Gluwa/Creditcoin Outsourcing Fraud
This page is dedicated to exposing a major top 200-300 Korean token project for failing to pay their contractor (us) in regards to a completion of a service that was well documented.
The following are some of the chat record between us and Gluwa, the company behind Creditcoin, agreements signed and invoices as well as email exchanges.
First, some of these chat records where we agreed the contract amount.
Next, we’ve had the agreements signed. Here are a snippet of the contracts.
Agreement for Crypto.com listing.
Agreement for Coinbase listing.
The Crypto.com listing eventually was live December 22, 2023, which can be seen here (or copy & paste this URL to your browser: https://crypto.com/product-news/crypto-com-app-lists-creditcoin-ctc)
Next we have issued invoices to Gluwa on settling the service fees, which they have ignored. Our side have had numerous attempts on a friendly conversation on the matter, but those have been ignored as well. This raised serious flags with us because Gluwa also contacted us to “terminate” the Coinbase agreement for 10k CTC, which we accepted. But because this was before the Crypto.com incident, we quickly rescinded the confirmation out of potential evasion of contractual obligations, which they ought to be paying 50%. Had they paid the 10k in CTC, we would have been O.K. on the 10k CTC settlement on the Coinbase agreement termination out of good will. And so the second invoice was subsequently issued.
Multiple attempts to resolve via email failed, despite warnings that interest could be charged (and still is). Their only response was that the contract had been terminated, which never was. Regardless, the job was complete within 180 days as per the agreement EVEN after the client “terminates” the agreement. And so the second invoice was sent after Gluwa/Creditcoin have ignored multiple emails for invoice CAPT10002G, our side have determined that the Coinbase termination was invalid and so we opted to bill them (Gluwa) 50% less any fees they have paid thus far.
Here you will see the current owed with the interest breakdown. (Alternatively, copy & paste this URL to your browser: https://capitable.us/ctc/). As you can see, the principle accounts to 92,700 CTC. The interest accumulated (at 15% per annum) currently sits at over 1400 CTC.
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