Whitepaper writers admit to fabricating details and report a recent surge in business

The authors behind token whitepapers can profit between $1000-$15000 per job and are encouraged to skirt around the facts and "fake numbers", according to a Decrypt media report. The report also found that outsourcing whitepaper writing is becoming a lucrative business for contractors based in Ukraine and Nigeria, with the likes of crypto-exchange KuCoin allegedly among their clients.

The report should come as little surprise to those in the space who have seen initial coin offerings tainted by exit scams and inflated token sales. Still, the article noted that a sample of writers said business is on the rise again, suggesting there is an ongoing appetite for token raises among 'blockchain' firms.

AUTHOR

Isabel is The Block's London and European reporter. She previously reported for Reuters in Madrid and London, following on from her time as a freelance journalist for the Guardian and the New York Times. She has a Bachelors in War Studies from King’s College London and a Master of Philosophy from the University of Oxford. Conflict of Interest: Edward Woodford, the CEO of SeedCX, is Isabel's brother. She does not report on any issues related to Seed or advise other authors in any regard.

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