The Freeway crypto rewards platform promised users up to 40% APY, then halted withdrawals on October 23, 2022, citing 'market fluctuations.'
A Crypto Rewards Platform That Promised 40% APY Halts Withdrawals, Citing ‘Market Fluctuations’
A crypto rewards platform called Freeway.io has notified users that it decided to reallocate capital in order to “manage exposure to future market fluctuations and volatility.” In doing so, users are unable to withdraw funds from the platform, and the Freeway team explained that amid the reallocation process, the team could not comment further.The crypto community is dealing with another rewards platform that has decided to halt withdrawals amid a decision to reallocate funds.
Freeway.io’s native crypto asset freeway slid more than 72% lower against the U.S. dollar on Sunday evening into Monday morning . The Freeway crypto rewards platform promised users up to 40% annual percentage yield on “Supercharger” accounts. Interestingly, just before the rewards platform published its notice to customers on October 23, the day before, the crypto whistleblower known as “Fatman” warned clients to withdraw from the rewards platform immediately.
“If anyone has funds in crypto yield platform Freeway, I would suggest withdrawing right away,” FatmanI believe they are operating a Ponzi scheme. In my opinion, it’s likely that Freeway will collapse within the next few months and that all depositors will lose everything.The Freeway team never explained when the platform will be fully operational again, and it further noted that “while we complete this process, we cannot comment further beyond this statement.