Workchain.sale is a Scam ICO and Has No Connection With Our Company WorkChain.io

It’s come to our attention that a company also named Workchain (to be referred to by their domain Workchain.sale from here on) is running an ICO -- and it’s a scam.

Not only is it a scam, but it’s successfully conning thousands of people out of millions of dollars and it’s doing so with impunity.

Proof that Workchain.sale ICO is a Scam

Naturally, on discovering a fellow blockchain company of the same name running an ICO, we became interested and looked into the project, at first simply out of curiosity.

As our research into the company deepened, it became increasingly clear that the company and the highly profitable ICO they are running are a scam. 

Here is a sample of the evidence that points to the fraudulent nature of the company:


1. The “Team” Profiles are Real People but have Nothing to do with an ICO 

The first thing we did was click on the LinkedIn profiles of the supposed team behind the workchain.sale ICO. Each of them is a real person but clicking their LinkedIn profiles revealed a multitude of inconsistencies.

The individuals' titles are different, there is no mention of an ICO or blockchain technology on any of their profiles, and each LinkedIn profile is tied to a UK “work solutions” company of the same name that clearly has nothing to do with an ICO.

Plus, many of the alleged team members have been working at the UK Workchain company for years, yet workchain.sale has only existed since March this year.

These are all real people:
https://www.linkedin.com/in/adamhinkley/
https://www.linkedin.com/in/ryan-bloore-2b09b468/
https://www.linkedin.com/in/laura-harris-45962ab2/
https://www.linkedin.com/in/tiffany-biddle-
https://www.linkedin.com/in/janna-rogers-6aba7988/
https://www.linkedin.com/in/gareth-wardle-722247113/
https://www.linkedin.com/in/jeremyflight/

They appear to have messed up when trying to copy Jeremy’s profile though as the real Jeremy they link to doesn’t look like the one on their site, at all.

2. We Contacted the People they have Listed as part of their “Team” and they Confirmed their Identities Have Been Stolen

To further investigate our suspicions, we contacted each of the owners of the LinkedIn profiles shown to on the workchain.sale website. All have confirmed that this project is a scam, their identities have been used illegally and has nothing to do with the real UK company Workchain.

A statement we received from the person identified as the “CEO” of workchain.sale, who in fact works for Workchain.co.uk:

“...It is a scam. We don't know who is conducting the activity but they have been reported to the relevant authorities."

We have confirmed that every person depicted on the workchain.sale “Team” section has had their identity stolen. And this can be easily verified by cross referencing their LinkedIn profiles  or through the company contacts we have at our disposal.

3. They Claim to be a Legitimate UK Company of the Same Name

Not only has workchain.sale annexed the identities of people working at Workchain in the UK, but they have stolen the company’s entire identity.

The two site feature the same address and VAT information and the company branding has been copied and modified only in color for use on workchain.sale.

We have categorically proven that the two companies are not connected by contacting the CEO of
Workchain.co.uk as well as the company’s main helpline.


4. There is Zero Promotion from the UK Company Who Are Supposedly Behind the ICO

What’s striking is that WorkChain.sale and WorkChain.co.uk are supposedly the same company. Yet, the latter which is a legitimate company makes no mention of the ICO in anything they do.

This is evidence that Workchain.co.uk, a reputable company operating in the EU, has no connection with the ICO because, if they did, they would promoting it heavily via their corporate website and social media channels


6. Their Whitepaper is Near Word-For-Word the Same as Blockchain Company Ethearnal

Ethearnal is another blockchain company that recently launched their ICO. Like workchain.sale, they're also targeting the freelance market and workchain.sale has blatantly plaigarized Ethearnal’s whitepaper, further demonstrating the the project is illegitimate.

https://ethearnal.com/ethearnal-whitepaper.pdf
https://workchain.sale/whitepaper_workchain.pdf

Take a look at these excerpts from each, side by side:

Real ‘How it works’ - Src ethearnal

vs. the scam workchain.sale copy:

Real ‘How it works’ - Src ethearnal


vs. the scam workchain.sale copy:

Clearly the workchain.sale whitepaper has plagiarized Ethearnal’s whitepaper. 

The two whitepapers can be downloaded here [LINK] and here [LINK] and viewed in conjunction to clearly see that the two are nearly identical.

The Damage Scammers Cause to the Blockchain Movement

This scam shows the dangers of investing in anything without due diligence, especially in ICOs.

That said, these scammers are sophisticated. And, with all the excitement around ICOs and cryptocurrencies, it’s no wonder people can fall for this type of deception. 

According to workchain.sale they have already conned people out of 1039 ETH. But the ramifications for our emerging cryptocurrency and blockchain industries goes beyond this single case of deception.

Scammers like this are the ones that can destroy the reputation of cryptocurrencies and negatively impact the entire movement. In the eyes of many in the mainstream, cases like this are exactly why they think cryptocurrencies should be shut down.

It’s the type of nefarious actions that brings government regulation and intervention closer – the antithesis of what decentralization is all about, and a handbrake on the adoption of cryptocurrencies.

If You Believe In Crypto, You Have A Part to Play

Every one of us involved in the emergence of blockchain and cryptocurrencies has a duty to speak up against these kinds of scams. 

Sure, this one specifically in our interest because it directly attacks our company. But this isn’t the first ICO scam we’ve identified, and it won’t be the last.

The reality is, if we don’t take action scammers will continue to pop up, steal from thousands of people and disappear with their pockets filled with dirty money.

Fortunately, the crypto and blockchain industries are becoming increasing vigilant, and their are many great resources for spotting a scam, and what to do about it:

Investopedia - How to Identify Cryptocurrency and ICO Scams

Medium - How to Spot an ICO Scam in 5 Easy Steps

BlockGeeks - How Not to be Scammed by an Initial Coin Offering

Crypto Slate - Seven Key Signs of an ICO Scam

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