Bitcoin Forum

So,  this news flying around CTR token and its founder being accused of fraud,  what really went wrong because the coin was doing so well early this year.  If this can happen to CTR,  what effect can this have on people's opinion about making long term investment?

And it was listed on Binance who will be next Verge ? Tron ?

It won't change a thing, I can tell you that and I can even bet my money on my words I say here. Why?? Do you know how many scam ICOs were there in the past running with few million dollar worth cryptocurrency in their pockets? Some of these bad people were ought but some simply walked away with it, people will never learn. They want fast money, fast game and this is where they screw themselves. You can try to educate them, but question is how many of them will truly listen to you at the end of the day.

You open a konimarketkap and see, there are 1600 tokens and coins there, and you think each of them is needed and in demand? I think that about 95 percent is an absolute rubbish, which will disappear in the next 1-2 years. Center from the very beginning caused a lot of questions, but when the course of the etherium grew several times people did not care where to carry their money. Here is the result. In the future, think and read when you want someone to give their money!

Feeling a bit like the time of Mentougou, when a super exchange closed down, the project was very well-publicized. A lot of people were involved, and the price was much higher after ico. I did not expect that so many exchanges did not find any problems. The result was still The U.S. government discovered

Crypto assets or markets are highly speculative. The coin can be doing very well simply due to hype but has no fundamentals to support it. There are too many people putting money in crypto hoping to become millionaire overnight.
Ultimately the price cannot be justified anymore when it is simply a scam or fraud.

Yes, this coin is now a shit coin and project is a confirmed scam. SEC has busted this fraud and its co-founders have been officially charged with violating anti-fraud and registration provisions of federal securities laws. Investors might get their money back, if both of these co-founders are proven guilty. This project was sponsored by American boxer Floyd Mayweather and was able to gather a whopping $32 million.

Projects like these tell us that how naive we (crypto people in general) as investors are. Just because a celebrity endorsed a project and words like Visa and Mastercard were used, people invested their money. No one even bothered to confirm with Visa and Mastercard whether they are really partnering with Centra or not. Maybe some were smart enough to recognize this as a scam, but still invested in anticipation of big pumps.

Govts. might never be able to control or ban cryptocurrecies, but things like pump & dump, general greed and naivety of majority of crypto citizens do pose a serious threat to the progress of crypto world.

Thats why you only invest in coins with a working product and a dev team who has development work to show. With the amount of people investing money into shitcoins just based on the hype is crazy. What they don't realize is that this hype is false and created by shills who are paid for by the devs.

Every coin promoted by "celebrities" is potential shitcoin and scam ;D ;D ;D

that was a really crazy candle after the news said that the team has been arested by SEC... It is a real doom candle and I think a lot of people are really fucked up about the project and the team..

Very well said. Thank you for the heads up on the scam. Anything that is endorsed by big celebrities I am always wary of. While I am sad for the people who lost money, the damage it does to the overall crypto space is really the worst part. The more people that are scammed, the slower the space will progress as a whole. This is why I welcome regulations to the space, we need to weed out the bad apples. The more regulations there are, the more the casual investor will feel safe to invest, and rightly so.

ctr is a scam since the begining of the project i have been reading strange news about it that i even pool oust as an investor when i cant cope with it again,but this SEC issue now make the thing more worst for them,let hope SEC show them some mercy so that they face the project and all there investor can have something to laugh of.

Working product is key without question. I've seen tokens with average looking teams do well.

Maybe you mention McAfee lol  ;D It's not exactly for all, but i can see on some projects which focus in marketing are really shitcoin  :D

I'm glad that i sold CTR in January when it was about 2 USD, only because i heard that Centra has some issues with bank cards, so they haven't real opportunity to issue cards, i thought that this company is a scam.

Yes I like your point.  Does that mean that we need regulation to a little extent in the crypto space?

Currently the problem of fraud occurs very low price to $ 0.06 and currently the price has returned $ 0.17 and the rate is up 72% actually what happens if the coins are really fraud, despite confirmation that the owner has cheated but if their team is not guilty, will the project continue to run by replacing the Project owner?

Oh... I remember this coins. I didn't get any coins for signature campaign there. They've scammed a lot of bounty participants. So no wonder why it is real scam.

Is it a scam now?

Alot of projects are scam. People just want to create a project and collect money from ICO

This is true, all the coins that advertised the celebrities sooner or later collapsed. I saw Floyd Mayweather advertise this coin and I was very surprised when I saw how much the coin grew in price, and yesterday when I read the news I realized that you can not trust the celebrities!

Your action is what they call to be having foresight  8)

i almost buy them, i have planned from last month. which i think they have potential. but i'm luck that news comes before i buy it. :D

why so this way? will the CTR be completely destroyed, I have bought a week ago for a long-term investment but this bad news comes to my end.

Check your portfolio value and see if the loss is bearable.  This is because if binance finally delist the coin or it gets removed from cmc,  then that's the end

It isnt a fraud because that is real,these founders have used fake identities when the ICO has been running around,and then they have decided to use their real identities when the centra has been growing rapidly and it seems that they have decided to be legitimate project from the past few months of their existent,that is why the SEC has decided to check whats up with these people and they have found some fradulent activity from the ICO days! that is why they are arested and floyd should be arested to because he is promoting it !

I thought binance are still investigating if the said accusations are true and should they be found guilty for this the risk being delisted which will be a big blow because all coins that have so much influence are listed on this exchange.
Still waiting to see how this will be handled.

Let's keep our fingers crossed then.  Hopefully this goes well for all parties involved.  What the crypto space doesn't need now is another scandal

McAfee  lol hahaha
I agree with you. completely shitcoin. Only ads when receiving money lol.

the answer is clearly enough now?
100%
it might not be like this if the leader not been catched  :-X
there were so much people bought it with such a big money, lots of people are unlucky.

We cannot finally say that CTR is a scam coin but we should be pay attention closely especially if you are holding this coin as major exchagers like binance and kucoin were de-list CTR Token, which will cause significant reduction in its liquidity.

This is worth monitoring especially if you are holding this coin.

Is it going to be live or delisted on hitbitc?? Does anybody know?

The CTR now appears to have been to zero.
Because no exchange supports this token, and the team has been arrested.