GXT Token – A scam mixing diamond trade with blockchain

I got a request on Twitter to make a blog post about GXT Token. I had never even heard about it but I decided to check out what was it all about and whether there was any clear signs of a scam visible.

I'm not going to jabber much about the business model of GXT Token and not dive deep in to the blockchain side of the business because it didn't take long to find some clear signs indicating that GXT Token is not to be trusted.

To put the basics short GXT Token claims to have a business combining blockchain technology and diamond trading. Quoting the vision of GXT: 
"If the price of diamonds falls, they can be protected at a price of a nose. If the price of the Coin drops, you can defend it with diamonds."
– Yes, it's a direct quote. It actually says "nose" there. In fact the whole poorly designed website has a lot of badly written English. 

The roadmap on the webpage indicates that GXT is probably targeting mostly Asians and South America:

"Marster Node Marketing Road Map" (click to enlarge)

The webpage includes a white paper and other marketing nonsense to lure victims to participate. There are also luxury brand logos attached. I don't think any of those brands have nothing to do with GXT though:

Click to enlarge.

However, the cherry is at the bottom. There we have a picture gallery of the team involved in GXT. At first it looks impressive but taking a closer look reveals that many of the people seem to be fake persons. The rest of the members might only have a little to do with the scam and they can even be unaware of the true nature of the business.

Here's the whole team:

First of all, most of the members of the team seem to exist only on GXT's webpage. The pictures of those individuals show signs of hampering which is almost a certain sign that these pictures have been bought from a image gallery.

In addition the scammers have made some sloppy work with some of the fake personalities. For example Francisco Gordillo seems to be a totally different man on his LinkedIn profile page:

Click to enlarge.

Also Financial Officer Julian Jones seems to be a totally different person on his LinkedIn page:

Click to enlarge.

I did manage to find evidence that one of the CEO's of GXT, Scott Matheina, seems to be a real person. He also has some prior experience in a blockchain related project. He was hired to handle communication of BOScoin a couple of years ago. In addition to Matheina there might be at least four other people besides him who are not fake. 

Anyway, I think there are enough red flags for me to consider that GXT Token shouldn't be trusted and I consider it being a scam.

A screencap from GXT web site. (Click to enlarge)