We have already recently issued a warning against the Initial Coin Offering (ICO) of the Austrian REALTO Group. This real estate company aims to raise around €1.2 billion from investors via the REAL-TOK (RLTO) issue, promising to revolutionize the real estate market. The operators of the REALTO Group are Peter Kilian, Thomas Wagenhofer, and Lukas Koch-Hochmuth. The ICO was launched a few hours ago via the P2B Crypto Exchange. Stay Far Away.
The REAL-TOK ICO Launched
Cryptocurrencies are highly speculative, and among the thousands of circulating tokens, many must be qualified as scams. Investors should inquire about the operators before investing in cryptocurrencies or crypto projects.
On Nov 1, 2023, at 11:00 am, the REAL-TOK ICO launched on the P2B Crypto Exchange (screenshot on the left). The REAL-TOK ICO is already remarkable due to its size and deserves an extensive review. We recently published it here and added the ICO to our black compliance list.
Read our compliance review on the REAL-TOK ICO here.
The REAL-TOK Red Flags
Here again, are the reasons for our Black Compliance rating and warning:
- No regulatory approval: there is no regulatory approval for the issuance of the REAL-TOK (RLTO) tokens, which one must qualify as a security token.
- Fake collateral: the whitepaper does not explain how the alleged real estate projects will actually serve as collateral for the tokens. The real estate belongs not to the issuers but to an Austrian monastery.
- Criminal records: Some people behind the ICO have criminal records for fraud, are involved in tax evasion cases, and are known for their aggressive methods of taking money from people (Source: here).
- Ridiculous promises: the promises of risk-free, quick wealth are completely unrealistic in the crypto environment. No token issuer can promise that the token will explode in value and demand will be strong. These are promises made by Ponzi schemes and scams.
- Poor Standing Issuer: The white paper mentions REAL-TOK LLC in Tbilisi, Georgia, as the issuer. This company is controlled by REALTO Immobilien GmbH in Vienna and REALTO KFT in Hungary. These companies have hardly any equity and are under massive financial pressure with their real estate projects.
The issuance of the tokens will run through the P2B Crypto Exchange until the end of November. A listing on this exchange is then scheduled to take place on December 1, 2023. In our assessment, there is a high probability that regulators will take action against REAL-TOK or the P2B Crypto Exchange.
Share Information
If you have any information regarding the REAL-TOK ICO, its issuers, and facilitators, please share it with us via our whistleblower system, Whistle42.
