Is Bittrex’s IEO company RAID a legit organization? Announcement refutes any RAID links

Blockchain by Blockspectator News  | 1 year ago
3 min read

Blockspectator announced a couple of days back that Bittrex will be joining Binance Launchpad’s lead and introducing their own Initial Exchange Offering (IEO) platform.

The project which would be holding the token sale was RAID, and investors can purchase XRD tokens using Bitcoin through the Bittrex platform.

However, since that official announcement, there have been several new facts emerging which may be of concern to potential new investors planning to participate in the IEO sale.

Coinspeaker have discovered that in Bittrex’s initial announcement, the company issuing XRD tokens will be a Singaporean Company called ERAID PTE. LTD.  However, Coinspeaker were unable to fund further information on the company via the official Singapore company regulatory authority ACRA official website.

Further several companies were using ‘Raid’ and ‘Pte Ltd’ in their names. However, there was no official or LinkedIn information accessible to those companies.

Earlier today OP.GG, a company which provides real-time analytics to games such as League of Legends and Overwatch, released an official statement, decrying any links to RAID as false, even pursuing legal action:

“OP.GG has stopped all potential business discussions related to RAID project, and there will be no economic and technical cooperation with RAID coin. Also, OP.GG has no intention of developing any blockchain related business utilizing RIOT GAMES data. OP.GG will take all possible legal measures against individuals or organizations disseminating false facts related to this. Thank you.”

ICO Drops further released a timeline today of the events since Bittrex’s official announcement:

“12/03/2019 – Bittrex announced an IEO project RAID. This is an OP.GG project in partnership with Riot and several other large companies.

13/03/2019 – Riot and several partners officially announced that there is no partnership with RAID.

14/03/2019 – OP.GG made an official statement that is no partnership between them and raid.

Be aware! All the announced partnerships are fake!”

With all the supposed ‘partnerships’ all officially denying any relationships with RAID, there have to be strong suspicions around the entire situation.

Are Bittrex simply doing what they can to capitalize on this ‘IEO’ hype by any means necessary or has this been a misunderstanding?

Regardless, there are sure to be a long line of investors who will be looking to take part in the IEO tomorrow.

UPDATE: Bittrex have cancelled the IEO. A tweet read:

Trust and integrity are the most valuable assets of Bittrex International. As a result of significant, last-minute changes with RAID, we have cancelled the IEO offering of the RAID token. We apologize for the inconvenience. We will provide a more complete statement shortly.

Source