Multichain has released a report indicating that Chinese Police took away its CEO Zhao Jun on May 21, 2023
Multichain CEO Zhao Jun has not been heard from since May, and the MPC node operators have all their operational access keys to the MPC node servers revoked.
The company claims there is currently no access to Zhao Jun’s cloud server account; therefore, no one can log onto the MPC Servers.
Public communication indicates Chinese Police reportedly took Multichain CEO Zhao Jun in May; since then, no one has heard from him. Multichain suspiciously claims no one can access Jun’s cloud server; thus, everyone is locked out of MPC node servers and cannot access investor funds stashed away by his sister.
Multichain CEO Zhao Jun not heard from since May
Multichain has released an announcement asking GoDaddy to help them bring down Multichain.org to keep customers from using the Multichain Service anymore. The team claims it wants to take this step as it lacks alternative sources of information and operational funds, forcing it to cease operations.
In connection to the missing of Multichain CEO Zhao Jun, the team has reported that it had established a connection with his family and learnt that all the tech devices belonging to Zhao Jun had been taken away by the Chinese authorities. They indicated that since its inception, Zhao Jun used to control all operational funds and investments from Multichain users.
As such, the team could only maintain the project through its remaining access to some non-MPC servers that had not been revealed yet. Also, according to a lawyer’s advice, the team intends to comply with the Multichain CEO Zhao Jun family’s demands to keep details of the Chinese investigations under wraps.
Multichain explained that it released the news of Multichain CEO Zhao Jun going missing on May 30 and explained its technical difficulties. It, however, says that Zhao Jun’s family seems to have some access to the cloud server platform though it’s not clear how far they can go as they do not intend to allow Multichain to access it.
“On June 4, Zhaojun’s family successfully logged into the cloud server platform using the historical information on his home computer. However, Zhaojun’s family only allowed Multichain team engineers physical access to the home computer to fix technical issues with Router2 and Router5.”
At the time, the family and lawyer were in contact with the authorities. They did not give Multichain detailed information though they said Jun would be released soon. On July 7, Jun’s sister transferred investors’ assets locked on the MPC addresses. On July 9, she transferred the remaining user assets to the router pool and notified the team to the EOA address controlled by her.
“The funds were transferred to EOA addresses controlled by Zhaojun’s sister. 0x1eed63efba5f81d95bfe37d82c8e736b974f477b 0x6b6314f4f07c974600d872182dcde092c480e57b”
The family contacted Multichain on July 13, saying that Jun’s sister was also in police custody, and now there is no contact with her. According to the Multichain team, the status of the assets she ‘preserved’ remains uncertain. There are no operational funds to keep Multichain afloat, necessitating the closure of the multichain.org domain.
A rug pull at play?
A rug pull is a common type of crypto scams involving fraudulent developers luring investors into a lucrative project. At most times, there is always a flaw in the project code that allows the developers to have a back door to the funds accumulated.
In Multichain’s case, all these factors are satisfied. Multichain CEO Zhao Jun was in charge of controlling all funds, which means that no funds would flow from the accounts held by the protocol without passing through him. As such, it screams a centralized project.
Conveniently, he went missing, and all other MPC node operators were locked out of the MPC node servers. At the same time, the CEO’s sister transferred assets from secure MPC addresses to EOA addresses before conveniently going missing, after which Multichain now wants to bring down its website.
In all this, the team had nowhere communicated to investors about how funds flow. Also, they did not use litigation against the Jun family for denying them access to company funds while transferring them to their private addresses. Whether this is, a rug pull is up to you to decide.
Keep watching Fintech Express for more updates on crypto and other fintech-related developments.
US SEC is under fire after posting a rather unconvincing press release detailing that they won against Ripple in some cases where the crypto company had tried to introduce an unconventional law.
The crypto community is calling out the US SEC for its tendency to want to regulate the crypto industry greedily.
Voices have been raised against US SEC following its recent loss in the case against Ripple regarding XRP being security. The crypto community feels that authority should have been fair, meaning they would have expected SEC to have an outright win.
The crypto community celebrates a win against the US SEC
The crypto community has come together to celebrate another massive win against the US SEC after the judge officiating the case between the regulator and Ripple ruled in favor of Ripple that Primary markets sale of XRP does not constitute properties of a securities asset.
The SEC has fallen prey to an unforgiving crypto community after posting an official press release that ‘celebrates’ its win against Ripple, claiming that the crypto company tried to formulate its own rules.
A statement in their press release reads:
“ The court agreed with the US SEC that the Howey Test governs the securities analysis of crypto transactions and rejected Ripple’s made -up test as to what constitutes an investment contract, onstead emphasizing that the Howey test and subsequent cases have held that a variety of tangible and intangible assets can serve as subject of an investment contract.”
The US SEC continued:
“ Further, the court rejected Ripples fair notice argument noting that Howey test is clear and that claiming ignorance is not a defense to violating the securities laws. We’ll continue to review the decision.”
No surprise that an agency led by Gary Gensler chooses to lose dishonorably.
This development has been received with open arms by crypto exchanges like Coinbase, which is in a similar court battle with the US SEC. Coinbase has relisted XRP and claims that the win from Ripple is a win for the industry, developers, and investors.
W.
W for @ripple. W for the industry. W for the builders. W for a clear rulebook. W for updating the system.
Trading on the XRP/USDT pair begins on 7/14 at 9 a.m. ET.@Ripple XRP aims to facilitate fast and low-friction value transfers, providing institutions with a solution for cross-border transactions.
The crypto community has also reacted to the story, with investor Scott Melker calling out the US SEC for their unpopular press release. Scott asks the US SEC to digest the developments rather gracefully.
— The Wolf Of All Streets (@scottmelker) July 13, 2023
Ripple CEO Brad Garlinghouse was also included, as he notes the important part of the ruling. He tweeted saying:
“The most important part of this ruling: “XRP, as a digital token, is not in and of itself a “contract, transaction[,] or scheme” that embodies the Howey requirements of an investment contract.” This is a now a matter of law (not up for trial.).”
Watch Fintech Express for more updates on crypto regulation and other fintech-related developments.
Ripple won a court battle against the US SEC that XRP is not a security
The development is causing an uproar, with the US Financial Services GOP asking the SEC to work with Congress to regulate the industry
Gary Gensler is under fire after the US SEC partially lost a case against Ripple in the Southern District of New York. Judge Torres ruled on July 13 that the XRP token is not a security so long as it is traded programmatically on exchanges. The US House Committee on Financial Services for Republicans has asked him to work with Congress to regulate digital assets.
Gary Gensler and Congress must work together following the partial loss in the XRP Ripple case
The US House Committee on Financial Services has asked Gary Gensler to cooperate with the US Congress to regulate crypto assets following a disgraceful loss against Ripple, and the US SEC partially lost that the sale of XRP tokens on primary markets does not constitute securities features.
However, the sale of XRP tokens to institutional investors and venture funds passes the Howes test and can be regulated under securities laws. As a result, Coinbase and Binance have gained an edge against the SEC in the ongoing crypto lawsuits, which shows the authority did not do a very good job when pushing Ripple in a years-long court battle.
This development calls for unison in regulating crypto assets, a move that House Rep Emmer agrees with. Emmer and other lawmakers have tabled a regulation to see Gary Gensler ejected from power and SEC restructured, but it is yet to be heard and voted in the US Congress.
Keep watching Fintech Express for more updates on this and other fintech-related developments.
Ripple wins in its case against the US SEC as a US judge rules that it’s not a security.
Per July 13 filing, Judge Torres has given Ripple an early win in his ruling that XRP should not be classified as a security.
Ripple has scored a win in the Southern District of New York after the Judge presiding over SEC vs Ripple ordered that XRP is not a security. This filing has sent the crypto token exploding 60% in minutes.
Ripple XRP explodes by 60%
Judge Torres, who has been presiding over the case between SEC and XRP, has handed the latter a win in a monumental way. He first predated the release of Hinman documents which showed ignorance of the law by the US SEC, tipping the odds of winning the case to XRP.
The Southern District of New York concluded that Ripple’s Programmatic Sales and Other Distributions of XRP did not constitute the offer and sale of investment contracts.
But Ripple’s Institutional Sales of XRP constituted the unregistered offer and sale of investment contracts… pic.twitter.com/VjrEmWVT83
“The defendant’s motion for summary judgements is GRANTED as to the programmatic sales and Other Distributions, Larsen’s and Garlinghouse’s sales, and DENIED as to the Institutional Sales.
Within minutes, the coin exploded by over 60% as the crypto space received the news rather happily. This landmarking ruling was well awaited as the crypto space felt that the SEC was playing foul on the industry and seeking to smother it for greedy reasons.
Some notable names have hit back at the SEC as they await the Coinbase and Binance rulings, where SEC says that over 6o crypto assets, including XRP, are securities. Gemini’s Cameron Winklevoss has called the SEC out, telling them to focus on the TradFi sector and let crypto be regulated more meaningfully.
The sale of XRP on exchanges is NOT a security. Which means the sales of all cryptos on exchanges are NOT securities and @SECGov and @GaryGensler have NO jurisdiction over them. This is a watershed moment that relegates the SEC to TradFi and makes it a dinosaur regulator. Buh-bye pic.twitter.com/PRuumqQBEL
The former CEO of the bankrupt crypto lender Celsius Network Limited has been arrested by the US
Alex Mashinsky was arrested pending a probe by the US authorities into how Celsius was operated
Alex Mashinsky is being sued by the US SEC following the collapse of the crypto lender Celsius. Mashinsky served as the CEO of the fallen crypto giant till its last days.
US arrests Alex Mashinsky over collapsed crypto lender Celsius
Alex Mashinsky, the Ex-CEO of the fallen crypto liner Celsius Network Limited, has been sued by the US SEC pending an investigation. The SEC believes that Alex Mashinsky knowingly ignored securities laws when operating Celsius crypto lender, exposing US users to unmitigated risks.
The lawsuit against Mashinsky was communicated on July 13 2023, and was filed with the US federal court in Manhattan. Earlier on, New York Attorney General Letitia James had sued him on claims of him defrauding investors by making false advertisements on the state of Celsius Network Limited, which encouraged the continued flow of money.
Alongside the US SEC, other US regulators such as the Department of Justice (DOJ), Commodity Futures Trading Commission (CFTC), and Federal Trade Commission (FTC) have also filed separate lawsuits against Celsius Network and Alex Mashinsky.
Mashinsky’s charges include Securities Fraud, Commodities Fraud, Wire Fraud, and Conspiracy to manipulate the price of CEL (celsius native token. Fraudulent scheme to manipulate the price of CEL, Market Manipulation of CEL tokens, and Wire Fraud in connection with CEL token manipulation.
Now, Mashinsky has joined a growing list of ‘crypto kingpins’ that have been involved in losing millions of dollars to their users and creditors. The US is also pursuing several other crypto executives, including but not limited to FTX’s Sam Bankman Fried and Terra’s Do Kwon. It is also in a court battle with Binance US and CEO Changeng Zhao, Coinbase, and its CEO Brian Armstrong.
Keep watching Fintech Express for more updates on this story.
The U.S. announced on July 12 that its annual inflation had fallen to 3% lower than the expected 3.1%
Thursday, markets saw Europe stocks open higher following the news.
More pain is expected in the Eurozone as further interest rate hikes are needed, and BoE expects mortgage payments to be hiked.
Europe stocks have opened higher, with Stoxx 600 up 0.67% at 13:20 London time on July 13. The tech stocks were also up 1.5%, with almost each other sector trading in green.
Europe stocks get a spike though the U.K. economy contracted in May
The U.K. economy is left behind by its west counterpart, the U.S. The U.S. reported strong market data in June, with its inflation falling to the lowest point since 2021. On the other hand, the U.K. reported a contraction of 0.1% in May.
International markets are, however, expecting a 90% possibility of July seeing a rates hike in the U.S. However, a smoother way ahead may be inbound for the U.S., as it was expected that only two more hikes could be necessary this year. As such, markets are reacting well to the information.
Shortly after the news of the falling inflation rates in the U.S. hit the headlines, the STOXX 600 rose by 1.5%, showing more hope among traders, at the same time. The S&P 500 closed Wednesday at its highest level since April 2022.
The U.S. Producer Price Index was released on July 13, 2023, detailing that the final demand increased by 0.1% in June. Concurrently, the Prices for final demand services rose 0.2 percent in the same period.
The US Producer Price Index for final demand increased 0.1 percent in June. Prices for final demand services rose 0.2 percent, and the index for final demand goods was unchanged. Prices for final demand advanced 0.1% for the 12 months ended in June.https://t.co/YctBSFrKz6
Wallet, a telegram payments bot, has allowed payments in Bitcoin (BTC) USDT and TON.
It states that merchants who minted to use it must bear their regulatory risks and only use it if their jurisdictions allow crypto payments.
Telegram wallet bot has announced the support of USDT, Bitcoin, and Ton crypto payments. It has also asked merchants to take responsibility for investigating if they are allowed to carry out crypto payments before using its innovation.
The Telegram wallet bot has released the Wallet Pay service, allowing users to transact in three crypto assets named above. This innovation will allow the transaction between users and retain businesses via the telegram interface.
The functionality of this new feature by Telegram has rolled out with support in most countries except the United States of America, where the regular environment is far from friendly. However, it has also deny listed other regions like Iran, Myanmar, and North Korea per international monetary sanctions.
Additionally, it has asked businesses to decide if they can use crypto payments in their regions of jurisdiction before accessing the innovation. As such, it does not expect any usage from countries like Russia, Egypt, China, Vietnam, and others that do not allow using crypto products as treatment.
This development comes when the regulatory atmosphere for crypto assets is still in limbo. Most nations are yet to introduce concrete regulatory frameworks, which have prompted the Telegram wallet bot to ask businesses to take their regulatory risks when accessing the innovation.
Keep watching Fintech Express for more updates on this and other fintech-related developments.
Polygon has tabled a proposal that will bring MATIC’s technical upgrade
Once approved, MATIC’s upgrade will make it a multipurpose token and be renamed POL
Polygon has submitted a proposal to the Polygon community seeking to upgrade its MATIC token to a multipurpose coin across multiple chains and rename it to POL token.
Polygon wants its native token to serve as a multipurpose coin in all chains
Polygon is an Ethereum scaling solution. It was built as an L2 on the Ethereum blockchain network to bring faster transactions and lower gas fees on the L1. It has a native token called MATIC. This coin has grown into one of the most remarkable projects recently.
Now Polygon has submitted a proposal to upgrade this native token into a multipurpose one that can be used to validate transactions on multiple chains. The proposal will the approved by the ecosystem’s community.
1/ Today, the next technical proposal of Polygon 2.0 is unveiled:
POL, the upgraded token of the Polygon protocol! 💫
POL is the next generation native token, designed to secure, align and grow the Polygon ecosystem.
The POL token is set to span all protocols, including the zkEVM, SUpernets, and the network’s PoS chain. It will also align and incentivize the validators on the Network to perform better. A redesign of the protocol architecture is imminent upon the approval of the proposal introducing features such as infinite scalability.
It will allow for staking with the validators to open three incentive streams: protocol rewards, transactional fees, and other additional rewards. The upgrade will also include additional features like allowing the validators to perform multiple roles like validating transactions, ZK proof of generation, and participation in Data Availability Committees.
Keep watching Fintech Express for more crypto and other fintech-related developments.
Earning free gift cards can be a great way to save money or treat yourself to something special. Here are 40 easy ways to earn free gift cards:
1. Online surveys: Sign up for reputable survey websites like Survey Junkie or Swagbucks and earn points that can be redeemed for gift cards.
2. Cashback apps: Use cashback apps like Rakuten, Ibotta, or Honey to earn cashback on your online purchases. You can convert the cashback into gift cards.
3. Reward programs: Join reward programs offered by retailers or credit cards that allow you to earn points for purchases and redeem them for gift cards.
4. Online shopping portals: Use websites like ShopAtHome or TopCashback that offer cashback or free gift card rewards for shopping through their links.
5. Refer-a-friend programs: Many websites and apps offer referral bonuses in the form of gift cards when you refer friends or family members.
6. Online marketplaces: Sell unwanted items on platforms like eBay or Facebook Marketplace and use the proceeds to buy gift cards.
7. Credit card rewards: Use credit cards that offer reward points or cashback on purchases, which can be converted into free gift cards.
8. Mobile apps: Try apps like Slidejoy or Adme Lockscreen, which display ads on your phone’s lock screen and pay you in gift cards for using them.
9. Mystery shopping: Sign up for mystery shopping opportunities where you can get reimbursed in the form of gift cards for evaluating stores or restaurants.
10. Online tasks: Complete micro-tasks on platforms like Amazon Mechanical Turk or Clickworker to earn money that can be converted into gift cards.
11. Bing Rewards: Use Bing as your search engine and earn points through the Bing Rewards program, which can be redeemed for free gift cards.
12. Online gaming: Participate in online gaming tournaments or competitions that offer free gift cards as prizes.
13. Grocery store loyalty programs: Join grocery store loyalty programs that offer points for purchases, which can be redeemed for free gift cards.
14. Receipt scanning apps: Use apps like Receipt Hog or ReceiptPal to scan your receipts and earn points that can be exchanged for gift cards.
15. Online focus groups: Participate in online focus groups or market research studies that provide compensation in the form of gift cards.
16. Social media promotions: Follow brands and influencers on social media platforms, as they often run contests or giveaways for gift cards.
17. Product testing: Sign up for product testing panels that provide free products and free gift cards in exchange for feedback.
18. Online tasks and surveys: Websites like Amazon Mechanical Turk and Clickworker offer various tasks and surveys that pay in gift cards.
19. Online cash competitions: Participate in online cash competitions or giveaways where gift cards are often included in the prizes.
20. Cashback credit cards: Use credit cards that offer cashback rewards and convert the cashback into gift cards.
21. Online coupon websites: Use coupon websites like RetailMeNot or Coupons.com that sometimes offer gift card giveaways or discounts.
22. Online reward communities: Join online reward communities or forums where members share tips and opportunities to earn gift cards.
23. Online market research panels: Sign up for reputable online market research panels that reward participants with gift cards for completing surveys.
24. Refund apps: Use refund apps like Paribus or Earny that automatically track your online purchases and claim refunds or gift cards if prices drop.
25. Email newsletters: Subscribe to newsletters from your favorite brands, as they may occasionally offer gift card promotions or discounts.
26. Trade-in programs: Some retailers offer trade-in programs for old electronics or video games, where you can receive gift cards in exchange.
27. Online focus groups: Participate in online focus groups or research studies that offer compensation in the form of gift cards.
28. Frequent flyer programs: Redeem frequent flyer miles or travel rewards for gift cards offered by airlines or hotels.
29. Cashback websites: Use cashback websites like BeFrugal or Giving Assistant to earn cashback on your online purchases, which can be converted into gift cards.
30. In-store promotions: Keep an eye out for in-store promotions where you can earn free gift cards by making qualifying purchases.
31. Charitable donations: Some organizations offer gift cards as a token of appreciation when you make donations.
32. Online tutoring: If you have expertise in a subject, offer online tutoring services and accept gift cards as payment.
33. Online sweepstakes: Enter online sweepstakes or giveaways where gift cards are offered as prizes.
34. Hotel loyalty programs: Redeem hotel loyalty points for free gift cards offered by hotel chains.
35. Cashback browser extensions: Install browser extensions like Honey or Capital One Shopping, which offer cashback or gift card rewards for online shopping.
36. Online streaming rewards: Some streaming platforms offer rewards programs that allow you to earn free gift cards by watching content or completing certain tasks.
37. Online research studies: Participate in online research studies conducted by universities or market research companies that provide gift card compensation.
38. Online contests: Enter online contests or giveaways hosted by companies or influencers, as free gift cards are often included in the prizes.
39. Online cashback portals: Use cashback portals like Swagbucks or MyPoints that offer cashback or gift cards for shopping through their links.
40. Restaurant loyalty programs: Join restaurant loyalty programs that offer rewards and gift cards for frequent visits or purchases.
Remember to be cautious and verify the legitimacy of any platform or program before providing personal information or investing your time.
Web3 scams have made the blockchain landscape a war zone. On one side is the crypto community, armed with the desire to innovate and redefine the function of money and its technology. On the other side comes swindlers with zero remorse and the determination to gain fast money, hackers and malicious actors steal from unsuspecting investors. The consequence is billions have been lost.
The enigma of Web3 scams
It’s becoming a popular belief that web3 security will worsen before improving. And indeed, it’s evident from stats before 2022, which show an increasing pattern in web3 scams and security breaches. This security turmoil receded in 2023, with the first half reporting barely a third of the first half 2022.
Are things improving? No! Based on CertiK’s report, about 212 security breaches claimed over $313 million in Q2 2023. In early June, highly industrious scammers swindled over 5k Atomic wallet users stealing about $100 million.
When writing this report, a crisis hovers around Multichain which lost $126 million in another breach. The insecurity dilemma discourages the entry of potential investors to web3. This guide unmasks the main crypto scams and how to steer clear.
Phishing attacks
Phishing is among the most widespread web3 scams. In phishing, the attacker preys on humans’ curious nature. The swindlers send decorated messages with web links, fooling the victims into disclosing confidential data. The web links mimic websites of popular networks, with only minute alterations. Consequently, the attacker gains a gateway to bank account details and logins to crypto wallets.
While these web3 scammers mostly leverage emails, other platforms like Twitter inboxes, phone calls, and text messages are emerging as an avenue for phishing attacks.
How to escape phishing attacks
While prevention is better than cure, there is no concrete prevention to phishing. There is very little you can do to avoid the attacks— the attackers will send you messages on Twitter, email, or wherever. But you can escape the attacks. How?
Don’t open suspicious emails and links — these links are the attacker’s backdoor to your network.
Directly type any web links.
Use anti-phishing email security systems.
Avoid clicking on pop-ups.
Use firewall protection— firewall blocks unverifiable outgoing requests.
Don’t add credit card and wallet details on untrusted sites.
Rug pulls
Blockchain’s rapid evolution brought a rise of DeFi, which is now a center for rug pulls. The ability for anyone to create unverified projects, albeit good, has led to billions in losses. It has become one of the most challenging web3 scams as it’s not always easy to spot rug pulls before they happen.
In rug pulls, developers desert a crypto project and steal everything from liquidity pools. What remains in token holders’ wallets are worthless tokens.
Note: The main offenders in rug pulls are project developers.
Builders leave code gaps during project development, creating backdoors to steal funds. Developers hype the project by promoting it via social media channels. multiple web3 scams have been found to be orchestrated this way through out time.
When launched, the project lures millions in investment. Developers then clean the liquidity pools. The Merlin DEX case followed a similar pattern. Soon after the token drew the required attention, the developers stole all the liquidity.
Unlike phishing which lacks outright prevention, rug-pulls can be completely prevented and avoided. How?
Avoid projects with nameless developers.
Avoid projects with zero liquidity locked — Liquidity lockers were born out of necessity to increase confidence in DeFi. If a project has no liquidity locked, it’s not a good idea to invest.
Vastly research on projects promising high yield or tokens with high pumps at launch.
Avoid unaudited projects.
Avoid projects restricting sales.
Pump and dump schemes
The most prevalent scheme in crypto and financial markets is pump and dump. Chainalysis reported earlier this year that 24% of tokens launched in 2022 had pump-and-dump traits. These schemes exploit investors’ fear of missing out on good opportunities.
The attacker fashions some fake ‘insider information.’ Once the news hits social networks, investors swiftly rush to buy the token, causing a price surge.
As tokens peak, the attacker ditches a large volume of their holding, gaining enormously. Consequently, the token dump, coupled with frustrations around the fake revelations, results in plummets.
Mimosa (MIMO), a crypto project born in March 2021, traded at $4. A few days after its birth, MIMO plunged to the sub-dollar price.
How to escape a Pump and Dump
Dodging pump and dump schemes is as easy as one-two-three. Here are a few things you must do;
Don’t make investment decisions based on hype, DYOR. Promotional campaigns create a market craze, exaggerating the project’s potential. Evaluate the legitimacy of the news source.
Analyze the markets before investing. Check the price demeanour, resistance, support, and other key points.
Don’t invest in projects with high buy walls.
Business opportunity scams
Some web3 scams come in the form of mouth-watering business deals. These scammers prey on investors’ ignorance. They make a promise of high-yielding opportunities for some crypto investments. Have you seen an email asking you to invest in a ‘shit’ coin, promising 10x, 100x, or maybe 1000x gains? Well, that’s how business opportunity scams work.
As pointed out, ignorant investors are the most likely victims of such scams. The aftermath of their reluctance to research is blind investments. Consequently, these investors are duped. The simplest elixir to avoiding business opportunity scams is research.
Can you escape web3 scams?
Yes! All crypto and web3 scams bear similarities, the fake promise of high returns. Any approaches promising extremely irrational returns are likely innovative tricks fashioned to scam investors. If the deal sounds too good, it probably is. Keeping off such messages or emails is the best way to avoid scams.
