An awaited open and abruptly shut food delivery start-up case has been buzzing in the cryptoverse lately. Celebrity-endorsed CryptoEats food delivery company abandoned investors’ appetites, siphoning-off EATS token sale’s US$500,000. CryptoEats didn’t Burp, not even once!
Having reportedly raised over US$8 million in Series A funding, CryptoEats’ press release was distributed via GlobeNewswire. The release claimed that founder Wade Phillips (a non-existing identity) formed a partnership with McDonald’s, etc. The scam start-up reportedly hired a massive team of delivery personnel to “compete head-on with the likes of Uber eats and Delivaroo thanks to its algorithm based blockchain implemented software.”
Promoted via influencers and celebrities, CryptoEats actually celebrated their launch with a party. It also officially released its EATS token via a press release, then (BOOM) went traceless. Vice.com reports that per CryptoEats’ blockchain records, the developer wallet of CryptoEats sent approximately US$500,000 in Binance Coin to different crypto wallets, only to then disappear fully.
Pitching to be the first decentralized food delivery app, CryptoEats stated it would accept cryptocurrency coins and tokens. CryptoEats’ EATS utility token managed to amass a market cap of US$875.384, with a 7,000,000,000,000,000 EATS supply.
The Sun reports celebrity Joey Essex to be ‘fuming’ on getting ‘tricked’ to promote a scam crypto company.