Eric Mitchell Porat – Scammer or Crypto Bandit?
Eric Mitchell Porat, an online entrepreneur, has recently made headlines for opposite reasons. When you search his name online, you’ll come across a few business profiles of a New York-based entrepreneur, the CEO, and co-founder of several startups.
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He has profiles on various professional networking websites, such as RocketReach, LinkedIn, etc. However, despite the appearances and the fact that he was mentioned for making a record-breaking investment in ICO funding, he has also done some suspicious things, which led to various companies to call him a fraudster.
7labs has done some research on the individual, reasoning the decision in a report: “Our recent experience with an individual by the name of Eric Porat / Eric Mitchell Porat and one of his companies has raised serious ethical concerns about his way of doing business.”
What is Eric Mitchell Porat Actually Doing?
Eric Porat, the Brooklyn-based online entrepreneur, is the founder of One Acquire Media. He has recently been mentioned in AIthority after his investment in Filecoin’s ICO funding project, which has raised more than $250 million so far.
However, other companies report something rather unsettling about their collaborations with the individual. For instance, 7labs reported it was approached by Eric Porat in mid-2019 through Vayg Media, “with the proposal to take one of our subdomains on a long-term lease.” They did not agree to the terms at first, but after Porat revised the proposal, in February 2020, the company accepted it.
“The episode did not go down well, to say the least,” 7lab detailed. “Eric Mitchell Porat and his associates utilized our subdomain without due approval, violated their own terms, and even hurt our brand. Moreover, even after making a legitimate payment, they filed a payment dispute based on false claims to reverse the transaction.”
In another instance, there’s been a suspicious takeover of various websites, one of which is DroidViews.com. According to Rakesh Shukla, the former owner of the website, Eric Porat, “approached him with a subdomain leasing proposal, in a similar manner to how he had approached us. Eventually, Eric convinced him to sell the domain for a hefty sum of money, took control of the domain by making a partial payment, and then refused further payments based on allegedly breaching the terms of the asset purchase agreement,” 7labs details.
Porat has created a biased agreement to benefit himself in all possible situations, having “an upper hand & enough room to manipulate the situation in his favor, and legally retain control over the domain without making further payments,” as per 7labs.
Entrepreneur Eric Porat’s Filecoin Investment Hits Record-breaking ICO Funding
As we already mentioned, the same Eric Porat has made headlines for making an all-time high investment in Filecoin’s ICO funding project, which released its mainnet on October 15th of this year.
Filecoin’s ICO initially launched in 2017, and accumulated millions of dollars in investment through CoinList, a shared project between Protocol Labs and AngelList. Only some of the most accredited investors could join this project, including Union Square Ventures, Sequoia Capital, and Andreseen Horowitz.
In light of the reports and complaints against Eric Mitchell Porat, we contacted Filecoin’s legal team with regards to any potential ongoing investigations with the SEC and AG Office into Mr. Porat’s affairs, and this is what they said:
“Protocol Labs conducted a compliant Rule 506(c) SAFT offering in 2017 in partnership with CoinList, which was responsible for the affirmative accreditation of all participating investors and applicable KYC/AML identity verification as required by regulation. All SAFT purchasers had to comply with CoinList procedures.”
Various’ businesses experience with Eric Porat has made them consider his previous reported suspicious activities, and most of them say his ethics are pretty questionable. After 7labs dared to report Porat’s deeds, other companies are following suit.
We have contacted the SEC Criminal Investigations Division with regards to potential securities violations and New York Attorney General’s Office for comment.
Update: It has come to our attention that Eric Porat has filed more than a dozen fake DMCA takedown notices with Google. The entire modus operandi is illegal and includes criminal actions like perjury, computer fraud, impersonation and as of now, we are filing a lawsuit against this individual.
You can view the fake DMCA notices here –
We have gathered and preserved all digital evidence for our purpose. We will keep you updated on the legal action and subsequent lawsuit on this blog.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.