I thought this post was related to some ponzi scheme due to which many crypto investors are loosing huge amount of their savings. One news was related to squid game crypto where it wipes out all the money. Squid Games crypto reached a price of US$2,800 before plummeting to zero and wiping out all the investor wealth. These instances shine the spotlight on how the popular new investment asset class is also a breeding ground for fraudsters. That the value of any crypto asset can change drastically in the blink of an eye is what most investors are now aware of. Similarly, QuadrigaCX was once believed to be the biggest of its kind in Canada. It started in 2013, much before Canadians thronged to risky crypto assets like Bitcoin and Dogecoin in huge numbers. In December 2018, the founder CEO Cotten died in India at age 30. In its investigation, the Ontario Securities Commission (OSC) found that QuadrigaCX was nothing but a ‘modern technology’ wrapped Ponzi scheme that ran on a pyramid structure. The bubble was destined to go burst when the exchange could no longer cover payments to older users through money from new depositors.
So i would suggest please beware before investing in crypto.