Correction, that was 28 Million USD instead of 28 Billion USD. There are 2 reasons why:

1. They were deceiving their user about their sale status to boost morale and tempting new investors to join it because the project almost reaches its hardcap. I worked in a company before and they were using this strategy to lure new investors, at first we knew nothing about this because of the bar kept moving up periodically. In the end, the company decided to make an announcement because they could not afford to run the project because of a lack of funding to run the project and the expenses needed to run it. That was when we realized they were lying to us.

2. The head of the company ran away with its project company or corruption. I can say this because we never hear anything from the CEO for months, there must be a reason behind this MIA, right?

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The problem still happens, be careful.