Sorry to hear about your bad experience with investing in ICO's.
ICO's are not all scams and this one may or may not have been one, but they are all extremely risky. Most projects do not make it. I think the number was over 90% failure rate. Your only hope is finding evidence that they did something wrong and hope that they are somehow able to reimburse you. But if they went bankrupt then it is most likely that that money is gone forever.
Topic: I need help/advice on how to efficiently recover money invested in an ICO - page 2. (Read 393 times)
March 21, 2024, 09:15:56 AM
March 21, 2024, 08:46:39 AM
I am currently researching my options and trying to figure out in which country I should be looking for legal representation.
There are enough clues to suggest it was an exist scam. It will take hours for somebody new to absorb all the information related to the case.
The main thing is there are assets (properties) that are still standing and being used to generate income. I know the exact buildings, locations, etc. They are listed on Booking.com and on the developer website too. I have copies of the deeds/titles of said properties.
If you have information that suggests that it was an exit scam then it is of great value. I do not know what kind of information you have but when you do use them to prove that it is an exit scam then remain anonymous as these start-ups are not created by a team but by a consortium of gangsters. It is how they operate wherein they onboard newbies who are looking for jobs and then they commit their plan of action. Thailand and Burma are famous with such gangs and they are known locations for crimes like these.
This happened in my country when a piece of news came out as how Indians were held captive to do digital scams. This issue was reported and that is the reason we know it but it is quite evident now that any project that is dealing in such a location should be ignored.
March 21, 2024, 08:34:07 AM
There are two things that I can see in this issue and the first one is that they were paying you rent. The amount and for how many days/weeks/months you have received it is not mentioned in your topic. The problem started happening when COVID hit and there was a lockdown, which is considered a natural global disaster as it happened globally. Now, my question to you is how would you like to challenge a global disaster that did affect business or organizations. Some countries that are tourist destinations are still not able to get out of the problem they faced 5 years back due to COVID.
The next problem is that under liquidation, you cannot ask for money that is already starved. This is not a case where you can spend thousands of your money to get that amount which I feel is practically lost. You can talk to a lawyer and try to find a loophole in the law that can only help you in getting your amount back. I am certain that you have already done that and that is why you have come up with this topic to find out if anyone here has gone through the same situation. Which might help you in finding a solution to your problem.
The next problem is that under liquidation, you cannot ask for money that is already starved. This is not a case where you can spend thousands of your money to get that amount which I feel is practically lost. You can talk to a lawyer and try to find a loophole in the law that can only help you in getting your amount back. I am certain that you have already done that and that is why you have come up with this topic to find out if anyone here has gone through the same situation. Which might help you in finding a solution to your problem.
I am currently researching my options and trying to figure out in which country I should be looking for legal representation.
There are enough clues to suggest it was an exist scam. It will take hours for somebody new to absorb all the information related to the case.
The main thing is there are assets (properties) that are still standing and being used to generate income. I know the exact buildings, locations, etc. They are listed on Booking.com and on the developer website too. I have copies of the deeds/titles of said properties.
March 21, 2024, 08:29:23 AM
If the company has gone into liquidation, it is highly likely that the owners of this company has no funds or had hidden it somewhere safe. So legally you cannot do anything unless the court decides to sell their properties and pay out the money to the investors. That's how it ideally happens.
If you know the registered address of this company, you can file a lawsuit against them and put up your demand in a legal way. It is better if you can speak to a qualified lawyer.
If you know the registered address of this company, you can file a lawsuit against them and put up your demand in a legal way. It is better if you can speak to a qualified lawyer.
That is the idea. I need to find a legal firm to have a consultation with and see if it's even possible.
Supposedly they purchased these properties, so there are still assets to recover.
March 21, 2024, 08:09:37 AM
There are two things that I can see in this issue and the first one is that they were paying you rent. The amount and for how many days/weeks/months you have received it is not mentioned in your topic. The problem started happening when COVID hit and there was a lockdown, which is considered a natural global disaster as it happened globally. Now, my question to you is how would you like to challenge a global disaster that did affect business or organizations. Some countries that are tourist destinations are still not able to get out of the problem they faced 5 years back due to COVID.
The next problem is that under liquidation, you cannot ask for money that is already starved. This is not a case where you can spend thousands of your money to get that amount which I feel is practically lost. You can talk to a lawyer and try to find a loophole in the law that can only help you in getting your amount back. I am certain that you have already done that and that is why you have come up with this topic to find out if anyone here has gone through the same situation. Which might help you in finding a solution to your problem.
The next problem is that under liquidation, you cannot ask for money that is already starved. This is not a case where you can spend thousands of your money to get that amount which I feel is practically lost. You can talk to a lawyer and try to find a loophole in the law that can only help you in getting your amount back. I am certain that you have already done that and that is why you have come up with this topic to find out if anyone here has gone through the same situation. Which might help you in finding a solution to your problem.
March 21, 2024, 07:09:15 AM
If the company has gone into liquidation, it is highly likely that the owners of this company has no funds or had hidden it somewhere safe. So legally you cannot do anything unless the court decides to sell their properties and pay out the money to the investors. That's how it ideally happens.
If you know the registered address of this company, you can file a lawsuit against them and put up your demand in a legal way. It is better if you can speak to a qualified lawyer.
If you know the registered address of this company, you can file a lawsuit against them and put up your demand in a legal way. It is better if you can speak to a qualified lawyer.
March 21, 2024, 04:40:32 AM
So back in 2018 I invested 720ETH in what looked like a very promising ICO - https://bitcointalksearch.org/topic/ann-real-estate-blockchain-crowdfunding-technology-2064991
The team behind it looked very professional, the White paper well written and overall, the idea very promising, so I decided to invest.
Basically the idea was to purchase properties with the invested money and then receive rent based on your invested amount.
From memory around 34k ETH were invested in the project, which were originally sold at $800 each, but because they couldn’t find a bank to hold it they had to buy back ETH and again sell it at $300 at a later date.
Then a number of properties were purchased in Thailand and I started receiving rent until COVID hit us.
There are too many details to mention as to what happened next, but as it stands now the company went in liquidation, which I very strongly believe was a premeditated and planned exit scam.
I have a copy of their entire website + all documents related to the purchase of the properties (deeds, lease agreements).
I am currently preparing a plan of action and any advice is greatly appreciated as I am willing to spend thousands of dollars to try and recover some of my investment.
To return the money, the company must have it. If the company goes bankrupt because of Covid, then your strong beliefs will not help you. You need to prove the fact of fraud in order to claim losses from the company's managers, but this will be very difficult and impossible to prove in court.The team behind it looked very professional, the White paper well written and overall, the idea very promising, so I decided to invest.
Basically the idea was to purchase properties with the invested money and then receive rent based on your invested amount.
From memory around 34k ETH were invested in the project, which were originally sold at $800 each, but because they couldn’t find a bank to hold it they had to buy back ETH and again sell it at $300 at a later date.
Then a number of properties were purchased in Thailand and I started receiving rent until COVID hit us.
There are too many details to mention as to what happened next, but as it stands now the company went in liquidation, which I very strongly believe was a premeditated and planned exit scam.
I have a copy of their entire website + all documents related to the purchase of the properties (deeds, lease agreements).
I am currently preparing a plan of action and any advice is greatly appreciated as I am willing to spend thousands of dollars to try and recover some of my investment.
I don’t know the legislation of your country, but in my country (Russia) for a very long time there has been a register of companies that are subject to bankruptcy or closure. Before closing, a company must publish a statement of its intention to cease operations and remain on the register for a period of time so that creditors can suspend the procedure if they have evidence of fraud or evidence that management has driven the company into bankruptcy.
If there are no complaints, after a certain period the company will be closed; if there are complaints, then this procedure is suspended.
March 20, 2024, 04:12:23 PM
So back in 2018 I invested 720ETH in what looked like a very promising ICO - https://bitcointalksearch.org/topic/ann-real-estate-blockchain-crowdfunding-technology-2064991
The team behind it looked very professional, the White paper well written and overall, the idea very promising, so I decided to invest.
Basically the idea was to purchase properties with the invested money and then receive rent based on your invested amount.
From memory around 34k ETH were invested in the project, which were originally sold at $800 each, but because they couldn’t find a bank to hold it they had to buy back ETH and again sell it at $300 at a later date.
Then a number of properties were purchased in Thailand and I started receiving rent until COVID hit us.
There are too many details to mention as to what happened next, but as it stands now the company went in liquidation, which I very strongly believe was a premeditated and planned exit scam.
I have a copy of their entire website + all documents related to the purchase of the properties (deeds, lease agreements).
I am currently preparing a plan of action and any advice is greatly appreciated as I am willing to spend thousands of dollars to try and recover some of my investment.
The team behind it looked very professional, the White paper well written and overall, the idea very promising, so I decided to invest.
Basically the idea was to purchase properties with the invested money and then receive rent based on your invested amount.
From memory around 34k ETH were invested in the project, which were originally sold at $800 each, but because they couldn’t find a bank to hold it they had to buy back ETH and again sell it at $300 at a later date.
Then a number of properties were purchased in Thailand and I started receiving rent until COVID hit us.
There are too many details to mention as to what happened next, but as it stands now the company went in liquidation, which I very strongly believe was a premeditated and planned exit scam.
I have a copy of their entire website + all documents related to the purchase of the properties (deeds, lease agreements).
I am currently preparing a plan of action and any advice is greatly appreciated as I am willing to spend thousands of dollars to try and recover some of my investment.
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