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.

Comments

Emo Phillips

[fibonacci8]

"I lent a friend of mine $10,000 for plastic surgery and now I don't know what he looks like."

My money!

[110010001000]

Crap. I invested a lot here. He was using deep learning and AI to manage investments. Since AI and deep learning are totally a thing (I read about it in Slashdot) I figured I couldn't lose.

I'd just like to take a moment to thank

[rsilvergun]

the CEO of Savedroid for helping lower the price of graphics cards.