Tom McMurrain's Latest Cult-Coin

Move over OneCoin! Everyone has caught on to that criminal Ponzi scheme and it's close to being shut down by law enforcement organizations all over the world.

Now Tom McMurrain is back with a new fake cryptocurrency. It's called CoinMD.

It touts itself as a rewards points plan that you buy into, which is built on a (private) Proof of Work blockchain, which they mine solely using "secure, private servers" in other parts of the world. Super secret stuff apparently!

This begs the question - why build a Proof-of-Work chain when there is only one miner?

Their blockchain explorer is fake, consisting of some static text written in very basic CSS/HTML. There are no Javascript or PHP commands anywhere in the sites source code. This is a website that could have been written better by a 10 year old. The block explorer also fails to list any transactions.

The blockchain explorer is hosted on a subdomain of the CoinMD marketing website.

Further investigation shows that there is no whitepaper (just more marketing materials that they call a "white paper"), there are no wallets available on iTunes or Google Play, no developer support, and no listing of the CoinMD token on any exchanges.

The company maintains that the business is a work in progress, however they have no problem taking money from investors wishing to join the network. They claim that they already have over 900 members. With the most-basic membership package costing a mere $1,000 we should be able to assume that they have raised at least $900,000-likely more since they offer other packages costing upwards of $50,000.

We are told that we should trust them to build a legitimate business in the future, just pay the money now. Considering the past track record of the principle players in this business and their affiliation with the criminal One Coin/One Life fraud, you would think that if they truly wanted to turn over a new leaf and run a legitimate enterprise, they would offer a level of transparency second to none and they simply don't offer it.

Tom McMurrain is listed as the CEO of CoinMD, but the other players are largely unknown. Tom McMurrain is not a player in the cryptocurrency industry - he comes in as an outsider with no knowledge or history of blockchain development and has no connections with those who do. Perhaps it would be a good idea to disclose the names of the developers who are creating this currency. Uploading code to GitHub would also work wonders in promoting trust.

There is not one single redeemable quality about this business as it is clearly a Ponzi Scheme and should be avoided at all costs.