Fintoch Latest Update Today: In our previous Fintoch review, we warned people to steer clear of Fintoch, a Ponzi scheme scam that could collapse at any moment. Unfortunately, our concerns have become a reality as the Fintoch Ponzi scheme has collapsed.
Withdrawals were abruptly disabled after approximately $31.6 million was reportedly withdrawn from an associated smart contract.
In this post, we will provide an update on the current situation regarding Fintoch withdrawals, along with guidance on navigating the withdrawal process. We will also address recent developments, such as Fintoch’s withdrawal restrictions, Fintoch login, and the latest updates.
Fintoch was an MLM-cryptocurrency investment platform that promised high returns to investors. The platform was launched in 2022 and quickly gained popularity, due to a return of 1% to 2.5% on investment.
On May 4th, Singapore issued a securities fraud warning against Fintoch. Authorities cautioned users about investing in Fintoch, indicating that it operated as a fraudulent MLM crypto Ponzi scheme.
On around May 23rd, Fintoch disabled withdrawals without any prior warning. This move came shortly after a large sum was withdrawn from an associated smart contract, raising concern of a coming collapse.
Fintoch cited “network congestions” as the reason behind the withdrawal restrictions, but this explanation appears to be doubtful. Despite the passing of three days, withdrawals remain disabled, leaving investors concerned.
Shortly before the collapse, Fintoch held a marketing event in Dubai, a city known for its association with MLM crimes. This choice of location suggests that the scammers behind Fintoch may have relocated from Asia. The event featured Joel Fry as “William Thompson,” further highlighting his involvement in the scheme.
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Fintoch Withdrawal Update
As of 30 May 2023 the official website of Fintoch, fintoch.com is still active but people are unable to withdraw their funds.
However, reports suggest that it is not possible to withdraw funds from Fintoch anymore. Moreover, one Twitter user tracked $31.6 million being transferred out of Fintoch’s smart contract, but the total amount invested in Fintoch remains unknown.
Fintoch’s recent announcement regarding the launch of its own blockchain, the FTC public chain, has left many investors puzzled.
Despite the collapse of the Ponzi scheme and the associated withdrawal restrictions, Fintoch claims that the introduction of their blockchain will mark a new phase of explosive growth. However, it seems to be another money-trapping move by Fintoch.
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How to Withdraw Funds from Fintoch?
With the current withdrawal restrictions in place, withdrawing funds from Fintoch seems impossible.
However, it is recommended to stay updated on Fintoch’s official communication channels for any announcements or updates regarding withdrawals, as Fintoch has announced new projects and it may still enable the withdrawal process.
Also, If you lost money in Fintoch, you may be able to file a complaint with the Securities and Exchange Commission (SEC). The SEC can investigate Ponzi schemes and take action against the operators.
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