Over the past week, there has been a massive selloff of Skycoin tokens by token holders, triggering a crash in the price of the token.

It has been discovered that EVOLAB, the former marketing team of Skycoin China had stolen a whopping 100, 000 Skycoins since the past six months.

According to the Skycoin team, the Chinese Skycoin marketing that stole 100K Skycoin masterminded another attack on Synth and his family on June 13, 2018, and carted away with 18.88 bitcoin and 6,466 Skycoin tokens after holding them hostage for over six hours.
The bandits also attempted to steal the design framework of the project, but they could not succeed.

The Skycoin team claim the total number of Skycoin tokens stolen is yet to be ascertained, but they have made efforts to minimize the risk by notifying exchanges where the coin is listed to freeze the accounts of the criminals.

The team has also employed investigators to look into the matter and has hinted that they will update the community about their findings shortly.

Notably, the exchanges where Skycoin token is listed have told the team that the accounts of the suspected criminals have been frozen.

However, investors are still panic selling their tokens. At press time, the price of Skycoin has recovered by 30 percent, but it remains to be seen if the recovery will continue.

Official Verdict

Most of the social media handles of the Skycoin project were created by the former EVOLAB team. Therefore coin holders have been advised by the current team to stay abreast of happenings in the community by visiting only social media groups listed on the official Skycoin website www.skycoin.net, as that is where they can get reliable information for now.

The original links for the Skycoin project are listed below. Members are advised to remain calm and shun panic selling as the team is on top of the situation.
At a time of crisis, what the team needs the most is to remain united.

For more information visit https://www.skycoin.net/
Telegram Bounty: https://t.me/skycoinbounty
Whitepaper: https://www.skycoin.net/whitepapers/
Telegram: https://t.me/Skycoin
Twitter: https://twitter.com/skycoinproject
Email: [email protected]

The post SkyCoin previous China marketing team (EVOLAB) Embezzles 100,000 Skycoins, Causing Price Drop appeared first on ZyCrypto.