Disagreements at Concensum

Concensum, formerly Copytrack, has apparently made inaccurate statements in its white paper and may have deceived investors. CLLB attorneys represents damaged Investors

Munich, Berlin 27.07.2018: Another planned success story on the crypto market does not seem to meet investors‘ expectations. Concensum, formerly Copytrack, is a company that prosecutes copyright infringements on images on the Internet.

Concensum’s declared goal is to create a global copyright register, displayed on a blockchain.

In order to raise the necessary capital, Concensum PTE Ltd, formerly Copytrack PTE. Ltd., based in Singapore, conducted an ICO from 10 December 2017 to 9 February 2018 and offered the company’s own CPY token to interested investors. A so-called „pre-sale“ took place on 10 December 2017 and the main public phase began on 10 January 2018.

The CPY token was advertised with a whitepaper describing the business model and the economic and financial framework of the ICO.

It is doubtful whether the economic and financial framework conditions of the ICO and the Concensum are correct.

The company history presented in the whitepaper begins in 2015 and shows the most important successes of the company. For example, the company is expected to start operations in 140 countries in April 2016. According to some investors who have since contacted the law firm CLLB, this is probably absolutely incorrect, since Concensum PTE Ldt., the company that issued the ICO, was only founded in October 2017.

Concensum also listed employees who were not working for the company or were no longer working for the company at the time of the ICO.

Against this background, it is doubtful that Concensum has the business operations described in the whitepaper at all and can even achieve the goals set out in the whitepaper.

In the whitepaper, the roadmap also provides for the establishment of a foundation for the global copyright register. The capital generated by the ICO should be used as foundation capital for the establishment and thus secure the existence of the global copyright register for a specific purpose and independently.

However, Concensum is no longer talking about a foundation.

The token swap from CPY tokens on the Etherium blockchain to CPY tokens on an in-house blockchain announced in the whitepaper is also a long time coming. This swap was announced for the second quarter of 2018, but is now at the end of July 2018 and there is no information on a planned date for the implementation of the swap.

Here, too, investors‘ trust is being criminally exploited.

Investors concerned should have their legal claims examined by a specialist lawyer for capital market law. The Kanzlei CLLB supports concerned investors with the enforcement of their demands.

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Über den Autor

István Cocron ist Spezialist im Bereich der Beratung von Start-Ups und Unternehmen, im Gesellschafts- und Kapitalanlagerecht sowie der Vertretung von Versicherungsnehmern. Er besitzt umfangreiche forensische Erfahrung und hat bereits etliche Großverfahren für Anleger und Verbraucher aus dem gesamten Bundesgebiet betreut. Rechtsanwalt Cocron beschäftigt sich zudem seit mehren Jahren mit den neuesten Entwicklungen aus dem Bereich der IT, insbesondere den Themen Blockchain und Cryptocurrencies. Er besitzt langjährige Erfahrung im Bereich der nationalen und internationalen Zwangsvollstreckung, ist Mitglied mehrerer Gläubigerausschüsse sowie nationaler und internationaler Vereinigungen von Juristen. Rechtsanwalt Cocron ist Gründungspartner der Kanzlei CLLB Rechtsanwälte.
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