The developers of the Chinese crypto wallet EOS Ecosystem have closed the project and allegedly run away with $52M from users, local news outlet ChainNews has reported.
On Monday, the users of the service started to report they were having problems to access their EOS Ecosystem accounts. According to ChainNews, most of the money has also disappeared from the service's addresses.
It should be noted that the team behind EOS Ecosystem had been accused in the past of organizing a financial pyramid and was even sued in 2019. EOS Ecosystem reportedly rose 33 million EOS tokens (around $81M at current exchange rate). In addition, it is also believed EOS Ecosystem does not have its own EOS node, contrary to what its developers claim.
Since the launch of the EOSIO protocol back in 2018, many fraudulent schemes have emerged around the project, including EOS Vote, EOSCUBE and EOSFIN.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.