Gus – Cryptocurrency Expert
The creators of MonkeyPoxInu (MPOX) cryptocurrency investment made off with $400 million in an alleged exit fraud when the token's price plummeted. The cryptocurrency investment coin has now lost more than 99 percent of its initial value, according to a tweet from @CryptoWhale.
Due to its newness, the token appears to have gone unnoticed by many. It isn't included on popular cryptocurrency data websites like CoinMarketCap and CoinGecko. However, a brief examination at PancakeSwap, a decentralised cryptocurrency exchange (DEX), using the following smart contract address, reveals that the token indeed exists and is compliant with the BEP-20 standard:
Meanwhile, others on Crypto Twitter reacted to the MonkeyPoxInu exit fraud with ridicule, worry, and sadness. Greg, a well-known meme poster, for example, added a dash of irony to his comment:
Others, on the other hand, cautioned against investing in such ventures. Some have said that the name of the token should be enough to discourage people from purchasing it.
The exit scam is similar to Squid Game Token, a famous Netflix comedy with the same name. Squid Game Token took advantage of the South Korean hit's buzz and rug-pulled it after a few days. In other developments, Do Kwon, the developer of Terra, and Sam Bankman-Fried, the CEO of FTX, have been named in the newest dispute concerning the demise of LUNA and UST. According to accusations, Kwon and Bankman-Fried were involved in a complex conspiracy that resulted in the Bitcoin project's abrupt collapse.
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Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards