Not Gone: Savedroid ICO Comes Back, Plans ICO Advisory Service

  • SafeDroid, a company that had reportedly pulled an exit scam, revealed it was all a publicity stunt showing how easy it is to pull such a scam in this sector
  • While the team claims it wants to help regulators and will launch an ICO advisory service, investors didn't enjoy the move

In a YouTube video titled “And it’s NOT gone” published by SaveDroid AG the company's founder, Yassin Hankir has recently revealed that the company hasn’t pulled an exit scam, and unveiled it plans to launch an ICO advisory service to help with regulatory efforts.

According to reports, the German-based company, SaveDroid, has been accused of conducting an exit scam, as its website’s homepage had been altered to a single image of the 'Aaand, it's gone' meme from South Park.

Through Twitter, Hankir gave investors the idea that the company pulled an exit scam, as he shared a picture at the beach holding a beer, while captioning it “Thanks guys! Over and out…” The project reportedly raised over €40 million (about $49 million) from investors.

 

SaveDroid has made waves within the German Fintech sector, as the amount it raised is relatively large, compared to other startups in the country. Local news outlets even speculated SaveDroid was hacked.

Seemingly, the company just attempted to pull a publicity stunt that seems to have left a bad taste in its investors’ mouths. While the move got media attention, it also garnered investor ire.

“And It's NOT Gone!”

SaveDroid’s webpage recently added a Youtube video, in which its CEO Hankir explains that the team pulled a fake exit scam, which was not intended to be a prank. Instead, it was a move meant to convey what he refers to as a 'serious message'.

"If we look at this market, we've seen that there is so much scamming happening... From the beginning to the very end of an ICO. And what we've seen so far has been only the tip of the iceberg."

Yassin Hankir

Hankir then mentions the damage that such wide-scale scamming has on the cryptocurrency ecosystem’s credibility. The false scam was SaveDroid's way of demonstrating how easy it is for a company to shut down, leaving investors in the dark and out by hundreds, even thousands of dollars.

"The message behind this is, if we don't change that and if we don't go for better regulation. We believe that this will bring the whole market down...," he said.

Organizations such as US Securities and Exchange Commission (SEC) are seeking a more collaborative system of regulation and oversight. This is akin to what Hankir goes on to address, claiming SaveDroid wants to help counter the prevalence of scams in the cryptocurrency world.

"SaveDroid wants to contribute in two ways: Firstly, we do want to be an active partner for regulators, for authorities. So basically sharing our insights, sharing our knowledge by discussing with the guys how sustainable regulation would look like (…) The second part of it being we will launch a new service line which is [a] professional ICO advisory..."

Yassin Hankir

While the video’s intentions were seemingly good, the number of dislikes the video has makes it clear investors didn’t enjoy the move.

Samsung's Galaxy S10 Appears to Include 'Blockchain Tutorials' for Its Crypto Key Storage

South Korean tech giant Samsung has recently hosted its Unpacked event in San Francisco, introducing the world to its new flagship model Galaxy S10, which appears to include blockchain tutorials for its built-in crypto key storage solution.

The cryptocurrency community has been expecting the flagship model to feature a built-in cryptocurrency wallet, as leaked images appeared to show an image of it, and made it seem it would support Ethereum, and presumably ERC-20 tokens. The tech giant had late last year filed a trademark application for a cryptocurrency wallet software.

During Unpacked, however, no mention of a built-in cryptocurrency wallet was made. In a press release posted soon after, Samsung noted it includes a line on housing private keys for “blockchain-enabled” mobile services. The document reads:

Galaxy S10 is built with defense-grade Samsung Knox, as well as a secure storage backed by hardware, which houses your private keys for blockchain-enabled mobile services.

While Samsung stopped short of calling it a cryptocurrency wallet, the company made it clear users would be able to store their private keys securely using the smartphone’s hardware. This, however, didn’t imply it would have a friendly user interface for users to interact with blockchain applications, or send and receive cryptocurrency.

In a recently shared video Twitter user Heslin Kim revealed the Galaxy S10 does include a built-in cryptocurrency wallet, along with what appear to be “blockchain tutorials” guiding users through it.

Various cryptocurrency users believe Samsung adding the crypto key storage is bullish, as it’ll expose millions of users to the cryptocurrency space. The smartphone’s crypto key storage appears to let users store both bitcoin and ether.

Why the tech giant stopped short of calling it a cryptocurrency wallet is unclear, although some believe it was trying not to scare away its core audience.

This, as the crypto market’s over 85% decline from 2017 highs, as well as recent events involving millions getting lost because QuadrigaCX’s CEO passed away, could be a turn off for various Samsung users.