The founder and co-CEO of one of the largest and most popular ICO projects of 2018 – Sirin Labs, has reportedly fallen victim to a scam which involves Bitcoin and Grin.

Unfortunate Circumstances: Sirin Labs Scammed

Popular blockchain entrepreneur and owner of local football club in Jerusalem – Moshe Hogeg, has been scammed out of ‘significant’ amount of Bitcoin, Globes media reports.

The local media cites a Facebook post by the founder of Sirin Labs, which describes how the entire thing went down.

According to the post, Hogeg attempted to acquire a large amount of Grin tokens using an over-the-counter exchange service. He would use Bitcoin (BTC) to purchase the Grin.

As soon as he had found a reliable seller – a Grin miner, he established a connection through Telegram’s messenger.

Purportedly, Hogeg was recommended to the seller by a trusted third party. As means of additional precautions, he also asked for the seller to send him some Grin in advance, in order to verify that he’s actually holding any. As soon as this happened, Hogeg sent him the undisclosed amount of Bitcoin to complete the transaction.

This is where things went south. Once Hogeg had sent the BTC, both the seller and the trustee vanished into thin air.

According to the Israeli media, Hogeg is currently consulting his next steps with his lawyer.

About Sirin Labs

Sirin Labs is a popular ICO project which managed to raise a total of $150 million through its fundraising event.

More notably, the company was heavily endorsed by Barcelona’s Lionel Messi.

The project aims to build blockchain-based smartphones and it has recently opened its first store in London.

The event highlights the importance of staying protected. My Bitcoin News recently reported that New Zealand’s cryptocurrency exchange Cryptopia was hacked.

What are your thoughts on Sirin Labs founder being hacked? Drop a line in the comments below!

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