Crypto platform Freeway (FWT) has halted its services due to the bear market.
The platform took to Twitter to announce its decision, outlining that it would be halting some of its services due to 'unprecedented market volatility.'
While Freeway (FWT) investors are left with heavy bags, Crypto Twitter believes Freeway was planning an exit strategy all along.
Freeway (FWT) drops 80% after abandoning services
Freeway took to Twitter to announce its decision, stating that the firm will be 'halting its services due to unprecedented volatility in the foreign exchange and cryptocurrency markets in recent times.'
In a Twitter post published on October 23, 2022, the company further shared that it will be halting buys and deposits on its platform and will not move forward with its initial plan of purchasing supercharger simulations 'until their new strategies are implemented.'
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Furthermore, the platform later disclosed that it would redirect its resources to diversifying its asset base in order to manage exposure to future market fluctuations.
According to Freeway's website, 'superchargers' are simulations of popular crypto and fiat services that can be used within the freeway ecosystem. The platform offers 43% APY yields to investors who buy Freeway's 'superchargers'.
Freeway describes itself as a platform that embodies the elements of both traditional finance and DeFi to help deliver the best of both worlds to its investors.
Crypto investigator calls Freeway (FWT) a 'ponzi scheme'
Crypto Twitter sleuth FatMan was quick to notice a few cryptic anomalies in Freeway's recent announcement.
He later took to Twitter to point out the obvious gaps, adding that the platform has erased all the team members' names from its website.
He had earlier uploaded a tweet alerting his followers of a possible freeway ponzi scheme brewing after examining an array of large withdrawals being 'delayed' on the platform.
Fatman had also predicted that Freeway may soon crumble within the next few months, cautioning users to withdraw their funds before the firm's dramatic collapse.
In response to Freeway halting services on its platform, Freeway's native token, FWT, has plunged 80% and is trading at $0.001523 at press time.
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