Plastc swipes $9m and vanishes

Discussion in 'Security News' started by Spawn, Apr 21, 2017.

  1. Spawn

    Spawn Administrator
    Staff Member Content Creator

    Jan 8, 2011
    What a cop-out. Don't promise, if you cannot deliver. They should be investigated, because $9 million is a lot of lost money..

    "Plastc launched in 2014 with the promise of shipping a single card that could digitally hold 20 credit or debit cards that a user could switch between. The company raised more than $9 million through preorders, and today, after shipping to no backers, the company said it’s planning to file for bankruptcy and will shut down.

    With that, all backers’ money is lost, and no Plastc cards will ship. Plastc announced the news on its website today along with the fact that all its employees have been laid off. Its customer care and social media channels have also been shut down."
    BoraMurdar and frogboy like this.
  2. jogs

    jogs Level 11

    Nov 19, 2012
    Ponzi Scheme. :mad::mad:
    frogboy likes this.