There has been reports that copywriters are offering professional ICO white paper copywriting and fabrication services in China. A search using key words such as “ICO,” “blockchain” and “whitepaper” result in dozens of online stores on Alibaba’s Taobao platform in China that provide ICO white paper copywriting, design and fundraising consultancy services.
According to an article published today by China’s Beijing News, some of these services may have been involved in abetting questionable ICO projects by agreeing to fabricate critical information in their white papers.
Undercover reporting conducted by the state-own news outlet with one store’s customer service reveals that ICO white paper copywriting costs $600, and also caters to those wanting to make false claims about a project’s credibility.
“We can falsify the education and professional background of these ICO teams. Harvard, Yale, Stanford, Cambridge, Apple, Google, you name it. And we will ensure their profile pictures remain unsearchable on the internet,” the service provider told the news outlet.
The report marks a continuation of the scrutiny the Chinese government and its state-owned media are taking over cryptocurrency trading and ICOs, which still remain active among Chinese investors via more indirect channels than prior to the ban.
The news also came just a day after China’s state-owned news agency appears to step up rhetoric on over-the-counter (OTC) cryptocurrency trading and overseas initial coin offerings (ICOs), calling the blockchain use cases attempts to bypass domestic regulation.