Loading...

Karratcoin token sale agreement sparks debate among investors

TL;DR

  • Investors allege contract breach by Karratcoin.
  • Legal issues cited for investment annulment.
  • Collective action considered to address concerns.

A group of investors has taken a new move in the form of their voicing their objection against Karratcoin’s purported unwillingness to adhere to their SAFT agreement under which the investment commitments were set out.

The investor side claims that despite taking such a step as launching the $KARRAT token, the company is proposing to nullify the SAFT agreement and pay back instead of performing according to the original investment terms.

Karratcoin’s legal action ahead of token launch

Investors  have alleged that Karratcoin notified its engaged investors of legal issues regarding the Non- listed securities one month before the token event as a pretext. However, this decision seems to contradict the company’s continued fundraising efforts, as evidenced by substantial transactions recorded on the Ethereum blockchain address.

Considering the current developments in which the investors are facing the issues with the Karratcoin, these customers are looking to build contact with people who are confronting the same situation.

The purpose is to have a conversation about possible collaborative activities and then look into the legal problems to find the best way to deal with this scenario. One of the investors, anonymous on social media, started a direct conversation with those affected through DM or contacted them privately.

Impacts on investors

Grappling with the inherent complexities of the existing issues, the investors will underline the necessity of receiving professional legal guidance. Legal affairs related to token sales and investment agreements need a long-and-wider study of the legal rules and regulations in order to navigate them properly.

Having an seasoned legal expert on board would be of great help to value and advocate for the investors that were impacted.While time goes on, this affair strikes much curiosity and hope for a successful resolution from the crypto community. On the other hand, open communication from Karratcoin and cautious attempts to liaise with the investors cooperatively may have an impact on the escalation of disagreements and litigation.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Share link:

Benson Mawira

Benson is a blockchain reporter who has delved into industry news, on-chain analysis, non-fungible tokens (NFTs), Artificial Intelligence (AI), etc.His area of expertise is the cryptocurrency markets, fundamental and technical analysis.With his insightful coverage of everything in Financial Technologies, Benson has garnered a global readership.

Most read

Loading Most Read articles...

Stay on top of crypto news, get daily updates in your inbox

Related News

starknet foundation
Cryptopolitan
Subscribe to CryptoPolitan