Watch Out For Fake Bitfinex Whitepapers All Over The Internet

Bitfinex, the popular cryptocurrency exchange has recently run into some trouble. As the days inch closer to Bitfinex’s upcoming token sale, there is an increase in speculation and conjecture in the market.

What is troubling is that allegedly, some scammers and fakers have been circulating a fake and rubbish white paper all over the internet, in various chat rooms. These white papers seem to be giving out false information regarding the upcoming token sale.

Now the reason that these scammers are going to these lengths, is to scam potential buyers out of their cash. By releasing a fake white paper with incorrect token sale details, the scammers are looking to exploit potential buyers and scam them.

Dong Zhao, a Bitfinex shareholder said:

“The white paper you all are seeing now is a fake one. The authentic white paper is not yet released. The name of the token is called LEO, not BFX. The offering accepts USDT, not BTC or ETH. The total amount to be raised is still 1 billion.”

You can check out the fake white paper, which has been uploaded by a Scribd user named John Biggs. The white paper lacks details and contains false information.

It also contains the the bios of the Bitfinex founders, which look like they have been copied from the original website and reproduced in the paper. On careful inspection one shall also realize that the language is not up to the mark.

This is a general cautionary piece to alert all potential buyers out there, to be alert and not fall into the trap of such fake scams. You can expect to find legitimate details only on the authentic website and social media handles.