Was the Matchpool ICO a great scam?
I do not think that they stole the funds. They were hedging against the possible fall in the price of Ether. They have raised 125 081 ETH at the current price of 44 USD/ETH that makes 5.5M USD. If the price of Ether would fall to 35 USD/ETH they would have only 4.3M USD which is 1.2M USD less. I think they know what they are doing, but failed with their communication. I think they should have been more transparent about this before transferring the funds anywhere.
A project called “Matchpool” just raised $5.7M in 48 hours. A day later, co-founder departs the project with the following message pic.twitter.com/y1O8Lxsy0Z
— Nick Tomaino (@NTmoney) April 5, 2017
A message from Matchpool dev team:
Hello Matchpoolers,
This whole situation took place in the late night at our time zone and so we were not able to respond immediately.
I read many people here are referring their investment as lost and I just can’t understand this. Yes, this is not the way we intended things will go, Yes Philip did a great job in slandering our project credibility, but the fact is that nothing has changed. We are recruiting developers and engineers as we speak. From the begining the app was spoused to be created by a much wider team and not solely by Philip which I know personally failed to create an ICO contract that meets all expectations and demands this kind of contract needs to have, and forced us to work extra nights with Parity to achieve it.
As this just blow up yesterday’s night, many things are yet to be understood, we ask you for your patience and promise to keep you guys up to date with all developments.As I said, for the rest of us nothing has changed. We are working in all force to bring Matchpool platform alive and to create what was described to you during the ICO.
Final note, As I said before we are releasing the bounty spreadsheets one at a time after final reviews. please understand we have a lot on our plats right now, and the bounty is just one of the things we are dealing with now. We also working on the guide about how to redeem your private keys into MyEtherWallet so you will receive it shortly.
Thanks for your understanding, like I said during this whole campaign our most powerful asset is our community, and we are only strong as you are going to be, we realy believe that we can achieve something amazing here even in the current stormy weather
