Is Lyfcoin a scam? Project discussion
Against the background of a relatively stabilized and even growing digital market, the topic of crypto security is becoming much more relevant. For example, today suspicions of dishonest activity were raised in relation to the well-known Lyfcoin project. Below we will tell you everything that is known about this digital company and its possible shenanigans. So, without further ado, let’s get started.
Company details
First of all, it is necessary to describe the essence of the platform for those who, in principle, are not familiar with Lyfcoin. And we are sure that, despite the high popularity of the project, there are many among our readers who hear about the company for the first time. So, Lyfcoin is a fairly well-known token in Europe, which positions itself as a highly profitable platform with minimal risks. At the same time, the creators of the project note, unique algorithms are at the heart of the work of their project. They have no analogues and are practically devoid of serious competitors. However, at the moment the project is not in the most enviable position. The fact is that the representatives of the prosecution (a group of 14 large British investors) say that the creators of the project deceived them for quite a lot of money.
Criminal schemes
As it was, according to the victims: after investing money in the project, the creators first began to postpone the release of the company. And then, after a long silence on the part of the developers, the investors themselves noticed that the value of the issued asset was much lower than the declared one. In their opinion, Lyfcoin is a classic pyramid scheme. The project was supposedly going to return the money invested at the expense of new investors. But, in the end, it would simply exhaust its own resource, like any financial apparatus of a dishonest type.
Screenshots of correspondence and bank transfers are attached as evidence base, which confirm that investors really worked with the company. We are talking about a specific transaction of € 36,500. The total losses incurred from Lyfcoin are measured at 2.5 million euros. After all, the company allegedly deceived tens of thousands of investors. Therefore, the real damage may well be estimated at $ 3 million, and even in larger amounts.
How real is the reason for the accusations?
At first glance, this is an obvious situation. The culprit is obvious. Obvious victims. Only the reaction of the authorities is not obvious. According to the victims, the investors went to the police. However, the British authorities did not react in any way to the application. Even in spite of the seriousness of the case, the creation of a financial pyramid directly threatens the country’s economy. However, at the moment there is no official confirmation or refutation of the project’s dishonest activities.
It is also not entirely clear why investors invested in the company, if there is not even information about the creators of the platform among the publicly available information. We do not argue, the situation is quite controversial by its nature. However, at the moment we would not recommend investing in Lyfcoin. Still, it is quite possible that in the near future we will receive real confirmation of the project’s dishonest work. In order not to miss this and many other events from the world of cryptocurrency and finance, follow all the news from the crypto industry with us. We publish only high-quality and interesting material. Thanks for attention. Good luck!
