MartCoin collapses, investors unable to withdraw
MartCoin launched in late 2017 and promised investors ‘a clear and specific plan for Martcoin to reach $290 by the end of Q2-2018′.
Whatever plans the ICO Ponzi scheme had have been tossed, following the official collapse of MartCoin on February 2nd.
As they are wont to do prior to collapsing, MartCoin shut down its servers for an “upgrade” on January 30th.
After completing the upgrade, we will announce the great Martcoin events in February.
The “great Martcoin events” turned out to be the shutting down of their ICO lending Ponzi scheme two days later.
On February 2nd MartCoin advised affiliates its
Lending – Spinning Program will officially cease operation after 9:00 am (UTC) on Feb 02, 2018.
Whether it is a good product, and our unique idea. But at the moment, Lending makes Martcoin’s development hindered.
While lending is condemned and does not guarantee the trust of new investors.
In addition to this, big international trading exchanges are also hesitant.
What MartCoin is likely referring to is the recent US regulatory crackdown on ICO lending Ponzi schemes.
Following MartCoin’s collapse, the first question is obviously “What happened to funds invested?”
We will close the Lending system and refund your investment in USD.
With initial investment and profit from Lending, You can “transfer” through MART at the average price that all customers join the Lending program.
Other features include ETH deposits and withdrawals are still as usual.
Sounds like affiliates will receive what they invested back in USD, however in practice this doesn’t seem to be the case.
Comments from MartCoin affiliates on the company’s Facebook page suggest withdrawals have been disabled for some time.
When will you allow withdrawal martcoin?
ETH withdraw pending from 30 January. Why?
ETH withdraw pending ??????????
Withdraw ether still pending for long time.
Give my money back your not allowing me to withdraw my money but now my money is lost n your website? How COME….. ?
It is been more than 10 days my withdrawals are still pending, i cancelled twice and re submitted the new orders but it still says pending, you guys need to work on that, Why would you start with lending if you wanna hung up on investors…
Hello Admin, i still have problems with my withwadral, that have a OUT OF GAS error on blockchain. I am waiting now 20 days.
What should be obvious to investors is that on January 30th MartCoin’s admins gave themselves two days to squirrel away invested funds.
Also obvious is the fact MartCoin can’t have paid referral commissions and lending ROIs and still refund everyone what they invested.
People are going to lose out, and it won’t be the MartCoin admins. That’s how a Ponzi scheme works.