A German ICO Project, Which Collected $50 Million, Pretended to Be a Scam

The founders of the German project Savedroid “broke the system” while experimenting with their investors: first they “went underground” announcing the collection of $50 million, which was convincingly similar to a scam. But then they suddenly returned, saying that all this was “a necessary joke.”

German ICO Savedroid, held fundraising from the 9th of February to the 9th of March, 2018. The concept of the project is: “Ecosystem of cryptocurrency savings and investment for all”.
However, visitors of the Savedroid website suddenly saw a message stating that the project was closed on Wednesday, the 18th of April. It was accompanied by a meme from the animated series South Park “Aannd It’s Gone”.

The runaway CEO did not get in touch. Investors already decided that such a promising project turned out to be yet another fraud.

Although, perhaps, not “another”. The organizer not only made it clear that his project was a scam, but also showed investors pictures from the airport and the seaside in his social networks, without a twinge of conscience:

However, today the official website of Savedroid has changed again: at the moment, visitors are greeted by a welcome video of the founder of the project, where he claims that no one was hiding anywhere and that the messages left before were a “joke”.

In his video message on YouTube, Yassin Hankir explained that he only wanted to show investors how easy it was for an ICO startup to hide with their money. According to him, the current situation threatens the future success of cryptocurrency startups and requires active action. Savedroid is ready to share their knowledge with regulators and authorities to make a difference, Hankir says.

This way of promoting new services has caused mostly negative reaction among the cryptocurrency community.