It has never been easier to become an investor, with multiple options available in the market – whether it is stocks, bonds, forex or even much more exoticly structured products. What product is the right fit for you depends on your personal risk appetite, your willingness to look the other way when markets turn against you, geographical exposure and so on. The financial crisis of 2008 was a good reminder that euphoric sentiment can turn in a blink of an eye and if you are not careful at managing your risk exposure, you risk not only wiping out the profits you made over time but in some cases even more than that.
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Such market conditions can also give rise to fraudulent market activity, as scammers prey on those looking to recover their losses by presenting ideas with high returns. There have been numerous cases over the years where regulators, alongside police investigators uncovered long running scams in seemingly legitimate financial schemes. One of the most prolific schemes in recent years was the Madoff investment scandal.
While the crypto market might still be in the early stages of development, there is nothing to prevent fraudsters and hackers to try and exploit vulnerabilities, both against investors and the technology networks which underpin the markets. Most recently, a Japanese exchange was subject to a malicious attack which resulted in a loss of $530 million USD in cryptocurrency (in what has been one of the biggest ever thefts of digital money). Although the exchange took steps to return the funds to users, other cases did not end so well at all. However, what if there was a solution to combat this?
The team behind Escroco has filled the gap in the marketplace with an innovative product that aims to connect investors with borrowers in a way that lowers risk and maximizes profit. The two-part platform allows borrowers to create investment packages before presenting it to the investors, while investors are then presented with verified investment packages. All sounds straightforward, but what happens when things go wrong?
The investor involved in such situation will still be compensated with the initial deposit of the borrower as well as other benefits from the platform, while the disclosure of borrower’s identity will be made if the investor shows interest in prosecuting or enhancing the trace. This then is a huge step forward in what is still perceived to be a very risky market for novice and even seasoned investors. While the regulators are yet to implement any measures to combat illicit activity, there is now a blockchain based solution for a real life crypto-based problem.
The Escroco (ESC) token was created using the Wave Blockchain technology, designed in the way that benefits investors and borrowers alike. Now, the team is announcing a cash airdrop (Escroco Cash Airdrop or ESA), where the new token will be worth $1 which the holders will get for free at the ratio of 4:1 (4 ESC get 1ESA). Only those who keep their coin on a waveswallet.io will be able to get the new coin and the date of the airdrop is to be between 15 Feb -25 Feb.