Crypto Scheme Freeway Freezes $100m from Customers

@FatManTerra writing on Twitter on October 22:

Molly White at Web3 is Going Just Great writing just one day later:

The project announced to its users that due to “unprecedented volatility in Foreign Exchange and Cryptocurrency markets in recent times”, they would be pausing their Supercharger program. The project reportedly halted withdrawals on more than $100 million worth of assets.

Worryingly, the company also removed all mentions of its team from their website, and reportedly removed an attestation to the company’s financial backing as well.

Didn’t take months. As soon as their customers were alerted, they immediately froze withdrawals.

And while wiping the names of the team members from the website would be shocking for any legitimate business, it’s a pretty standard practice with cryptocurrency companies about to steal all their customers’ money.

Finally, if you look at what Freeway was promising, it’s just ludicrous. They were promising up to 43% returns annually. That screams scam to anyone with basic knowledge of how money works, and yet enough people fell for it that there was $100 million invested.

Friends don’t let friends invest in crypto.

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