Thread by @HindenburgRes

In late February, we called $SOS an obvious shell game.

A new FAQ released by the company today, with some stunning admissions, makes this even clearer.

(1/x)

finance.yahoo.com/news/sos-respo…

https://twitter.com/HindenburgRes/status/1365359064465702914

We earlier noted that HY International, a purported independent seller of crypto mining rigs, shared an address with an $SOS subsidiary.

Today, $SOS admitted HY was a shell company set up to supposedly preserve the confidentiality of the seller.

Despite the fact that HY is a now-admitted shell company, $SOS looks to have set up its website claiming HY has a diverse array of products and services, and that it is the largest secondary seller of mining rigs in the world.

We noted that $SOS's acquisition target FXK was suspicious because it also appeared to have its website set up by $SOS.

Today: "After discussion among the Company's board of directors, SOS has determined for various reasons, not to pursue the transaction with FXK."

Note we had also pointed out that FXK’s entire website appeared to have been stolen from genuine blockchain company RHY.

RHY later put out a statement condemning the theft.

en.rhy.com/help/1146.html

Contrary to mining plays like $RIOT and $MARA which disclose rig locations, $SOS now opaquely claims its rigs are held in “various confidential locations” and relocated “from time to time” in order to take advantage of lower electricity costs.

Are $SOS investors comfortable hearing that $SOS rigs, bought through an undisclosed shell entity, are held at undisclosed locations, moved around without notice?

https://twitter.com/HindenburgRes/status/1365359064465702914?s=20