How is that even possible..
A team of 7 behind the Pincoin Token & iFan just did what seems impossible. Through their private & public sale, they have raised an approximate of $660 million from around 32,000 investors, and then ran away.
What do you think will happen now to ICO's and cryptos in general? People will now be afraid to invest, and the legitimate projects will be left behind with nothing...
Sources:
1) https://techcrunch.com/2018/04/13/exit-scammers-run-off-with-660-million-in-ico-earnings/
2) https://www.coindesk.com/vietnam-investigates-ico-fraud-660-million-losses-reported/
$660 million. what a sick, huge amount of money. i would say that people never have to work again. the people seem to have done the scam very professionally. 32,000 investors and no one has previously recognized the scam. really incredible. i am very sorry for the people who lost their money.