Hey Savedroid... long time no see!
How is it going? Is it true that you guys have some legal trouble?
I'm still sad that I was kicked out of your channels btw, especially if we think about what I said at that time. Imagine you would've listened to my advice to refund those who wanted out after your "PR-Stunt"... I bet, not only your Investors would be more happy but you as well. True or right? ;-)
what legal issues happen to savedroid developers ?
I have SVD token, last day I'am bought SVD On exchanger HITBTC.
if this will have an impact on this project I will get out of this zone as soon as possible.
Others know more about this, because I didn't invest or buy and also didn't follow the more recent developments. But there are german articles like this one:
Betrugsvorwürfe: ICO bei Savedroid hat juristische Nachspiele
https://block-builders.de/betrugsvorwuerfe-ico-bei-savedroid-hat-juristische-nachspiele/Most important points:
- ICO-Investors sue Savedroid to get a refund
- Prosecutors have reopened case because of fraud
- Savedroid sues the lawyer who acted as escrow and who holds back funds (because of irregularities of the ICO)
About the business/success so far:
- "(...) according to 'Bundesanzeiger' they made only 65,42 Euro in 2018."
- Hankir doesn't give any numbers
- "Allegedly Hankir doesn't know how much they made in the ICO"
The article concludes with saying:
"Even if the legal battle might be an open case and it's possible that Savedroid has some chances to get away with a 'blue eye': It seems that the names Hankir and Savedroid are burned in the cryptospace"
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This is how we discussed this project 1.5 years ago, right after their PR-Stunt:
dear investors and victims.
I am also one of many Savedroid investors, and for me there's only one possible excuse:
Savedroid has to offer a refund!
hereby i advise everyone (who like) to apply for a refund.
i have requested my refund at
marco-hilft@savedroid.de and sent it CC to Mr. Hellinger who's Escrow for BTC/ETH.
so who participated with BTC/ETH should send his refund request CC to Mr. Hellinger (
www.hellinger.eu)
Anyone who participated by wire transfer or credidcard should send to bank(at)bankfrik.li
Several of their Investors asked for getting refunded on Telegram and it's always the same. Last conversation about it went this way:
Q: When refund?
A: Refund is allowed 14days after you registered.
Q: Why not 14days after marketing fail?
A: I'm sorry but that's one of policy.In my opinion they've really crossed a line to fraud, because:
1. Their pretended message is based on a lie. They
could not have stolen the funds, while Yassin even said in his infamous video that it would have been easy to exit scam with all of the funds. A german journalist of gruenderszene said on youtube that Yassin didn't want to give an answer on the question how much of the money they really could have taken. Surprise... because the answer is: near to nothing or even nothing, especially no Crypto.
2. Besides the fact that their pretended message about regulations is totally trivial, it's actually even worthless in that context. There is no regulation against insanity. Since they didn't think through it and acted deceptive, I highly doubt that the message really was their true intention. If it was, it just proves their superficiality and inability of thinking through stuff.
3. Their real intention behind this PR-Stunt probably was to promote their new business-idea of ICO-advisory, which has nothing to do with the use case they've sold during the ICO. To invent a new business that has nothing to do with the usecase that was promoted to sell out the ICO would be a no-go anyway, even without the self-destructive PR-stunt.
4. Yassin said in a german interview that they don't think their PR-stunt will have bad impact on the future price of their token, otherwise they wouldn't have done it. The latter implies and underlines the pretense of being totally sure about that. That must be another lie, because nobody with an IQ above a cake could believe to be able to make such a prediction. Truth must be that they didn't care about Investors or again: are not able to think through stuff.
5. Investors beg for actions to repair the caused damage, but how should they manage that? It's not possible to get on top of the communication if confronted with several of their own lies and the inconsistency of their pretended message. Anybody seen any public communication of the leadership lately?
Quote:
"Yassin has currently not answered our request to interview him and post the results publicly. We will update the situation in case anything changes."https://medium.com/@BestofICOs/savedroid-the-damage-caused-4de56625aa266. They reject all requests of Investors who wish a refund. Of course they don't want to give the money back. It's about $50 mln in Fiat, Bitcoin and other Cryptocurrencies. And while prices of BTC and alts are rising, Investors of their token are in hostage and can't do anything but wait. #stockholmsyndrome
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If they would have been fair they would not only agree to refund those who would like to get their money back but even would've planned a refund into the "PR-Stunt-Strategy". Afterwards they would've refunded everybody and then announced a new ICO - also as kind of a poll/voting about their PR-strategy.
That would still have turned out to be a stupid move, it still would have been irresponsible. But at least it would have been a little bit better and also give them a better situation to react on accusations.
But they know they've fucked up, so they prefer the corner they've put themselves into while keeping the money, because they know they wouldn't ever get $50 mln again...
The interesting part about this situation really is to subdivide it all into the topics Inconsistency vs. Consistency, what they really care about and show real committance and what they don't care about. What they really cared about and where they have done a great job actually: To market their ICO and get a lot of money.
Everything else shows poor strategy, incompetence, selfish and ruthless action, inconsistency and even deception.
