Good evening.

Well I don't want to be that person that writes about all the bad projects or the rug pulls but as I have said before, this is as much about our crypto journey as it is about reading and writing about crypto, so here it is.

Stablefund the AI trading bot has frozen all deposits and withdrawals. It looks as though there was a looping problem with the matic contract, and although they said it would be fixed by the 26th it looks as though there were massive withdrawals from all of the contracts. It has been stated that it was $700,000 in just 3 hours so the stablefund team decided to withdraw the rest to protect investors.

They have a plan to refund investors their original deposits. (not including any profits compounded, but it will refund any further deposits). They have stated the timeframe for the withdrawals.

How and when will I be getting my refund?

You don't have to do anything to get your refund. We are currently running that script at the back end, which will calculate the original invested capital for each wallet and refund the amount automatically back into the same wallet. It does not matter which wallet type you used to invest in Stable Fund (ledger, Stable Fund wallet, Metamask, etc.), the original wallet used to stake will be refunded.

 

There are over three million transactions on the contract, so we expect the scripts to finish running by the 31st of Oct. Once the script is done, we will start issuing the refunds. Kindly allow us a four to six-week time frame for everyone. Remember, we have to refund over 25,000 investors.

Stablefund has stated that this is not the end for them as they had only had 3 days without making profits since they started but that for their version 2 there will be strict guidelines investors will have to meet including possibly interviews! They will only allow serious and valuable members in.

I must admit I was loving this project as we were getting our 1.5% per day and as we had only a small amount in there we were just compounding. Again I must learn to take profits, even if it is only a small amount as it is not a profit untill you take it out!

This has not been the only project in the last few days to halt withdrawals, Freeway and Wealth Mountain have both been potentially rugged or failed. 

As always thank you for reading and please feel free to comment.

Image from https://pixabay.com/roszie