Crypto Project That Claimed to Offer 43% Returns Suddenly Halts Withdrawals
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Crypto Project That Claimed to Offer 43% Returns Suddenly Halts Withdrawals

Freeway had enticed users by claiming they could earn up to 43% annual rewards through things called "Superchargers" — simulations of major crypto and fiat currencies.

Crypto Project That Claimed to Offer 43% Returns Suddenly Halts Withdrawals

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Yet another crypto project has abruptly announced that it's halting withdrawals — following in the footsteps of Celsius Network and Voyager Digital.

Freeway had enticed users by claiming they could earn up to 43% annual rewards through things called "Superchargers" — simulations of major crypto and fiat currencies.

But the platform has now suspended its services in response to what it describes as "unprecedented" volatility in the markets.

In a statement on its website, Freeway said it was diversifying its asset base "to manage exposure to future market fluctuation and volatility, ensuring the long-term sustainability and profitability" of its ecosystem.

"While this process is ongoing, Freeway will be allocating capital to its underlying portfolio and this means for a temporary time we will not be buying Supercharger simulations until our new strategies are implemented."

And in a sign that Freeway users could end up facing a prolonged period of uncertainty, the company added that it wouldn't be commenting further until this "process" was complete.

The value of Freeway Token has fallen off a cliff since the news emerged. A week ago, it was trading at $0.0075, but the latest CoinMarketCap data shows it's plunged 81% to $0.0014.

All of this serves as the latest cautionary tale that if something looks too good to be true, it almost certainly is.

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