Following FastBNB’s collapse a number of days in the past, proprietor Biman Das has put out an replace to appease traders.
Naturally Das’ replace is mindless.
Das’ replace went dwell earlier at this time and was offered by way of webinar. Becoming a member of Das on the webinar was US resident Brian Rhodes and another scammer.
After stealing hundreds of thousands via FastBNB, Das now has to dissuade traders from submitting complaints with authorities.
To that finish Das opened his replace by reassuring traders he “stand(s) robust on my half, and I stand motivated to construct my neighborhood”.
Addressing the elephant within the room, Das reframed FastBNB’s collapse because the smart-contract being “halted for a sure time period”.
It’s only a momentary halt to enhance ourself [sic] …
We stand robust. We stand extra robust. Our firm goes ahead with motivated approach.
Technological glitches has been mounted …
The smart-contract as we name it, has been halted for a number of days. And we’re checking it ahead … and we now have mounted the glitches and now we’re simply updating our smart-contract to go forward into the brand new journey.
FastBNB’s smart-contract hasn’t been halted. It was drained.
You’ll be able to confirm this your self on BSC Scan.
Biman does deal with the contract being drained however does so with extra crypto bro waffle.
Why did the smart-contract stability go down?
Primary, decrease BNB length. Larger fuel charges means decrease transaction being executed, therefore decrease liquidity being generated.
Which in flip means decrease BNB being generated to pay of dividends and seed incomes.
In different phrases, FastBNB withdrawals exceeded new funding.
I used to be stunned Biman bothered to elaborate on the “glitches” he claimed he’d mounted. Naturally they don’t make any sense both.
Biman claims FastBNB traders had been experiencing excessive fuel charges upon withdrawal.
You’ll be able to confirm your self that BSC fuel charges are literally down ~65% yr on yr:
Glitches or no glitches, there isn’t any “new journey” with the prevailing contract. It’s chalked.
What Biman is saying with out saying (as a result of that’d imply acknowledging FastBNB collapsed), is he’s going to reboot the Ponzi scheme with a brand new smart-contract.
Wanting ahead, Biman has requested for a “sure period of time” earlier than FastBNB’s new smart-contract is launched.
Biman claims the Ponzi scheme might be “again by subsequent week”.
Even this doesn’t make any sense.
Sensible-contracts are deployed with the push of a button. Once more, imaginary or in any other case, Biman claims he’s mounted FastBNB’s glitches.
So uh… why the delay?
No matter occurs FastBNB associates are staring down a lose-lose scenario.
Both there’s no reboot and hundreds of thousands in losses are realized. Or there’s a reboot, no matter funds Biman recycles again into the brand new contract, these are rapidly drained and FastBNB collapses once more.
Biman closes his replace by crapping on about “liquidity suppliers”. As a result of y’know, I’m positive they’ll’t wait to dump crypto right into a collapsed Ponzi scheme.
Nearly all of FastBNB associates are believed to be within the US and India.
Pending any FastBNB updates over the approaching week, keep tuned…
Replace twenty fifth April 2022 – Biman Das’ replace video has been deleted from YouTube. As such I’ve disabled the beforehand accessible hyperlink.
Exterior of there haven’t been any additional FastBNB updates.
Complete FastBNB investor losses are unknown. Alexa site visitors rankings counsel nearly all of FastBNB victims are in India, Italy and the US.