CryptoSolarTech will close and return the funds raised
The Spanish cryptocurrency project CryptoSolarTech reported that it will return the money raised in its Initial Coin Offer (ICO) during 2018
The project was consolidated as a startup for the construction of a digital coin mining farm in Malaga. The farm would use solar energy to mine crypto currencies such as bitcoin and ether dash in an ecological way. To make it an Initial Currency Offer (ICO) was made between the months of April and July 2018 with a token that was quoted at $ 0.05.
At the time the firm managed to raise 68 million dollars. However, members of the CryptoSolarTech (CST) project say they will return the funds to their holders in the next 60 days.
The company says that the decision to close the project and reimburse the assets is attributed to an unexpected change in their finances. Mainly because the capital firm Montbrun Private Capital requested the return of the 715,285,715 tokens, valued at more than 35 million dollars.
Similarly, the team argued that among the causes of the cessation of operations are also the strong slanders generated around those responsible for the initiative.
L.Sáenz
Source: Coincrispy
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