Web3 game project allegedly hired actors to pose as executives in $1.6M exit scam

The FinSoul team apparently worked with paid stars to pretend to be its executives, then raised funds for the sole function of developing a gaming platform. Rather of really creating the platform, the FinSoul team apparently moved $1.6 million in bridged Tether (USDT) from investors to itself. The rebranded “Standard Cross Finance” group continued to promote FinSoul on YouTube and Telegram, the report states.

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Source: BSCScan.According to CertiK, the Standard Cross Finance team has actually managed to encourage financiers to when again invest in its job, in spite of twice draining pipes funds from financiers. Source: DEX Screener.Cointelegraph got in touch with the Standard Cross Finance group but did not get a response by the time of publication.The story of FinSoul serves as a cautionary pointer that crypto financiers must investigate new projects before devoting funds to them. In 2021, the PopcornSwap exit rip-off resulted in over $11 million in losses to investors and led to criticism of the BNB Chain advancement team that still continues to this day.Collect this post as an NFT to maintain this minute in history and reveal your support for independent journalism in the crypto area.

The FinSoul group apparently hired paid actors to pretend to be its executives, then raised funds for the sole function of developing a gaming platform. Rather of in fact creating the platform, the FinSoul group supposedly transferred $1.6 million in bridged Tether (USDT) from investors to itself. The rebranded “Standard Cross Finance” group continued to promote FinSoul on YouTube and Telegram, the report states. Source: BSCScan.According to CertiK, the Standard Cross Finance group has actually handled to persuade financiers to when again invest in its project, regardless of twice draining pipes funds from financiers. Source: DEX Screener.Cointelegraph contacted the Standard Cross Finance team however did not receive a reaction by the time of publication.The story of FinSoul serves as a cautionary tip that crypto investors need to examine brand-new jobs before devoting funds to them.