The crypto space imploded yesterday as one of the hottest ICOs in the industry was deemed as a cleverly organized scam. The headquarters of Savedroid were empty, the CEO of the firm, Yassin Hakkir appeared in a Youtube video saying that the static display on the website which states that the company has disappeared with the money of 35,000 investors, was a just a farce.
Hakkir is greatly underestimating the intelligence of his investors if he thinks that this PR stunt which he calls “drastic campaign” will be viewed positively by the community. Not only has he undermined the trust of his investors, but also has greatly impacted the views of any prospective cooperators in the crypto space.
But let’s pause for a second and entertain the idea of the company not being busted. After all, yesterday Bitcoin enthusiast Theo Goodman posted a video of the company’s office. On the video and from a couple of pictures posted today, we see that the office of the company is still empty and no computers are present anywhere near the LCD monitors.
In a blog post, Goodman explains that nobody was present at the office of the company when he arrived there yesterday. The CEO, Yassin Hakkir, was supposed to speak at a Frankfurt event on the 17th but didn’t show up.
According to the blogger, no persons were present at the office of the company today, and some people were cleaning up the premises yesterday. All the while, some people that have left the firm are still listed on the website of Savedroid.
One thing is certain, Hakkir managed to piss off a lot of investors and some partners too.
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All assets from the @savedroidAG ICO are safe and under no circumstances could have been withdrawn due to #escrow. @BankFrick fails completely to understand the PR stunt of savedroid’s CEO @YassinHankir as we prefer working with professionals. @RA_Hellinger @PNDally pic.twitter.com/UnQMbvH5kR
— Bank Frick (@BankFrick) April 19, 2018
In a 5 minute Youtube video posted on the website of Savedroid, the CEO of the company explains how he was trying to raise awareness about fraudulent ICOs and the whole fiasco was a campaign to raise public awareness about scams.
I can’t imagine a lot of people will buy this, especially after Hakkir has explained how he now plans to start an ICO consultancy. I for one can’t believe that anyone will be trusting this guy with anything remotely close to this industry, let alone another ICO project.
Granted, the points raised by Hakkir in a manifesto which he published on the domain anditsg.one are valid. The crypto industry needs a drastic overhaul in order to be considered as a legitimate investment destination. However, is executing dubious pranks going to help it in any way? We do not need a reminder how many fraudulent entities have engulfed the crypto space, we only need to look at a Youtube commercial that has been circulating around lately.