In Possible Exit Scam, Chinese EOS Wallet Locks Up $52M of Customer Funds

Quite like cryptocurrency itself, crypto scams seem here to stay.

EOS Ecosystem, a wallet app that attracts investors to deposit EOS with promised high returns, has reportedly shut down and possibly run away with close to $52 million, according to an April 20 report.

$52M is gone and more is potentially missing

The local media’s investigation of EOS block transactions found the balance of one of the EOS accounts associated with EOS Ecosystem had no more than 500 EOS tokens left. The account holder had removed about 890,000 EOS tokens on Monday morning.

They dug a little further and tracked down a number of other accounts that also belong to the wallet business. One of the main accounts had received about 19.36 million EOS tokens from small accounts that same day. At current EOS prices, the sum is about $52 million. The report also says there might be more yet to be discovered. Read More...

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