A Chinese wallet application on EOS seems to be down, $ 52 million inaccessible | Money Blog

A wallet application that promises to pay high returns to depositors named EOS Ecosystem has closed the platform, and the founder seems to have fled with $ 52 million in user assets.

Yesterday (April 20), after a series of investors reported that they were unable to access the accounts of an EOS ecosystem wallet application; China's ChainNews has conducted an investigation and said most of the money has also disappeared from user accounts.

Investors said they could not log in

Ever since Block.one released EOSIO open source blockchain software in 2018, many scams have been carried out around EOS's original blockchain cryptocurrency; such as EOS Vote, EOSCUBE, and EOSFIN.

It was previously reported that ChainNews also reported that the EOS ecosystem does not have the EOS node as stated and operates under a multi-level model.

In 2019, the project was sued in a local court in Dangzhou, China, alleging the execution of a multi-level program involving more than 33 million EOS tokens.

At the time of this writing, EOS is trading at $ 2.53, down 4.16% in the past 24 hours.

A Chinese wallet application on EOS seems to be down, $ 52 million inaccessible

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