Earlier this morning, the cryptocurrency space exploded in a flurry of activity as word of yet another ICO scam spread like wildfire. Savedroid, the German ICO that promised to create a unique AI-fueled ecosystem of crypto-saving and investing for the masses, has pulled what appears to be the biggest ICO exit scam in Germany.
How It All Went Down
Earlier this morning, investors were befuddled as they were confronted with a single image when they tried to access savedroid’s official website. Everything was gone – there was no countdown clock, no “Tokens Sold” counter, even the familiar face of the CEO Yassin Hankir has disappeared. All that was left was a meme from South Park:
It didn’t take long before netizens, both investors and non-investors alike, began connecting the dots on Twitter and realizing what savedroid was attempting to do. They quickly found another clue – Yassin Hankir’s pinned tweet:
— Dr. Yassin Hankir (@YassinHankir) April 18, 2018
However, there was also a group of Twitter users who refused to believe that savedroid was gone for good. According to them, this was merely a PR stunt pulled by the savedroid marketing team to get them noticed by more potential investors, since “any kind of PR is good PR”:
A couple of hours after the initial wave of shock and disbelief, further proof began rolling in. A Twitter user by the name of cryptopowerz posted a picture of the savedroid headquarters, which seemed to be empty and abandoned:
— WE CAN DO IT! (@Cryptopowerz) April 18, 2018
Then, a video filmed by Theo Goodman was posted on YouTube, and it showed the desolate condition of the savedroid offices. In the video, there were empty beer bottles lying around the office, as if the team left in a hurry after celebrating the success of the ICO/scam:
Promising ICO Turned Bad?
Ironically, SaveDroid is the first German ICO that abides by German legislation and regulation to provide participants with the highest level of security. They have also been approved by the Technischer Überwachungsverein (TÜV), or the Technical Inspection Association of Germany, which provides inspection and product certification services for German businesses. Ever since its launch in October 2016, the SaveDroid app has accrued over 200,000 downloads on the Apple App Store as well as the Google Play Store, with ratings over 4.2 out of 5.
It is reported that the savedroid ICO and presale has raised over $50 million ever since February. CryptoTicker has reached out to the savedroid for an official statement but has yet to receive a reply.
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