- Freeway crypto staking platform halted withdrawals due to market volatility.
- FatMan accuses Freeway of running a Ponzi scheme and urges the investors to withdraw funds.
- ‘We built it to create benefits and rewards for people’ says Founder Doggart.
As per the notice published on its website, Freeway, a UK-based crypto staking platform halted withdrawals citing the volatility in the crypto and Forex markets.
FatMan, a crypto and finance researcher, took to Twitter to inform the crypto-twitter community about Freeway stopping withdrawals.
However, before Freeway halted withdrawals, FatMan informed the crypto community to make withdrawals right away. While forewarning the users to make withdrawals, FatMan stated:
If anyone has funds in the crypto yield platform Freeway, I would suggest withdrawing right away. I believe they are operating a Ponzi scheme. In my opinion, it’s likely that Freeway will collapse within the next few months and that all depositors will lose everything
Notably, in a recent video posted to the company’s YouTube channel, Graham Doggart, one of Freeway’s founders explained:
We built it [referring to Freeway] to create benefits and rewards for people and I want to see those people benefit and be rewarded for it
On another occasion, Matt Spangard, CTO of Freeway, in a promotional video from July 12, 2021, also said: “It doesn’t matter if the market is going up or down, you’re always getting a little bit more of what we already have,”
According to FatMan, Freeway scrubbed off the names of all team members from their website after halting the withdrawal. Addressing this scandalous activity of Freeway, FatMan stated in a post to not forget “the scammers” referring to the top-tier team members of Freeway.
Moreover, FatMan mentions that he’ll be surprised if one of them would not get plastic surgery.
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