04 Apr '15, 11am

Bitcoin Alternative LEOCoin Linked to Suspected Pyramid Scheme

Bitcoin Alternative LEOCoin Linked to Suspected Pyramid Scheme

The latest bitcoin alternative to garner media attention, LEOCoin has so far trumpeted the more than 130,000 merchants that have allegedly signed on to accept it as payment. This claim, the headlines assert , suggests that LEOCoin is quickly gathering interest from an international community. However, representatives of the project have for more than a week been unwilling to provide support for these statements. Despite requests, LEOCoin has not provided a list of merchant partners or a white paper detailing the specifications of its “revolutionary” cryptocurrency. The silence on the matter takes on a new light when examining the history of project founders Dan Anderson and Atif Kamran. Both Anderson (sometimes spelled as "Andersson") and Kamran were involved in a suspected pyramid scheme, UNAICO Pakistan , an “IT development and consulting business” that was the subject o...

Full article: http://www.coindesk.com/bitcoin-alternative-leocoin-pyramid/

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