The market on cryptocurrency has been extremely lucrative for those who got in it early. The market continues to grow at an exponential rate as many individuals are just now deciding to come into the space. At first, this market seemed like a dream for many, but it has managed to stabilize slightly which many have been hoping for. The CEO of Fantasy Market Jonathan Lucas has been one of many stories where these initial coin offerings disappear with the investors money.
The CEO’s then disappear with the investors money never to be found again. Lucas planned to raise as much as $25 million in capital, but this was then scrapped after many were raising questions about the legitimacy of it. The website for the company has also been scrapped and has now been redirecting investors to seek refunds thorough the company. The company has reportedly been working to issue some sort of refunds, but none has been seen yet. A spokesperson stated that “we planned to issue refunds since we canceled the resale and have been doing so for some time. We canceled the ICO because we simply did not raise enough, and it was not economical to continue spending money on marketing.”
This is just one story amidst a world of others. The cryptocurrency market has sadly been plagued with a large amount of criminal activity and fraudulent activity in the past. When the market first began, bitcoin was only a currency used on the dark web to purchase drugs and illegal services. Since then the transformation has been quite incredible, but there is still a large amount of progress to go. The hopes are high that this market can stabilize slightly as we move into the new year and the coming years as well.