Wethio Project is the new umbrella brand of a scam that has already been well established for several years through the Zynecoin cryptocurrency team.
Wethio a “remigration project”
A dangerous project based in Marrakesh is actually deploying a Tomochain fork to create a dedicated blockchain called “Wethio” supporting a political project of “remigration” from Europe to Africa.
This blockchain operate with a dedicated crypto-currency called “Zynecoin” and physical services with a club called “Tumaïni”.
History of ZYN Ethereum token
First step in 2018-2019 was to deploy an ERC20 token called ZYN based on a classical smartcontract and a private sale.
This private sale has began over simple Facebook pages and groups under the name “Zeencoin” changing for “Zynecoin” in 2019 after a badbuzz. Zynecoin’s track record of multiple bankruptcy in France, remigration and France bashing core values under this token made it a very controversial initiative by the first day.
A first redflag on this project is we do not know really the owner of “Zynecoin“. Is it APPLINUM SARL the mobile apps development company owned by Karim Benabdelkader also founder and CEO of “Zynecoin“? Funny to know this company was self-incubated by U5 in 2016, a previous incubator and remigration initiative already launched by him at his arrival in Morroco back from France…
This U5 company or association is exactly the same project than actual Zeencoin, a sort of “draft”. Today this project is shutdown and the 13k followers of the Facebook page are used for Zynecoin’s announcements.
Not a real surprise APPLINUM was not financed by Karim having a 1M EUR debt in France for his past activities…
ICO began with 7 rounds from $0.32 to $0.43, from February to June 2019. This was a total failure with less than 800 ethereum wallet created during this period.
Project was going nowhere loosing co-founder Mossaab Tazi, when a famous French influencer called “Dieudonné” was recruited to promote Zynecoin over his Youtube channel. A specific ad hoc round of token sale was created for this opportunity (sic) having a massive impact on the customers volume with an estimated 3500 wallet created.
A total of 5M tokens seems to have been sold during the private sale. “Seems” because nobody know the dispatch of the tokens, nothing was never transparently disclosed by the team. A new redflag.
A first exchange introduction at $1 in Novembre 2019 on Idax, an exchange well known for it scam token and coin introduction, was promoted by the team with a very sad conclusion for their community when Chinese government decided to close this company’s activities only some week after the quotation…
Using fake arguments like ethereum certification of the project,
A specificity of ZYN is people can buy directly by email, by passing the exchange and in direct competition of their own community allowing the team to continuously selling their 51M bag…
In parallel of the private sale, Zynecoin team has deployed a recurrent revenus model called “club Wethio” giving future discount on market price for a monthly fee in fiat subscribed by +500 customers.
New introduction on Bibox for the rest of the community end of 2019, another well known creepy exchange having 90% of fake volume with no fees bot access included in their token’s introductions agreements…
And of course volume grow suddenly 5th January with no specific reason (no usage, no technology delivered, no new signifiant investors) when Zynecoin new ethereum wallet stayed at his 50-100 per month level.
During this period Zynecoin’s founders main promise was a x1000 gain for the investors and delivering a dedicated blockchain called “Wethio” helping Africa’s development. This fork of Tomochain allowing the dispatch of mining commissions between African’s state, miners and ONG/Wethio itself.
An “incubator” of startup was supposed to be created in Marrakesh, nothing concrete today months after private sale’s ending…
Zynecoin and Wethio and Tumaini’s Bookmark
Better understand Zynecoin’s SCAM.
Zynecoin non official site
Wethio non official site
Zynecoin’s wiki : WikiZyne
Wethio’s official site : Wethio.me
Zynecoin’s official site : Zynecoin
Zyrri’s official site : Zyrri
Official Tumaïni (also known as Tumaini) website : Tumaini.fr
Zynecoin: latoken scam ponzi money laundering exit scam???
Focus spécial Zynecoin: le ZYN ou la tokenisation de la quenelle
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