Category Archives: Instawallet

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Former Paymium Owners Imitating to Launch Illegal ICO, an extremely reputable Bitcoin wallet, exchange, and block explorer, has filed a complaint in U.S. Federal Court to combat, which is essentially using their name to launch an illegal initial coin offering (ICO). is operated by Pierre Noizat, the same person who owned Paymium and Instawallet, which went out of business during a possible exit scam in 2013.

Paymium operated Instawallet, Bitcoin-Central, and Paytunia, and during 2013 they claimed that Instawallet was hacked and they would be re-building their security infrastructure and then re-opening. However, they never refunded any users, certainly never re-opened, and disappeared. This was combined with a failure to respond to user’s requests, especially the simple request to see a police report, which Noizat originally said had been filed. Many Instawallet users and other community members think Instawallet is an obvious exit scam.

Now the former owner of Paymium and Instawallet, Noizat, is happy to put his name on as the owner, which raises suspicions from early Bitcoiners who have not forgotten. The site uses a similar domain name, similar logo, similar color scheme, and a similar motto, making it look like its actually owned by has received numerous inquiries about whether they are running the ICO, especially since in social media channels is pretending to be In order to protect their reputation, is going to court before this ICO starts. As of 23 September 2018, there are 3 days until the ICO.

More indications that this ICO is a scam are says they registered with the Securities and Exchange Commission (SEC), which is required under law, but found that they didn’t register. This means anyone who invests in the ICO won’t be allowed to legally trade the tokens. Also, has reviewed the technologies offered by, and says some of them don’t exist. All signs point to a scam that is trying to use’s likeness and reputation to trick investors.

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