Co-founders of Centra Tech arrested

[cryptobobo]

Centra Tech, a widely advertised ICO had it's co-founder arrested after they were trying to escape the country with collected funds.

They were successful in raising 32 millions by claiming to offer a variety of financial products, including a debit card backed by Visa and MasterCard, with which users could instantly convert cryptocurrencies into US dollars and other legal tender.

Floyd Mayweather had previously endorsed the ICO, probably a paid job.

Well if these people did something wrong with the investors they are probably deserve what they have! floyd mayweather is just a dickhead who wants to earn more money from anything,this is all about the money that is why floyd have endorsed it to the public,floyd surely has a lot of centra investment that is why he didnt bother to promote a scam ICO.

[singpolyma]

Oh my God, only to think anyone can just take all the collected stenstva and slip. ICO is still too risky to invest. I prefer buying coins from exchanges, it's more reliable.

[grchina]

This is a good sign because people runing icos need to realise that the same thing can happen to them if they try to scam people for their money.Just one step further in regulating crypto and necessary thing for a new crypto bull run

[cryptomorphines]

This is odd,because its ICO has achieved success  so it only means these people really didnt used their real identity in the ICO phase they must be changed their mind to scam people that is why they wanted to legalize its use when the ICO has ended,but unluckly SEC is carefully watching each campaigns or ICOs in the U.S premises that is why they got caught badly.

[carlisle1]

It's mind boggling that even in today's world where the long arm of the law is longer than it's ever been, people are still trying to flee and commit fraudulent activity, all in the name of a few million dollars.  I'm glad this happened.  Hopefully it will deter future violators.  The more get arrested the better.

thats why this person called scammers because they cant live doing fair instead life for them must be easier to have ,and no hardship this people dont have to be trusted and must put in jail ,so they will be great example for those candidates for scamming that this will happen to them if they dont stop monkey business

[cryptodrei]

I pitty those people who bought from its ICO and keeping it until now,probably they have lose a lot of money and the opportunity to secure their investments,this is the reason why centra has been dumping hard today because those scammers got caught,SEC is being more and more agressive because most of these ICOs are too scared about the regulation!

[xarly1]

Yes I heard this news , very sad ,the coin fell off . many people believed in this project ,but now it has lost the hope of its investors . with great care you need to choose projects

[Omnia Vanitas]

With so many scammers who have jumped into the crypto world, this one will not be the last to be arrested.
Thank goodness that we start to do a little cleaning.

[mybtcasset]

US SEC is on this website i suspect did someone gave compliant to SEC or else they came across Centra fund but US govt strict supervision is going on ICOS globally

[mangkanor]

This is just alarming because if you are an investors back then you could lose a lot of money now as centra is dumping its price too hard because of the news that are spreading too fast,get out while you still can or else you wont get recovered what you ahve invested to.These people if proven guilty deserves what they will receive,from be cheating in ICO.

[KryptoKai]

I'm sure they won't be the last to get arrested, these ICOs had better start delivering on their promises otherwise the FBI will come knocking on their door. Too many are promoting with fake claims as it is too easy to get away with it. This is the start of a cleaner and fairer ICO system

[lucemferrum01]

I think it is good news, so scamers will know that they could be put in jails. Hope in the future there will be less scam projects.

True, I wish there would be more and more security breakthrough in the cryptocurrency world that would make us honest investors feel safer and those scammers wary and unable to conduct their thievery due to much stricter law to protect not just cryptocurrency users but the whole cryptosystem and its credibility.

[Maestro75]

Floyd Mayweather had previously endorsed the ICO, probably a paid job.

Mayweather should be arrested too for aiding and abetting crime.

[terible.hunter]

Yes, I also read this news, I think that they will decide everything and everything will be fine with them, because they will start sharing with the SEC received or collected funds and all charges will be immediately removed.

[MattLawson48]

Centra Tech, a widely advertised ICO had it's co-founder arrested after they were trying to escape the country with collected funds.

They were successful in raising 32 millions by claiming to offer a variety of financial products, including a debit card backed by Visa and MasterCard, with which users could instantly convert cryptocurrencies into US dollars and other legal tender.

Floyd Mayweather had previously endorsed the ICO, probably a paid job.

I hate bad news in the crypto community. It is bound to happen with so many ICOs out there. This one is pretty awful though. Don't give up on the entire community as a whole because of some bad apples.

[mariangpalad]

This is bad for those who are holding centra coin,because the price has been dumped from time to time when this news has come out,surely people know what will happen next to the coin,that is why we need to know each other's coin so that you wont be surprised when the authorities are going to arrest these people behind these scam ICOs!

[cryptoheroin]

I pitty those people who supported this project from its ICO and holding it until today,it seems that the value has exponentially decereased as soon as the news has been in public,that is why we be aware with all the things with every coin we are holding so that we wont lose a lot of money if anything like this happens,the project was intended to be a scam back then but the founders decided not to scam people as they are try to be more legit now!

[therhslv]

Centra Tech, a widely advertised ICO had it's co-founder arrested after they were trying to escape the country with collected funds.

They were successful in raising 32 millions by claiming to offer a variety of financial products, including a debit card backed by Visa and MasterCard, with which users could instantly convert cryptocurrencies into US dollars and other legal tender.

Floyd Mayweather had previously endorsed the ICO, probably a paid job.

Thats the reason if you see some star , celebrity advertising ICO project then its a red flag . Ofcourse they get paid for puting his faces all over ICO project . Im really waiting for regulations to regulate ICO's more closely and  close half of the projects out there .

[KingScorpio]

Centra Tech, a widely advertised ICO had it's co-founder arrested after they were trying to escape the country with collected funds.

They were successful in raising 32 millions by claiming to offer a variety of financial products, including a debit card backed by Visa and MasterCard, with which users could instantly convert cryptocurrencies into US dollars and other legal tender.

Floyd Mayweather had previously endorsed the ICO, probably a paid job.

thats ridiculous

but many gimmicks do that nowadays,

people that take cryptocapitalism serious and have to skill to do that are rare.

lots of short term profit oriented people, but in the end their current assumption that the us dollar stays stable will fall.

sometimes i feel like a lone wolf in this industry.

[usd.dev]

This project had too many problems in 2017, a lot of promises and very little actual work, mostly the founder simply withdrew money and waited for the opportunity to withdraw money from the project, but he was arrested earlier. Sorry investors, they were waiting for good news.