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Scam2X On December 28

Scam2X On December 28

Just 8 days before the Launch of Segwit2x, on 8 November Segwit2x Fork was cancelled by Bitgo CEO, Mike Belshe and he stated that a consensus could not be reached and thus the fork is called off. However, only one month later it appears that the SegWit2x Bitcoin (B2X) hard fork will go ahead on Dec. 28. The B2X project, which caused months of debate and infighting among the Bitcoin community prior to its last-minute cancellation in November, now says it will fork off at block 501451. This block is due to be mined in around two days’ time.

The project’s Founder and Lead Developer, Jaap Terlouw, stated on their site that the fork aims to address issues of “commission and transaction speed within the Bitcoin network,” adding that currently, Bitcoin is “almost impossible to use as a means of payment.”

NOT The Same Team

It is very important to make it clear that this is not the original team behind SegWit2X.

A screenshot of their website team tab taken on 19 December shows Sairam Jetty as Team Lead Developer and Donna Khyuz as Business Developer while Jaap Terlouw is Founder of Project. Now the team has changed and  Sairam Jetty has been removed. This might have been in part due to the fact that Sairam Jetty did not even now he was part of B2X Team. Robert Szabo has been added as a Core Developer.

Jaap Terlouw’s LinkedIn states that he is “Main developer and advisor at segwit2x” although there is no record of his “developer” status anywhere else on internet. Jaap also has an ongoing petition where he is promoting his Segwit2x fork and wants it to get listed on various exchanges.

Donna Khyuz Business Developer of Segwit2x has a dead LinkedIn Profile, the interesting thing is that the image used is same as found on @donna_khyuz Instagram profile with her profile stating ” Crypto Developer, ICO & Blockchain Expert”. A quick look back using Internet Archive to see the same Instagram profile and she is listed as “Model, Dancer, Actress, Business Woman”.

Problems With the Concept

They will be pre-mining 2,000,000 coins (that makes 9.5% of total coins) even although this is not stated on their website.

The initial post by Jaap on stated in their roadmap that they will introduce ‘Ethereum Smart Contracts‘ in step 06, which you can still see on Internet Archive.

When asked about the above Jaap replied by saying:

“No, we have revised our plans, this won’t be Ethereum based smart contract. You can check our Roadmap now”

It’s highly probable this is a scam using the name of Segwit2x with no serious team behind the project. The date of 28th December is quite interesting in itself. It suggest that they are probably trying to take advantage of future contracts in the B2X name that will expire before the end of the year.



Cryptocurrency investor, researcher and writer

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