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/
How shameful the team is. Are they that greedy to do such things to those people who believe in them who believe that their project will be successful. That's why most of the investors must of us hardly trust ICO even me, even though I participated a lot of bounties only I'm still worried that my work and efforts will be dump because of scam ICO.