Following a spate of regulatory investigations over 2016, Turkish regulators declared Kairos Technologies a pyramid scheme in early 2017.
This all but spelled the end of the Ponzi scheme, which has been in steady decline since.
With investor losses mounting and no new money coming in, Kairos Technology has announced plans to launch an ICO.
Kairos Technologies’ ICO announcement was made on January 12th, 2018.
We are starting a full-scale ICO in order to attract investment funds which will allow us to modernize our project and attract new partners for the mutual integration of our technologies.
In starting an ICO for the sake of it, Kairos Technologies guarantees it’ll be worthless.
So why bother then?
We have performed a vast organizational work to find a way out of the situation that has occurred in the past, and we succeeded.
All the participants of KairosPlanet project are entitled to receive tokens from the ICO.
Tokens will be distributed in accordance with the level of involvement of each participant in the KairosPlanet project.
Which means that each participant gets an opportunity to exchange his current package, according to its nominal value at the exchange rate of ICO’s tokens.
The “situation” referred to is the collapse of Kairos Technologies and majority of investors losing money.
As above, Kairos Technologies victims will be given the option to convert their Ponzi balances to the company’s yet to be announced altcoin.
Because then Kairos Technologies can wash its hands of investor losses and walk away.
“You bought an altcoin, it’s not our fault the tokens aren’t worth anything!
Now excuse us, we’ve got an appointment with the local lambo dealer and your money.”
Since January Kairos Technologies have been cagey with specifics.
On February 20th the company claimed it was “launching a large-scale ICO” that same month.
On March 7th Kairos Technologies announced a “special offer”;
1. Every participant has the right to receive tokens on non-material basis, according to the value of active Package on 01.05.2018 (the exact date will be announced later).
For example, if a participant has active Package for $2.777, this means he has the right to get 2.777 tokens respectively.
2. Every participant has an opportunity to purchase tokens covering the payment with the internal balance account funds, on conditions that 10% of the nominal value of such tokens will be paid for.
For example, if a participant has $10.000 on his balance, such user has the right to get 10.000 tokens at the cost of $1000.
3. Every user has the right to purchase tokens according to the common rules described in ICO participation, having covered full price of the needed amount of tokens.
Point one just notes the conversion of invested funds into tokens.
Point two states Kairos affiliates will be able to convert promised ROI balances into tokens, provided they pay 10% of the amount converted in cash.
There’s no legitimate reason for this, other than to steal even more money from investors.
Point three states Kairos affiliates can purchase additional tokens with external funds.
The company also advised it had unblocked all previously blocked Kairos Technology affiliate accounts.
Why these accounts were blocked wasn’t specified but I imagine more than a few pertain to non-payment complaints.
Since March there’s been no news updates and the status of Kairos Technologies’ ICO is unclear.
I’d like to think Kairos Technologies victims saw through the sham and it didn’t go anywhere.
But in an age of seemingly endless cryptocurrency investors willing to plough money into any concept with a whitepaper, who knows.
N.B. Last year another company called “Kairos” announced an ICO.
This Kairos is a face recognition company. It’s planned ICO is for the “FACE” token and has nothing to do with Kairos Technologies.