Stripe at the center of the scandal: the platform owes 120 thousand
Unfortunately, the high popularity of the cryptocurrency market helps not only young and talented developers develop, but also scammers who promote their own dishonest projects under the guise of noble enterprises. It is not yet known if this is Stripe. A well-known service that helps in the conclusion of partnerships and the collection of investments is accused of fraud. According to investigators from the Massachusetts State Attorney’s Office, USA, the company is linked to criminals. However, at the moment the investigation has been stopped. For the refusal of the charges, the company must pay the state structure 120 thousand dollars. What exactly is happening with Stripe? And why was it so easy for the firm to buy off the persecution? Let’s figure it out.
More about the Stripe
It is possible that some of the readers, in principle, hear about Stripe for the first time. That is why it is extremely important to first describe the project, and only then move on to studying its possible participation in criminal schemes. The cryptocurrency market is literally tied to investments, private investors invest in entire companies, companies issue tokens and return them to investors … These are quite complex processes that do not do without intermediaries. One of these was Stripe. The company helped interested parties to conclude lucrative contracts, but at the same time it collected investments itself. What’s more, like most modern businesses, Stripe has supported blockchain businesses. Nevertheless, such undertakings negatively affected the company’s reputation.
Previously, Spire began cooperation with the digital project PlexCoin, which promoted its own cryptocurrency. The company has stated that their internal token is a replacement for “legacy Bitcoin.” Of course, a huge number of potential investors fell for such loud slogans. Contributors started sending large sums of money to the project through the Stripe functionality. And, it is not known, with or without consent, but the companies carried out transfers through the system, which in fact are theft of investments. Roughly speaking, part of the funds simply went to the accounts of PlexCoin owners, without paying taxes, without accounting. Such “gray” money was revealed relatively recently, and became the reason for serious litigation. However, as you may have read, the court is now ready to drop the charges against Stripe. PlexCoin will continue to be dealt with, but Stripe may get out of court. For only 120 thousand dollars.
What is 120 thousand dollars charged for?
For the opportunity to continue quiet work and stop appearing in the case of cryptocurrency fraud. Major litigation will continue, but most likely without Stripe. Obviously, the details of such complex and expensive transactions have not been disclosed, so we can only disclose the guesses taking place on the Web. Users believe that the trial simply does not have enough evidence, and therefore the state structure decided to withdraw an extra participant in the trial. For a decent fee of $ 120,000. Note that Stripe has not yet paid the invoice. So everything can change at the last moment. It is possible that Stripe will agree to defend the tarnished PlexCoin name. The company is accused of defrauding 22 large investors.
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