Bitcoin Forum

Any thoughts about this Cointelegraph article?

https://cointelegraph.com/news/sec-busts-fraudulent-ico-endorsed-by-floyd-mayweather-founders-defrauded-32-mln

I thought it was repulsive for Centra to create fake profiles and biographies to promote their ICO, but from what I saw it looked like the company had turned things around and was becoming legitimate. Supposedly they have a live product now and have been issuing cards. What do you guys think?

Is Centra done? Is a dead cat bounce in sight? Can the company bounce back?

This is big news.

I wouldn't expect the price to skyrocket anytime soon. If you're holding, buckle up. If you're looking to short it, I would wait awhile to buy until I started getting indications of a floor.

But what do I know, I'm not a financial advisor. I'm a talking monkey.

I read the news on some online site. It saddens me because I have got a few of the coins though the coin is in a dip now. It will be hard for me to sell off now knowing the loss that I will suffer. I actually bought in when I read that it had Floyd Maywheather's support but what is happening now is quite sad.

The moment I saw Floyd Mayweather  endorsing Centra, I have a hint that it can't be trusted. Mayweather is known for making money and I believe he will endorse anything as long as the price is right.

Also Binance announced that they may remove it from exchange. It is now -62% in binance

I thought of recent that Centra was starting to look like a good option to buy as they were moving forward with the wallet etc. With the current news of 2 ex team members being arrested and Binance putting out a statement saying they're risky and will look into it more for possible delisting I'm not to sure now.
It's a interesting one to keep a eye on because if they only have to do a few things to please the SEC and can continue on with the project SEC compliant then at this current price now ($0.13) it's a steal.

I just look at coinmarketcap and Centra already lost almost -60% within 24 hours because of this negative news about their founders. History repeats just like what happen on Bitconnect. I'm pretty sure that their investors and holders are now on panic selling. It is a serious crime and even Floyd Mayweather was being charged on endorsing their cryptocurrency. It will be impossible for Centra to get back in track unless a miracle happens.

Im Glad I sell  my CTR on Binance last January whew Mr Parkas, Trapani,Sharma are founders of Centra I though it was settled then this is a downfall of Centra Tech I think ! will Centra Tech is a Miami,FL USA base startups US SEC has a sharp Fangs to bite anyone in his territory who not following the US laws. But for my personal opinion Centra tech has a good and working product.

I think they just did the integration without the founders ' agreement. But I think now they have 2 options, cut the company with other organizations, or to go to jail. For of course the best would be option 1. Since the shares will creep up due to the fact that it will become legal not only in words and whitepaper.

I was just banned from Telegram for criticizing the founders for using fake profiles on the website. Breaking news: Centra Tech is banning people who tell others the truth on their Telegram.

Centra is about to drop below .10:

https://coinmarketcap.com/currencies/centra/

 I think all the exchanges will drop this token.
This is the problem that many altcoin has now have no value, they only have the value of hype, so most of the projects face legal problems.

if they were using the companies like visa and mastercard to collect the money while also using the fake profiles, these people deserve the jail as they were stealing the money from people..

Thats worst can happen to all of those who think that they can earn and run with the money that middle investors like you and me do. I did not know anything about the government issuance notice about the celebrity endorsed ICO ? I read at the bottom of article that SEC published a clause with this quote
Thats really bad for the celebrity themselves as it could compromise their career as well and the ICO's might turn upside down on them.

I do believe that Robert and Sharma must have had the plans of robbing the ICO investors since the first date otherwise they would have never flee aways from the own country. That made it more suspicious though. This is bad arrest. ICO owners with such intentions will always be behind the bars.

Saw it drop more than 60% in the morning on Binance and was searching for the reason for such a big drop then came across the founders getting busted by the SEC. With the amount of scams happening in the ICO world its about time the SEC started doing something about it.

Big news? this is nightmare for us, not for centra holder but also crypto trader. Actually, we don't know who behind ICO project, we just doing some analyze depend our knowledge and experience to decides which one is the worth project to follow. From now, we should more careful to replace our money and try more harder to collect more information about ICO project before too late. 

Look for CTR price - somebody is still buying it, why? They don't know bad news?

Some people are also still buying bitconect.

Who knows why, the news that it's a scam has been out for so long now. ;D

This is very bad news for the whole cryptocurrency sector. Centra is currently losing 67% but if the allegations are confirmed, this project will hardly recover. A general regulation is increasingly urgent to protect the cryptocurrency market and all of us

Prices crashed pretty hard for Centra after that announcement.

There is a reason that they got arrested. Fake biographies and profiles for their team members is not acceptable, even if they do have a working useable product. As far as I know Mayweather was just in this for the money and not actually using Centra.

I can't see its price going up any time soon, to be honest. Being a pretty much centralized token, losing your founders are tough.

Common sense dictated the founders would eventually get in trouble for pulling the fake profile stunt. Nowadays, with the internet, it's easy to verify if people are real. Sadly, this will damage the whole cryptocurrency space to some degree, but hopefully the SEC will make an example of these fools so others are deterred.

They gathered enough money to pay good lawyers and pay all penalties the will get. Who gathered more then $10 millions already won no matter what they will deliver or how much lies they gave to their token buyers.

From the beginning, the Centra project looked suspicious. Already at the time of ICO, some participants declared that it was a scam and provided some evidence. Then badly treated with bounty hunters, which also speaks ill of this project. Advertising with the Mayweather of many bribed and forced to carry money into the project, now investors suffer heavy losses.

Yup.  I don’t recall the details anymore but there were several threads on here with proof as to why centra was a scam.  It sucks for those that got scammed but people need to learn that they can’t just blindly throw money at ICOs and need to do a little research first. 

Well the ICO was very suspicious at the start and the DT members had to negged the OP of centra ann thread and some participants were able to post proof to prove the project was a scam and some bounty participants didn't paid although they've reach the quota now the dev of this coin was arrested the coin is pretty much dead now. I suggest that sell all of your coins while you can.

OMG, if the coin owners got arrested then dump that coin like Bitconneccttttttttttttttttt. How come Mayweather didn't check the identity of the crypto he endorsed. Another coin owners with fake profile is Monetha.

With the founders being arrested, unfortunately now there is only one direction for this coin: going down fast.
It's not good news for the crypto world that things like this are happening.

This is awful most of the people who keeps centra will surely lose their money,mayweather is promoting this ICO and he should be put to jain too,because im sure he is one of the founders or if not has big investment to the project that is why he is promoting it in his own will,the SEC should put these people into jail if they are proven guilty.

Of course the masses will still get online and tell everybody else how they should ignore the laws with what they are afraid to do . Talk is always cheap.

This sector is now becoming a jungle, not even the best projects can be trusted. Centra was a great platform, it seemed a very serious project, with a team of great professionals who were instead of false people to what is understood. What a bad story, we hope soon comes a regulation to protect ourselves from these scams

This really doesn't surprise. That is what I like about Bitcointalk. The posts aren't going anywhere, especially the ones giving legitimate negative news about companies.

I'm glad they got arrested.
Last there was a lot of back and forth on this forum about the scamminess of centra with a lot of evidence to back it up.
And, of course, the fomo noobs were all like, "It will moon! Don't spread fud!"

The forums are getting better, but for a long time, you couldn't post anything critical about a project/ico/coin without people attacking you with, "FUD! FUD! FUD!"
Well, I guess it still happens but not as bad as before.

The result? An obviously bad investment got pumped hard.
Fools absolutely ignored the red flags based on concrete evidence and I have no sympathy for those that will be holding bags of centra shitcoins.
Seriously, it's like there is a sign at the edge of a bridge that says, "Warning! Walking off bridge will cause bodily harm!" with even videos that show it happening.
Yet people in their dreams of lambos completely ignore it and walk off the bridge anyways.

Just think of bitconnect? How else was such an obvious ponzi scheme able to last so long?
I really hope that this past three months has taught a lot of the crypto investors to wisen and grow up.

I was part of the ICO and they were shady from the start with the bonus and the free card being offered during the sale.Glad I sold the CTR tokens a few months back or would have ended up with a loss.

Yes, this scam project!
The guys just stole all the money and washed away, there will be no more excuses here guys do not expect!

Never like to hear bad news about anyone in the crypto community. It's good to hear that there is protection in place to prevent fraud, but this kind of news can really hurt investor confidence all around.

This is a welcome development for the cryptocurrency world. Any ICO that is a scam should be fished out by SEC because they are stealing from the masses. Centra founders should be used as the escape goat. Thanks

Nah, sorry for holders but this was obviously a scam from the beginning and anyone with 2 eyes and a couple weeks in crypto could sense it, add that catastophic interview shawarma guy had with Clif High who exposed the whole project and the little detail of fake profiles and pictures on their site... It's good news for the space this crap gets eradicated. Just look at the "lending" ponzis, all went down rather quickly after bitconnect and now there are almost none stealing noobs and morons money anymore. Same will happen with shady Ico's which is also positive...btw centra was a little relatively unknown coin who got all the publicity fron a famous boxer. Again, sorry for holders, but you will make sure now this doesnt happen to you again. Triplecheck projects!

The secretive, hidden nature of block-chain and darknet allow such frauds to occur. Time for leading authorities to find a solution. There must be solutions.

For me, this is good news. I believe that this is only the beginning and there are still about 1500 coins and tokens))))

really the very worrisome news ICO Centra was very successful, hopefully there is a way out for investors who are stuck in a very expensive price. This incident made the ICO name a little worse.

This seems to be a good thing because those cheaters are caught in the act,though they have tried to scam people they didnt do it isntead they tried to legitimzie the project but the SEC wont stop fighting these cheater they should be incarcerated for these kind of acts so that no one will follow the path they have taken !

With this development about the centra project, I wonder if the crypto universe is still against crypto regulations because I believe in a regulated environment that is more transparent. An issue like this will not happen as projects will know what is legal and what is not. Also
I believe regulations will provide a safer and investor friendly environment.

Afterall regulations are only meant to protect the investors

How much had been raised during the ICO?

Seems to be legit becauase centra's value has been dumping right now and it couldnt recover anytime soon ! we should ba taking these news seriously if these are real news we should get out fast because sure SEC will freeze all of the centra's assets including the trading of these coins from most of the exchanges and we shouldnt let that happen!

How did this coin fall, this is my worst investment!  :'( :'( :'(   Interestingly, in the future there will be many such cases?

This is the worst thing that a coin can ever had,centra founders has indeed used fake profiles from its ICO but i have heard that they are trying to legalize most of their activities,they have been registered legally that is why these people are going to affect centra's progress,or might be the reason why centra will be dumped too hard.

First I read it on some online site.I just couldn't believe it.Then Binance announced it.It is a very sad news.Founders arrested.So at this time its hard to bounce back for them.
but centra have a live project so maybe there's a chance on a long hold.Maybe.But what centra did is a real shame for all icos.Let's see what happen with them in future.
And yeah this is my one of the worst investment.

So this is the reason of the sudden drop of centra's price,which is very bad for those investors from the past who are holding most of the coins they bought from its ICO,i pitty those people who got fooled by these scammers,even though they didnt scam people the fact that the founders didnt use their idenitity people still received what they have deserved,those people who dump it earlier wont have any problem for sure.

Gate.IO paused trading this morning and Binance released a notice saying they were looking into the matter. Its hard to tell how serious this is, Binance says they will a 72 hour notice before de-listing.   ???

Well this is news that we will be watching, the moment I saw their romance with certain celebrities. I knew all eyes regulatory etc. will be on them, now this. Lets see how it goes then.

Well, everyone here discusses the bottlenecks of the project, someone even mentions Mayweather, but just if to be sober: which project is secured in the cryptomarket? Nobody can give guarantees as for any project in it. Maybe, Centra was only the first one...

They're going for the most obvious and public scams. Centra wont be the last. Thats why its so important to do your due diligence with each project, specially for projects from the US.

This might be the end of centra coin,that is why its price is getting dump today most of the people knows that it must be dumped immediately just to be safe from the potential losses few hours from when this news has come out,floyd should be arrested too because he was an instrument to promote this scam to the people !

Scammers deserved to be incarcerated so these no one will follow their footsteps! these scams shouldnt be tolerated that is why we need to check the background of the team behind the ICO so that we can prevent events like this! if you did your own research before investing you could avoid these type of coins which doesnt have any good development at all.

They deserved to be punished,the SEC has indeed doing their job very well to prevent these scammers in the future,we need more like this! do protect the citizens of america to these fraudsters so that there will be less damages from people's lives! never let anyone to get your hard earned money in an instant   always be vigillant so that you wont get scammed by these shit people!

I was participated in the bounty of this project. These scammers did not pay me anything. I'm very glad that they now have problems. I think that they deserve it.

Well i guess they have received their karmas all at once,scammers shouldnt be given a chance to live they should all die with hangging or lethal injection so that less people will try to do the same thing,or to follow their footsteps because these people are stealing hard earned money from the most of the investors!

Centra token already died and RIP ctr token. binance's delisting news give a significant impact to the centra. I know that binance gives a vast daily trade volume to the centra token. It will never bounce back again.
Not sure if the centra project can deliver the product because US authorities will automatically seize all of the funds. I glad to sell all of my CTR when it cost $3 for each ctr token.

Yeah... I read the news, SEC arrested them for selling security tokens which the SEC is against and because of that, exchanges threaten delisting them and the price went down as low as -90% on bianance. I just hope they resolve because I have their tokens.

I never interested in Centra. It was detected that centra is scam when it launches ICO in 2017. Now the founder is arrested. That is a good news for ICO investors to be careful with ICO that offer card issue. Wavescrest the partner of visa have halt cryptocurrency service. If there are new ICO like Centra that offer card Issue, I think you should avoid the kind of fake projects.  I usually use visa VCC service via shakepay.co. Since wavecrest halt the service , I can't use my VCC to shop. Now I 'd better withdraw via atm service in my country.

Yes, sell this one if you are holding it.  Generally when the founders of the company are arrested it is a bad sign. 

Agree with other posters that celebrity endorsers take a big reputational risk by backing crypto ICOs. 

There is also a legal risk if they are selling an unlicensed security. 

As it stands now there isn't a reason for a company not to go through the SEC process here.  Companies in this space just need to bite the bullet and hire a lawyer to abide by SEC regulations when doing an ICO since nothing justifies doing 3-5 for securities fraud.  The SEC is clear that these are all securities so it doesn't make any sense not to do this the right way. 

It's a big red flag when companies say they aren't subject to the SEC.  The founders of this company also have had legal trouble in the past.  This is a bad deal for all parties involved but the red flags were waving vigorously with this one and people chose to ignore it. 

from my point of view, this news is very worrying ICO Centra has been successful, hopefully, there is a way out for investors who are stuck in a very expensive or high price. and also This incident made the ICO name slightly worse or shaken.

Right now the token price is below .07 cents. This is a stunning drop. No amount of banning at the Telegram will hide the truth from investors. I'm glad I sold.

i didn't believe it. the ICO project that collected $32mil turned into fake and scam project?
what about the investor that contributed on Centra ICO's ? is it refund back ?

That was a good news, because of the fake ICO's many investors already doubting the project. Hope the government who already acknowledge BTC in their country would be able to move forward and produce legit project for the investors who are willing to invest.

The arrest of the founders really did alot of damage to the market value of the centra token. Since they have a working product, i wonder how it will now turn into. Maybe a company will buy it off just as coincheck was bought by monex

Would love to talk with you about this. I'm researching Centra Tech for an upcoming investigative series.