Adoption at scale is the challenge of the world of cryptocurrencies and blockchain in general, therefore, there will be no shortage of those who take advantage of the need to achieve this goal to be able to profit in exchange for the losses of many others, simply using the words Crypto, blockchain, or coin keys in their names and promote the supposed winning product.
This is the story of Crypto eats, a company in the United Kingdom that promised to stand up to the big food delivery companies like Ubereats, Glovoo with its own application, but which has turned out to be a headache for many, and a stain on the career of others because everything seems It turned out to be a scam when after its launch, the company that claimed to have an investment of 8 million dollars and agreements with McDonald’s disappeared without leaving a trace with the investors’ money.
Through the good use of marketing, leveraging itself using terms of the crypto ecosystem, the image of influencers, celebrities and the idea of penetrating a market of billions of dollars such as the food delivery market, the company announced that it would create its own token which EATS would call with a total supply of 7,000,000,000,000,000, adding it would accept payments in other cryptocurrencies. All this helped him so that in just 30 minutes through the internet they took a loot of 500,000 pounds, and put together a situation that would put the UK authorities without knowing where to look for them because they have left without a trace.
Everything seemed to be so perfect with a market study that ensured that there were cryptocurrency holders wanting to give it a daily use in their expenses, and also with a successful private testing of the app among 1000 thousand users. What could go wrong? Well, everything, and even more when after it was discovered that the supposed CEO and founder of the company who as Wade Phillips never existed and the corporate photo that was shared of the company in the press releases that can still be found in Yahoo Finance, It turned out to be false leaving everyone grumpy and looking sideways.
Those who have been affected in addition to investors are a group of influencers and celebrities who lent their image and their accounts on social networks to promote what would end up being one of the most controversial scams in the United Kingdom through the internet. To this day, it is known that several of them have been questioned about the involvement they had with the company when collaborating with them and thus being able to find their whereabouts, but despite the fact that some have lamented what happened, their image has unfortunately been affected.
Cryptoeatuk promoting their service on Instagram before deleting the profile.
While on the internet the reaction of people has turned out to be from surprise to those who claimed that they had been warning and were right, on the social network Instagram you can some tweets where they denounce and narrate that it turned out to be Cryptoeats and their latest messages by Telegram before deleting everything.
Link of the last message: https://www.instagram.com/p/CVJnRSVq8C0/