HomeCryptoCrypto businessman disappears as a result of collapse of 'first Greek cryptocurrency'...

Crypto businessman disappears as a result of collapse of ‘first Greek cryptocurrency’ – bitcoin information

The person who was on the helm of what grew to become often known as Greece’s first cryptocurrency allegedly drove the worth of the coin down as he disappeared this month. The chief government was out of sight for about two weeks earlier than lastly telling the press that he could be again quickly, denying accusations that he had introduced down the cryptocurrency market.

Hellenic Coin Drops Amid Crypto Buyers’ Fears About Coin Creator Whereabouts

Vangelis Tsapas, a person with numerous enterprise pursuits and sponsor of a basketball staff in Greece, grieved traders with the cryptocurrency he created when he all of a sudden disappeared in early November. Hellenic Coin (HNC) value plummeted when it grew to become unavailable – from over $ 1.20 on Nov 8 to underneath $ 0.34 on the time of writing. That is after hitting an all-time excessive of $ 4.84 on June 14, 2021.

Crypto businessman disappears due to the collapse of the'first Greek cryptocurrency'
Supply: Coinmarketcap

There have been speculations that Tsapas bought his stash to HNC, sparking a recession, an accusation he denies. Earlier than his latest retirement, the entrepreneur was the CEO of HNC Revolution, the corporate that operates the coin, which was launched by the blockchain group and monetary consultants in 2015 because the “first Greek cryptocurrency,” remembers enterprise information portal Newmoney.gr. It was conceived as an funding and fee instrument geared toward simplifying digital transactions for the Greek tourism trade and has since been purchased by individuals from all around the world.

Crypto businessman disappears due to the collapse of the'first Greek cryptocurrency'
Vangelis Tsapas, founding father of Hellenic Coin. Supply: Newmoney.gr

Whereas inflicting concern for HNC Coin holders, his disappearance alarmed gamers and different Ionicos Nikayas staff as he supplied monetary assist to the membership. Tsapas, who additionally handles catering and supply, additionally reportedly angered the Qatari prime minister as a result of his firm, employed to function Sheikh Khalid bin Khalifa bin Abdel Aziz Al Thani’s superyacht, Al Mirqab, didn’t pay her crew salaries.

Even though HNC Coin has clearly began to lose worth after Mr. Tsapas stopped answering telephone calls, he not too long ago denied accusations that he brought about the autumn by promoting his cash. Talking this week in Thema newspaper, the “phantom” businessman insisted that he truly gave the Greek cryptocurrency totally free, blamed his closest associates for the “noise” and introduced that he would quickly return to his enterprise obligations. Claiming that media studies had been the explanation for the sharp drop in costs, he insisted that his absence had performed no function, and said:

It is a fall, sure, by which I, after all, don’t take part. As a result of I’ve by no means bought any cryptocurrency. I don’t, as a result of final Friday I transferred all the pieces totally free, as I’ve the precise, with out taking a single euro.

Tsapas added that he’s in talks with a brand new administration staff to make sure the viability of the cryptocurrency. In the meantime, the present administration of HNC Coin has denied him and knowledgeable the general public that he’s now not main the undertaking. The launched assertion emphasizes that after the latest occasions, Tsapas is now not the CEO and isn’t concerned in selections concerning the operation and improvement of the cryptocurrency.

In an interview with Tema, designed to “restore the reality,” Vangelis Tsapas cited “severe well being issues” for his short-term retreat from Athens and the general public, however he additionally mentioned he took the step on the recommendation of his lawyer. “By the best way, the prosecutor’s workplace didn’t summon me for any purpose,” Tsapas mentioned. The publication notes that the Greek regulation enforcement companies are quietly monitoring the event of the case.

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COIN, Crypto, Crypto businessman, Crypto entrepreneur, Cryptocurrencies, Cryptocurrency, disappearance, fall, Entrepreneur, Greece, Greek, Greece coin, HNC, HNC coin, Buyers, market, Worth, Tsapas, Worth, Vangelis Tsapas, businessman

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Picture credit: Shutterstock, Pixabay, Wiki Commons

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