Xaurum is no longer a blue-chip gold-backed crypto

This “digital gold” project takes the prize for “best website design” — it’s gorgeous! One of the first things you’ll notice is their “Proof of Gold” link to their gold reserve audits. And apparently, they did have their gold audited by PricewaterhouseCoopers in Slovenia, but they have not released an audit of their gold since 2018. That’s a real red flag, and it’s not the only one waving, in fact, I suspect that Xaurum is totally defunct…

  • They have not updated any of their social media accounts since 2019.
  • Discussion of Xaurum on Twitter seems to be a lot of people complaining and accusing the developers of being scammers.
  • It looks like the last XAUR transfer happened 28 days ago, as of writing, in August 2021.
  • XAUR has the oddest price history chart that I’ve ever seen, the token price ran up to over $1500 but then I believe the developers re-engineered it into a nearly worthless stablecoin.
  • The #1 guy on their team page Zdravko Poljašević, no longer lists Xaurum on his Linkedin profile.

If you’re wondering who’s behind Xaurum it’s these guys and the Auresco Institute as their own website explains, here

Auresco Institute as the entity behind Xaurum project prepared its financial statements in accordance with the Slovenian tax and statistical regulations.

The founder Gašper Kenda is the CEO of Auresco Institute according to Linkedin. A bit of Googling turned up this story about a Croatian ‘’Crypto-Villa’’ that the Xaurum guys had constructed…

But then had to sell it because…

The project was legally regulated in quite an unusual manner. It was, as mentioned already, headed by the Slovenian Auresco Institute, and their business operation in Croatia was run through the “Gama Construction’’ company, and the plan was for the villas, once ready, to be managed under the company Gamma Trust, headquartered in Liechtenstein.

On the project’s website, two villas could be seen in the construction process, but the project leader has now confirmed that the project was halted in April this year because money was being lost.

If you invested in Xaurum I hope you at least got a chance to party in their ‘’Crypto-Villa!’’

Should you buy Xaurum?

Well, they didn’t even bother to pay for their domain name registration for xaurum.pro — where their website’s “Buy” link points — so no.

About Xaurum

Xaurum is coined by exchanging the mined value for physical gold, stored as the CommonWealth gold reserves. It was first coined on a PoS Blackcoin blockchain, and has transitioned to Ethereum.

from github.com

Xaurum would appear to be an “exit scam” but disappointingly they faced no legal repercussions — as far as I can tell there have been no lawsuits or formal investigations. Be very wary of future crypto projects by the same guys.

Originally published on MarketplaceGOLD.com. I’m an independent researcher passionate about financial antifragility and economic philosophy, not a licensed financial adviser. This is not financial advice. Please practice skepticism and critical thinking. Affiliate links in this article support MarketplaceGOLD.

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Adventuring philosopher, Pompous pontificator, Writer, K-Selected Biohacker, Tantric husband, Raconteur & Smart Drug Dealer 🇺🇸

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Jonathan Roseland

Jonathan Roseland

Adventuring philosopher, Pompous pontificator, Writer, K-Selected Biohacker, Tantric husband, Raconteur & Smart Drug Dealer 🇺🇸

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