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/biz/ - Business & Finance

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12717670 No.12717670 [Reply] [Original]

Redpill me on exit scams

>> No.12717691

>>12717670
Most of the time you will not get closure. The "weekly updates" just become "monthly updates", then "updates when we have news" then maybe you get a rebrand and the project gets "turned over to the community" and that's basically it. you never find out what happened to their fancy office.

>> No.12717697

chainlink is one for starters

>> No.12717723

>>12717670
>>12717691

Seems like it's rarely a clean break.

PRL was a true exit scam, and BitConnect was hilariously public and obvious. Then you have slow, depressing exit scams like BNTY and ODN.

>> No.12717976

>>12717691
This is Constellation Labs DAG in a nutshell. First refused to stamp out the FUD. Then straight up lying about their financial situation. Now announced Friday they will not be active with their community any longer because they want to "focus on Enterprise customers". So full of shit, so obvious they are going under. Next announcement the community will take over and the project goes to zero.