Vitalik Buterin Indirectly Criticized BitClave ICO Team

Vitalik Buterin took out to twitter and cautioned people to stay away from frauds like BitClave ICO team, which uses selfie as promotion.

As we all know there are many ICOs launched every week and one of the recent ICOs is BitClave. They are developing Decentralized Search Engine and recently launched an ICO.

In a post on Medium “BitClave Token Sale Update”, they posted an update, which has a pic with Vitalik Buterin (Ethereum founder). They did not mention anything about the image and used it as a form of a promotion to sell their tokens in the ICO.

Vitalik Buterin tweeting about false practice by BitClave Team

However, Vitalik Buterin today tweeted and cautioned investors against such false tactics and asked them not to invest any single Ether with such ICOs.

Please do not put a single ETH into token sales that show a selfie with me to signify endorsement when in reality I barely know who they are

— Vitalik Buterin (@VitalikButerin) September 25, 2017

He further showed the pic of the same blog post (removed name to indirectly mention) to point that BitClave used such tactics.

Content of the article does NOT mention me at all. pic.twitter.com/vUWlozfLCA

— Vitalik Buterin (@VitalikButerin) September 25, 2017

He even went on to say that:

“I suspect many interpret it as “cheating just a little” in the Ariely sense. Need to change norms to move it to the “cheating a lot” bucket.”

Overall, it seems like the founder of Ethereum is not happy at all with such events. He earlier cautioned investors about the ICO bubble and said that “We Are in a Bubble, A Lot of Projects Will Fail”.

Investors should be very careful while investing in any such projects. One should always do a proper analysis before investing and should only involve in growth oriented projects.

Cheers!

Featured Image Credits – techcrunch, flickr