Cryptocurrency Ponzi scheme DavorCoin suffers the same fate as Bitconnect

Cryptocurrency Ponzi scheme DavorCoin fell from $180 to $0.03 last week, with a warning from state regulators in Texas.

DavorCoin, promised by the Texas State Securities Exchange (TSSB) to give investors stable interest income with the promise of likened to BitConnect. On February 2, the board sent a notice to the lending platform, alleging that the people behind the plan deliberately kept the information of the stakeholders private.

The end of cryptocurrencies, similar to the pyramid scheme, is the same

According to the notice, investors are given a notice of what is known as Davorcoin. He found that he said they could make a profit by investing in a cryptocurrency-based lending program. Investors allegedly lent DavorCoin money after purchasing the token. According to data from CoinMarketCap, the price hit $180 a month ago but by the day of the announcement, the DAV token had dropped to around $3.. After the news spread further, the value of the token dropped to about $0.03.

DavorCoin dropped from $180 to $0.03

The team said in a blog post on February 7:

“No doubt the DAV token has been negatively impacted by our lending program. Because the crypto landscape has changed dramatically recently. We have done everything possible to protect our platform and our wonderful community.. But within 20 days, DAV price dropped from $180 to $0.5. As a result, we decided to change our strategy and end our lending program, which caused DavorCoin to lose value.” states. However, no official statement has been made on the blog and Twitter accounts since then.

Coindesk