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| April 26, 2018

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German Cops Look Hard at Antics of ICO Savedroid After Ghost Prank

April 20, 2018 |

German Cops Look Hard at Antics of ICO Savedroid

The same German online news outlet that broke the Savedroid supposed exit scam, turned gotcha publicity stunt, is reporting prosecutors just might have a legal case against the initial coin offering (ICO) outfit.

Also read: Bitcoin in Brief Thursday: ICO Scares Investors with Ghost Prank

German Prosecutors Consider Legal Action Against Savedroid

Wirtschafts Woche, the same German source that announced a $ 50 million exit scam by ICO Savedroid, is reporting prosecutors in Frankfurt are examining the “extreme advertising campaign” of the startup. After an elaborate hoax was played on its investors and the public, the company has been doing heavy damage control. According to the online news group, prosecutors have begun a “preliminary investigation.”

A day or so ago, nearly every media outlet in the space ran headlines about tens of millions of dollars ghosted by a brazen ICO founder. He appeared on a beach, Egyptian beer in a frame beside him. Safedroid’s website featured a well-known meme, circumstantially suggesting yet another ICO has orchestrated an exit scam.

German Cops Look Hard at Antics of ICO Savedroid

But this one seemed off. Veteran journalists, and these very pages, wondered aloud if this wasn’t just a publicity stunt. By later that evening, the site was back up, insisting they were joking and trying to educate the ecosystem about the potential of fraud. “That could have legal consequences for Savedroid now,” the German website stated.

Founder Yassin Hankir released a video statement, asking the public “let me apologize for the drastic campaign.” Indeed, even the company’s Telegram account ghosted during those hours. In situations like these, especially with new investors to whom ICOs are geared, dangerous emotions are often involved, including drastic measures of self harm. Losing considerable sums is no laughing matter, especially if it’s your money.

German Cops Look Hard at Antics of ICO Savedroid
Yassin Hankir

For Education Purposes

Mr. Hankir continued, “We’ve noticed in the past few months that there are a lot of scams in the industry and we believe this is just the tip of the iceberg. That’s why we wanted to use this very drastic method to show that even we, as a very heavily regulated German company, could easily have run away with all investments.”

Noted.

Wirtschafts Woche also revealed that indeed police have visited Mr. Hankir to discuss the issue.

Would you invest in Savedroid now? Let us know in the comments section below.


Images courtesy of Shutterstock.


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The post German Cops Look Hard at Antics of ICO Savedroid After Ghost Prank appeared first on Bitcoin News.

Bitcoin News

German Stock Exchange Subsidiary Announces Crypto Trading App Bison

April 15, 2018 |

German Stock Exchange Subsidiary Announces Crypto Trading App Bison

Sowa Labs, a subsidiary of Boerse Stuttgart, Germany’s second-largest stock exchange, has announced a forthcoming cryptocurrency app. The new app, Bison, is expected to be made available in German during Autumn, with an English version expected soon after.

Also Read: Russian Court Bans Telegram, Founder Pavel Durov Defiant

Boerse Stuttgart Subsidiary Announces Forthcoming App Cryptocurrency Trading

German Stock Exchange Subsidairy Announces Crypto Trading App BisonBison will be made available free of charge and is designed to provide a simple means for investors to gain exposure to the cryptocurrency markets. Sowa Labs has claimed that Bison will be the first cryptocurrency trading app to be backed by a stock exchange, and the first to be released by a German company. Bison states that will not charge additional trading fees.

The managing director at Sowa Labs, Ulli Spankowski stated “Bison makes trading in digital currencies easy. It is the first crypto app in the world to have a traditional stock exchange behind it.”

A prototype for Bison has been presented at Invest in Stuttgart – a German finance and investment trade fair. The German version of Bison is currently scheduled for release in autumn, with Boerse Stuttgart announcing that an English version will be launched later.

The app will initially offer pairings for BTC, ETH, LTC, and XRP, with the company stating that additional crypto assets will be added later.

Sowa Labs Publishes Survey on Cryptocurrencies

German Stock Exchange Subsidairy Announces Crypto Trading App BisonSowa Labs has conducted a survey of 1,019 crypto traders regarding their opinion on virtual currencies. Of the respondents, 81% were male 19% were female, and 54% were thirty-five years-old or younger.

16.9% of respondents confessed to possessing at a single cryptocurrency, whilst a further 18.2% stated that they owned several. The survey against evidence the cryptocurrency space to be male-dominated, with 40.6% of men stating that they have one or more crypto trading accounts, compared to just 11% of women.

More than 80% of respondents opened their first cryptocurrency trading account from 2017 onwards, with 49.1% entering the markets last year. 67.8% of respondents do not trade more often than monthly. Market participants aged over thirty-five trade with higher frequency than their younger counterparts – with 31% of older respondents trading on a weekly basis, and 11.5% making trades at least daily.

Do you think that more mainstream financial institutions will provide cryptocurrency trading apps to their customers? Share your thoughts in the comments section below!


Images courtesy of Shutterstock, Bisonapp.de


Need to calculate your bitcoin holdings? Check our tools section.

The post German Stock Exchange Subsidiary Announces Crypto Trading App Bison appeared first on Bitcoin News.

Bitcoin News

German Billionaire Disappears on Matterhorn

April 11, 2018 |

A “full speed” search is underway for one of Germany’s richest men, heir to the Tengelmann supermarket chain, who failed to return from a solo ski excursion in the Swiss Alps on Saturday. An experienced skier, Karl-Erivan Haub was training for a race when he set off from the Matterhorn…
Newser

German Steel Town Fears U.S. Tariffs Would Deal Crushing Blow

April 8, 2018 |

A German steel mill that has long supplied Europe with wire used in construction could become a casualty of new U.S. tariffs on steel imports.
WSJ.com: What’s News Europe

German Court Opens Path for Extradition of Catalan Separatist Leader

April 8, 2018 |

A German court on Thursday ruled to allow Catalonian separatist leader Carles Puigdemont free on bail, paving the way for his extradition to Spain to stand trial for his role in last autumn’s independence drive.
WSJ.com: What’s News Europe

ECB’s German Skew Raises Questions Over Draghi’s Successor

March 20, 2018 |

Germany’s outsize influence at the European Central Bank is raising concerns among some eurozone officials and banking executives ahead of a decision over whether to name a German to lead the institution for the first time.
WSJ.com: What’s News Europe

ECB’s German Skew Raises Questions Over Draghi’s Successor

March 20, 2018 |

Germany’s outsize influence at the European Central Bank is raising concerns among some eurozone officials and banking executives ahead of a decision over whether to name a German to lead the institution for the first time.
WSJ.com: What’s News Europe

German Government Hinges on Party Tally

February 23, 2018 |

Germany’s political future is staked on a ballot among the fractious rank-and-file of a once-mighty Social Democratic Party still reeling months after its worst electoral showing since World War II.
WSJ.com: What’s News Europe

Top German diplomat: ‘We no longer recognize our America’

February 17, 2018 |

Germany’s foreign minister said Saturday that his country no longer recognizes “our America” as he slammed President Trump’s “America first” foreign policy.
FOX News