Nearly $109M in Yotta (YC S20) customer deposits vanish (cnbc.com) 36 points by segasaturn 1y ago ↗ HN
[–] sureglymop 1y ago ↗ Can anyone explain what the Yotta app actually is? From a quick glance it looks to be a gambling app. [–] segasaturn 1y ago ↗ They claimed to be a bank (savings account) that would give users free lottery tickets for saving money on their app. After freezing customer assets on the app, they pivoted to gambling. Customer funds are still frozen last I checked.Their launch HN thread here: https://news.ycombinator.com/item?id=23780062Coffeezilla has a good video exposing the fraud: https://www.youtube.com/watch?v=bBUkajbg688
[–] segasaturn 1y ago ↗ They claimed to be a bank (savings account) that would give users free lottery tickets for saving money on their app. After freezing customer assets on the app, they pivoted to gambling. Customer funds are still frozen last I checked.Their launch HN thread here: https://news.ycombinator.com/item?id=23780062Coffeezilla has a good video exposing the fraud: https://www.youtube.com/watch?v=bBUkajbg688
[–] danielscrubs 1y ago ↗ They moved fast and broke things? [–] ycombinatrix 1y ago ↗ I don't think it worked in the first place
5 comments
[ 2.8 ms ] story [ 18.6 ms ] threadTheir launch HN thread here: https://news.ycombinator.com/item?id=23780062
Coffeezilla has a good video exposing the fraud: https://www.youtube.com/watch?v=bBUkajbg688