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Crypto Informer Profile picture
@cryptoinformer0
Jun 14 • 3 tweets • 2 min read Twitter logo Read on Twitter
Oh the Irony 🤣🤡

#Gold scams

forum.kinesis.money/threads/regal-… Image
Hmm... A Cayman Islands crypto exchange with no audits seems like a much better bet than Regal Gold doesn't it? 😂

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More from @cryptoinformer0

Crypto Informer Profile picture
Jun 13
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
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
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
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
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
Crypto Informer Profile picture
Mar 6
How honestly has Kinesis represented their audits?

Not very.

$KAU $KAG $KVT
How could we forget to highlight how many vaults had no scale (or no accurate scale)?

Page 10 & 11 - "Please note the scale used for measuring weight was not calibrated and was an ordinary kitchen-scale."

kinesis.money/resources/kine…
Read 16 tweets

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