This is possibly a clever scam set up from Nigeria.
It involves Cryptonews reporting like this one.
There is a telegram account that looks legitimate.
There’s even posts from these scammers on this forum
It’s clever enough to fool a lot of people.
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Seems like the scam is working:
FFS do we need a new slogan?
“dapp ain’t legit with address bullshit!”
People are losing serious ADA over this scam.
One of the real weaknesses of crypto and Cardano is that, despite all the compliance being put into place, a scam like this is picked up by the cryptomedia and promoted. This pushes people to these scams thinking they are legitimate projects.
Anyone calling out this project on Telegram is just getting banned for spreading FUD.
This is a ridiculous crime which goes on for days with no reprocussions for the criminals that steal from people.
This really has to stop.
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I’ve been watching this for a few days. I’m am nearly pushing the button on investing. There is a topic on the forums here so how can that be allowed?
Hello Maximus, since you have been craving for attention right from the day we kicked you from our telegram group for spreading false information.
Give us three reasons for labelling us a scam.
Let’s hear it.
Meanwhile, you can read more about our project here https://docs.ravendex.io
Word of Advice, don’t label anything you don’t understand as a scam, as you are getting used to that
I have looked into Ravendex. Negative chat on Telegram will get you kicked. I got kicked. Most of the redit activity is simplied referred/copied messages. Most tweets are retweets. The team is hidden. There are not partners. funds are sent to an address show via their website. A Cardano fund website that refers to them appear fake. They are listed on no legitimate Cardano project lists. It just seems to a slightly improved version of the plutuswap scam (they used fake phots and names for the team). I noticed the plutuswap chats had many connections to people in Nigeria. One of the Ravendex Comms Managers on linked was in Nigeria until I raised in in Telegram and suddenly the person changed to being Swiss. ADA police on twitter also looked into them and feel is has the hallmarks of a scam.
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You just joined here to discredit us?
We banned you from the group after you created FUD & spread so much misinformation about our project.
Ravendexlabs,
I can give 3 reasons that it appears to possibly be a scam.
- Team Credibility - The biggest challenge with the virtual world is accountability and ownership. Before investing your hard-earned money in ICOs that may look very promising, an investor must verify the credentials of the crypto team. The promoters of this project are anonymous and what little we have been able to find are connected to Nigeria, which is very well known and notorious for their Scam operations.
- Investor safety was not guaranteed. The smart contract should verify that each step was executed as proposed to ensure the 3 parts of the process: the issuer, the buyer, and the liquidity pool. Investors sent their ADA directly to a wallet address, not a liquidity pool. Even though the issuer may have the coins minted, according to Cardanoscan.io 100% of the share are currently located in a single wallet. If the project is abandoned than this will be a rug pull where none of the investors have a way to guarantee that they will receive their $RAVE coins.
- Heavily promoted offerings, No one ever heard of Ravendex 3 weeks ago, and now the internet is loaded with promotions about the private sale trying to get people to invest. Big promotions may be another sign of an exit scam. It is common to see full-page ads of new ICOs by lesser-known founders in the print media in populous nations like India. Confido also reportedly paid bloggers to spread the word on various online forums.
Guess We have To Prove you guys wrong then.
You can have a first look at our demo
This proves nothing
we’ve seen the video, this doesn’t refute any of my points. Any one with some basic graphics design skills and video editing ability can put something like this together relatively quickly.
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Can you post and explain some of the code you using to implement this DEX?
What about a detailed architecture and design?
because they can’t police everything. they probably don’t know this is a scam yet. an Investigation is underway with the Cardano Fraud Detection Bureau
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As much as we all want to get excited for a new dApps project, the people of the Cardano community will look out and protect the integrity of the Cardano project as well as the people in that community. I hope that I am wrong about this being a scam, and that it is legit, but so far little has been done to prove otherwise. Many people have sent their ADA with no guarantee that they will receive anything in return other than a promise and 404 missing pages.
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Our First AMA will be coming up soon, you can ask all relevant questions about our project there.
Thanks
AMA:
Who are your claimed auditors?
Where is the source code?
Where is the testnet of the dex?
Where is the coders meeting and sharing and discussion place?
Where did you start from? (Scratch? I cant believe)
Sorry, some warning signs ahead.
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BTW: you gitchub code repo is empty. Ravendexlabs (RavenDex) · GitHub
Big warning sign for the project!
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It’s imperative that we protect the Cardano Community.
I appreciate that Africa has been exploited in the past, but Cardano is trying to make things different.
These are sophisticated crmes. The so-called AMA will expose the scam for what it is.
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found this “guy” on linkedin , seems like a fake account also
Steer very well clear !!!
The burden of proof is on you RAVEN , all the signs show SCAM!
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that linkedin profile lists his education in a Nigerian university 
