I woke up to a notification on my phone that left me feeling sick to my stomach. The crypto-wallet company I had invested in, TenX, was facing accusations of insider trading by its co-founder and former CEO Julian Hosp. The worst part? I was one of the many victims of his alleged dump of $2.2 million worth of PAY tokens.
As a 24-year-old entrepreneur, I was relatively new to the world of crypto investment. But with all the buzz surrounding it, I couldn’t resist jumping on the bandwagon. TenX seemed like the perfect company to invest in – it was based in Singapore, had a solid team, and promised to revolutionize the way we use cryptocurrencies.
So, I purchased a large sum of PAY tokens, convinced that this was going to be my ticket to financial freedom. I even recommended TenX to my friends and family, telling them how great the company was and how much they should invest too.
But now, all of that seemed like a big mistake. The dump led by Hosp had caused a strong selling sentiment that made the PAY/USD rate drop by 46.5% in the last 15 days and 20% over the previous seven days. As a result, I had lost half of the value of my investment, pretty much everything I had deposited.
It was really really frustrating, wondering how this could happen. I did my research before investing, but I couldn’t have predicted this. It was devastating to see all my hard-earned money disappear in an instant.
I was searching to recover my lost fund from TenX. A reporting website named Report Scammed Bitcoin responded to my report filling on their website and provided me with a free consultation.
They described TenX’s past history and unethical trading policies. Also, they showed me how TenX used their fake customer review to lure people. They suggested reading the detailed review of TenX from their broker review section.
I later found out that TenX had a history of controversy. Its co-founder had already left the company before, and there were rumors of financial mismanagement and lack of transparency. It became clear to me that TenX was not the company I thought it was.
Looking back, I realize that I had been blinded by the promise of easy money and the fear of missing out on the next big thing. I should have been more careful and done more research before investing. But it was a hard lesson learned, and I would never make the same mistake again.
I read all of their broker review and their blogs. They were really informative to help new traders to take decisions carefully. Especially their guides are really amazing for newbies.
After all, I was lucky only to lose half of my investment. Some people lost everything they had invested in TenX. It was a harsh reminder that the world of crypto investment can be unpredictable and unforgiving. But I refused to let this setback stop me from pursuing my dreams. I learned from my mistake, moved on, and continued to work hard towards my goals.
After the incident with TenX, I became more cautious in his investment decisions. He learned to extensively research companies and their founders before investing his hard-earned money. He also started diversifying his investments, not just in crypto but in other types of assets as well.
I’ve decided to use multiple platforms as an entrepreneur and investor to warn others about the dangers of insider trading and to encourage transparency in the industry. I really believe that education and awareness were the keys to preventing others from falling victim to scams like the one I and other victims experienced with TenX.