MartCoin collapses following upgrade, investors cannot withdraw
MartCoin came into existence late 2017. The coin admins promised investors ‘a clear and specific plan for Martcoin to reach $290 by the end of 2018′.
However, the coin officially collapsed on February 2nd, 2018 Prior to collapsing, MartCoin shut down its servers for an “upgrade” on January 30th. They updated:
After completing the upgrade, we will announce the great Martcoin events in February.
On February 2nd MartCoin advised it’s affiliates:
Lending – Spinning Program will officially cease operation after 9:00 am (UTC) on Feb 02, 2018.
Whether it is a good product, and our unique idea. But at the moment, Lending makes Martcoin’s development hindered.
While lending is condemned and does not guarantee the trust of new investors.
In addition to this, big international trading exchanges are also hesitant.
MartCoin is likely referring to the recent US regulatory crackdown on ICO lending Ponzi schemes. Now the question is what happened to funds invested?”
We will close the Lending system and refund your investment in USD.
With initial investment and profit from Lending, You can “transfer” through MART at the average price that all customers join the Lending program.
Other features include ETH deposits and withdrawals are still as usual.
However this is not true. Comments from MartCoin affiliates on the company’s Facebook page suggest withdrawals have been disabled for some time.
When will you allow withdrawal martcoin?
ETH withdraw pending from 30 January. Why?
ETH withdraw pending ??????????
Withdraw ether still pending for long time.
Give my money back your not allowing me to withdraw my money but now my money is lost n your website? How COME….. ?
It is been more than 10 days my withdrawals are still pending, i cancelled twice and re submitted the new orders but it still says pending, you guys need to work on that, Why would you start with lending if you wanna hung up on investors…
Hello Admin, i still have problems with my withwadral, that have a OUT OF GAS error on blockchain. I am waiting now 20 days.
What is obvious is the fact that MartCoin cannot pay referral commissions and lending ROIs and still refund everyone what they invested.
Once there are no new affiliates, a Ponzi scheme folds up and the admins cart away the funds. This is what Matcoin admins did on the 30th (Carting away the funds) saying they are doing an upgrade. In Ponzi scheme, people must loose.