Overview of the allegations:
It is alleged that Invacio showed us the perfect recipe for creating scam ICO: pick a fancy technology such as Artificial Intelligence, populate a website with a massive amount of content to confuse the audience, claim something vague like ”making a better world”, lure investors into a pump and dump scheme to achieve the soft cap of the ICO, discharge as many coins as possible when the ICO starts.
It is suspected that the Invacio project contains nothing real, has nothing in place, and shows nothing beyond the hype. It is alleged that the ICO was just made to subtly raise money.
Apparently, there are many posts exposing this Invacio story in the media and even group chats titled ”Invacio scam” or similar, this class action is a chance of funds recovery for investors of the ICO and Pre ICO stage.
This class action is accepting class members
It is alleged that Invacio promised to “… solve problems for businesses and consumers with the help of AI technologies.” They allegedly claimed they would do this primarily via the use of a super-smart, stealth-developed AI known as ‘Jean’, capable of making highly accurate market predictions with ease.
Allegedly, these claims were later revealed to be falsified and fraudulent, as to this day Invacio is apparently yet to reveal anything that they originally promised their investors.
Allegations have surfaced that they overpromised and severely underdelivered, willingly soaking in the funding from their ICO then cutting ties, dumping on the market and alienating their investors.
The company stated: “We’ll solve the world’s most complex problems through intuitive AI”, but it is alleged that the management and development team apparently working on this project were investigated and found to have little-to-no experience or ability in the required fields.
It is alleged that the token has no viable utility in place and is worth almost nothing. Reports suggest that the platform has never been realised. The team allegedly claimed the platform was in development for five years, but it is suspected that they have nothing to show for it. Investors have reported that the basic foundation for this ICO was to fund the development and betterment of their AI but a year after the ICO, nothing exists.
It is also alleged that Invacio would never have succeeded in this market, as their intentions would be overshadowed by larger and infinitely more successful companies, such as Amazon (AWS), Microsoft (Azure) and IBM (Watson).
Invacio stated that the funds would be used as follows:
Product Research and Development: 40%
Infrastructure and setup costs: 23%
It is alleged that almost every aspect of this list hasn’t ever come to fruition, particularly the section concerning product development.
At the high point of the ICO, the value of one INV was $1.40 (4th Stage), owing to Invacio’s strange tiered ICO system. At the time of writing, the value of the token is approximately $0.0279, a drop of over 98%.
It is reported that INV is nothing more than an industry-standard ERC20 token, apparently overhyped and under-delivered. It is alleged that Invacio AI do not have any innovation and built their token using this standard simply for the reason that it can be easily and quickly listed in the markets.
Investors allegedly report that Invacio is one of the most comprehensive failures of the 2018 roster of ICOs. The value of their token dropped to 95% almost immediately after the ICO, and now sits at a total decrease of over 98%. Reports suggest there are almost too many red flags to count where Invacio are concerned, from the lack of legitimate claims or evidence to large token bonuses implemented early on to drive FOMO.
it appears that all social media linked to Invacio has plummeted in terms of updates and in some cases have ceased to exist altogether. It is alleged that Invacio Mods were actively blocking any consumers asking questions on social media and even went as far as to remove the Telegram channel altogether, shutting out around 10,000 users.
Investors also reported that Invacio AI had no intention to release any viable product and took the proceeds of the ICO to line their pockets.
If you have been financially impacted by this ICO, join this class action with confidence.
- MR. WILLIAM JAMES DALRYMPLE WEST
Approx. funds raised:
At a glance:
– 98% drop in value
– No developments
– No market liquidity
Rating from allegations:
Invacio has not replied to this post yet.
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