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G999 is a gold-backed cryptocurrency with a 999.9% 24 karat purity issued by The Gold Standard Bank (GSB) and GSPartners.

G999 Project Information

Official name G999
Launched 15 Oct 2020, Karatbars
Contributors Josip Heit, Alex Cocindau


After splitting from Karatbars and his partner in Karatbars, Harald Seiz (who started a competing project V999), Josip Heit and Alexandru Cocindau started the G999 project on top of Gold Standard Bank. G999 seems to be a direct fork of PIVX, and much of its documentation seems to correlate to a previous project called BitcoinPOS.

G999 has its roots in Karatbars and is related to Karatbars, Freebay, GSB and V999

From its marketing material: G999 is a peer-to-peer electronic cash system that aims to become sound global money with fast payments, micro fees, a new generation of communication, and high transaction capacity.

Evidence that G999 is A Scripted Scamcoin?

GSPartners’ G999 seems to have originated from a pre-purchased script1), potentially used in launching prior scamcoins.

The G999 website claims its development process began in 2018, detailing various stages of blockchain development throughout that year. The community links section on G999’s website includes a BitBucket link to its blockchain source package, uploaded in November 2018, aligning with their claims.

However, notable details arise in the “Need Help?” section of the readme file within G999’s blockchain source package. This section redirects to a BitcoinTalk forum thread for SafeInsure Coin (SINS), an unrelated pump-and-dump shitcoin launched in September 2018. SINS eventually stopped functioning in early 2021.

Following the decline of SINS, another similar coin, SafeCapital (SCAP), emerged in December 2019, met with abandonment around July 2020.

G999’s readme file strikingly mirrors that of SINS, indicating a mere name change from SINS to G999 without substantial alterations in the underlying script. This was further substantiated by the referenced source files of G999, SINS, and SCAP, highlighting resemblances.

However, subsequent to this article’s publication, GSBank removed the G999 source readme file and deleted the commit entry, potentially attempting to erase evidence indicating G999's similarity to SINS and SCAP.

Further examination of G999’s readme uncovers more traces linking it to SINS, including broken links to SINS’ root readme file, suggesting a strong resemblance and potentially indicating G999's genesis as a clone.

G999’s BitBucket code project has remained stagnant since October 2020, indicating a lack of ongoing development.

Contrary to GSPartners’ representations of a dedicated blockchain team behind G999’s development, evidence suggests the purchase of a script, with modifications only to incorporate the project's name.

While G999 followed a pattern similar to SINS and SCAP in terms of pumping and dumping, the MLM comp plan behind G999 continues to generate profits for GSPartners' founder, Josip Heit.

Less than 48 hours after BehindMLM published evidence that GSPartners’ G999 was created via an off the shelf shitcoin script GSBank had deleted the evidence. 2)

People Involved

Celebrity endorsements

German actress Sophia Thomalla appeared in a promotional video for G999 with Josip Heit3)

Regulator warnings

The New Zealand regulator, FMA issued a warning against Karatbars, FreeBay, G999 and related companies.

g999.txt · Last modified: 2024/05/12 21:21 by A User Not Logged in