Cryptocurrencies have no official regulation so far, meaning that the rules surrounding it are pretty much like the ‘wild west’, aka there are no rules. Hence if you invest your money you could see big returns, or watch it all go up in smoke.
We, here at The Goldwater have been following crypto for a while now and have been keeping you all updated on Bitcoin, Ethereum, Ripple (and even Dogecoin over the weekend).
You have learned that some sites could get ‘hacked’ and then the customers would be paid out with a loss or not even paid out at all, but this last one tops it all.
Fantasy Market, also called FMtokens, a cryptocurrency site where customers could pay in Bitcoin, Litecoin, Ethereum and all to watch live-streamed porn, has closed up shop after investors brought in the necessary funds.
The CEO, named Jonathan Lucas, had aimed to raise as much as $25 million last year in a presentation that he showed to would-be investors in Palo Alto, California.
Having gotten to that goal, the website has now closed down and Mr. Lucas has taken off with the $25 million of investor’s money.
Four investors in the digital currency are now claiming that their investment has disappeared.
Given the subject of the website, the investors wish to remain anonymous at this point, but vented their anger online, with one of them saying: “Jonathan Lucas, most likely an alias, has scammed us and run off with the cryptocurrency.”
“Recently I wrote threatening to file police and FBI reports,”
“Within hours they refunded me Ethereum with a dollar amount equal to what I had contributed in early September, but since the coin has more than tripled in value since then, they kept the rest of my contribution, essentially stealing quite a lot of money from me.”