If you have been following crypto news, you’ve seen quite a few articles alleging that Karatbars is a scam. Coindesk recently reported about Florida financial regulators investigating KBC, which sparked a snowball of negative publicity for the company. It’s only fair for a company to have a chance to defend themselves, regardless of the accusations. As such we decided to ask Harald Seiz, the founder and CEO of Karatbars International about the allegations. As I’m sure you are well aware, CoinDesk recently posted an article making a variety of allegations about Karatbars. How did this come about? Unfortunately, this Coindesk
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A growing list of cryptocurrency-themed projects has turned out to be complete scams. Most of those ventures are no longer around, although there are some exceptions. In the case of Karatbars, it seems things have begun to unravel in quick succession. The project is under investigation for a variety of reasons. Karatbars and its Gold Reserves Regulators in the US have taken offense to the Karatbars project. Not just because of its upcoming crypto bank venture, but also because there are a lot of factors which simply do not add up. The company behind this venture raised $100m through an 
Mr. Ponzi, thank you! In the 1920s, Mr. Charles Ponzi created a “financial company”, stating: “Lend me your money, and you will receive 50% in interest.” Thousands and thousands of unwitting people gave him their money amounting to a total of $65 billion. Nobody suspected that he would use newly invested funds to cover previous earlier depositors. This continued until there were no longer enough new depositors to cover the old ones. In the end, this “fairy universe” exploded, leaving many people broke and up against a wall. 100 years later, Karatbars founders have repeated the same story, but in