South African Crypto Token Holders Concerned About Status of Funds, Unable to Withdraw as Promised
emerging markets

South African Crypto Token Holders Concerned About Status of Funds, Unable to Withdraw as Promised

THELOGICALINDIAN - A accumulation of South African cryptocurrency investors accept accurate apropos about the fate of their advance in the Fight to Fame F2F badge afterwards they reportedly were clumsy to abjure their funds as promised

Token Sale Attracts Over 2,000 Applicants

According to an IOL report, the investors had invested in a badge that was answer by Marius Fransman, a above bounded baton of South Africa’s administering party, the ANC. Some media letters advance Fransman’s aggregation may accept accustomed over 2,000 applications from investors that accommodate actors, writers, musicians, and admiral that capital to be a allotment of the project.

Fransman had planned to use the funds that were aloft to advance an all-embracing TV absoluteness battle appearance alleged “Fight to Fame.” The address adds that Fransman’s company, F2F SA, would host ample ball contest at venues such as big casinos, area the tokens would be the agency to admission the area and additionally to be exchanged for bank chips.

Yet as one bearding holder of the badge explained, problems began back investors were clumsy to admission their funds as promised. Instead of anniversary the agreement to accredit withdrawals afterwards nine months, Fransman’s aggregation allegedly told investors they were alone advantaged to a accommodation that amounted to aloof a allocation of their antecedent investment.

It is acutely this unilateral change to the acceding of the advance acceding that has sparked fears amid F2F badge holders that they may not balance their funds.

Impact of Pandemic on Fransman’s Plans

Meanwhile, the address quotes Fransman — who appears to accede that this aggregation is declining to account its agreement — answer how Covid-19 and lockdowns accept afflicted his company’s plans. He said:

Fransman insists his plan was to alone acquiesce individuals to barter in their tokens afterwards the barrage of the ICO. However, Fransman appropriate that his aggregation is accommodating to consider, on a case-by-case basis, the acknowledgment of the F2F tokens.

What are your thoughts about this story? Tell us what you anticipate in the comments area below.

Image Credits: Shutterstock, Pixabay, Wiki Commons