Bankrupt Cred Accused of Fraudulent Bitcoin Transfer to Crypto Whale

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Strong wound up pur­chas­ing a note from Income Oppor­tu­ni­ties by trans­fer­ring the 500 bit­coin he was lend­ing to Cre­dEarn. A few months lat­er, how­ev­er, in July 2020, after Cred was already on the road to bank­rupt­cy, Cred bought the note back from Strong for rough­ly 516 bit­coin. And then in Novem­ber, Cred filed for bank­rupt­cy, leav­ing most of its investors in the lurch but hav­ing com­pen­sat­ed one of its high-pro­file investors and consultants.

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