Velix.ID Pre-Sale Paused After Raising $1.4 Million — to Improve Security

3 min readFeb 2, 2018

We would like to inform all our stakeholders & community members that the Velix.ID pre-sale 1 has been paused after raising $1.4 Million USD, and the rest of the token-sale has been postponed.

At Velix.ID, as a business, we have always focussed on building a genuine product that helps solve real-world problems. As such, we also want to ensure that we prioritize the security & integrity of our token sale platform above anything else.

We value the trust that our investors have put in us by investing in the Velix.ID token pre-sale, and as such, we want to make sure that all investments are kept secure, unaffected from any security breach attempts or phishing attempts.

It has been brought to our notice that many potential investors have been duped into phishing scams, on Telegram and elsewhere, with scamsters pretending to be from Velix.ID team and creating usernames remarkably similar to the actual core Velix.ID team members. A total loss of more than 50,000 USD for the investors has been brought to our notice, from the people who got misled by the scamsters. Other attempts such as false airdrops in our name being announced have been made. All of this has happened in spite of our best attempts to prevent as many scams as we could, and keep a vigilance over them in our alert section.

The breaches happening with other Blockchain Startups and their token sales are another major cause of concern that has pushed us towards take this somewhat extreme step. Many Blockchain Startups, such as BeeToken & Experty.io, have had data breaches that have cost them and their stakeholders Millions of dollars. Even with our own system, we have been facing multiple security breach attempts, although, we have managed to prevent most of them successfully other than a few minor phishing scams that went through in spite of our best attempts to prevent them.

Heeding to the words of our Advisors, who come with overwhelming experiences in the Blockchain Industry & security experts, we have decided to take the step of postponing the rest of our Token Sale to a later date. We will be conducting multiple Security Audits during this period to ensure that our systems are secure from any maleficent attempts.

However, we would like to assure that we are not sitting idle during this period, and a lot of exciting things will be happening at Velix.ID as we further improve on our product. In fact, as we speak, multiple new advisors are getting confirmed, including experts from the identity space (our token utility) and the blockchain space. The latest additions to our advisories have been Professor Simon Choi, who has been an advisor to trade.io, covesting, and Asset Token, and Manan Mehta, who has been an advisor to PundiX.

The Smart Contract is deployed and the MVP is out on Google Play Store. We will always keep making updates to our system, and keep all stakeholders & community members updated at all times about any latest information. We would also like to thank everyone for such an amazing response to our pre-sale phase I, and for believing in Velix.ID. We also apologize to anyone whom this decision might have inconvenienced.

The phase 2 of the Pre sale will be announced soon, but will however be exclusively available to the Velix.ID community members only.

Our Smart Contract Details are as follows:

Etherscan URL:

https://etherscan.io/token/0xfdfD5dB568f2eCF9b06a16116B9201b0500735B4

Smart Contract Address:

0xfdfD5dB568f2eCF9b06a16116B9201b0500735B4

Symbol: VXD Decimals: 18

To reiterate, all our official communication channels are :

Website: https://www.velix.id/

Telegram: https://t.me/velixID

Telegram Moderators: @neerv @vxdmod @cryptokin @cryptoinspector

Twitter: https://twitter.com/VelixId