Eros.Vision ICO Goes Full Scam?
This writer warned investors of the Eros.Vision scam in the pages of Hacked.com not long ago. Now the project has come full circle, blaming another company, Eros.com, for its woes. Accordingly, there is actually a trademark complaint regarding Eros.Vision, and Eros.Vision is likely to lose to the trademark owner. The author has personal experience in this, having once registered SkunkWorks.space and had it seized by Lockheed Martin.
But that’s not really the meat of the scam issue, although it seems evident that not having a domain will be a fantastic excuse to never deliver the product (which carried with it about a million legal ramifications in the first place). The meat of this scam accusation lies in the fact that on August 5th the “team” said that the release of the Eros tokens had been delayed by a “few days.”
Now, ten days later, the tokens still remain in the hands of one token holder. (Not that anyone’s missing out. What are the chances a regulated exchange will list this token?)
The issue of retaining Eros as a title for the project is already settled. The irony of a company which is fomenting prostitution in markets where it is not legal expecting the legal system to help them violate a trademark is not lost on the author. Eros will not be the title of this project if it ever moves forward, as the trademark owners have already sought to enforce it.
Let’s play out the various scenarios in which they will exit with the money they raised.
Scenario 1: Legal Fees Exhaust Funds
In an effort to retain the integrity of the Eros.Vision name, we’re sorry to say we’ve exhausted all the funds on takeout and legal fees. Additionally, since we fought the infringement case and let it go to trial, we’re on the hook for KUIL LTD’s legal fees as well, or open to suit, or whatever.
Scenario 2: Nothing Further Is Heard
One wonders why they are still pretending that they ever intended to deliver the project at all, but a likely future for it is simply no more communication. A rude awakening is on its way for the creators anyway – look at what happened to the owners of Backpage.com, which didn’t even explicitly promote the use of the platform for prostitution by and large.
Scenario 3: Project Launches, Leading to Mass Arrests
If the entire thing were legitimate, who would want to invest and use the platform the most? Escorts, Johns? Nope. You guessed it. Law Enforcement will make tidy use of this platform in the execution of stings and other operations. For all we know, given the locale of the creators (Bay Area, where prostitution is definitely not legal), the entire thing was a clever honeypot operation, or all the funds raised were from law enforcement agencies.
Hard to say what will happen next, but the odds are definitely not on investors recouping a single cent of their investment here.