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German ICO Savedroid Pulls Exit Scam After Raising $50 Million (techcrunch.com)
German company Savedroid has pulled a classic exit scam after raising $50 million in ICO and direct funding. The site is currently displaying a South Park meme with the caption "Aannnd it's gone." The founder, Dr. Yassin Hankir, has posted a tweet thanking investors and saying "Over and out." TechCrunch reports: A reverse image search found Hankir's photo on this page for Founder Institute, and he has pitched his product at multiple events, including this one in German. Savedroid was originally supposed to use AI to manage user investments and promised a crypto-backed credit card, a claim that CCN notes is popular with scam ICOs. It ran for a number of months and was clearly well-managed as the group was able to open an office and appear at multiple events.
Why does anyone fall for this anymore? There was some survey recently where more than 80% of ICOs were scams.
Velociraptor = Distiraptor / Timeraptor
Are (any) fiat-currency and (any) cryptocurrency really equivalent, as cryptocurrency fans claim?
For example, US Dollar and Bitcoin are really equals?
Value/validity/authorization of US dollar is provided/guaranteed by US Government (and in-turn whole US Public)!
Also, not to mention, US Dollars in any US Bank is insured by US Government!
What authorization/guarantee/insurance is behind Bitcoin? Nothing!
Sorry but that is the end of discussion then!
Why do you think Satoshi Nakamoto is really hiding his identity, if Bitcoin is really such a great innovation?
He is just someone does not like media/fan attention?
Or, could it be really because Bitcoin (and all cryptocurrencies followed it) are actually Ponzi Schemes?
(So he knew very well that law enforcement would come after him sooner or later?!)
If so-called cryptocurrencies are really good innovation, why they attract so many criminals/criminal activity?
Could it really be because, all cryptocurrencies themselves are scams, and that is why they attract all kinds of criminals/criminal activity?
If so-called cryptocurrencies are really currency, why no company/store can use Bitcoin as currency anymore?
Because the price of Bitcoin proved to be extremely unstable to use as a currency?
Would the result be different, if Bitcoin replaced by any other "cryptocurrency"?
Aren't all work the same way?
If so-called cryptocurrencies are really money; isn't people issuing their own money, illegal already, in all countries?
If so then, why they are still not banned in all countries?
Or, they are not actually virtual currency but virtual investment?
But, if they are actually investment, why we need/want them?
What would happen to world economy, if people invested in virtual investments, instead of real investments?
Or, all so-called cryptocurrencies are actually just a modified (made decentralized and paying variable interest) Ponzi Schemes?
(Price of cryptocurrencies would keep increasing in the long term (by their design), so it is equivalent of paying variable interest to all long term investors.)
As more and more people invest in cryptocurrencies, it will become harder and harder to ban their trading everywhere!
All cryptocurrencies need to be banned globally before it is too late!
It ran for a number of months and was clearly well-managed as the group was able to open an office and appear at multiple events.
If this is the kind of due diligence people do before investing(*) in crypto-currency, I see why so many people get scammed. "Well, they have an office, this company is clearly well-managed, must be legit".
(*) And when I say "investing", I mean in the same way that someone feeding their paycheck into slot machines is "investing"
"Investor" is just a euphemism for a stupidly rich person who lives off others producing something valuable, making him even more stupidly rich just by waiting and making no big mistakes.
"Crypto currency" is a scheme of some people who weren't stupidly rich before to become stupidly rich in the process, without anyone producing anything of real value at all.
"Investors" investing in "crypto currency" getting scammed do indeed get what they deserve and what sooner or later will happen to virtually all investments in crypto currencies. They should even be thankful if it went quick this time. Although there's not much hope the intelligence-greed-coefficient of those who invested in the discussed case might let them learn something from it.
AND IT'S NOT GONE
https://ico.savedroid.com/
savedroid was here, is here, and will be here. Aaand savedroid is all in for establishing high quality ICO standards.
End of Line.