Symmetry Fund: Making Exposure To The Cryptocurrency Market Simple. (Read Warnings)

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  • This is not financial advice this is our opinion.
  • Investitin.com staff are not financial advisors.
  • This is not a buy, sell or hold recommendation.
  • Do your own research before you invest in anything including this project.
  • This article/interview is not a suggestion or an endorsement of this ICO.
  • This article/interview has been published for free and has not been commissioned by anyone.
  • Investitin.com staff have participated in this ICO, although this should not be taken as a recommendation to participate or not. We have invested a sum we can afford to lose.
  • Your capital as at extreme risk and you can lose it all when investing in ICOs and cryptos.
  • Investitin.com does not have the resources, the means or the expertise to verify to what extent the information below is correct.
  • An anonymous user has made a detailed report about the possibility of this being a scam, I have suggested to Symmetry to make a youtube interview to discredit these claims. If they do I will add a link to this video here. This could also be FUD, always do your own due diligence.
  • Update 27/01/2018: – The Symmetry telegram group has been shut down this is a red flag. Please be careful out there.
  • Please discuss this with your local financial advisor before you invest.

 

The symmetry interview has been removed, pending the claims against it being a scam are cleared.

3 COMMENTS

  1. Conclusion: I did like this ICO at first sight and felt inclined to invest. I did my due diligence and found so many red flags that I won’t invest and earmark this ICO as a SCAM, one of the most convincing ones I’ve seen.

    Let me give you a list of red flags that I’ve built up:
    all linkedin team member profiles seem to be rather new, no recommendations present although the got “polished up” quite a bit over the past weeks
    names of individuals show nothing when searching the with Google (apart from LinkedIn & their own site). So nobody has a social profile or any other coverage? That’s weird for a team that claims so many years of finance & investment experience. The answer I got from Andrew in the Telegram group was: “We are coming from old fashioned, traditional financial institutions, most of us never had or have social profiles, we just don’t use them. We avoid SM as much as possible. You can search for any recognized fund manager with German background and you won’t find a thing. It’s normal. You are welcome to join us in Dallas, TX on Feb 16-18, BTC/ETH Super conference to meet all of us.”. Conveniently after round 1 of the ICO closes.
    the one time they were supposed to show up, in Dubai (jan 9th 2018, Dubai International Blockchain Summit), but nobody was there. They claimed “we didn’t pay on time”, really?
    if they really are fund managers/investors, they probably have Bloomberg for stock rates etc. Like linkedin, Bloomberg is searchable and no Andrew LEWIN shows up. When a friend asked Andrew about it, he got banned from the Telegram group.
    other critical sounds are not welcome: two critical reddit posters got banned from the Telegram channel too
    if the team has worked in Zurich (CH) in finances, there is a good chance they had to be registered (like a bankers oath), none of the team members show up: https://zh.chregister.ch/cr-portal/suche/suche.xhtml
    website of symmetry itself is registered through a hosting/DNS lookup protecting construction (Domains by proxy), so is fully anonymous – https://www.whois.com/whois/symmetry.fund
    if you look at the code of the website images, they don’t have person names but e.g. advisor-2.jpg and team-1.jpg. That feels weird, most other sites I checked had more meaningful filenames like andrew_lewin.jpg etc. That is what this guy spotted too: https://bitcointalk.org/index.php?topic=2480514.msg28390839#msg28390839
    I emailed Polaris Investors AG, the company of the advisor “Mike Henkel”. Their quick reply was “We were not aware of the fact that apparently people are using our name on Linkedin. This guy seems to be a fake and does not work with us. Honestly, I would not touch an ICO where a guy claims to be an advisor if he uses firm names randomly”. And I got a kind remark that they would short SYMM Smiley.
    though connections, EPAM’s HR department stated there was no Vladimir Savochkin there
    their source code in Github is available, but the person who made the first commit (almost all the code) is gone – no account there anymore, just a name: Waqas Khokhar https://github.com/symmetryfund/symmetry/commits/master
    Check on the Cayman Islands chamber of commerce for Symmetry Fund: no such company – http://web.caymanchamber.ky/directory/results.aspx?Keywords=symmetry+fund
    I haven’t seen a photo of the whole team together, which would make sense if it’s just a collection of modified stockphotos. You wouldn’t start a 4 million USD business without knowing each other, would you?
    A friend talked to the lawyer Mykola on Skype. He is real and does consulting for Symmetry, even got paid for it. However: he never saw any papers and never met anybody in person, just gave advice. So again, nobody has seen Andrew & his team.
    The fund meter shows 4000+ ETH collected, although only 900+ ETH show in the address where the ETH is sent to. They claim in their Telegram that the rest came in as BTC from early investors, but that’s nowhere to be found.
    Check the photo under this medium post: https://medium.com/@irfanmuhammadsyamsularief/investment-with-the-symmetry-fund-f5abafde425 -> all advisors have been changed. The full COSS team was there, now it’s two/three people that can’t be found in real life. From COSS I got back: “I am not an advisor of that ICO and I don’t have any link to it.”
    The advisor named Leah Kronshage was removed from the English site. When asked about it on Telegram, Andrew stated: “he is an impersonator”. Weird though, if you switch the language of their site to Korean, Leah is still there…

    How many more red flags do you need?

    My thoughts:
    this is a SCAM, set up by a small core group
    nobody has ever seen him/her/them/it in person and people asking questions about that are banned from the Telegram group.
    They really know their business: they show in their website and in the Telegram group quite a bit of knowledge on the crypto world, so are convincing.
    they did hire (and pay) some external parties to make the ICO look more legit, but none of those parties has ever met any of the ICO core team. Examples are Mykola and a guy I talked to that was paid to be a community manager.
    they are getting better as they go, slowly improving their scam game, involving more external people and even paying those external people. That’s a good business lesson: you have to spend money to make money.
    They started slow, but as the ICO got picked up by some ICO rating sites and gave them more legitimacy. It’s basically only self-confirmation: none of these sites really checked the team members or spoke to anybody in person.

    So I’m sorry for the people who gave them their money, you can follow it through their smart contract on the ethereum blockchain: https://etherscan.io/token/0xb54da0854f41396886eb728e0f8082382281f84a . They will probably kick me from the Telegram channel and try to remove this post, but hope I saved you some ETH.

    https://bitcointalk.org/index.php?topic=2480514.msg28957307#msg28957307

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