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eCharge, electric charging stations for electric cars, seemed to land in the cryptocurrency scene with a great concept. However, since it was introduced, it has been surrounded by mystery. Several claims of fraud have been made against the CEO of eCharge, Markus Dold, a german serial entrepreneur.
While the most worse and biggest claim of mr. Dold was, that he had gathered $40,000,000 USD during the ICO of eCharge which ran in 2018, and ended November 30th, 2018. The company eCharge claimed to list the token on 10 major exchanges, in December 2018th. While several concerned investors rushed the telegram channel, asking for clarification of Mr. Dold, he just replied with that they were busy finding a proper exchange.
What if I told you I have worked for eCharge myself? Actually I got in touch with eCharge through 1 ICO meeting in Holland, and was eventually recruited as graphic designer. During my two months of work, I noticed Mr. Dold was not transparent at all, and his claims of investments gathered during the ICO, where false. As we all know how etherscan and ethplorer work, it simply showed that not many investments were coming in. On top of the graphic design job, I also had access to the facebook page as "administrator". There I noticed more and more people, mostly from Dubai, trying to reach Mr. Dold, as he still had bills to pay.
During my 2 months of work, I noticed eCharge was attending many blockchain events and conferences. Mostly these people tryed to contact Mr. Dold through the facebook page, and wanted to know when he was going to pay for the promotional material bills, or design jobs, or even more interesting, unpaid electric scooters of the company immotor
. Besides that it seemed someone had access to the facebook and twitter account of Mr. Dold, posting strange messages on both platforms about bankrupcy of eCharge, and police investigations.
Then there also was the investor, Dan Bainbridge, who had invested $150,000 in eCharge during Pre-ICO. After doing some more research, he wanted his investment back, and asked Mr. Dold to refund him. Mr. Dold refused that, and blocked the poor fellow on social media.
So you can understand, after reviewing the company itself, I had to resign, so I resigned together with my colleagues at eCharge. Mr. Dold paid us $2500 a month in eCharge tokens, which were being sold during the ICO for €0,10 a token. He simply hired a new team, which he probably paid the same. Now 2019 has started, and I visit the eCharge group on telegram once in a while. A week or something ago, it came to my attention that his newly hired staff, also resigned from the company.
That lead me to visiting their website, http://echarge.io/ , and what do you think? Website went offline. What I did next, was visit the eCharge contract address on ethplorer, and after tailing some addresses, it came to my attention 600 ETH has been moved to this address:
https://ethplorer.io/address/0x24caee16ade94d40d0bdca54dd290e84d96432ae
This made me come to the conclusion, an exit scam is being prepared, or ongoing.
So I am still in touch with the former staff of eCharge, and we all have been in touch ever been, and I informed them about my findings.
What do you guys think?
hiveblocks