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Ethereum [ETH] worth $2.5 M pooled by Ian Balina, Chromaway ‘advisors’ entangled in ICO allocation mess

Shahrain KM

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Ethereum [ETH] worth $2.5 M pooled by Ian Balina, Chromaway ‘advisors’ entangled in ICO allocation mess
Source: Pixabay


Recently, Chromaway tipsters, in a letter to the cryptocurrency community, warned users of the enormous farce pulled off by Chromaway, a blockchain technology company. The letter also mentioned Benn Godenzi, and Ian Balina as part of the fiasco.

The controversy began on 23rd August, when Ben Godenzi, a cryptocurrency advisor and the Co-Founder of Interoperability Alliance, went on a rampage on several Telegram channels to refute the claims made by the tipster that an individual in the Chromaway network received an allocation that amounted to $2.5 million or 7K ETH. Godenzi was soon called off on his claims and accused of falsifying information as users discovered the truth of the matter on 25th August.

Ian Balina, a blockchain and cryptocurrency investor, advisor and entrepreneur was found holding a 100% unlocked allocation of around 7,000 ETH [about $2 million] on Etherscan. This suggests that the tipster’s claims that Balina had pooled $2.5 million were correct. Balina, in his reply to the accusations thrown at him, posted a message on Telegram saying:

“Everyone here needs to stop this mental masturbation. Our tokens are locked and yes we have a huge allocation because we will be working closely with the project. If you have any issues with any of that, you are free to take your interest elsewhere. No one is forcing anyone to participate in Chromaway.”

The fiasco took a turn for the worse, when Alex Mizrahi, the Co-Founder and CTO of Chromaway disregarded what the platform had done in order to get their ICO to a total of 55,000 ETH. Mizrahi on his official Twitter handle said:

“Or you do realize, I don’t care? Our goal is only to collect money to finish the development of the platform. We don’t care about hype, people making OTC deals, etc. If they can profit from it, it’s their right.”

Chromaway in their response to the allegations hurled at them, stating:

“It has come to our attention over the past 24 hours, certain individuals have targeted Chromaway/Chromapolis in a concerted FUD and scam campaign. Firstly, we were notified of an email phishing campaign sent to potential token sale contributors, with emails coming from Chromaway.”

Chromaway further added:

“While this is frustrating for the Chromaway team and our users, we urge everyone who has received these emails to do their due diligence and if in doubt to check any details with @OrperelmanChromaWay to be 100% safe and secure in the information you have received.”

The entire scenario has led the cryptocurrency community to speculate that 100x advisors are reselling their token allocations to smaller pools for markup.

Jason Mo, a Twitter user commented:

“Allocations are being sold in my network at a premium. It fits the narrative that “advisors” got cheaper allocations for shilling and are now trying to dump their bags on the secondary market.”





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Shahrain KM is a writer at AMB Crypto. Her curiosity in Blockchain technology and Cryptocurrencies has led her to be a part of the news reporting team of AMB Crypto. She does not hold value in any cryptocurrencies currently.

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