This crypto delivery service is $500,000. took away

Last week, several British influencers talked about the new, upcoming delivery start-up Crypto Eats. As the name suggests, unlike Deliveroo, UberEats and the like, you should be able to pay for your order with cryptocurrency there. So far, so little innovative. The company made a very serious impression. It had a logo, TikTok influencers had advertised themselves and one of them appeared in a video in a supplier uniform. yahoo finance The company issued a press release. There should have been a party too. Last weekend announced the launch of its own token: EATS.

However, shortly after the launch of EATS last Sunday, Kryptoites disappeared from the internet, along with a few million dollars. This was arguably one of the most sophisticated crypto scams in recent times.

In the press release, which has since been published by yahoo financeThe website has gone missing, with Crypto Eats claiming to have raised US$8 million through so-called Series A funding. “How could such a simple idea of ​​accepting cryptocurrencies as a means of payment for food generate so much interest in the crypto community?” The somewhat odd idiom answer was largely that cryptocurrencies were the first real step towards using cryptocurrencies in everyday life.

In general, if you look closely, the press release reads as if it was half-heartedly followed by Google Translate or as if it was generated by an AI that was fed with buzzwords. This provider was sent by GlobeNewswire, which is also used by many reputable tech companies. The text goes on to say that Kryptoites founder Wade Phillips has signed contracts with chains like Nando’s and McDonald’s and hired an army of drivers. This would allow the company to “do it directly with companies like UberEats and Delivaroo.” [sic] Thanks to its algorithm-based blockchain software.”

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The fake company even had its own website. There it was said that it would be possible to choose from hundreds of restaurants. Some of the features announced were very unusual. So you should be able to order different dishes and drinks at different restaurants, which the driver will slowly pick up on the delivery route to your address. In addition, Kryptoites promises coffee delivery within five minutes. Employees should be fine: The company had promised a fixed salary and contribution to pension insurance.

None of this was true. Wade Phillips does not exist.

The Kryptoites token was launched on October 17th – that is, from then on anyone could invest their money in it. However, shortly thereafter the Kryptoites developer wallet moved around $500,000 worth of Binance Coin to various other wallets, and the company disappeared from the internet entirely. His Instagram page, Telegram channel and website suddenly shut down. An email we sent to the address in the Crypto Eats press release was immediately returned. The developers had pulled a so-called rug – this is what scams are called in which developers run away from investors’ money and leave the project behind.

What makes Crypto Eats so exciting is the simple preparation of the scam and the speed with which the project again disappeared from view. Many who followed the action in real time said the company disappeared minutes after the token was launched. Earlier, she had torched a coordinated promotional festival with impressive support for almost a week. YouTuber Scarcity Studios has archived and summarized everything in one video.

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“The coin starts October 17th. All I’m saying is: use your brain. They have more money than they can afford,” personal trainer and TikToker hstikkytokky told her 393,000 followers. “And if you have more money than you can spend and you can come up with something new that’s better than other stuff, we’re doing fine.”

“In a week, a month, two months, this store could be the biggest delivery app in the UK – and it’s not even listed,” hstikkytokky continued.

Rapper Bouncer and DJ Charlie Sloth, who himself has a million Instagram followers, promoted the company and its app. Bouncer also appeared in a video in Krypto Eats gear complete with a Kryptonites shirt, hat and delivery bag. According to the rapper, the company has also talked about hosting a party in London on the launch weekend. Kryptoites bikes are said to have been parked there. The bouncer says that he himself was not aware of the fraud.

“OMG, CryptoEats has proven to be a huge scam,” the rapper posted on Monday. in his Instagram story. “They paid me to do promo videos for their app, not coins. I was invited to their event, where they had all the delivery bikes. […] It is disgusting that people cheat others with their hard earned money.”

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About the Author: Forrest Morton

Organizer. Zombie aficionado. Wannabe reader. Passionate writer. Twitter lover. Music scholar. Web expert.

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