SISHUB visiting KICKICO: timeline
Hi all! KICKICO team met with SISHUB in Moscow on 5th of June. We tried to ask all important to our audience questions. We were talking about trust, law and conceptual issues. Specially for you, we present a summary of the meeting. You can watch the video: https://goo.gl/vfU4SS
Artur Andonis, CEO & Co-founder
Vladimir Groshev, COO
Michael Lyabin, CTO & Blockchain Developer
Some of the SISHUB programmers came from the Darknet. They were hiring other programmers, so-called clean, publicly known coders however they still have low-profile programmers from the Darknet. There have been some changes in the team. The publicly known programmers will do the development, but so-called dark programmers will do all of the testing for vulnerabilities.
Stolen $ 150K (9:42)
Anton Kudayev was working as CTO and the head of the customer support department in SISHUB. He conspired with some of the clients and promised them bonuses in exchange for tokens. In reality, he didn’t sell anything; it was one of these behind the scenes dealings, where he started to steal money before the pre-sale stage. There are two criminal cases in Russia and Israel. He faces up to 15 years for stealing customers’ money. By the way, according to SISHUB, all investors got their money back.
Initiation of the criminal case (23:37)
Many countries don’t recognise tokens as property. Did you face any problems when you initiated legal proceedings?
There were two types of cases. Those customers whose money was stolen were mostly from Russia. The legal proceedings that started in Russia dealt mainly with customers having their money stolen. Israel has a very secure crypto ecosystem, and they immediately initiated legal proceedings.
SISHUB did not receive the stolen funds. The company compensated all those losses from their own pockets.
Investors’ funds return guarantee (30:10)
SISHUB work with a legal company that organises all paperwork and works on TSA. SISHUB say it is their first ICO and they are ready to choose another legal company if there is a necessity from KICKICO side.
SISHUB add that everyone will get their money back even if the company doesn’t reach a soft cap.
Soft cap change for the pre-ICO stage: from 1000 ETH to 300 ETH (40:17)
SISHUB say that soft cap was 1000 ETH when Anton Kudayev was CTO. The soft cap was decreased shortly after he left. SISHUB changed their vision and pointed out that they have already raised 30–40% of the required amount.
SISHUB promise to choose another legal company. According to them, it is the first time they hear about the right to request information about the customer’s bank account as well as the balance on the credit card. SISHUB denies the fact that they can without giving any reason assign costs for conducting AML / KYC procedures to the customer.
Website and Telegram-channels change (01:02:00)
SISHUB planned to update and improve the website before the ICO. They decided to change everything where ex-CTO was involved including the website and social media channels.
What is the unique advantage that will drive the token forward? (01:08:30)
At the pre-sale stage, the price of the token differs from ICO price by 2.5 times. SISHUB have five areas of the project, and the audience of all will grow meaning that the price of the token will grow as well. The user pays for the bytes of the data transferred — nominal subscription fee — $ 5 per year.
CEO’s bio (01:22:30)
Artur Andonis was born in the USSR and moved to Israel at the age of 10. He worked as a Marketing Director in the telecommunication company. Then he worked in Kirby in Ukraine. After that, he was the head of one of the largest medical centre in Israel. He was not involved in the treatment processes but was in charge of strategy and management.
What’s the difference between SIM and Telegram (01:40:49)
SISHUB have a different product named SIM. It has a decentralised network while Telegram has a centralised one. Attacking Telegram’s server is easy. SIM has secure file exchange system. At a corporate level, there is a lot of need for such product.
To sum up, we decided to meet SISHUB after our community voted for the project. We wanted to discuss the controversial points because SISHUB have been assigned a high risk. However, during the discussion, we noticed that SISHUB was not ready to answer all of our questions about the legal company or ex-CTO. Nevertheless, they tried to be open and honest.
We would like to ask you to think about current issue and see whether you want SISHUB at KICKICO or not.