Only happens in the crypto where a guy from mom's basement decides to code something and than sell the idea of making other rich and than steal millions from people not fulfilling the promises that was made to people
And it has zero consequences in this space, there used to be before when SEC chairman was Gary gensler but now it's an open field where everyone can scam and run away with millions.
The Death of a Smart Chain because of Investors
Back when it was 2022 I was in defi sort of gambling on a smart chain that was new to begin with and saw TVL rise from under $1million to peak $65m in TVL during the bear market
In the early days that chain was blooming because projects were new and people thought it'd be good to invest in those newly project that seems promising
As the Devs used to say they'll work on this roadmap and that. As long as people were investing in those solid project the chain was doing good.
But then came those fraud investors who made fake roadmaps, launched bunch of nfts selling dreams to people like it'll be next big thing
People bought those projects and they ran away with the money.
Came back and launched a new project did the same thing and ran away with money again. They took out millions from the chain by promising to work on this and that thing but later ran away with the money.
Chain went from zero to 65million dollars in TVL and came back to zero where it began from because it was milked by the investors.
VC's Do Same thing to projects
You don't hate VC's in crypto enough because they invest project early in and sell the moment project is live and they milk the entire project dry in weeks
When their vesting is reached they'd walk away and find another project.
First they'll tell you it's going to be the future of finance and later they'll walk away with the millions while you'll be in the slums figuring out where it all went wrong and why did you bought such a coin.
In this case I don't blame VC's but investors cause they're the one making decision to invest knowing the fact that this will happen to them but the greed has no boundaries and people realise it too late when they're already Rekt.
This is why I stay away from projects owned by VC's and where I see a lot of promises are being made to people I run from those things because it always ends badly.
Wonder what's your thoughts on this and do you blame investors? do share your thoughts in the comments and tell me about something that investors promised you and did the opposite and nothing.
that's all folks.