The Blockchain Terminal wasn't a crypto answer to the Bloomberg Terminal, it was a massive scam
It was a scam.
An epic scam. Shaun MacDonald didn't even exist. He was a convicted fraudster named Boaz Manor who had been given a four-year prison sentence for misappropriating $106 million from a hedge fund.
One of the investors was Ran Neu-Ner who was a regular on CNBC's Power Lunch and reportedly lost $1.2 million (he says it was 'north of $300,000).
As usual, the sub-Reddit is a tragedy:
"All the money is gone. I was told they spent it before the ICO was over. Some people were paid a million dollars for less than 3 months work. The whole team quit. Theres no product, now money, no team. Go homeguys its over," one user writes.