Freeway, a cryptocurrency staking platform, has paused withdrawals citing crypto and foreign exchange market volatility. The sudden transfer of the undertaking is signaling one other rug-pull within the crypto area.
The cryptocurrency undertaking provides ‘Superchargers’ with an annual yield of as much as 43 p.c. It takes deposits in each fiat and cryptocurrencies, placing them in regulated brokerage accounts.
As all of you can be conscious, there was unprecedented volatility in Overseas Alternate and Cryptocurrency markets in current occasions. pic.twitter.com/9aHsWbm1So
— Freeway (@FreewayFi) October 23, 2022
In response to the announcement on October 23, the platform is halting buys and deposits too. Additional, the undertaking will “not be shopping for Supercharger simulations till our new methods are carried out.”
Freeway is a lesser-known undertaking within the broader cryptocurrency market. The sudden occasion additionally resulted in round an 80 p.c worth drop within the native Freeway (FWT) token of the platform. Earlier than the crash, the undertaking had a market cap of lower than $70 million, which got here all the way down to solely $10 million.
The undertaking’s web site claims that it had $160 million in whole locked worth.
A Small But Vital Crypto Mission
Nonetheless, the undertaking doesn’t have any vital whales holding its tokens. Most of its 4,342 token holders obtained airdrops and saved the holdings primarily ultimate.
Within the newest announcement, the platform mentioned it’s exploring new methods by diversifying belongings and managing “publicity to future market fluctuations and volatility.” Nonetheless, it didn’t present any particulars.
“We are going to notify you once we are able to recommence partial Supercharger simulation purchases (buy-backs) after which once more as we will recommence full Supercharger simulation purchases in addition to on platform Freeway Token (FWT) Deposits and Buys,” the undertaking mentioned.
Nonetheless, an unlimited pink flag of the undertaking got here as its administrator began to tug down particulars of the staff.
Always remember these scammers (though I will be shocked if not less than one in every of them would not get cosmetic surgery) pic.twitter.com/Y0Ene9LBG9
— FatMan (@FatManTerra) October 23, 2022
“The entire staff are working very laborious with the intention to recommence partial Supercharger simulation purchases (buy-backs) after which to once more be capable of recommence full Supercharger simulation purchases,” the moderator of the undertaking added.
Freeway, a cryptocurrency staking platform, has paused withdrawals citing crypto and foreign exchange market volatility. The sudden transfer of the undertaking is signaling one other rug-pull within the crypto area.
The cryptocurrency undertaking provides ‘Superchargers’ with an annual yield of as much as 43 p.c. It takes deposits in each fiat and cryptocurrencies, placing them in regulated brokerage accounts.
As all of you can be conscious, there was unprecedented volatility in Overseas Alternate and Cryptocurrency markets in current occasions. pic.twitter.com/9aHsWbm1So
— Freeway (@FreewayFi) October 23, 2022
In response to the announcement on October 23, the platform is halting buys and deposits too. Additional, the undertaking will “not be shopping for Supercharger simulations till our new methods are carried out.”
Freeway is a lesser-known undertaking within the broader cryptocurrency market. The sudden occasion additionally resulted in round an 80 p.c worth drop within the native Freeway (FWT) token of the platform. Earlier than the crash, the undertaking had a market cap of lower than $70 million, which got here all the way down to solely $10 million.
The undertaking’s web site claims that it had $160 million in whole locked worth.
A Small But Vital Crypto Mission
Nonetheless, the undertaking doesn’t have any vital whales holding its tokens. Most of its 4,342 token holders obtained airdrops and saved the holdings primarily ultimate.
Within the newest announcement, the platform mentioned it’s exploring new methods by diversifying belongings and managing “publicity to future market fluctuations and volatility.” Nonetheless, it didn’t present any particulars.
“We are going to notify you once we are able to recommence partial Supercharger simulation purchases (buy-backs) after which once more as we will recommence full Supercharger simulation purchases in addition to on platform Freeway Token (FWT) Deposits and Buys,” the undertaking mentioned.
Nonetheless, an unlimited pink flag of the undertaking got here as its administrator began to tug down particulars of the staff.
Always remember these scammers (though I will be shocked if not less than one in every of them would not get cosmetic surgery) pic.twitter.com/Y0Ene9LBG9
— FatMan (@FatManTerra) October 23, 2022
“The entire staff are working very laborious with the intention to recommence partial Supercharger simulation purchases (buy-backs) after which to once more be capable of recommence full Supercharger simulation purchases,” the moderator of the undertaking added.
