Nearly $109M in Yotta (YC S20) customer deposits vanishcnbc.com 36 pointssegasaturn1 year ago5 commentsSaveHideCopy link On HNComments−sureglymop1yCan anyone explain what the Yotta app actually is? From a quick glance it looks to be a gambling app.−segasaturnOP1yThey claimed to be a bank (savings account) that would give users free lottery tickets for saving money on their app. After freezing customer assets on the app, they pivoted to gambling. Customer funds are still frozen last I checked.Their launch HN thread here: https://news.ycombinator.com/item?id=23780062Coffeezilla has a good video exposing the fraud: https://www.youtube.com/watch?v=bBUkajbg688−cko1yPublished Fri, Jun 21 2024 11:23 AM EDT Updated Fri, Jun 21 2024 5:13 PM EDT−danielscrubs1yThey moved fast and broke things?−ycombinatrix1yI don't think it worked in the first place
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Can anyone explain what the Yotta app actually is? From a quick glance it looks to be a gambling app.
They claimed to be a bank (savings account) that would give users free lottery tickets for saving money on their app. After freezing customer assets on the app, they pivoted to gambling. Customer funds are still frozen last I checked.
Their launch HN thread here: https://news.ycombinator.com/item?id=23780062
Coffeezilla has a good video exposing the fraud: https://www.youtube.com/watch?v=bBUkajbg688
Published Fri, Jun 21 2024 11:23 AM EDT Updated Fri, Jun 21 2024 5:13 PM EDT
They moved fast and broke things?
I don't think it worked in the first place