In a long-awaited statement, COINTED CEO Wolfgang THALER sent a video message from China today (July 16, 2018). There he allegedly meets investors who are supposed to help save COINTED. THALER claims to have paid for the trip to China itself. Unfortunately, the video has been recorded in German which is more than strange for an international company.
In his video message, he first noticed that his 2 partners had failed him. Well, so far we have noticed that the COINTED founder Christopher RIEDER left the company because of his alleged involvement into the crypto-crime case OPTIOMENT and is on the run (or on a long business trip) since then. So, who is the second partner then?
However, THALER will do everything in his power to avoid the imminent insolvency of COINTED. Allegedly, the police raid of the COINTED offices would be responsible for the crypto-ATM’s having to be taken offline for a weekend. In addition, there would ran into liquidity problems at COINTED due to a fraud in the 6-digit range. Therefore, an office in Kufstein has already been closed in order to save money. Furthermore, Wolfgang THALER reports that he has given instructions to the responsible employee Daniil ORLOV to prepare a crypto-mining report. Otherwise, serious consequences for Mr ORLOV would be the result. That sounds more than a bit disturbing.
Allegedly, COINTED investors and customers will get their money back by selling Krypto-ATM’s and the Krypto-Exchange business. Many Krypto-ATM’s would have been sold over already over the last couple of weeks and thus liquidity would have been procured. It really seems to be very tight with the liquidity of COINTED and the funds of the investors and customers actually seem to be gone. Rather, COINTED must obviously sell (i.e. liquidate) its business in order to return (some of) the money to the investors or customers. Crypto-mining investors should not have been taken into account yet and it looks as if those crypto-mining investors, too, are in danger to lose their money.
The video message must rather be interpreted as a negative message to the investors and as an indication of a lack of a positive prognosis for survival. Anyway, COINTED as it has presented itself over the last 18 months no longer exists. It should not come as a surprise to FinTelegram readers that COINTED’s “transparency report” obviously was the fake we called it out. Allegedly there is hope for the ICO investors but Wolfgang THALER does not want to give details until sometime in the future. If we can take the message seriously, the only thing that could possibly left from COINTED is the ICO heritage in one way or the other with the support of Chinese investors.
Our conclusion in a nutshell: #RIP COINTED and more troubles to come for COINTED partners and consultants.