Startup Savedroid played fraud with their own ICO

The founders Savedroid decided to draw attention to the problem of fraudulent ICO in a highly original way, the way of scaring their investors. On Wednesday, the website of the German company suddenly stopped working and were replaced by one picture — «Aannd It’s Gone» scene from the show South Park, which became a meme.

In addition, Yasin Hanker (Yassin Hankir), founder and CEO of the project, posted a message
in his Twitter where he is one of the pictures sitting in the airport, and on the other with a beer on the beach. In the recording he thanked the investors and announces the closure of the project.

At that time, according to the German business media WirtschaftsWoche, the project Savedroid gathered approximately 40 million euros, or about $ 50 million through the ICO and external financing. The company is engaged in the creation of the application for registration of savings, which would use artificial intelligence to help users to automatically invest in selected cryptocurrency portfolios and related derivatives. Savedroid representatives also stated that they plan to issue credit cards to cryptocurrencies, what is often said ICO projects, which later turned out to be fraudulent.

On Thursday, however, the project site is working again – on the main page has a circulation of Hanker Yassin, who claims that the project was not closed. In the video he explains that he doesn’t want to play, but only to draw attention to the important issue of industry ICO scams that collect tool and disappear. He said that the industry needs regulation and standards, otherwise it may disappear because of the fraudulent projects.

Hanker said that his draft is ready to help the regulators and tell them about how best to control the industry, making thus the contribution to its development. In addition, Hanker said that Savedroid plans to launch a private consulting service for the ICO questions for projects wishing to raise funds, which will also include a free check-list for investors to check the ICO projects.

It seems that Savedroid killed two birds with one stone: it reminded the industry about the dangers of fraudulent ICO, and successfully advertised his new project, making sure that each investor gets to know about it. Recently we told
on the largest fraudulent ICO in recent months, and about how to evaluate the project and to save their money.

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