At Bitfalls.com, we recently covered BitWhite (previously Bitcoin White), exposing them as a 100% scam project.
Apart from directly copy pasting other people's source code and changing the license without permission or attribution, they also stole all of the original project's documentation - typos, mistakes and everything. They had an "ICO" and "airdrop", which makes certain people think they're not a scam, but most don't pay attention to the fact that most of the recipients of this "airdrop" were actually the team members (or member - since the "team" is actually one person in a lot of masks).
Since our publication, the project has rebranded as BitWhite and changed their website's layout, but they also took additional steps to pump up their scamcoin's value (unsuccessfully):
They announced that the "US Treasury was backing them", which is a) ridiculous and unprovable and b) illegal and provably false. If you look at the documents they presented, as screenshotted below:
It's obvious that they date to April 6th 2016 and have nothing to do with the project. In fact, these documents and the claim that surrounds them have nothing to do with the project whatsoever. They are effectively equivalent to grabbing Elon Musk's SpaceX bill for rocket fuel out of the trash and posting in on a project's website, then claiming "here is proof that Elon bought rocket fuel with our coin". Unfortunately, the US Treasury isn't exactly willing to reply to tweets and they don't reply to emails very quickly, so they still have to officially refute this, but I imagine they also don't have time to deal with this nonsense as any project can say this and they would have to refute each one. If you're in the US, feel free to call the toll-free numbers on US Treasury's contact site and ask about this - we did and the US Treasury confirmed in the phone call that this is 100% false.
They announced a partnership with Global Fiduciary Group Dubai. This group immediately responded on their official website and on Twitter and exposed these claims as false (if you don't see the warning after visiting the website once, clear your cookies then try again):
All in all, Bitwhite is a dangerous scam project which needs more attention before they draw in more innocent people and rob them of their money.
You can see the original post in which we expose them here: https://bitfalls.com/2018/02/27/bitcoin-white-new-crypto-scam-horizon/
Please share this post to raise awareness about these criminals - the sooner we remove them, the sooner we can have cleaner and more legit crypto ecosystem. By defrauding people this way, they are casting a bad light on the whole industry and harming it in a great way. Joining these scammers can be slightly profitable in the short run, but will harm the whole industry in the long run - let's clean up our own space before regulators have to step in and do it for us. Nobody will like that.
