The founder of Clucoin just quit after admitting to have gambled investors fund

[bitbollo]

I am not an expert, but in such a case, "public admin and public confession", are there no grounds/options for requesting compensation from the investors/hodlers/figures perhaps involved in the various stages of financing?
Its really frustrating see this impunity related crypto projects scam

[Psynthax]

it's silly how the investors money got wasted by the devs just for gambling, now everyone invested in his coin gonna bear the aftermath of his gambling addiction that results in losing money.
I think this is the disadvantage with investing in some trash new coins, you just don't know what these devs are gonna do with the raised money because sometimes they'd just did the most silliest thing ever.

[carlfebz2]

Link to his post
http://www.twitlonger.com/show/n_1ss7f8q

He got addicted to gambling and lost even the investors money to gambling. He plans to soon announce his next moves related to crypto projects he was involved with including Clucoin.

If you have not heard about the coin, he is coinmarketcap link https://coinmarketcap.com/currencies/clucoin/

Now I do not know how many people invested in this project but whoever showed trust in it is now cheated.

Lesson here is not to trust every other new altcoin. Only invest in solid projects.

So this becomes the new trend on where CEO's, Devs, owners are involved with on which telling out that they had used funds on gambling? We dont know if this one could be verified
out which those are really been used or simply been an alibi but truly they are hiding those money in secret and making out some reasoning to cover it out?

It is really just sad for these type or kind of news that do show up in the market which it turns out that they are going along on what SBF did.
So this do becomes obviously the trend as of this moment. lol

[krishnaverma]

There were reports that SBF did gamble too the money of his investors and look at what happen to his FTX.

Can you link to source for this news ?

[Silberman]

Link to his post
http://www.twitlonger.com/show/n_1ss7f8q

He got addicted to gambling and lost even the investors money to gambling. He plans to soon announce his next moves related to crypto projects he was involved with including Clucoin.

If you have not heard about the coin, he is coinmarketcap link https://coinmarketcap.com/currencies/clucoin/

Now I do not know how many people invested in this project but whoever showed trust in it is now cheated.

Lesson here is not to trust every other new altcoin. Only invest in solid projects.

So this becomes the new trend on where CEO's, Devs, owners are involved with on which telling out that they had used funds on gambling? We dont know if this one could be verified
out which those are really been used or simply been an alibi but truly they are hiding those money in secret and making out some reasoning to cover it out?

It is really just sad for these type or kind of news that do show up in the market which it turns out that they are going along on what SBF did.
So this do becomes obviously the trend as of this moment. lol

It is possible this is the new excuse they are going to use to try to cover their tracks, in the past they used the excuse they were hacked to steal the money of their investors, now they are using the excuse that they gambled that money away as it seems more believable and it leaves less tracks for investors to follow so they can try to recover their money, so it would not surprise me if we found out about more cases like this one on the future.

[serjent05]

What a d*ck head.

He losing everyone and development money because of his gambling addiction and he said are gonna fixed something on his next move? Did he still have some brain or somethings. The one who are problem is him, and do people are gonna to believe in him again? He should not being a founder, because of his d*ck head gambling addiction using other money.

At least the guy is very sorry, unlike someone who embezzled Billions of dollars of customers' funds and had the audacity to plead not guilty when it is too obvious that he did mismanage and even gamble the funds of his company clients.  Regardless, I also think that the incident should not end on a sorry note, the developer must take responsibility for his action.  It is an obvious fraud because he uses the money that is supposed to be for project development in his gambling activities. 

It is possible this is the new excuse they are going to use to try to cover their tracks, in the past they used the excuse they were hacked to steal the money of their investors, now they are using the excuse that they gambled that money away as it seems more believable and it leaves less tracks for investors to follow so they can try to recover their money, so it would not surprise me if we found out about more cases like this one on the future.

Gambling the fund and saying it losses isn't an excuse.  It is actually evidence of embezzling investors' funds and is subject to a criminal case.

[Baofeng]

There were reports that SBF did gamble too the money of his investors and look at what happen to his FTX.

Can you link to source for this news ?

There is a thread in the gambling discussion about this one: BANKMAN-FRIED PANIC GAMBLES TO REPAY DEBT.

So there is similarity between this two founder of CEO? And I do agree that this is another issue now in crypto market, before it was just pure scam from developers and founders who suddenly disappear with investors money. Now they truly evolved from one scam to another, that is to gambler the money that the investors trusted them and hope that they will win in the end. Unfortunately, in gambling there is huge risk that your of our own money will be swept like that and we don't know what happen as our decision is clouded. Sorry for those investors of this project and this is another reality that we investors need to face. And hopefully, justice will be served against this kind of leaders.

[autumnleaf]

This is one of the many reasons I don't fully back or invest heavily in new cryptocurrency projects; I do it to avoid situations like this one, which can be really painful if you're an investor and get taken advantage of. In order to avoid losing money, I only invest in Bitcoin.