Freeway Suspends Services, Sparks $100M+ Rug Pull Accusations
Main page News, scam, Crypto Market

Freeway, a cryptocurrency staking platform, has abruptly suspended services, citing "unprecedented volatility."

Subscribe to our Telegram channel to get daily short digests about events that shape the crypto world

The statement published on the platform says the team has decided to "diversify its asset base to manage exposure to future market fluctuations and volatility ensuring the long term sustainability and profitability of the Freeway Ecosystem."

"While this process is ongoing, Freeway will be allocating capital to its underlying portfolio and this means for a temporary time we will not be buying Supercharger simulations until our new strategies are implemented," Freeway said in the statement.

Hackers Steal More than $8M from DeFi Protocol Moola Market

Users on Twitter noted that Freeway also halted all platform withdrawals and removed the names of all team members from the website. Shortly after the news broke, Freeway's native token FWT lost 80%. As of press time, the token is trading at $0.001.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange

Read also:
Please describe the error