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Crypto Informer Profile picture
@cryptoinformer0
Mar 5, 2023 • 18 tweets • 11 min read • Read on X
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#KinesisMoney audit oddities

It's just amazing what you'll find if you actually read these audits

Is 1 equal to 2.5% of 252? 🤔😕

How "random" are those samples if the same bar was chosen twice?

Pages 13 & 14

kinesis.money/resources/kine… ImageImage
More duplicate serial numbers

Pages 7 & 8

kinesis.money/resources/kine… Image
Aren't these bars supposed to be selected at random? How do you get the same three bars twice?

Is somebody just being lazy?

Page 4

kinesis.money/resources/kine… Image
Seriously?

Page 9

kinesis.money/resources/kine… Image
One of these looks like random sampling and one doesn't. Can you tell the difference? ImageImage
100-101 is a difference of 0.01 not 0.001 Image
Hol up

Is 3 2.5% of 918?

These two samples don't look random...

Pages 14 & 15

kinesis.money/resources/kine… ImageImage
Why is the "ABX Subaccount Type" a secret?

"The total aggregated quantity of ABX Gold and Silver bullions"

ABX gold and silver? Wasn't it suppose to be Kinesis gold and silver?

Pages 20 & 21

kinesis.money/resources/kine… Image
Audit: "We looked at it, it looked OK"

Kinesis website: "independent auditors perform a series of assessments to ensure the weight and fineness of the bullion is as stated, and the quality of the storage is satisfactory"

kinesis.money/audits

Page 21 kinesis.money/resources/kine… ImageImage
Again?

😲🤯

Page 23

kinesis.money/resources/kine… Image
That's not random

Page 4 & 5

kinesis.money/wp-content/upl… Image
Is 3 2.5% of 756?

Pages 7 & 9

kinesis.money/wp-content/upl… ImageImage
Where is the attached excel sheet?

Page 31

kinesis.money/wp-content/upl… Image
Does the Kinesis mint reuse the same serial numbers on gold bars of different weights?

Page 49

kinesis.money/wp-content/upl… Image
How is this inventory list supposed to be interpreted 👇

Page 33
kinesis.money/wp-content/upl… Image
👆Is all this work ISO 9001:2008 compliant @isostandards @ISOSecGen @bureauveritas

It seems kind of sloppy and inconsistent

iso.org/standard/46486… Image
There's more 👇

@isostandards @ISOSecGen @bureauveritas

Same refinery, same bar type, different serial number format?

Page 33

kinesis.money/wp-content/upl… Image

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More from @cryptoinformer0

Crypto Informer Profile picture
Sep 8, 2023
@ParrotCapital After the fact that Kinesis had shifted more than 2/3 of their gold to Turkey and converted much of their LBMA holdings to non-LBMA Kinesis branded bars, they stopped reporting the distribution of their assets between vaults.
@ParrotCapital Stranger still, despite all the fanfare about Kinesis "big Indonesia project", none of their "audits" have ever indicated any gold stored in Indonesia and Indonesia specifically requires LBMA gold.

@ParrotCapital Read the audits for yourself and note that Kinesis continues to misrepresent ABX "audits" as Kinesis audits



kinesis.money/audits
Read 6 tweets
Crypto Informer Profile picture
Jun 13, 2023
Disninformation Derek is on a roll today

Kinesis' BS "blockchain" is fully centralized and fully operated and controlled by Kinesis. They change the code at will. Bitcoin it is not.

ABX is "audited" Kinesis is not.

forum.kinesis.money/threads/joe-br…

Image
ABX's "audit" doesn't even provide details on which vault stores which assets or the gross or fine weight of these assets.

Totally worthless "audit"

As of Jan 2023 (the last audit provided location detail) KInesis was shifting most holdings to Turkey.

Read 12 tweets
Crypto Informer Profile picture
Mar 7, 2023
How can a "decentralized* blockchain" forget to pay out the yields?

*not really but Kinesis says so in the whitepaper (pages 3, 6, 23)

kinesis.money/resources/kine…

Is Kinesis the company really claiming they are not a "central authority" at the center of their "monetary system" and their "blockchain"?

🤣🤡

If they are not a "central authority" why do they have to take some action to ensure the yields are paid?

kinesis.money/resources/kine…
If Kinesis is not a "central authority", how can they "freeze accounts" and "freeze assets" in their "monetary system"?

Read 4 tweets
Crypto Informer Profile picture
Mar 7, 2023
What's this?

Why are Kinesis Money users complaining that they haven't received their February yields yet?

There are blockchain transactions related to Feb 2023 yields on Mar 1 2023

explorer.kinesis.money/account/GCO75U…

How can the payout lag by a week or more?

forum.kinesis.money/threads/yields…
What happened to this?

"Through Kinesis blockchain wallet technology, our users – whether an individual or organisation – can easily send digitised physical gold or silver anywhere in the world, with settlement times of just 3 seconds, 24/7."

securities.io/thomas-coughli…
The February fees look a little thin

1448 $KAU ($85,822) + 807 $KAG ($21,257 ) = $107,079

This is down over 98% from the peak

The peak was over $6 million, reached in April 2021

Does this look like a growing "monetary system"?
Read 4 tweets
Crypto Informer Profile picture
Mar 7, 2023
No that would be another Kinesis promise broken

$KVT yields were to be paid by the end of 2021

They're now 16 months in default on that

And what about the $KVT buy-back program?

Any news on that?

forum.kinesis.money/threads/yields…

kinesis.money/resources/kine…
5% of revenue* to date is about about $1.2 million USD. Has Kinesis spent $1.2 million USD buying back $KVT?

They're still giving $KVT away in exchange for creating artificial volume on their exchange and even selling some in a one-way market *claimed

If there was an open market for $KVT and the price dropped below 5% of "listing price" (whatever that is), Kinesis would be on the hook to spend 20% of revenue or almost $5 million USD to buy back $KVT

kinesis.money/resources/kine…
Read 6 tweets
Crypto Informer Profile picture
Mar 6, 2023
Look at that, the Kinesis community found still more Kinesis Money audit oddities!

forum.kinesis.money/threads/my-not…

A 100 gram bar was recorded as 10.967 ounces (341.112 grams)

Page 4 👇

kinesis.money/wp-content/upl…
dsr7654 didn't realize that 1,000 ounces silver bars don't weigh exactly 1,000 ounces

However, he or she points out that they did weigh 1,000 ounce bars

Page 51 & 52

kinesis.money/wp-content/upl…
This begs the question, why were none of the 974 1,000 ounce silver bars stored in Liechtenstein weighed?

That audit report is missing the "weighment" section entirely

That vault stores more than 1/3 of the silver

Pages 55-57
kinesis.money/wp-content/upl…
Read 4 tweets

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