Fintoch alleged of stealing funds amounting to about $31.6 million

According to  ZachXBT, an on-chain detective, Fintoch, a crypto project, is expected to run away with about $32 million from its investor Morgan Stanley, an investment banking firm, stated Cointelegraph. 

“It appears the team behind the ponzi @DFintoch has likely exit scammed with 31.6m USDT on BSC after the funds were bridged to multiple addresses on Tron/Ethereum and people reported being unable to withdraw Fintoch advertised 1% daily ROI and claimed to be owned by Morgan Stanley,” ZachXBT tweeted. 

Sources revealed that the fund had mentioned contributing 1% interest daily from the users. Reportedly the users have complained of not being able to withdraw funds from Fintoch, Cointelegraph added. 

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Supposedly, Morgan Stanley, an investment banking company commented that they do not have any relation with the project. Furthermore, the firm mentioned that Fintoch used its trademarks without taking any permission and that they are not responsible for any kind of exchange with the company, Cointelegraph concluded.

(With insights from Cointelegraph)

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