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Crypto Fintech CEO Scams Clients in Fraudulent Exchange Listing

CryptocurrencyMay 12, 2021 06:31AM ET
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Crypto Fintech CEO Scams Clients in Fraudulent Exchange Listing

  • Anonymous sources are accusing a leading Crypto CEO of failing to meet his contractual obligations
  • A top Fintech listing company based in Hong Kong has also been implicated
  • The CEO runs several crypto ventures and enjoys high visibility in the crypto sphere

According to anonymous sources, Businessman Ng, one of crypto’s less illustrious sons, failed to meet his contractual obligations.

As such, the cryptopreneur and CEO is once again under scrutiny for his business dealings. Notably, crypto can be a very volatile asset. In addition, the crypto sphere can be treacherous waters to navigate, especially for new investors. With rumors and allegations of hacks and scams, it’s always advisable to only deal with well-known and trustworthy service providers.

As such, it is anyone’s guess why said CEO is still in business. Granted, his ventures are affiliated with top crypto exchanges like US-based Bittrex. Also, previously leading an exchange second only to Upbit in Bittrex’s Asian affiliations. As such, one would expect this CEO to be reputable and trustworthy, yet sources revealed to CoinQuora that this is not the case.

In fact, the CEO has been riddled with scandals and faced issues ranging from fraud to failing to meet contractual obligations.

Crypto Fraud or Misunderstood?

To clarify, Ng has his fingers in many crypto pies, including being the co-founder and former CEO of an Asian crypto exchange. Of note, one of Ng’s companies is Aladdin Fintech Company Limited, a Hong Kong-based listing agent.

In particular, Aladdin Fintech helps blockchains to list on major exchanges like Bittrex, Upbit, Bitfinex, and others. However, both Aladdin Fintech and Ng have earned a reputation for being unreliable in listing circles.

Also, the anonymous sources added that Aladdin Fintech often delays and drags out listings. Instead of being upfront and honest with clients, Ng prefers to offer excuses and false promises. To make matters worse, clients who attempt to terminate his services are faced with an uphill battle to get their funds back from him. One such client has been waiting for a refund since 2019.

What’s more, the CEO worked with top brands such as Yahoo, Tencent, and Rakuten. As such, it makes his nefarious business dealing all the more shocking.

Furthermore, Ng is the founder and Chairman of I-House Token (IHT), one of the first global blockchain real estate cloud platforms. This is in addition to being the co-founder of NASDAQ-listed iClick Interactive. Thus, to say he is misrepresenting crypto as a whole would be an understatement.

In recent months we have had the pleasure of witnessing unprecedented rates of crypto adoption. With top blue-chip companies like Tesla (NASDAQ:TSLA) and MicroStrategy taking crypto mainstream, the stakes have never been higher. As such, as a community, we have a great responsibility to hold to account those that tarnish the reputation of crypto.

Hold the Crypto Standard High

Not only that, we must gatekeep crypto and ensure that fraudsters and cheats do not continue to proliferate at the expense of the masses. As popular crypto analyst and YouTuber, Sheldon Evans put it, cryptocurrency is not a zero-sum game where only one blockchain can shine. Rather, crypto is a positive-sum game where if one platform rises, all of crypto rises on its coattails. Similarly, if one of crypto’s sons falls, he can drag the entire sphere down with him.

As such, we challenge all crypto lovers and stakeholders to hold high the standards and reputation of crypto. Also, keep in mind that the revolution has just begun. As pioneers, we must stand together for what is right and denounce every wrong. That is if we desire to see crypto flourish and take its rightful place.

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Crypto Fintech CEO Scams Clients in Fraudulent Exchange Listing

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