NEW YORK, April 22, 2020 /PRNewswire/ -- Dignity Gold, LLC, the issuer of DIGG, is a Delaware registered, revenue-generating company. The Company was founded in 2019 by Stephen Braverman and Kent Swig. The Company is planning on issuing an asset-backed crypto security coin, DIGG, which incorporates the latest cryptographic technology and is backed by a Safe Keeping Receipt ("SKR") from SION Trading FZE ("SION") for 80,000 kilograms of gold bullion held in Dubai, United Arab Emirates. Each token is backed by 0.02445 grams of gold under the SKR.
Dignity Gold previously purchased some of the assets from a non-affiliated company, Cryptobontix. However, the original DIG token owned and controlled by Cryptobontix was NOT issued by the Company and is NOT under the control of the Company. Additionally, the Cryptobontix whitepaper and business plan have NO relation to Dignity Gold. Dignity Gold has its own business plan and token that is NOT affiliated with Cryptobontix or DIG.
Dignity Gold became aware on January 18, 2020, that trading irregularities occurred and that certain unknown individuals had minted counterfeit DIG tokens and sold them on the exchange Livecoin.net. A formal complaint was immediately issued to Livecoin.net, however, they have not responded. Dignity Gold, LLC will allow certain previous legitimate DIG holders that meet applicable requirements an opportunity to receive the new DIGG token.
As part of the process, Dignity Gold is currently trying to verify who the legitimate holders of DIG tokens are. Once this is established, we will determine how best to issue DIGG tokens in compliance with applicable securities laws. DIGNITY GOLD CANNOT GUARANTEE THAT EVERYONE WHO OWNS DIG TOKENS WILL BE ABLE TO RECEIVE DIGG TOKENS.
Dignity Gold has started the process of validating legitimate and verified owners of DIG on our dignitygold.com website beginning on April 20th and will continue to do so for the next 45 days.
While Dignity Gold is not currently engaged in the issuance of our DIGG tokens, DIG holders looking to participate in the DIGG token need to supply timely and accurate information. Failure to do so means that such holders will not be eligible to receive DIGG tokens. DIGG tokens will be fully compliant securities operating with full Know Your Client ("KYC"), Anti-Money Laundering ("AML"), accreditation checks and Organization of Foreign Asset Control ("OFAC") procedures.
CONTACT: Impact Partners, [email protected]
SOURCE Dignity Gold, LLC