Responding to a user query in the main room who was skeptical about the legitimacy of this entity.
The name itself has the word 'qubit' in it.
Which subtly implies that the project is suggesting that perhaps it possesses quantum-resistant cryptographic primitives.
However, this says nothing about the veracity of the project itself, so let's dig in to some extent.
At the time of writing, the project's website is wholly inaccessible (from any browser, for whatever reason).
This is a bad sign...objectively.
Clarifying What is Meant
In hindsight, I realize what I wrote above was a bit opaque.
In specific, when I state that their site no longer works, I am referring to the following:
This means that there is someone that's hosting a web server on whatever IP address is assigned to 'qubittech.ai' that has elected to leave the site up & merely post "Forbidden." in lieu of any other content (why?)
More information about the server itself is provided in the screenshot below:
Internet Archive Machine
Fortunately, there is an entity on the internet called the 'Internet Archive Machine'.
Internet Archive MachineAs the name suggests, the 'Internet Archive Machine' hosts archived versions of web pages.
These archived snapshots in time are taken periodically with the numerous 'spiders' (web crawlers) that they instruct to traverse the web and archive websites. The Archive Machine is a non-profit entity that has been in existence for well over a decade at this time.
They are also one of the very few entities that have managed to beat an FBI-mandated gag order (sent as part of a 'National Security Letter' ; look it up)
The fact that there are only two dates in the picture below means that:
This was never a frequently visited website. Hell, there may not have even been a soul actually spoke comprehensively about its existence in public at any point.
Despite all that was stated above, that means that there is a possible that there was some sort of event of significance in, about or around one of the two dates (July 15th & October 2nd, respectively).
Let's take a look at the oldest date first (July 15th, 2020)
Website Comes Up in Full
I was able to pull up their original site here :
This makes it infinitely more likely that their main website was taken offline (didn't want to adjudicate any earlier than I had to).
*Specific 'Internet Archive Machine' link can be found here = https://web.archive.org/web/20200715132243/https://www.qubittech.ai/
Continuing On With Our Assessment
The marketing is extremely gimmicky on their page.
The Clear Ponzi Scam
Here are the reasons why this is a ponzi and a fraud (was able to detect this within seconds):
- There is a 'profit calculator' where users are able to determine the approximate amount they will gain (commensurate with whatever was deposited). Specifically, the screenshot above has a chart on its right hand side that shows users receiving 25% of their investment back...
- All of this is supposed to be premised on success trading in the markets. Apparently, the 'quant' algorithmic bots that they have are supposed to provide this guarantee. Returning to reality here, this is nothing more than pure science fiction. There are no 'guarantee's on the market.
This is why benchmarks exist.
This seals it:
There are more than likely no less than 100+ frauds that are registered at that address.
Harju maakond, Tallinn Kesklinna linnaosa, Roosikrantsi tn 2-1275, 10119
Digging For Deeper Connections
At this point, we know that 'Qubittech' is a fraud - but I'm curious to see what (or who) else is associated with them.
Sidenote: There is a process called 'Google Dorking' that users should quickly become familiar with if they want to conduct a lot of effective research in a really short period of time
Stumbling Upon the Project's Whitepaper
A link (appears to be safe ; this is hosted elsewhere - use a sandbox / isolate if you are unsure) = https://docplayer.net/amp/191780846-Contents-1-0-introduction-2-0-about-qubit-tech-3-0-products-of-qubit-tech-1-1-the-past-present-and-future-of-the-cryptocurrency-industry.html
In it, are some interesting connections that can be made here.
I've taken the liberty of outlining the major ones below:
Those names (parsed out below) are:
- Binance & Bitfinex (they do not claim that there is some sort of mutual partnership / understanding here, but this entity's reliance on those two exchanges specifically is something that I definitely found interesting)
- 'Equinix' (specifically, Equinix Data Centre) ; claimed they were "undoubtedly among critical elements" of Qubit Tech's success
- Embily Processing Centre: "Which Qubit Tech uses to issue and service Qubit Tech MasterCard."
- "EZ365": "uses the transparency, and immutability of blockchain technology to create a unique experience for customers in online"
- "DBS Bank" (this one was very interesting)
First, Taking a Look at Toridion
This company is mentioned several times in the 'QubitTech' whitepaper (which we outlined above).
So, I decided to take a look at just these fellows were.
Specifically, they were mentioned as a provider of 'Quantum Technology' of some sort (no real specifics were given, of course)
A cursory Google search provided me with a direct link to their website (which can be seen below)
Notably, scrolling through their webpage, I saw the following notice:
"Latest security alerts and notices: Recent QubitTech cryptocurrency video scam notice [more info]"
The more info link take us here = https://www.toridion.com/page/Partners-and-Outside-Collaborations
Toridian Renounces QubitTech
Following the 'more info' link from above, we're lead to the following page:
Curiously, Toridion doesn't give me the vibe that they're on the up and up either and I'm not sure if I buy the theory that Toridion is mutually exclusive in any appreciable manner.
Where Toridion Fucked Up
Remember the statement that Toridion made, claiming that they had zero affiliation with QubitTech?
Appears that there's clear evidence for that being bullshit as well.
Check out this YouTube Video link: https://www.youtube.com/watch?v=XdCJ-cRJyDo
Reviewing the Link
The content, which was published on July 14th, 2020, features:
- Greg Limon (CEO of Qubit Tech)
- Scott Forshaw (Co-Founder of Toridion)
Wait a minute!
Didn't Toridion state on their website that they had nothing to do with QubitTech? Interesting.
Also, it is worth noting the third caller that's on that video named, 'Per Lind' has a byline description of his role as, "Advisor at Oubi Tech, Co-Founder of Toridion"
Video has been extracted, downloaded, hosed & archived for future reference since it seems to me that they simply skipped over this video in their rush to remove any and all perceived ties between the two.
Conclusion (But Not Really)
This article is not finished! Did not want to label this as 'part one' ; but it certainly is far from what anyone should ever consider to be "over".
There's a smoking gun here (as there tends to be whenever we're speaking on Estonia).