Golder Games completed their ICO token sale on the 15th of November 2018 and within two months the ICO was abandoned, key members of the ICO were out of the country on holidays soon afterwards and the $12 million raised was missing. How does a project of an already existing product with a small team in a country with low wages shutdown two months after raising $12 million? The answer is simple as you’ll soon find out.

Throughout the ICO token sale the message that GLDR would only increase in value and they even said they would adjust “monetary policy” to maintain GLDR value at no less then 100 GLDR to 1 US Dollar.

On the 31st of January the few remaining staff were told that the project had been paused for further development and for the global change in the in-game economy so moderation and community support is suspended until further notice. This was not communicated to Golder Games investors. The Telegram group was abandoned with the exception of a rare post by one of the admins.

Information including posts, videos and documents have been removed from the internet towards the end of the ICO to attempt to conceal the involvement of people involved like Dylan Sharkey and to remove information that could be used against Golder Games. Critics were banned from the Golder Games Telegram group and their posts often removed.

Also in January or February 2019 the KYC (Know Your Customer) contract was cancelled and all data was returned to Golder Games raising the question of why a business that planned to continue operation would cancel such a service.

The CEO of Golder Games Andrius Mironovskis was a Co-Founder and senior member of the Miner One ICO that ended in a similar manner with USD $6+ million missing. Andrius Mironovskis was also found guilty of being involved with a price fixing cartel against the Lithuanian Government. These are not the only commonalities between these ICOs, Jonas Udris the Corporate and Legal Advisor was Co-Founder and Legal Advisor to Miner One and Darius Udrys the Brand and Business Development Advisor was in the same position at Miner One.

Darius Udrys played a key role marketing and selling both Miner One and the Golder Games ICOs both of which turned out to be scams with fake products. Darius has denied any knowledge of what was going on at either ICO despite working full time across both ICOs and has used the Non Disclosure Agreement that he said he signed at the start to justify not helping ICO investors recover their funds and has said that he will only answer Lithuanian Authority questions.

Maksim Vashkevich who was never mentioned as part of the Miner One or Golder Games teams was the Brand Development Advisor to both, he is the Co-Founder of Neue Unica a Lithuanian branding company which is owned by Darius Udrys the Brand and Business Development Advisor for both Miner One and Golder Games.

Rimas Puriuškis the Chief Operating Officer and Co-Founder at Golder Games until March 2019 (2 months after it shut down), he was also the Digital Marketing and Community Manager at Miner One and has further connections to both Andrius Mironovskis and Jonas Udris which are detailed shortly.

Dzianis Kuchynski the Chief Communications Officer for Golder Games was also the Head of Community Support for Miner One until at least December 2018. He was also the most senior person left at Golder Games from January onwards.

Dylan Sharkey who has been involved in many of the other TokenDesk ICOs has also been involved with Bitcoinus, Provoco, IUNGO, HODL Finance, CoinStruction and has close ties to the Blockchain Open Fund which is owned by Goldfish Fund and LTk Capital who also own TokenDesk which was involved in the financing and starting up all of the Lithuanian ICOs being investigated.

The connections continue with a company called CFlow with the CEO Andrius Mironovskis and Co-Owner Jonas Udris having a further connection with the Chief Operating Officer and Co-Founder of Golder Games Rimas Puriuškis being the marketing director of CFlow.

Andrius Mironovskis registered Blockchain International FZE as the company behind Golder Games whilst whilst involved in Miner One as a Co-Founder with Pranas Slusnys (currently being investigated for the theft of $6+ million in investor funds) who had registered Miner One FZE. There are under 10,000 companies registered in the Ras Al Khaimah Free Trade Zone (RAKFTZ) and it is no coincidence that Miner One and Golder Games both chose that location. The owner of Miner One is Pranas Slusnys but the ownership of Blockchain International FZE is not able to be confirmed but is likely to be Andrius Mironovskis and possibly also Pranas Slusnys.

Golder Games also had on their roadmap the launch of Apple and Google store versions of it’s game in February 2019 and in May 2019 the launch of Sony PlayStation and Microsoft XBox. These were never going to be released as these platforms are very restrictive around cryptocurrency reward applications and an exit either had to be planned before these dates eventuated or an excuse for delays.

As far as can be seen nothing came of all the blockchain development which was meant to including anti cheating systems and easy withdrawal of tokens as this ended up being a manual process with delays of a month or more not uncommon.

The biggest indicator that this was always planned as a scam was that they never developed a game but instead purchased the rights to use the Unity game engine which would have cost $4500 for 9 months. The game development itself consisted of buying maps that were already created, two of these that have been identified sell for $75 and $80. The promised upcoming game Dirt Field was a photoshopped image from the unreleased War Field Desert Town map which would have been detected if this map was ever released.

I contacted the owner of Golder Games owner Andrius Mironovskis using a pseudo name to asked what was happening with development and he claimed that discussions were taking place with a game studio. This is an outright lie as no game studio would be interested in what Golder Games has produced and to top it off he claimed that this was not a scam as they had a product!

We have product, so it cant be the scam 🙂

20th of March 2019 | Andrius Mironovskis

It is clear that there never was an intention to continue development but to raise as much as they could within the ICO fund raising period by generating hype about upcoming maps and future games before a slow exit with the majority of the $12 million raised in the ICO. Calculations show that only around $100,000 was required to develop the War Field game and including the ICO fund raising and marketing the costs would not have exceeded $600,000 leaving nearly $11,400,000 unaccounted for.

What happens next is with the Lithuanian Authorities and I’ll keep the investors up to date with progress of the investigation. Hopefully the involvement in Miner One of key figures in the Golder Games Scam will be looked at in more detail, in particular property ownership in the Baltic Countries.

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