Addressing Community Concerns

Dear community members,

Former CAS token holder, Sultan, started to once again create FUD in the Cashaa community. In the past, Sultan used multiple ID’s on Telegrams such as Sultan, cryptoniteapollo, davidrocks, robertmockingbird, robertalltheway and recently lionkingexposecashaa, ApolloFintechCryptoNews, RealHitman, etc. Most of the time his intention was to get attention and receive favours from Cashaa such as extra bonuses, priority services or a faster reply to his support tickets.

In June 2019 he also officially complained to the FCA but he was refused any help from the regulators for his baseless complaints. He then started activities like creating Telegram groups to spread misinformation. Since he was part of our community we decided to give him a warning after which he removed the false allegations in the following article:

Sultan publicly acknowledged that he has been losing control of himself and to sometimes behave abnormally in one of the Telegram groups he created. Below is a screenshot of his confession.

I feel it is my responsibility to guide my community by giving them the right answers and hereby stopping any further FUD and SCAM claims concerning Cashaa. All of Sultan’s allegations are baseless but unfortunately, they have already been damaging for Cashaa due to causing Fear, Uncertainty and Doubt with many of our community members. Below are some points I wish to clarify.

  1. Concern over creating a new company ‘Cashaa Technologies’, instead of using the existing company ‘Cashaa Limited’.

‘Cashaa Ltd’ was a fully owned subsidiary of ‘Cashaa Holdings’, who was managing the ‘Cashaa P2P’ product, released in June 2016. We have later discontinued the P2P product, as I envisioned Cashaa to become a full Crypto Banking solution. Therefore, after following the legal procedure, the non-functional company known as ‘Cashaa Ltd’ has been dissolved.

‘Cashaa Holdings’ became effective before to start the token sale. After our ICO has been concluded successfully we started aggressively working on the roadmap from April 2018. In October 2018 we formed ‘Cashaa Technologies’ to establish banking relationships with various financial institutions in the UK. We have reached most of our goals as mentioned in the Roadmaps’ timelines, admittedly with some delays outside our control. In 2019, we were finally able to onboard our first business customer. The link below sums up Cashaa’s journey until now.

Sultan claims (1): ‘An important fact to also mention is that since Cashaa was started, pre ico.. and during and after too. it was always known and trading as the Cashaa Limited — please see link-’

FACT: The CAS token sale was conducted by the Estonian company known as ‘Cashaa Holdings’.

Sultan claims (2): ‘Kumar Ventures has suddenly come into the picture.’

FACT:Kumar Ventures’ was created at the same time as ‘Cashaa Technologies’ (October 2018) to hold Kumar’s shares in ‘Cashaa Technologies’.

Please read the information available on the government website to check the facts. As I mentioned above, Sultan has always used his tricks to get attention for himself, and this time it is the ETH which he sent to the project known as AuxLedger in return for XAL tokens.

2. Speculation on my relationship with Auxesis Group & AuxLedger.

It’s no secret that I am the Chairman of ‘Auxesis Group’. Being the Chairman does not mean that I am involved in day-to-day activities of the ‘Auxesis Group’. AuxLedger is a blockchain infrastructure which was architected by Akash Gaurav, initially developed by ‘Auxesis Services and Technologies Private Limited’ (Auxesis Group). The project started inside IIT Bombay, one of the top Indian Engineering universities, with the active involvement of students and research scholars in the project. The project further received huge success in the Indian Blockchain space where they worked and partnered with various bodies of the Indian Government, Fortune 500 companies and a number of startups to evolve the overall ecosystem and the technology.

Last year in February 2019, AuxLedger’s public network was inaugurated at Blockchain Summit India in IIM Lucknow, the top management university in India. The event was supported by the Department of Science & Technology of India and the State Government of Uttar Pradesh with ‘AuxLedger’ being the major highlight. Later due to the involvement of other researchers and regulatory issues related to having a public token model in India, and due to conflict of central bank guidelines, the project was separated from ‘Auxesis Group’. It was moved to a new company called ‘Auxesis Innovation Lab’. ‘Auxesis Innovation Lab’ has no relation with me or ‘Auxesis Group’.

The AuxLedger token sale was conducted by ’Auxesis Innovation Lab’. ‘AuxLeger’ has released an official statement about the issues they were facing in India due to the growing pressure of the Crypto ban and explained why the project was separated from ‘Auxesis Group’. They have also mentioned in their previous Medium article that their operation was going to re-start after the Supreme court of India unbanned Crypto on 4th March 2020. However, the COVID-19 pandemic spread and global lockdowns were enforced and the re-start had to be delayed. Please find the public announcement made by ‘AuxLedger’ following the Supreme court decision in India.

I personally do understand very well how difficult it is to continue a project while 100’s of other projects have ceased to exist. I, therefore, commend the job of Akash Gaurav, his team and VC’s who supported the ‘AuxLedger’ during a difficult time. Despite living in opposite time zones and my busy schedule, I kept in contact with Akash, whom I found was doing the best he could possibly do.

I had a discussion with Akash and I came to know that in December 2020 the XAL token will be distributed to all buyers and will be listed on Uniswap. I would like to suggest that all the XAL token buyers keep an eye on the AuxLedger’s Medium page for project updates.

I can certainly understand it’s not easy for people to wait for more than a year to get the tokens after their purchase. However, taking time due to uncertainty is not unseen in the Crypto space. For example, recently in the Telegram token sale (US$1.7 Billion) buyers have waited more than two years for the conclusion. Now users have an option to receive a 72% refund of dollar value or can wait for another year to get the TON.

Nevertheless, I am happy to take responsibility for our Cashaa community members who bought the XAL token because of the impression of me being involved with AuxLedger, although I have not been involved whatsoever. To end the FUD concerning AuxLedger in relation to Cashaa, I would like to give our CAS Community members who purchased XAL tokens the following options:

  1. I can buy your XAL token contract at your purchased price and give you 100% in USDT, equivalent to the USD amount invested at the time of payment.

2. You can wait up to 4 more weeks to receive the XAL tokens to be distributed and then trade at Uniswap.

USDT will be given into your Cashaa account, but to qualify you have to demonstrate that you are a loyal Cashaa community member and had CAS tokens before buying the XAL tokens.

  1. You, therefore, need to forward the email received from Auxledger confirming your purchase.

2. Transferring the ownership to me by confirming that you have waived your rights of receiving the XAL tokens.

3. You will need to include the email address you’ve been using for your Cashaa account to

However, for spreading FUD about Cashaa, causing reputation damage, personally attacking and threatening me, which is a criminal offence, I have decided to sue Sultan for US$1 Million. He has been and keeps spreading rumours, twisting facts while ignoring multiple warnings in the past. Sultan is obviously free to reach out to law enforcement and we will be happy to settle any claims in the courtroom.

The existing Cashaa community is certainly aware of the damage Sultan has done to Cashaa so far, and for any new community member, I would like you to contact me personally if you have any doubts or queries. I am available on and on Twitter to answer any query.

My last and humble request is to please do proper due diligence on any project and always read the terms and conditions carefully before buying anything. AuxLedger and Cashaa are different companies and I kindly ask you to not start any discussion concerning AuxLedger in the Cashaa Telegram community channel.


Kumar Gaurav

Founder and CEO, Cashaa

Kumar is a serial entrepreneur who was awarded an extraordinary status by the United States government. He is the CEO of Cashaa and Chairman of Auxesis Group.