What Those Malcolm Tan Scam Victims Do (And You Should Too)

Posted by Natashia on April 22nd, 2021

Attorney businessperson Malcolm Tan Chun Chuen has started many companies, wanting to go into retirement with a net value of 0 million. Immediately after graduating with law from NUS Singapore, he created and worked as a practising lawyer at the Keystone Law Firm. Simultaneously, he also established OurSpace, FundedByMe.com, Wine Bonanza, Museo, Phoenix Telecommunications and an ICO/ITO advisory agency. All of these business entities are unified under Gravitas Holdings which he has privately funded with million. In 2017, he reported to have gained a million value of investment portfolio.Another thing that appears to be somehow scammy in Malcolm Tan's ICO of Aexon. Aexon's tagline and description keeps talking about something termed the ‘ActivBM’. Malcolm Tan boasts that ActivBM has attained million in ARR (Annual Recurring Revenue). Logically speaking, how can any product or service, let alone an digital product, attain such an ridiculous ARR without a operating web page, nor any employees. Bluesky Group Pte Ltd. is being referred to multiple times, but they also do not possess a operating web page nor any proof of what they speak about.Law Society of Singapore Disciplinary Committee has brought out a full investigation into the alleged frauds undertaken by Malcolm Tan Chun Chuen, the Singapore lawyer-turned-entrepreneur. He was charged and later found guilty of a breach of a rule of conduct under the provisions of the Legal Profession Act (Cap 161) due to inappropriate conduct or practice. He was reprimanded and asked to pay up the expenditures of all the legal proceedings and to return the dollars to the scam victims.Certainly one of Malcolm Tan Chun Chuen's project, KingSwap.io was being repeatedly promoted by various compensated shill accounts on Reddit. However, skilled Redditors quickly exposed KingSwap as nothing more than a rip-off, and they urged everyone to avoid from this scam project. A senior Reddit member referred to Malcolm Tan's KingSwap as "probably one of the laziest Chinese shitcoin rip-offs I've seen in a long time". This is because it has all the following list of huge red flags: shills spamming on Facebook, bot shill spewing on Reddit, bot shillage on Twitter, yet another dime-a-dozen clone/fork of Uniswap that is providing nothing new of benefit, awkward logo design with a unusual burger king vibe taking place, having to constantly reassure potential victims with post titles of "[NOT SCAM]" "ACTUAL LEGAL ENTITY", "NOT FAKE" to demonstrate they are not a scam when obvious scam. One other early investor of KingSwap came to a alarming Malcolm Tan Chun Chuen KingSwap realization that the endeavor is not governed despite what they falsely claim. Through the Telegram group of KingSwap, he's sure that Malcolm Tan is most definitely the CEO instead of just a consultant for KingSwap. If he was aware that Malcolm Tan was disbarred from his law firm and is a recognized financially criminal person, he would not have invested his hard earned cash, but it's too late now.There are quite a few furious investors who go on to Twitter to reveal Malcolm Tan Chun Chuen's $KINGSWAP as a massive scam. Although KingSwap repeatedly say to be the "First Regulated DeFi Project by the Monetary Authority of Singapore", having said that, more evidence indicates that KingSwap has only sent in the request for MAS for licensing and their application is still under review. This indicates they are not regulated as of this moment, and KingSwap is only doing false promotion. Investors who signed up with the KingSwap telegram group were stunned to discover that one of the members of the organization, Malcolm Tan Chun Chuen was disbarred in 2020. Anytime an individual brought up the topic, the moderators will quickly defend him by telling participants to quit judging him on his previous mistakes, proclaiming he is a big time investor & entrepreneur. The KingSwap telegram moderators attempted very hard to shill the endeavor by proclaiming it will reach to 0 with 1B total supply despite the fact that the existing price is --content--.01. The KingSwap venture hasn't even been posted on coingecko or any other exchanges, 2 months since its launch, which is a enormous warning sign. The KingSwap team stated that coingecko desired 2 btc to list KingSwap, which is a total lie. They also state that they have raised a total of m from investors to inject into liquidity pools. However, a look at on the liquidity pool only displays about 0k. The trading volume level is also ridiculously small that coinmarketcap halted showing any data about KingSwap's market cap and volume. Warning, if you buy $KING on kingswap.io , you are not allowed sell your tokens as they are locked for an unknown period. If you try to buy it on Uniswap alternatively, you'll have a great losses when you want to sell because there is too little liquidity on the market.