Yes another pulled off exit scam. This time a Nigerian cryptocurrency wallet that is said to have stolen $1 million worth of funds. Withdrawals started around April while the CEO blamed the servers being down.
This just goes to identify and support Ciphertrace's AML report as 2019 being the "Year of the Exit Scam" The report claims 3.1 billion dollars were lost in exit scams this year alone.
https://coingeek.com/nigerian-crypto-wallet-satowallet-disappears-with-users-funds/Though I have not heard about this wallet but it does not remove the fact that alot of people have lost their resources in this scam which has further dim the fortune of crypto as it concerns the trust that we expect people to have in the market. Because its not popular showed that its still in its development stage and further dim the chances of the number of projects that are trying to leave the shadow that have plagued the projects that have launched in crypto especially the alt coin and ICO or IEO market.
The most annoying part of it, is the fact that we can only post and make noise about it and in the next few days it subside while the perpetrators of this exit scam becomes young millionaires and no one to be held accountable. This is a set back and needs to be addressed.