Review on ATBCoin by gregori cordova
A high-level scam with a project that claimed to offer the world's most powerful blockchain
Another project that has caused a lot of controversy in its initial launch offering phase was ATBcoin, and not exactly for good reason. This project promised the implementation of a new technology whose purpose was to facilitate transactions quickly and at a very low cost, through a revolutionary Blockchain. At the time, there was a lot of optimism on the part of analysts who saw a project with great potential. The great interest in this project began, because they offered to become a fast, secure and reliable worldwide payment system while preserving anonymity. In its first days of initial offering, the project managed to raise more than 15 million dollars and its participation in the IV International Blockchain Summit-2017 brought many more investors.
ATB's ambitious plans on a global scale were the reason for their great success in their ICO phase and at the end of this, in November 2017 when they launched the project, it was a total disappointment, since they were not able to offer all the technological feats that they had promised, which caused their initial value of $ 1 for each ATB coin to drop by 85% in a couple of months. this caused a lot of outrage globally and there was a huge class action lawsuit against the company
The lawsuit was filed, because in addition to all the collective disappointment, the ATBcoin team had not filed any ICO registration with the US SEC, which would lead to many legal problems for the company.
Pros
- none
Cons
- They were accused of inflating the value of this cryptocurrency on several occasions, since it went from being worth $ 1 in June 2017 to being worth $ 1.50 and then 2 months later it doubled its price, all this during the ICO phase
- The directors of this project had not even registered the ICO with the US SEC.
- When the platform was launched at the end of 2017 it was a total failure, as they sold the project as a more powerful crypto network ever created and users noticed that it was a total disappointment and were sued for this.
- The tokens were totally inactive in the market due to their price falling exaggeratedly
- They were a fake cryptocurrency, since they were nothing more than securities
- It is not yet known how many people invested or how much money was raised, but the complaint estimated that it could be between 20 to 24 million dollars
- It is already considered in addition to a scam, a dead project, because all its social networks are inactive
