Ilgamos Keeps Offering ILGON, on What Terms?

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On social media and in the newsletter of Ilgamos you can find information that Ilgamos offers ILGON so that the partners receive their purchased cryptocurrency only virtually.

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The newsletter of Ilgamos shows that the purchased ILGON is blocked in an internal web office system. How much ILGON is out there at the market? There is no information about the token circulation, and the only offering channel for the investors is through Ilgamos.

There is information about distributing the tokens on the ILGON website, but nothing regarding how Ilgamos International Ltd. plays a part in it.

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Who might be the so-called angel investor? The question is how and under what conditions Ilgamos purchases tokens that are resold to its partners.

Recently we were informed that WhiteBit, the only active exchange for ILGON, is no longer available to ILGON users. The exact reasons for the issue are not public, and on their official website, the ILGON team reports that they have made their own decision to leave WhiteBit.

Can it be true? Well, as we’ve said before, it’s the only exchange it was listed on. WhiteBit support also provided comments and asserted that ILGON was not in accordance with listing requirements and was therefore removed from the exchange.

In a newsletter sent by Ilgamos on July 7, 2021, Ilgamos tries to recommend ILGON as a long-term investment opportunity for its partners. This is not mentioned in the title of the newsletter (Compensation options for Ilgamos Partners), but the content makes it clear.

For a 120 days deposit, Ilgamos offers a 3,5% ILGON bonus (10.5%/360 days) where the exact meaning of the conditions is unclear but still sounds good. There is also a possibility for 240, 360, and even 540 days where Ilgamos offers its investors compensation of 30% ILGON bonus (20%/360 days). 

This behavior raises several questions since this kind of cryptocurrency activity has been subject to strict regulations in the UAE since 2019. There is no information on whether Ilgamos meets these requirements or not, as there is nothing about it on the Ilgamos site, and the terms and conditions. 

Since ILGON does not give a preference to appearing on numerous exchanges, the chance to create a deep market position is not guaranteed.

This current market strategy is very similar to the previous notorious and controversial fraud, FirstCoin and Bitconnect. The current facts do not support that ILGON has been able to achieve free-market success.

There is a reference in the terms and conditions, that Ilgamos has no responsibility for the future of ILGON. So Ilgamos are selling for millions of Euros a resource for which Ilgamos does not take responsibility. The question is, who is responsible for the market activities of ILGON?

We know that Attila Vidakovics is the CEO of ILGON Technologies, but it is not clear what legal entity ILGON Technologies is. Since the first press release was launched about Ilgon-Ilgamos, four of the team’s six members have left the project, including Matyas Andras Den, who was COO of Ilgon and current CEO of Technokrats.

Interestingly, the document of LLC Technokrats has been deleted. Since July 17 we can find a new company behind ILGON, which has changed the position of Technokrats Ltd. in all documents.

Dlabs Ltd. has nothing to do with cryptocurrency, but by researching publicly available information from Hungarian companies, we can find that the CEO of this company is Attila Vidakovics’ relative.

According to the terms of use of ILGON, Dlabs Ltd. has the same address as Technokrats. Both companies are located in the same building in the Bank Center.

These facts may even lead to legal consequences for Attila Vidakovics. Thus, there is no information about the legal basis for the sale of ILGON to Ilgamos. ILGON team made a statement on July 17, 2021 where they mentioned the largest Ilgon holder, but do not want to name who it is. 

Overall, the role of CEO Géza Kapitány brings up many questions in this project, although it might seem to be independent of him. The known facts indicate that he plays a key role in the future of ILGON.

The question is whether he is responsible for future problems or whether someone else will have something to do with it instead.

Of course, there is growing resentment among the former entering investors, since Ilgamos is still unwilling to keep its previous promises on the basis it received millions of Euros from its investors. We still cannot decide if Ilgamos or R&G Mentor GmbH – who is well known for certain videos – is responsible for the above-mentioned.

Unfortunately, not only the visions about the future that you could see in the Ilgamos videos never were realized. All investors remained empty-handed. Now Ilgamos is trying to fill these empty hands with the uncertain ILGON.

Overall, much more transparency is needed regarding the cooperation of Ilgamos and ILGON and there should be a safe position where the partners who paid millions of Euros should get a comforting view of the future. 

To sum up, ILGON has changed a lot since the launch of the first press release as a result of its partnership with Ilgamos. A transparent company doesn’t have to make as many changes as it did last month. Otherwise, we still have a lot of open questions about ILGON sales in the Ilgamos system.

The most important question is how Ilgamos bought ILGON and who supported the launch of ILGON Technologies financially. This secrecy between Ilgon and Ilgamos is not credible.

ILGON, Technokrats, GmbH, ILGON tokenomics

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