Bitcoin Forum

The crypto space imploded yesterday as one of the hottest ICOs in the industry was deemed as a cleverly organised scam.
Worst Prank in Crypto History or a Reckless Publicity Stunt? What do you think would become of savedroid after this publicity stunt?

I was not amused yesterday but actually it was the right message to the right people at the right time. They have scores of first time ICO investors in their project, especially in Germany. It is important for those investors to instantly learn not only to use the usual metrics but also your common sense before investing in an ICO. If this had turned out to be a scam, it would have been a very well orchestrated one. Also important for these people to learn, not to put all eggs into one basket, especially in crypto.

There is plenty of people who did not invest in stocks or anything else before. I dont care if they were only drawn by the hype about crypto. No matter how they got here, they have come to the right place. Here is, where an important part of the future will be built. The sooner they really start looking into things, even only use cases or what a blockchain actually is, the better.

Surely was a daring stunt by savedroid, but they might get back stronger and definitely better known from that one. It is getting harder to get noticed with the exploding number of ICOs.

Many suffered in this project, most likely no one else will see their means, they can forget. But from such projects you need to find a more valuable profit, this is an invaluable experience that we get.

I steer clear of most ICO's, most of them are scams.

I think that after such news, the price of coins may fall even more. it is possible for this specifically and made such information.  ;D

It was a very stupid act. This is the worst publicity stunt I've seen, it seems the project team is holding investors for fools. After this story, the price of tokens will fall to the bottom.

I think savedroid suppose to have used a better measure to do it is PR it is a very bad prank and will of course have a negative effect on savedroid. In a telegram group a lot of investors are ready to dump it as soon as savedroid list to be traded.

This was really bad PR for them... I get it they wanted a promotion but instead they just encouraged more hackers to scam people by proving how easy it is... I will avoid their coin now, I am so sad for those who have invested money in this ICO, this CEO is obviously crazy.

I think that by this act, they only drew attention of the regulatory bodies and did not do anything good.

I think it was a well thought scam. they collected very big money. I know some other projects also collected good money and became scam. this is the fate of crypto world. never invest money you can't afford to lose.

scam because not good choose ico project
the first if choose ico must read whitepaper, project , dev team and use campaign manager

This is a very bad thing.The man has made fun of people officially.I guessed it would be like that. We must be careful.

I am surprised that some people are still telling themselves savedroid will be back again. This is a typical examples of the saying that "look before you leap". Proper analysis and all necessary evaluations need to be done on any project of interest, no matter how any listing site might have hyped it. This is a big lesson to many.

I think they are deliberately making trouble, making people afraid, this strategy is arranged very neatly,I think they are very smart in this case.

Yes we must be careful next time on choosing the ico that we joined. Pranks are not good many people and investors hopeful on this project. Imagine they raised $50m so that means a lot of people actually have trust on this project. They should improve their project and follow the roadmap for the users to receive what they invest.

Perhaps the SVD price will weaken and this can happen after the uncomfortable news about SVD. But I hope after this incident Dev will be more careful again, so what you mention does not happen.

50 million american dollars is too many. The man has retired directly.I think you are halal.

I think this is a bad lesson. He just further frightened large institutional investors from the cryptocurrency market

The campaign to me didn't come in the right way, the publicity should something more appropriate than that because I thought that was the end of savedriod and I also  call them scammers in their telegram group.

I don't even know what in the world the CEO was thinking when he was planning to do that idiotic prank. Luckily I am not one of his investor. Even though it was only 'public stunt' (that's how they called it) it still affects the price. Moreover they've done it when the market is starting go bullish, it make SaveDroid left behind other alts.

It seemed like an exit scam that had went wrong.  I am reading that some members were able to locate him and his exact coordinates in Egypt, then in the next day he had to pretend it was all done as a "lesson".  If it was indeed a lesson, it was poorly planned and didn't take into consideration people who might have done drastic things in the hours leading up to the reveal.

I do not understand what the savedroid team does, but now if it's for prank purposes I believe savedroid if it returns to the best position will have a high score, but we should always see the progress of this project.

Savedroid website is now back .
I think it is a bad idea to fool other person knowing that it is all about 50m usd in stake. We dont know if it is a prank or hacked or what. But if it is really a prank then it would damage their own reputation since it is a very huge mistake to play with large amount of money.

We all knew from the beggining that Savedroid was a real scam, in fact, their project was a pure copy/paste of the Peculium product, just check it by yourself and you will see that it is a copy. Savedroid has been a scam since the beggining.

After that failed publicity stunt, I am sure that most of the investors in savedroid community are no longer interested in the project, savedroid plays the emotion of the crowd making them to be afraid investing in ICO's. If their project distributes the token, I am sure that each of them dumps the coin.

This is not good. They make people fool with this prank in crypto history. That's the reason why we cannot trust some ICO's because more are scams. So we must be careful in investing in the project. And because of this the value price of the coin will fall down up to the end..

I did not even know what the trouble was, I took part in the company's bounty and hoped that after all the set goals the people would be given a reward, but it's very insulting, I do not know how to feel myself when I put it into the project itself.

Where did you hear that story, do you gave a source? This seems very far fetched. The funds remained untouched in the escrows wallet (lawyer). Savedroids business partners (also banks) were not concerned. Yesterday I reached out to an advisor (Kilian Thalhamner) and he confirmed it was a PR stunt before it was was officially reveiled.

It does appear to be a publicity stunt although perhaps not a very tasteful one for its reputation sake

Will be interesting to see what effect this has on the market value when it opens as it may not have inspired much investor confidence considering the fragile nature of the industry

It is very sad to have such a thing in the world of crypto currency. investors who will participate in this platform will also prevent such things. hope does not repeat and nothing like that happens again.

I get the point they were trying to get across & it was a very good point and a very effective method to get it across but yea, it was pretty drastic.

You never do pranks with a business, this only tells on how unprofessional they are. They should consider on how their investors are serious with their money and by doing this, I guess they will lose what they have right now.
Too many articles published that gave noise and confusion to their investors and to the crypto community as well.
In Apparent Exit Scam CEO Of German Startup Is ‘Over And Out’ After $50 Mln ICO (http://bitcoinist.com/german-ico-savedroid-exit-scams-50m-founder-posts-selfie-fleeing-country/)
$50 MILLION ICO SAVEDROID SCAM ARTIST POSTS SELFIE WHILE FLEEING COUNTRY  (https://cointelegraph.com/news/in-apparent-exit-scam-ceo-of-german-startup-is-over-and-out-after-50-mln-ico)