Habiba Aziz
Contributor
In January 2018 the Envion ICO entered the list of ten biggest ICOs and even crowdfunding campaigns in history, raising $100 million.
Aimed at disrupting and democratizing the cryptocurrency mining industry with state-of-the-art Mobile Mining Units and an expert team, the Swiss-run project seemed destined for great things, reportedly closing deals with IBM and the leader of Dubai.
Obviously, things have not gone according to plan. The team claim that the deals fell through, and the goals outlined to investors are nowhere close to being met, nor is it clear if they ever will be.
The company has now become embroiled in a massive scandal with the founders and CEO turning on each other, accusing each other of fraud. The company, which should have been paying dividends to investors by now, is deadlocked with investors crying out for their money back on social media.”
“We are ready to build the product. Containers should be rolling off the assembly line and we should be installing mining units. The plan was to pay back dividends to our investors by now. We can’t do that because we are blocked by Mr. Woestmann. It’s not clear that he is making any positive contribution to Envion’s business,” said Luckow.
The New York Times spoke to 21-year-old Jessica Smith who invested $28,000 in Envion, almost all the money she had made after two years trading cryptocurrency. Smith is now looking for new work, saying this “has been very painful.”
https://www.ccn.com/the-envion-ico-scandal-both-sides-of-the-story/
Aimed at disrupting and democratizing the cryptocurrency mining industry with state-of-the-art Mobile Mining Units and an expert team, the Swiss-run project seemed destined for great things, reportedly closing deals with IBM and the leader of Dubai.
Obviously, things have not gone according to plan. The team claim that the deals fell through, and the goals outlined to investors are nowhere close to being met, nor is it clear if they ever will be.
The company has now become embroiled in a massive scandal with the founders and CEO turning on each other, accusing each other of fraud. The company, which should have been paying dividends to investors by now, is deadlocked with investors crying out for their money back on social media.”
“We are ready to build the product. Containers should be rolling off the assembly line and we should be installing mining units. The plan was to pay back dividends to our investors by now. We can’t do that because we are blocked by Mr. Woestmann. It’s not clear that he is making any positive contribution to Envion’s business,” said Luckow.
The New York Times spoke to 21-year-old Jessica Smith who invested $28,000 in Envion, almost all the money she had made after two years trading cryptocurrency. Smith is now looking for new work, saying this “has been very painful.”
https://www.ccn.com/the-envion-ico-scandal-both-sides-of-the-story/
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thank you