Need advice, I scammed people

N

nonotoday

Newbie
Joined
Aug 17, 2018
Messages
0
Reaction score
1
Hello all,

So straigh to the point.
I started a lending platform ICO together with a friend.

We knew this was a hype so we developed a platform, erc20 token etc.. etc..
We putted money in promoters and then the ICO started.

Since we had 0 experience running a platform everything went to shit.

The amount we raised comes close to $40.000
Now allot of that is gone to marketing, developers etc....

Now the total hype is gone and there is no way in earth we can continue with the platform, almost no budget left, hype gone etc...

Now basically, did we scam all those investors? Or is it on both hands since they risked money in a high risk lending platform.
I feel fucking bad about knowing people invested in my project and it did not work out.

I dont know what to do, I dont have all the funds to refund investors.
I dont know what to fucking do.
Just end the platform, remove the website and leave people with a loss.

...fuck

Advise please.

And YES I do know we should never haver started this if we were not able to run it, please do not explain, we understand.
 
Advertise on BHW
I think your project lacked planning.
Regarding the money you owe to the investors, 40k is a f**king huge amount to refund or even run away with.
I have been in a position like this. I sent a written apology to the lenders and promised to pay them back. As of now, I have returned the money to 2 guys, but still 4 others remain. The money I borrowed in total is no way equal or even near 40k but I must tell you this, not returning anything and vanishing in thin air is not going to be a wise solution neither morally or ethically.
I am not a legal expert so can't advise what could be the legal implications but this is what I think. Just a random guy's opinion ya know!
 
Now basically, did we scam all those investors? - Only you know if you scammed anyone. If you set out to intentionally defraud people, then yes you did and deserve your legs breaking.


Or is it on both hands since they risked money in a high risk lending platform.
I feel fucking bad about knowing people invested in my project and it did not work out. - If this was a legit venture that failed and you did all you could to rectify things, then they lost their money as investors do when a business goes to the wall.
 
You can either pussy out now and be labeled a failure or think of something that can reverse it. Just make something that's very similar, although a bit easier for you and rebrand it.
 
Yes you scammed them.
Just shut everything down and tell them you fucked up.
Explain what went wrong with full details and apologize of course, show them that you have no money to reimburse them.
Obviously consult a legal professional first, only a Lawyer/Solicitor can help you.
 
Looks like you're in big trouble legally. Don't run away. Tell your investors how you lost money and promise to repay them. I'm sure they will understand your predicament.
 
MisterF said:
Now basically, did we scam all those investors? - Only you know if you scammed anyone. If you set out to intentionally defraud people, then yes you did and deserve your legs breaking.


Or is it on both hands since they risked money in a high risk lending platform.
I feel fucking bad about knowing people invested in my project and it did not work out. - If this was a legit venture that failed and you did all you could to rectify things, then they lost their money as investors do when a business goes to the wall.
Click to expand...

It was no legit venture.
Everything was anonymous, because I knew at the beginning it was high risk and the government does not like lending platforms: example: bitconnect, davor.

NO, it was never the intention to end it like this, I swear to god.
I feel bad, extremely bad since I have gotten money that was not fairly earned, but refunding a total of $40k is just impossible.

So basically there is no road to go for me, that is the whole problem.

I am having a new job soon and starting a new platform takes allot, allot allot of time and money which gives me to much stress and leads to probially more dissapointed people.
 
Stop being a pussy!

Your investors knew it was high risk. The ones who were left holdingthe coin got burned.

You need to hold your head up and move on thankfully crypto isnt a regulated industry.
 
promise to repay them. I'm sure they will understand your predicament.[/QUOTE]
That is the whole problem, I cant repay $40k
 
Don't apologize to them. It will only make them more angry.

Investing by nature is high risk.

Hundreds of ICOs have already failed.

The investors should have been prepared for this to happen.
 
Do them a favor and do not repay. It will be an amazing lesson for them of not being a complete retard and invest in thin air possibly even more than few grands in the future
 
BassTrackerBoats said:
"Need advice, I scammed people"

BHW does not show up in that kind of search; how did you come to pop in here to get advice on how to fix this mess?
Click to expand...
Its a forum, no better place to ask for suggestions or see what people should do in my feet
 
Advertise on BHW
You must log in or register to reply here.
Sign up now!

Main Menu

Home Main Forum List Black Hat SEO White Hat SEO BHW Newbie Guide Blogging Black Hat Tools Social Media Downloads

Marketplace

Account Selling Content / Copywriting EBooks / Methods Hosting Misc Proxies For Sale SEO - Link building SEO - Packages Social Media Social Media - Panels Web Design More

Making Money

Affiliate Programs Hire a Freelancer IM Journeys Making Money Pay Per Click Site Flipping Want to Buy

BlackHat World

Dispute Resolution Forum Suggestions & Feedback Introductions Lounge
Back
Top