The CEO of a cryptocurrency mining startup has apparently disappeared with $ 35 million of client investments, reports Newsweek.
Le Minh Tam, head of Sky Mining based in Vietnam, has disappeared since July 26, according to the report. The startup, which claimed to sell cryptographic miners to investors between $ 100 and $ 5,000, received funds from about 5,000 people before Tam's disappearance last week. Each miner promised a yield of 300% over a year, with investors maintaining the machines for at least 15 and up to 18 months.
However, when a group of investors went to collect their miners last Friday, they discovered that the plant and the company's extraction office were empty and that the mining machines had already been brought Street. According to reports, Tam said he sold them to cover financial losses and that his death was intended to protect his life.
He sent a similar message on Sunday, claiming he would be back, but Sky Mining vice president Le Minh Hieu claimed the CEO stole funds and moved to the United States
Some investors have already taken legal action towards the company, even if it is not clear whether they will receive their funds.
Vietnamese newspaper VnExpress reported that Tam controlled every aspect of the company, overseeing all mining operations and checking all funds.
Hieu said he tried to set up a temporary council to run the company in the absence of Tam, but death threats against him and his family forced him to close it.  Thief image via Shutterstock