rip off
Delivery service CryptoEats: The hype that turned out to be a crypto scam
Cryptocurrencies such as Bitcoin, Dogecoin and Ethererum are being traded as the means of payment of the future.
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Paying for the pizza from the delivery service with cryptocurrency, for many it sounded like a dream. They invested in the startup CryptoEats. Now the company is nowhere to be found – and hundreds of thousands of dollars from investors along with it.
With pomp and glory, the startup CryptoEats has recently pushed into the spotlight, selling itself as a pioneer. It wanted to launch the first delivery service where customers can pay with crypto tokens and coins and thus compete with the big players in the industry such as UberEats and Deliveroo. CryptoEats is, it said in a press release from the company – mind you, badly translated – the first step in enabling people to use cryptocurrency as a means of payment for items in the real world.
In the course of about a week, the supposed delivery service was pushed with great publicity and made into hype. Several British influencers let themselves be harnessed to the cart as advertising media. That drew. The coins rolled, you could say. But not for long – and above all, it seems, from it. Because suddenly the company can no longer be found in the whole wide web. Hundreds of thousands of dollars disappeared with the startup. CryptoEats, as reported by several media outlets, was probably nothing more than a smartly raised fake company run by crypto fraudsters. After the great euphoria, there was a hangover mood.
(Not) a delivery service for crypto fans
The venue for the Chose is Great Britain. This is where the big markup of the delivery service should take place and the app should go live. According to “Vice”, the company advertised on the website that customers would be able to choose from hundreds of restaurants. The option of bundling dishes from different restaurants in one order was also announced. An ordered coffee, so CryptoEats promised full-bodied, should be with the customer within five minutes. There was talk of a partnership with the fast food chains McDonald’s and Nando’s, as well as funding of 8 million US dollars from the Series A. As the founder of the whole thing, a Wade Phillips was named, as “NewsBTC” reported, a “reclusive” Blockchain developer.
A big launch party was held at the Reign Club in London last week. Delivery bicycles with the company logo are said to have stood in front of the entrance. The illustrious circle of guests included British reality stars such as Joey Essex and “Love Island” star Belle Hassan. “All these celebrities and influencers came. The liquor flowed freely and everyone had a good time,” said an event coordinator for the “Sun”. “But from what I’ve seen, it looks like this was all a big scam.”
CryptoEats disappeared without a trace
Because just minutes after the token sale started last weekend, CryptoEats disappeared from the scene again. The website can no longer be found, the profiles on Instagram and Telegram deleted. The associated app had not yet been published anyway. In addition, blockchain records are reported to show that Binance Coins worth around half a million US dollars have been transferred from the CryptoEats developer wallet to other wallets.
Anyone who tried to sell their Eat Coins received an error message. E-mails that are sent to the start-up’s official e-mail address have been returned immediately, according to “Vice”. And founder Wade Phillips, who doesn’t seem to exist either. What remains: The coins are probably irrevocably gone and the investors, as is so often the case in crypto fraud cases, lost.
Source: The Sun,Vice, Yahoo Finance, Cryptonews, Elevennews