QUADRIGA INITIATIVE
CRYPTO WATCHDOG & FRAUD RECOVERY PLATFORM
A COMMUNITY-BASED, NOT-FOR-PROFIT
$189 000 USD
APRIL 2021
GLOBAL
CRYPTOPTION
DESCRIPTION OF EVENTS
"Cryptoption is the latest decentralised protocol for buying and selling Binance Smart Chain token derivatives. This project will bring you a new experience on cryptocurrency and DeFi." "THE First platform can exchange and provide bsc altcoin option." "Cryptoption enables user to trade on a trustless and decentralised manner without relying on a middleman or any third party. We provide a wide variety of derivatives inspired by stock markets such as Stock Options, Warrants and Leveraged Futures for BSC tokens through the use of Smart Contracts. Each derivatives pairs are smart contract based and fungible which investors are free to transfer the ownership of the derivatives without any restriction. Also, they are ready for any potential Defi implementation and upgrades."
"Funds are completely on your own Wallets." "The security of our platform is our highest priority. To ensure top-notch security, Our smart contracts were audited and will be audited by different firms to provide maximum security for our customers. IT security assessments are also executed to keep up to date with new potential vulnerabilities. We also have an ongoing bug bounty program where community members can report any bugs or vulnerabilities and they can receive rewards in terms of $CTOP."
"We published a confirmed Exit Scam alert on a project name Cryptoption at http://certik.org. The scammers abandoned the project after the token pre-sale and took away 189,117 BUSD funds received in the pre-sale. Take extra caution when participating in any token pre-sale."
"Community alerts were received on a project named Cryptoption that exit scammed. The scammers abandoned the project after the token pre-sale and took away 189,117 BUSD funds received in the pre-sale."
Cryptoption (as an anonymous unvetted team) launched an investment fundraiser for a new exchange platform.
They disappeared with the funds of investors, and it does not appear that any recovery or investigation in progress.
HOW COULD THIS HAVE BEEN PREVENTED?
Having a regulated and lightweight framework would protect investors by ensuring that those running platforms are known and held to account.
Example Domain (Mar 23)
CertiK Blockchain Security Leaderboard (Jun 1)
Cryptoption – Next Generation of Defi (Aug 21)
Cryptoption Review | Trading-Scams.com (Aug 21)
https://mobile.twitter.com/certikorg/status/1384354068391464967 (Jan 10)
