The Latest ICO Scam… is Fake?

TydeCoyn purports to be a Canadian blockchain startup offering individuals the chance to invest in a “cryptocurrency token that marries tourism promotion and environmental activism.” The website claims TydeCoyn tokens can be used to pay “dozens of tour and trip operators in New Brunswick.” It promises investors “rates of return on each pre-ICO token at 85%, with that number expanding to 115%.” It also claims each purchase of Tydecoyn tokens “automatically sends a portion of the sale amount to one of several participating wildlife foundations or organizations.” There is even a YouTube video that claims the project “presents a new way to make tourism sustainable.”

So far, this sounds like the marketing campaigns of a lot of ICOs, which often promise to use blockchain for some type of local engagement (tourism, local guides) combined with profit potential (“tradeable” tokens) and a contribution to the social good (supporting wildlife foundations).

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