Initial coin offering (ICO) project UlordChain, or Ulord, appears to feature many sophisticated technical components, but has to date gone largely unnoticed by the media. ICORating’s technical analysts performed a thorough code review of Ulord’s public code repository.

At first glance, Ulord appears to have many detailed components that suggest that it is a high quality project, including a node, a subnode, a wallet, and blockside. All repositories are written in several programming languages and give an impression that large number of developers have participated in developing the code over at least a month.

In performing the code review, our team discovered that the entire Ulord protocol is a Bitcoin protocol that has simply been renamed. Our analysis of the commits, the code refactoring, and the cleanup indicate that much of the code may have been taken from a different project and renamed to look as if it came from Ulord developers.

Our technical analysts concluded that Ulord may indeed be a copy of another ICO project called Rootstock (RSK), being developed and promoted by RSK Labs, Ltd. Ulord appears to have replaced all Rootstock and RSK titles with USC and Ulord titles.

Find screenshots of the code review, additional links, and more details in the PDF version of the document.

Source: ICORating.