Following investors’ lamentations in the pseudo-Mando token that scammed thousands of people of their hard-earned money, 17-year-old TikTok influencer Matt Lorion has apologized to investors for promoting the counterfeit token.
Lorion’s apology was contained in his newly uploaded Twitter video, where he claims to be unaware of the sinister agenda of Mando founders.
Mando Crypto Ends In Scam
It is disheartening that the digital token Lorin supported eventually turned out to be a pump-and-dump scam.
the tiktok teen investors are issuing apologies for getting their followers rugpulled on a star wars themed cryptocurrency pic.twitter.com/P9Y390WEWA
— cold (@coldhealing) March 31, 2021
Based on the huge social media presence and coverage of Lorion as a TikTok influencer, the anonymous developers of Mando token reportedly reached out to him to promote the digital asset, which attracted many investors to the digital currency.
Revealing his personal experience on the fraud, Lorion said,
“The other day I promoted a cryptocurrency named Mando, which… the developers pretty much scammed everyone, including me.”
While many investors lost their hard-earned money in investing in Mando tokens, Lorion explained that he was not spared as he lost $10,000 of the funds he invested.
It is to be noted that the website for the Mando cryptocurrency, which was registered a week ago, March 25, has become a shadow of itself with no relevant update on their website. Similarly, the pseudo-token has deleted its Twitter account. Now that investors have been duped, the whitepaper of the fake Mando token is believed to be unreliable.
Crypto Investors Asked To Perform Due Diligence
With the daily emergence of new tokens, investors, particularly early adopters, need to be cautious. Background checks should be conducted on any token before the investment is made.
Following this recent debacle, Lorion has explained that his management team will also get in touch with every developer before any digital promotion is done. Undoubtedly, this will eliminate the tendency of promoting counterfeit tokens. In the same vein, the whitepaper of the new token should be thoroughly cross-checked for verifiable claims.
Lorion has gone on to promote yet another digital coin called Elongate. While many people have since cast doubts on the new token due to their recent experience, the 17-Year-Old TikTok influencer maintains that it is far from it, adding that his management team has conducted necessary background checks and he is also directly involved in the project.
However, he enjoins potential investors to still carry out their research before investing.