Crypto Businessman Disappears as ‘First Greek Cryptocurrency’ Collapses

The one who used to be at the helm of the company within the encourage of what’s change into incessantly known as Greece’s first cryptocurrency has allegedly led to the coin’s imprint to sink as he disappeared this month. The manager used to be off the radar for approximately two weeks earlier than sooner or later telling the clicking he’ll soon return, rejecting accusations he has crashed the market of the crypto.

Hellenic Coin Plummets Amid Crypto Shoppers’ Worries About Whereabouts of Coin’s Creator

Vangelis Tsapas, any individual with various substitute pursuits and a sponsor of a basketball crew in Greece, upset investors in a cryptocurrency he created when he with out note vanished earlier in November. The price of Hellenic Coin (HNC) plunged as he modified into unavailable – from over $1.20 on Nov. 8, to below $0.34 at the time of writing. That’s after reaching its all-time high of $4.84 on June 14, 2021.

Crypto Businessman Disappears as ‘First Greek Cryptocurrency’ Collapses
Source: Coinmarketcap

Speculations emerged that Tsapas had sold his HNC stash causing the trot, an accusation he has denied. Before his contemporary resignation, the entrepreneur used to be the CEO of HNC Revolution, the company managing the coin which used to be launched by a crew of blockchain builders and finance consultants in 2015 as the “first Greek cryptocurrency,” the bogus data portal remembers. It used to be conceived both as an funding automobile and a worth instrument geared toward facilitating digital transactions for the Greek tourism substitute and has since been bought by folks from across the area.

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Crypto Businessman Disappears as ‘First Greek Cryptocurrency’ Collapses
Vangelis Tsapas, founder of Hellenic Coin. Source:

Whereas raising concerns amongst HNC Coin holders, his disappearance tremulous avid gamers and various workers at Ionikos Nikaias B.C. too, as he has been supporting the membership financially. Tsapas, who’s animated about catering and shipping as neatly, has additionally reportedly angered Qatar’s prime minister as his company hired to preserve watch over Sheikh Khalid bin Khalifa bin Abdulaziz Al Thani’s superyacht, Al Mirqab, failed to pay its crew their wages.

Despite the HNC Coin clearly initiating to lose imprint after Mr. Tsapas stopped answering his phone, he has not too long within the past rejected allegations he has led to the fall by promoting his money. Talking to the Proto Thema newspaper this week, the “phantom” businessman insisted he had in actual fact given away the Hellenic crypto at gratis, blamed his shut associates for the “noise” and supplied he’ll soon return to his substitute duties. Claiming media reports are had been to blame for the plummeting imprint, he insisted his absence didn’t play any position and mentioned:

It’s falling, loyal, whereby I, needless to claim, have not got any involvement. Because I even enjoy never sold a single cryptocurrency. I manufacture not enjoy any, on myth of I transferred every thing remaining Friday at gratis, as I even enjoy essentially the most though-provoking, with out taking a single euro.

Tsapas added he’s protecting talks with a brand new management crew to make particular the viability of the crypto. In the period in-between, HNC Coin’s new leadership has refuted him and educated the public that he isn’t heading the venture anymore. A released assertion emphasised that following the contemporary events, Tsapas isn’t any longer the CEO and isn’t animated about resolution-making in the case of the cryptocurrency’s operation and development.

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In the interview with Proto Thema, meant to “restore the truth,” Vangelis Tsapas cited “serious neatly being reasons” for his fast-term retreat out of Athens and public explore but he additionally mentioned he took the step on advice from his attorney. “By the arrangement, I even enjoy not been known as by a prosecutor for any reason,” Tsapas pointed out. The newsletter notes that Greek guidelines enforcement authorities had been discreetly monitoring traits within the case.

Tags on this epic

businessman, COIN, Crypto, crypto businessman, crypto entrepreneur, Cryptocurrencies, Cryptocurrency, disappearance, fall, Entrepreneur, Greece, Greek, Hellenic Coin, HNC, HNC Coin, Shoppers, market, Price, Tsapas, Worth, Vangelis Tsapas

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