Crypto Businessman Disappears As ‘First Greek Cryptocurrency’ Crashes – Bitcoin Information

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The person who ran the corporate behind what has turn into Greece’s first cryptocurrency is claimed to have pushed the coin’s value down because it vanished this month. The manager was off the radar for about two weeks earlier than lastly telling the press he could be again quickly, dismissing accusations he introduced down the crypto market.

Hellenic coin crumbles amid issues of crypto buyers over the whereabouts of the coin’s creator

Vangelis Tsapas, an individual with numerous enterprise pursuits and a sponsor of a basketball group in Greece, shocked buyers in a cryptocurrency he created when he out of the blue disappeared earlier in November. The value of the Hellenic coin (HNC) dipped because it went unavailable – from over $ 1.20 on November 8 to underneath $ 0.34 on the time of writing. That is after hitting its all-time excessive of $ 4.84 on June 14, 2021.

Crypto businessman disappears as 'Greece's first cryptocurrency' collapses
Supply: Coinmarketcap

Hypothesis emerged that Tsapas offered his inventory of HNCs, inflicting the disaster, a cost he denied. Previous to his current resignation, the entrepreneur was the CEO of HNC Revolution, the corporate managing the coin which was launched by a gaggle of blockchain builders and monetary specialists in 2015 as “Greece’s first cryptocurrency,” remembers the business info portal It was designed as each an funding car and a fee instrument to facilitate digital transactions for the Greek tourism business and has since been bought by folks all around the world.

Crypto businessman disappears as 'Greece's first cryptocurrency' collapses
Vangelis Tsapas, founding father of Hellenic Coin. Supply:

Whereas elevating issues amongst HNC coin holders, his disappearance additionally alarmed gamers and different workers at Ionikos Nikaias BC as he financially helps the membership. Tsapas, who can also be concerned in catering and transport, additionally reportedly angered the Prime Minister of Qatar as his firm employed to handle Sheikh Khalid bin Khalifa bin Abdulaziz Al Thani’s superyacht Al Mirqab failed paid his crew.

Though the HNC coin is clearly beginning to lose worth after Mr Tsapas stopped answering his cellphone, he lately dismissed claims that he prompted the drop by promoting his cash. Talking to Thema newspaper this week, the “ghost” businessman insisted he had in truth given away the Hellenic crypto without cost, blamed his shut associates for the “noise” and introduced that he would quickly return to his commerce obligations. Claiming that media experiences had been liable for the drop in costs, he insisted his absence performed no position and mentioned:

It is falling, is not it, wherein I’ve, after all, no involvement. As a result of I’ve by no means offered a single cryptocurrency. I haven’t got one, as a result of I transferred every little thing final Friday without cost, as I’ve the correct, with out taking a single euro.

Tsapas added that he was in talks with a brand new administration group to make sure the crypto’s viability. In the meantime, the present administration of HNC Coin has refuted it and knowledgeable the general public that it’s now not working the venture. A launched assertion identified that on account of current occasions, Tsapas is now not the CEO and isn’t concerned in decision-making concerning the operation and improvement of the cryptocurrency.

Within the interview with Thema, supposed to “set the report straight”, Vangelis Tsapas cited “critical well being causes” for his short-term withdrawal from Athens and from public view, however he additionally mentioned he had crossed not on the recommendation of his lawyer. “By the way in which, I used to be not referred to as by a prosecutor for any motive,” Tsapas mentioned. The publication notes that Greek legislation enforcement authorities are quietly monitoring the progress of the case.

Tags on this story

businessman, COIN, Crypto, crypto businessman, crypto entrepreneur, Cryptocurrencies, Cryptocurrency, disappearance, drop, Entrepreneur, Greece, Greek, Hellenic coin, HNC, HNC coin, Traders, market, Worth, Tsapas, Worth, Vangelis Tsapas

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Picture credit: Shutterstock, Pixabay, Wiki Commons


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