Over the weekend, an announcement was posted in the TPC server, with project leader Sammy claiming that he lost the BTC of his trading pool. While many accusations have been made, the VAULT team is taking these seriously and is conducting an investigation. At the forefront of VAULT’s concern is the security of its investors.
Today, VAULT Co-Founder Ian issued a statement in the VAULT server on the situation.
On the identity of Sammy:
VAULT Investments verified the project owner through documents and photo ID as well as on video call. We created the blockchain and other services to TPC and rightfully ranked TPC as CRYO GOLD project. VAULT Investments took a security deposit from TPC before any work was started and the conditions were agreed in a document that TPC would have the deposit returned when they launched on an exchange or the deposit could be used to pay for the exchange. This agreement was kept and TPC launched successfully.
He went on to say that while it is not VAULT’s responsibility to ensure that these projects deliver, its goal is to protect investors, project owners and the community through programs like CRYO. As TPC is a CRYO project, there is always a “plan B” in place.
While Sammy has said that funds will be reimbursed, VAULT is monitoring the situation closely and will act accordingly if suspicious activity continues. Alternative measures to compensate pre-sale buyers from their own BTC share are being discussed internally.
The VAULT and TPC communities can rest assured that the team is doing all it can to ensure that the situation is rectified.
Proposals on next steps will be made in the coming days.
For more information, visit the VAULT discord server.