Response to Cointelegraph

After Cointelegraph published an article stating that Togacoin was added to a ‘Scam Blacklist’ by Consob, we contacted the staff. This is the email sent by Co-Founder Luca Puppi. We believe that our contributors deserve to know what is going on and how we are dealing with this accusation.

“To whom it may concern,

My name is Luca Puppi, I am the Co Founder at Togacoin and I am contacting you in regard of an article published today about our company, in which was stated that we were added to a ‘scam’ blacklist by the Italian Consob. We were quite confused about this article, and frankly disappointed with Cointelegraph as we previously thought that it was a serious News source.

Back at the end of October, Consob issued a warning in which they asked us to suspend the offer of our Token to the italian public (‘as a precautionary method for 90 days’ was said by Consob), unless we solicited an authorization. As was requested, we asked our hosting provider to block all italian IPs in order to avoid any further trouble. The 90 days are coming to an end and as we had already decided (back in October) to suspend the sales to the italian public, therefore we did not request the authorization in Italy, they had decided to make what was meant to be a 90 days suspension, a full prohibition. And we were absolutely fine with it, until we came up with an article from you.

The article mentioned that we were featuring a revenue calculator ‘that promises a return of 239% in one year, a 654% return in three years and a 33-page whitepaper’. We have a disclaimer RIGHT ABOVE the calculator: “PLEASE NOTE that all illustrations and examples are based on estimates and must not be considered a promise or a guarantee, or a purchase/sale offer of titles. Take into consideration that the following calculations were made when the Bitcoin price was $8500, as this price varies daily it is impossible to keep the calculator updated constantly. For more detailed estimates and calculations, see our White Paper.’ Assuring that we are PROMISING something is a plain and simple lie. The only thing that we guaranteed are payouts during the crowdsale, which we have successfully done without missing a single one.

It is incorrect to call this a ‘Scam Blacklist’ because there is no such thing. Unauthorized does not inherently mean SCAM We have been working very hard in order to reach our Softcap and make the project happen, it is already hard enough with a bear market. We have full support from our Contributors and we haven’t missed a single payout since we started our ICO. It’s damaging that you didn’t take the time to do proper research and actually contact the company and the people involved.

Cointelegraph is the most important news source for crypto enthusiasts, that has an inherent responsibility with what and how information is shared.”

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Our business model is part of a new generation of mining operations, which is climate-friendly, less subject to the fluctuations of energy price.