If this is indeed true, then I think this news sounds very alarming to the whole crypto-community! I mean, how come a crypto project with a working product suddenly collapsed? Is this a deliberate and concerted act by the core team to hurt their stakeholders? What went wrong? Was this a result of poor management and poor financial planning or an exit scam?
There are so many questions that will be left unanswered and I'm sure there will be legal liabilities on the part of the team! I do hope this will serve as a warning to all of us especially to cyrpto investors - to be more vigilant as much as possible in order to protect our own interests in this industry. Imho.
I think it has something to do with SEC, they have been sued by them and after that, it all went on a downward spiral. So it's not deliberate, but the circumstances that lead to the demise of the product. The article though states the project will still continue despite the negative news.
There is still a legal battle ahead of the team behind, so I'm not sure if bagholders can also sue the project itself. But definitely, crypto investors need to really get out as soon as they hear something like this because it's hard to go against the US SEC.
Yes, I guess nobody would want to associate with a project that has a pending legal battle with SEC and every investor are very well aware of that! I am hinting that this could be likely the reason for sudden nosedive of its token price!
Also, I assume maybe there are legal provisions that will allow investors to sue the project proponents if they feel they have been affected and suffered losses due to deliberate or malicious activity by the team and if ever found guilty, then this could be death sentence to the project itself.
