proofs that are “zero-knowledge, concise, transparent and the obvious, secure”. As their goals revolve around two factors that many blockchain fanatics are trying to resolve, traders became interested in the project altogether – leading some to follow them on Twitter.

In the same post that StarkWare tweeted, a scammer left a comment suggesting a potential promotion. In particular, users are told that in order to participate, they are only required to send 0.5 to 10 ETH to a given address and in return, they will get 10 times back.

Someone who participated stated the following:

“Wow thank you, it came fast! First sent 3 after a few minutes received 30. Then sent 5 and received 50. This is really a huge amount. I’m still shocked and I want to know how many times we can participate? I still can’t believe this. I don’t know what to say! [insert image]”

Those who have seen the post above were surprised and confident that this promotion could really be legitimate. At the same time, those on Twitter are questioning StarkWare’s decision against ICOs and are arriving to the conclusion that they might be showing favoritism.

Here are some tweets that reply to StarkWare tweet:

https://twitter.com/bitcoincireis/status/998672409262809089

StarkWare is yet to reply to several of the comments being made. Regardless of what their reasons might be, the fact that they have taken the measures to ensure that traders do not get scammed is worth mentioning here.

Not only did they mention, “We are not conducting an ICO!” in their name on Twitter, but they also went on to pinpoint scams that currently exist. To follow StarkWare, go to: https://twitter.com/StarkWareLtd

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