The sad and peculiar case of Satowallet’s alleged $1M cryptocurrency exit scam – The Next Web

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Nigerian cryptocurrency startup Satowallet has exit-scammed, making off with $1 million of its users’ money, reports International Business Times.

According to company CEO Samuel Ben, however, the firm isn’t responsible for those losses. Instead, he says Telegram scammers tricked users into handing over access to their funds during an extended maintenance period.

Ben also claimed the pesky scammers returned to steal more funds when Satowallet attempted to establish Know-Your-Customer policies earlier this year.

Eventually, he firmly passed the buck to its hosting provider OVH, publishing rather peculiar claims in a blog. Unfortunately for Ben, Satowallet’s Medium page has been suspended, pending investigation, presumably for suspicious behavior.