RChain Informs It Suffered A Scam After Accepting Counterfeit Money For RHOC Tokens


RChain Informs It Suffered A Scam After Accepting Counterfeit Money

The blockchain company RChain has recently informed that it experienced an attack resulting in the loss of an undisclosed number of RHOC tokens. The information was released by The Block a few hours ago.

RChain Scammed By Fraudsters

There have been many scams and fraudulent schemes in the cryptocurrency market. When the Initial Coin Offering (ICO) craziness reached its highest point in December 2017 and January 2018, different projects stole users’ funds by claiming to be a legitimate ICO and running away with the funds gathered. This created several losses for retail investors from all over the world.

This time is different, the blockchain company RChain informed it has been attacked and that it lost an undisclosed number of RHOC tokens. The company said that scammers put counterfeit money into escrow and the company sent them RHOC coins.

In a recent Reddit post, the CEO Greg Meredith had overseen the trade and told community members that “somewhere along this process someone dropped the ball,” according to The Block.

The firm says that they have alerted authorities in the United States. The wallet of the hacker has already been blocked. That means that the funds cannot be moved from this address.

RChain is a cooperative building a blockchain platform and social coordination technologies that address the greatest problems that the world is currently facing.

At the time of writing, RHOC is falling 7.72% reaching the 282nd position in the market. The market capitalization of this digital asset is currently $10.6 million and each coin can be purchased for $0.0284 according to CoinMarketCap.

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