Users of the Satowallet cryptocurrency wallet accused its developers of an exit scam and embezzlement of $ 1 million. CEO SEO Samuel Benedict claims that the provider is to blame for the loss of user funds, Finance Magnates reports .

In addition to the wallet, Satowallet provides cryptocurrency exchange services, and its services support more than 60 different cryptocurrencies, including Bitcoin, Litecoin, Bitcoin Cash and Ethereum. Satowallet is registered in Dubai, but the main audience is concentrated in Nigeria, where the parent office of Blockchain Tech Hub is located.

Problems with the display of funds on user accounts, and then with their withdrawal began in April against the background of news about the launch of the SatowalletEX exchange.

The wallet team claimed that the difficulties were due to the intervention of fraudsters who allegedly took advantage of the service update. Satowallet was assured that it fixed the problem.

However, withdrawal problems continued. Satowallet unexpectedly for many introduced the KYC procedure and stated the need to switch to manual transaction processing.

In August, users were not able to access Satowallet services. Samuel Benedict blamed the OVH provider for everything.

This past few weeks we have had series of issues beyond our immediate control, with regards to our data center providers (OVH) @OVH . Resulting into delayed and loss of transactions, we hope to get a possible response to resolve this ASAP.

– CEO Satowallet Exchange (@thesamuelben) August 10, 2019

At the same time, Satowallet’s Twitter account was blocked, and users began to complain about the lack of technical support and started talking about an exit scam.

It is a scam

– justice will be served (@ Greg27721094) September 18, 2019

After some time, the company said that it was able to resume services using a backup copy of the code. However, user balances were empty.

Satowallet blames OVH for everything. The provider claims that it was forced to suspend the services due to violations that it cannot explain.

Recall that the Chinese police have been investigating the activities of the alleged cryptocurrency pyramid PlusToken from the creators of the eponymous wallet for several months.

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