Linqto Freezes Accounts: John Deaton Warns Investors Could Lose $120K+ in Profits
2025-06-30 15:23:02
Main Idea
Linqto has frozen investor accounts, potentially causing significant financial losses, while facing internal turmoil and legal issues.
Key Points
1. John Deaton highlighted that his $30,000 investment in Circle through Linqto appreciated to $157,000, but refunds based on initial capital could result in a $120,000 loss.
2. Linqto users are frustrated over frozen accounts and a new KYC process, with no communication from the company.
3. Linqto is undergoing internal restructuring, including a CEO change and legal issues, such as a lawsuit accusing the company of market manipulation and fraud.
4. Investors suspect mismanagement, with profitable ventures like Ripple and Circle potentially being unfairly lumped into refund plans meant for failed investments.
5. Deaton and other investors are organizing to discuss next steps, as Linqto faces scrutiny from over 14,000 users.
Description
Prominent XRP advocate and attorney, John Deaton, has raised serious concerns over Linqto’s proposed refund strategies following the platform’s abrupt account freezes earlier this year. Deaton warned that investors may lose substantial profits if Linqto returns only the original investment amounts, disregarding the earnings from successful pre-IPO assets like Circle and Ripple. Linqto Refund Plans Would Not Favor Investors In his X post, Deaton emphasized the danger of such a move. He revealed t...
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