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VOICE ARCHIVE

@hindenburgres

@hindenburgres
22 posts
2024-10-08
Our research indicates that $RBLX is lying to investors, regulators, and advertisers about the number of “people” on its platform, inflating the key metric by 25-42%+. We also show how engagement hours, another key metric, is inflated by an estimated 100%+. (6/n)
2024-10-08 View on X
Wall Street Journal

Short seller Hindenburg releases a report accusing Roblox of inflating user metrics to investors and prioritizing growth over protecting minors; RBLX drops 5%+

Research firm alleges the videogame company has exaggerated user data and engagement figures  —  Short-selling firm Hindenburg Research …

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NEW FROM US: Roblox—Inflated Key Metrics For Wall Street And A Pedophile Hellscape For Kids https://hindenburgresearch.com/ roblox/ $RBLX (1/n)
2024-10-08 View on X
Wall Street Journal

Short seller Hindenburg releases a report accusing Roblox of inflating user metrics to investors and prioritizing growth over protecting minors; RBLX drops 5%+

Research firm alleges the videogame company has exaggerated user data and engagement figures  —  Short-selling firm Hindenburg Research …

View original
Insiders have cashed out $1.7 billion in stock since the company's 2021 direct listing. In the last 12 months, insiders have sold ~$150 million in stock, including ~$115 million by CEO Baszucki personally. (4/n) [image]
2024-10-08 View on X
Wall Street Journal

Short seller Hindenburg releases a report accusing Roblox of inflating user metrics to investors and prioritizing growth over protecting minors; RBLX drops 5%+

Research firm alleges the videogame company has exaggerated user data and engagement figures  —  Short-selling firm Hindenburg Research …

View original
Given these definitions, we believe Roblox intentionally conflates “people” with DAUs, consistently inflating the reported number of people on its platform. (10/n) [video]
2024-10-08 View on X
Wall Street Journal

Short seller Hindenburg releases a report accusing Roblox of inflating user metrics to investors and prioritizing growth over protecting minors; RBLX drops 5%+

Research firm alleges the videogame company has exaggerated user data and engagement figures  —  Short-selling firm Hindenburg Research …

View original
Multiple former employees told us that Roblox does internally track single users with multiple accounts, referring to the process as ‘de-alting’. (12/n) [image]
2024-10-08 View on X
Wall Street Journal

Short seller Hindenburg releases a report accusing Roblox of inflating user metrics to investors and prioritizing growth over protecting minors; RBLX drops 5%+

Research firm alleges the videogame company has exaggerated user data and engagement figures  —  Short-selling firm Hindenburg Research …

View original
2024-01-03
JUST IN: The U.S. Department of Justice has filed criminal charges against Tingo founder Dozy Mmobuosi. This follows SEC civil charges filed weeks ago. Dozy remains at large, per the announcement. https://www.justice.gov/...
2024-01-03 View on X
Bloomberg

US federal prosecutors charge Tingo Group founder Mmobuosi Odogwu Banye with securities fraud in New York for allegedly inflating Tingo's financial statements

- Criminal charges follow SEC lawsuit against Dozy Mmobuosi  — Mmobuosi is still ‘at large,’ federal prosecutors in NY said

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2023-06-07
We've identified major red flags with Dozy's background. He appears to have fabricated his biographical claim to have developed the first mobile payment app in Nigeria. We contacted the app's actual creator, who called Dozy's claims “totally false” & a “pure lie”. (5/n) [image]
2023-06-07 View on X
Financial Times

Nigeria-based Tingo, which offers mobiles and credit to farmers, fell ~80% after Hindenburg alleged the Nasdaq-listed fintech is an “exceptionally obvious scam”

Report alleges that Nasdaq listed company is an ‘exceptionally obvious scam’  —  Shares in Tingo Group more than halved …

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Overall, we think Tingo is a worthless and brazen fraud that should serve as a humiliating embarrassment for all involved. We do not expect the company will be long for this world. $TIO https://hindenburgresearch.com/ tingo (44/n)
2023-06-07 View on X
Financial Times

Nigeria-based Tingo, which offers mobiles and credit to farmers, fell ~80% after Hindenburg alleged the Nasdaq-listed fintech is an “exceptionally obvious scam”

Report alleges that Nasdaq listed company is an ‘exceptionally obvious scam’  —  Shares in Tingo Group more than halved …

View original
JUST IN: Airtel Africa responds, post-publication, that Airtel Nigeria has no relationship with Tingo Mobile. This runs contrary to Tingo's claims in filings that its mobile business is run through an agreement with Airtel. $TIO [image]
2023-06-07 View on X
Financial Times

Nigeria-based Tingo, which offers mobiles and credit to farmers, fell ~80% after Hindenburg alleged the Nasdaq-listed fintech is an “exceptionally obvious scam”

Report alleges that Nasdaq listed company is an ‘exceptionally obvious scam’  —  Shares in Tingo Group more than halved …

View original
Dozy claimed in his biography to have received a PhD in rural advancement from Malaysian university UPM in 2007. We contacted UPM to verify the degree. They wrote back saying no one by his name was found in their verification system. (6/n)
2023-06-07 View on X
Financial Times

Nigeria-based Tingo, which offers mobiles and credit to farmers, fell ~80% after Hindenburg alleged the Nasdaq-listed fintech is an “exceptionally obvious scam”

Report alleges that Nasdaq listed company is an ‘exceptionally obvious scam’  —  Shares in Tingo Group more than halved …

View original
We are short Tingo Group $TIO because we believe the company is an exceptionally obvious scam with completely fabricated financials. (2/n)
2023-06-07 View on X
Financial Times

Nigeria-based Tingo, which offers mobiles and credit to farmers, fell ~80% after Hindenburg alleged the Nasdaq-listed fintech is an “exceptionally obvious scam”

Report alleges that Nasdaq listed company is an ‘exceptionally obvious scam’  —  Shares in Tingo Group more than halved …

View original
We visited the site a week later and found zero signs of progress; it was empty except for the plaque and billboard commemorating the groundbreaking ceremony, surrounded by weeds. https://www.youtube.com/... (15/n) [image]
2023-06-07 View on X
Financial Times

Nigeria-based Tingo, which offers mobiles and credit to farmers, fell ~80% after Hindenburg alleged the Nasdaq-listed fintech is an “exceptionally obvious scam”

Report alleges that Nasdaq listed company is an ‘exceptionally obvious scam’  —  Shares in Tingo Group more than halved …

View original
NEW FROM US: Tingo Group: Fake Farmers, Phones, and Financials—The Nigerian Empire That Isn't https://hindenburgresearch.com/ tingo (1/n)
2023-06-07 View on X
Financial Times

Nigeria-based Tingo, which offers mobiles and credit to farmers, fell ~80% after Hindenburg alleged the Nasdaq-listed fintech is an “exceptionally obvious scam”

Report alleges that Nasdaq listed company is an ‘exceptionally obvious scam’  —  Shares in Tingo Group more than halved …

View original
2023-03-24
NEW FROM US: Block—How Inflated User Metrics and “Frictionless” Fraud Facilitation Enabled Insiders To Cash Out Over $1 Billion https://hindenburgresearch.com/ block $SQ (1/n)
2023-03-24 View on X
Reuters

Block drops 10%+ after Hindenburg Research discloses a short position and alleges the company overstated user numbers and understated customer acquisition costs

Hindenburg report TechCircle : Hindenburg accuses Jack Dorsey's Block of fraud, manipulating user numbers Sergio Goschenko / Bitcoin News : Hindenburg Research Blasts Jack Dorsey's...

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Our 2-year investigation concludes $SQ systematically exploits the demographics it claims to help. The magic behind $SQ has not been innovation, but its willingness to mislead investors, facilitate fraud, avoid regulation & dress up predatory products as revolutionary tech. (3/n)
2023-03-24 View on X
Reuters

Block drops 10%+ after Hindenburg Research discloses a short position and alleges the company overstated user numbers and understated customer acquisition costs

Hindenburg report TechCircle : Hindenburg accuses Jack Dorsey's Block of fraud, manipulating user numbers Sergio Goschenko / Bitcoin News : Hindenburg Research Blasts Jack Dorsey's...

View original
CEO Dorsey has touted how Cash App is in hundreds of hip hop songs as evidence of its appeal. But artists are not rapping about Cash App's smooth user interface — many describe using it to scam, traffic drugs or even pay for murder. (9/n) https://www.youtube.com/...
2023-03-24 View on X
Reuters

Block drops 10%+ after Hindenburg Research discloses a short position and alleges the company overstated user numbers and understated customer acquisition costs

Hindenburg report TechCircle : Hindenburg accuses Jack Dorsey's Block of fraud, manipulating user numbers Sergio Goschenko / Bitcoin News : Hindenburg Research Blasts Jack Dorsey's...

View original
Block, formerly known as Square, is a ~$44 billion market cap company that claims to have developed a “frictionless” and “magical” financial technology with a mission to empower the “unbanked” and the “underbanked”. $SQ (2/n) https://twitter.com/...
2023-03-24 View on X
Reuters

Block drops 10%+ after Hindenburg Research discloses a short position and alleges the company overstated user numbers and understated customer acquisition costs

Hindenburg report TechCircle : Hindenburg accuses Jack Dorsey's Block of fraud, manipulating user numbers Sergio Goschenko / Bitcoin News : Hindenburg Research Blasts Jack Dorsey's...

View original
2023-03-23
Our 2-year investigation concludes $SQ systematically exploits the demographics it claims to help. The magic behind $SQ has not been innovation, but its willingness to mislead investors, facilitate fraud, avoid regulation & dress up predatory products as revolutionary tech. (3/n)
2023-03-23 View on X
Reuters

Block drops 10%+ after Hindenburg Research discloses a short position and alleges the company overstated user counts and understated customer acquisition costs

Hindenburg Research said on Thursday it held short positions in Block Inc (SQ.N), alleging that the Jack Dorsey-led payments firm overstated …

View original
Our research involved dozens of interviews with former employees, partners, and industry experts, extensive review of regulatory and litigation records, and FOIA and public records requests. (4/n)
2023-03-23 View on X
Reuters

Block drops 10%+ after Hindenburg Research discloses a short position and alleges the company overstated user counts and understated customer acquisition costs

Hindenburg Research said on Thursday it held short positions in Block Inc (SQ.N), alleging that the Jack Dorsey-led payments firm overstated …

View original
Block, formerly known as Square, is a ~$44 billion market cap company that claims to have developed a “frictionless” and “magical” financial technology with a mission to empower the “unbanked” and the “underbanked”. $SQ (2/n) https://twitter.com/...
2023-03-23 View on X
Reuters

Block drops 10%+ after Hindenburg Research discloses a short position and alleges the company overstated user counts and understated customer acquisition costs

Hindenburg Research said on Thursday it held short positions in Block Inc (SQ.N), alleging that the Jack Dorsey-led payments firm overstated …

View original