German ICO Savedroid Completes Exit Scam Prank
April 19 2018 - 1:32PM
ADVFN Crypto NewsWire
Bitcoin Global News (BGN)
April 19, 2018 -- ADVFN Crypto NewsWire -- Yesterday Wednesday
April 17, a German based media outlet broke the
story of an obvious exit scam. It wasn’t hard to
connect the dots –
The founder of Savedroid, Yassin
Hankir, Tweeted a shot of himself
holding a beer on the beach. The website had been completely shut
down, leaving nothing but a well known South Park
Meme “Aaaand it’s gone.” A video was posted shortly
after of a deserted office space that had been Savedroid’s physical
location.
Today April 18th, the website came
back with a message from Yassin on the importance of establishing
standards for ICOs. He sees the number of scams so far as the “tip
of the iceberg.”
“We need to establish high-quality
ICO standards in order to have a good future for the ICO market to
be a relevant financing tool for innovative, successful and
trustworthy startups in the future”.
Savedroid
The especially ironic part of the
stunt is that Savedroid had proved to be a standard for complying
with German regulation and being transparent with their investors.
The prank was a perfect example of how easy it can be to deceive
the consumer no matter what. The company was established in 2015.
They have a working product in the German market.
Savedroid
App
The Savedroid
app was launched in 2015. It now has over 200,000
downloads. It creates a simple tool for users to help themselves
save money, or inspire personal development in other ways. An
individual will set a rule, such as “if I run a 5k, save $50.” This
removes the action of actually having to take that money and put it
away for good – the app does it for you. It sounds almost silly,
but most people simply won’t save, if given the choice.
Savedroid Token (SVD)
Since founding the company they
have been developing investment algorithms to perfect an AI service
for the Savedroid token project. It is designed to help individuals
invest their money smarter, by putting the “smarter” task on the
computer. By 2019 they hope to integrate payment-processing
capabilities with the toke and app.
BY: BGN Editorial Staff
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