As speculation and impatience arises over the upcoming Bitfinex token sale, opportunistic fakers are creating bogus white papers that purport to describe the details of the upcoming sale.
“The white paper you all are seeing now is a fake one,” said Dong Zhao, a Bitfinex shareholder. The total amount to be raised is still 1 billion.”
What do these fake papers look like? We received the following document “in confidence” from a source and found it lacking in details. The language is also at once detailed and lazy with lines like “20% will be kept in reserve to cope with any emergency or unexpected situation that might come up” which suggests a lack of legal or editorial oversight – something no token sale can afford in this regulatory environment.