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In order to understand how much big was the Scam, we need to travel back to the time before these guys launch the Paycoin. GAW Miners was a Bitcoin Mining company which had a Pool and a Cloud Mining Service. In this last, they offered the Zen Hashlets with good profitable results.
And hell yes, these Zen Hashlet was promising...untill the day of Paycoin lauch
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And after scam revealing, Zen Hashlet had been 'mysteriously' sold out...
In 2015, The guys behind GAW Miners has offered a SHA-256 cryptocurrency called Paycoin. The PayCoin had - as they said- 12,5 million units which 1 million would be premined. There was a pool to mine the paycoin just for a While, the PayCoin was offered to be above 20 bucks in the market, but just raised $16 before they decided to dismantle it. Of course, the Hashbase, where The GAW Miners offered a Debit Card to spend the PayCoin in sites like Amazon, where suppousedly they would accept the Paycoin as a valid payment method -which had been denied by Amazon's Spokesmen as fast as the bullshit grown-. And then the castle would fall down for the scammers...
...here was the promised Hashbase which wasn't even been...
An then, the currency passed from the $16 to cost just $0.025 in a couple of week and the promising $20 for each PayCoin Honors was just a beautiful mirage. The trap was done, but SEC was caught The Jizz Moppers Supreme scamers and fined them with 21 months of jail. Meanwhile, the money of all investors was turned into smoke...
Where is PayCoin Right now?
The PayCoin was tranferred itself within different hands. Right now, a Paycoin project was revealed without date of (RE)Launch, by asking a e-mail for updates. Meanwhile, The Jizz Moppers location is unknown after causing the disaster which made them go jail just for a few months.