Re: [ANN][ICO] savedroid ICO - CRYPTOCURRENCIES FOR EVERYONE

Cointelegraph mentioned Savedroid like a big scam. Now developers must be afraid. No development here, no exchanges, nothing. I think they will be arrested soon.

Quote

According to the study, total funding of coins and tokens in 2017 amounted to $11.9 billion. $1.34 billion (11 percent) of ICO funding went to scams, the vast majority went to three large scammy projects; Pincoin ($660 million), Arisebank ($600 million), and Savedroid ($50 million), which together equal $1.31 billion. This suggests that while a large number of ICOs were scams, they received very little funding when compared with the industry as a whole.

https://cointelegraph.com/news/new-study-says-80-percent-of-icos-conducted-in-2017-were-scams

It's a quote from a study:

Although ~1/10th of all ICO fundraising went to Identified Scams, the vast majority of the $1.3B was from just
three projects, which were all relatively old school frauds by no means unique to ICOs (Pincoin ($660M),
Arisebank ($600M), and Savedroid (~$50M). These projects each did raise those amounts we believe but are
subject to extensive regulatory action. In particular, Arisebank was brought to a halt on January 25, 2018 by an the
SEC obtaining an emergency temporary restraining order, asset freeze, and other expedited relief to halt the ICO3 and is subject to extensive ongoing proceedings with the SEC. Savedroid, a Frankfurt, Germany based ICO, as of April was said to be subject to a preliminary investigation by the public prosecutor in Frankfurt4.
https://research.bloomberg.com/pub/res/d28giW28tf6G7T_Wr77aU0gDgFQ

In April it made headlines that German prosecutors would look into it. That is what the study refers to - it's another aftereffect on their PR-Stunt.

So what does it mean guys? Does savedroid is already officially confirmed 50 million scam? ... by the way I remember pincoin, it was not too much time ago, but I didn't know that they collected so much money, it is really terrible ...

No, they are no scammers. But they've made several bad decisions, especially the PR-Stunt was terrible and the above is a result.

Problem really is that they've damaged trust how I've never seen it before in a project that is no scam. Will be very hard to heal...

Exactly they are making bad decision one after one and not trying to learn any lesson from their stupidity. Even this project is not scam but dev have been lost their credibility and people are not trusting on this project anymore. This is very long process to heal this but nobody knows when it will head towards this.