DomRaider ICO , where is the €30+ Million?

Hello friends. Recently I came across an ICO that I was interested in investing in because it was related to my field of Domain Names. It was This is an ICO of company registered in France (yes I checked the Government database) that is aiming to revolutionize Auctions on Blockchain. They also claim to be best Domain Name Drop Catching platform in Europe since 2013.(Domain name drop catching refers to service of registering expired domains through automated bots in order to get domain as soon as it drops, before anyone else). But the interesting thing to note is that records of shows activity starting from June 2017 itself. In fact the domain Name was registered in June 2017 (WhoisInfo). Anyways let’s assume they were operating under different domain name. So my 1st question to their team is please reveal the domain and statistics of the domains that you guys Dropcatched.

Update : I got to know that they were operating under but archive result shows that it had only .fr Dropcatch. Probably DomRaider team can help clarify.

Moving on to the ICO part. DomRaider team have done a significant job in the pre-ICO sale itself where they sold 262.5 Million of their DRT tokens. Yes, absolutely possible because they have a huge list of Investors & Advisors on their website. They have received media coverage in major mainstream. Websites and on top of that their team even attends conferences and meetups. Great. But coming back to the token sale again they claim to have sold 262.5 Million tokens in pre sale at price of €0.10 . Now that’s staggering. Even if we consider that they had given 25% discount to every investor in pre-ICO they still have raised €19.6875 Million = USD 23.45 Million which is not a small amount. But then again considering their marketing efforts it seems possible.

At the time of writing this their ICO is still on and they have sold 338,118,973 Tokens so far and just nearing their goal of 350M token sale at €0.10 each. (Equivalent to USD 41.8Million ). That puts them under valuation of €100Million (USD 119Million) as they have mentioned in their Whitepaper that amount raised would be 35% of the stake of the company.

Let’s assume for time being that they have achieved this great feat. Then I started to search for the address of wallet where they would have stored the money.

To explain in simple words if you are selling an Item for X amount you must have received X amount from the buyer.

It’s just a standard method in ICOs done on Ethereum Blockchain to check their token name -> Scan through their Smart Contract and see the owners wallet address or the transaction address where the renumeration for tokens is being stored.(Website

But here’s the twist in the story. DomRaider does not have their token listed on and nor do they have a smart contract that can be accessed through Instead they run the smart contract in their Private Blockchain and there code repo is on GitHub ( . The problem of running Smart Contract on private Blockchain is that public does not have any access to transactions that are being done on that chain . So the owner of token as well as chain can easily perform whatever transactions they want on it (Because they haven’t made their Blocks Public) .

So now you can clearly understand where this is going. Let’s put all the faith that we have on their team and assume that they have raised the above mentioned amount , then I request the team members of DomRaider to provide us (General public who might be interested to take part in ICO and those who already took part in it) to please show the proof of money that you have raised with the Actual Ethereum Wallet address or Bitcoin Address or even the bank account statements that add up to the amount that you raised.

If you are able to show the proofs then it’s very good and I am sorry for causing pains to your team for putting that extra effort. But if you are unable to show the records then I request people in France to kindly report this to the right Government authority.

P.S: I guess they have legally covered themselves in the Whitepaper itself.

The Initial Coin Offering (“ICO”) project presented by the company DomRaider is an
unregulated fundraising operation. It poses several risks to buyers, in particular, that
of losing all amounts traded for tokens issued by DomRaider.

Also this :

DRTs will not be reimbursed in the event that the DomRaider Auction Service is
not ultimately developed, or does not operate on a permanent basis. DRT owners
acknowledge that this is a significant risk that they accept