COINTED UPDATE – CRYPTO-EXCHANGE DOWN, MISSING PAYOUTS, AND NO GUIDANCE

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The situation around the Austrian crypto-company COINTED continues to smolder. We recently reported that the company appears to be on the brink of collapse due to the official announcements and information we received from insiders. Various inquiries we made have supported this view. Since the announcement on June 18, 2018, that the COINTED crypto-exchange has to be stopped at least temporarily due to technical problems and hacker attacks, nothing has been posted on Facebook by COINTED, for example. The questions remain unanswered.

There has been no posting on the official telegram channel of COINTED since June 11, 2018. On the other hand, more and more investors of COINTED ICO‘s on the ICO channel complain about problems and call on the authorities to take actions. Last week a video message by COINTED CEO Wolfgang THALER was announced on the ICO channel on Telegram. Apparently, that didn’t work out.

COINTED ICO proceeds are almost gone
COINTED and the ICO revenues on Etherscan
COINTED’s ICO proceeds are almost gone

As we learned from our Etherscan analysis, COINTED‘s ICO proceeds have now shrunk to around US$ 18,000 or 40 ETH. This week 130 ETH have been withdrawn again from the ICO wallet. COINTED almost completely burned the raised USD 4.4 million (or 4,055 ETH) in just 100 days. Allegedly, a significant portion of the ICO funds was used to finance crypto-mining investors’ payouts. We were confirmed that COINTED was a short-term customer of the BLOCKBASE crypto-mining center in Boden (Sweden) and initially hosted the mining servers there. However, the cooperation was terminated and according to Charli AHO, one of the shareholders of COINTED and CTO of the company, a considerable part of the mining servers has been offline since then.

Given the silence of the COINTED management around Wolfgang THALER, Charli AHO, Daniil ORLOV and Albert SPERL, it seems likely that the problems of the company threaten its very existence. In any case, there has been no easing on the COINTED front over the last few days, on the contrary. But as we all know, hope is the last to die.

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