People should really be concerned about their investment to these kind of project, they don't even know where the gold is stored neither the gold is real it's basically investing for nothing. In this case, ordinary stablecoin with assets that are audited is far a lot better than this kind of investment.
You do have a really good point here, but I still think it depends on the company that you’re investing in and the people they are working with. This is a really bad news indeed, and I saw another news that a corrupt Chinese leader has been caught same time that all these things were happening and was said to have stored lots of gold in his house. And people are now suspecting that he’s part of this scam and must be the one that might have done this. Someone has already posted this topic and I read it yesterday but didn’t have the time to comment.
If there is at least one good and real gold backed coin or token is existing then it might have have gained popularity and then might be trying to be a main stream of adoption by this time. Because, it got all the reasons to keep attracting investor and users unlike most other speculative assets we are having right now. So, we do not need to rush to adopt any gold backed asset right now but must verify them before investing with them.
although that might be true that there are some company that probably "honest" but not gonna risk it for that.
