Following FastBNB’s collapse a few days ago, owner Biman Das has put out an update to appease investors.
Naturally Das’ update makes no sense.
Das’ update went live earlier today and was presented via webinar. Joining Das on the webinar was US resident Brian Rhodes and some other scammer.
After stealing millions through FastBNB, Das now has to dissuade investors from filing complaints with authorities.
To that end Das opened his update by reassuring investors he “stand(s) strong on my part, and I stand motivated to build my community”.
Addressing the elephant in the room, Das reframed FastBNB’s collapse as the smart-contract being “halted for a certain period of time”.
It’s just a temporary halt to improve ourself [sic] …
We stand strong. We stand more strong. Our company is going forward with motivated way.
Technological glitches has been fixed …
The smart-contract as we call it, has been halted for a few days. And we are checking it forward … and we have fixed the glitches and now we are just updating our smart-contract to go ahead into the new journey.
FastBNB’s smart-contract hasn’t been halted. It was drained.
You can verify this yourself on BSC Scan.
Biman does address the contract being drained but does so with more crypto bro waffle.
Why did the smart-contract balance go down?
Number one, lower BNB duration. Higher gas fees means lower transaction being executed, hence lower liquidity being generated.
Which in turn means lower BNB being generated to pay of dividends and seed incomes.
In other words, FastBNB withdrawals exceeded new investment.
I was surprised Biman bothered to elaborate on the “glitches” he claimed he’d fixed. Naturally they don’t make any sense either.
Biman claims FastBNB investors were experiencing high gas fees upon withdrawal.
You can verify yourself that BSC gas fees are actually down ~65% year on year:
Glitches or no glitches, there is no “new journey” with the existing contract. It’s chalked.
What Biman is saying without saying (because that’d mean acknowledging FastBNB collapsed), is he’s going to reboot the Ponzi scheme with a new smart-contract.
Looking forward, Biman has asked for a “certain amount of time” before FastBNB’s new smart-contract is launched.
Biman claims the Ponzi scheme will be “back by next week”.
Even this doesn’t make any sense.
Smart-contracts are deployed with the push of a button. Again, imaginary or otherwise, Biman claims he’s fixed FastBNB’s glitches.
So uh… why the delay?
Whatever happens FastBNB affiliates are staring down a lose-lose situation.
Either there’s no reboot and millions in losses are realized. Or there’s a reboot, whatever funds Biman recycles back into the new contract, these are quickly drained and FastBNB collapses again.
Biman closes his update by crapping on about “liquidity providers”. Because y’know, I’m sure they can’t wait to dump crypto into a collapsed Ponzi scheme.
The majority of FastBNB affiliates are believed to be in the US and India.
Pending any FastBNB updates over the coming week, stay tuned…
Update 25th April 2022 – Biman Das’ update video has been deleted from YouTube. As such I’ve disabled the previously accessible link.
Outside of there haven’t been any further FastBNB updates.
Total FastBNB investor losses are unknown. Alexa traffic rankings suggest the majority of FastBNB victims are in India, Italy and the US.