Home Business Crypto Businessman Disappears as ‘First Greek Cryptocurrency’ Collapses

Crypto Businessman Disappears as ‘First Greek Cryptocurrency’ Collapses

by Mikael Harris
2 views
Crypto Businessman Disappears as ‘First Greek Cryptocurrency’ Collapses

The man who was at the helm of the company behind what’s become known as Greece’s first cryptocurrency has allegedly caused the coin’s price to sink as he disappeared this month. The executive was off the radar for about two weeks before finally telling the press he will soon return, rejecting accusations he has crashed the market of the crypto.

Hellenic Coin Plummets Amid Crypto Investors’ Worries About Whereabouts of Coin’s Creator

Vangelis Tsapas, someone with various business interests and a sponsor of a basketball team in Greece, upset investors in a cryptocurrency he created when he suddenly vanished earlier in November. The price of Hellenic Coin (HNC) plunged as he became unavailable – from over $1.20 on Nov. 8, to under $0.34 at the time of writing. That’s after reaching its all-time high of $4.84 on June 14, 2021.

Source: Coinmarketcap

Speculations emerged that Tsapas had sold his HNC stash causing the slump, an accusation he has denied. Before his recent resignation, the entrepreneur was the CEO of HNC Revolution, the company managing the coin which was launched by a group of blockchain developers and finance experts in 2015 as the “first Greek cryptocurrency,” the business news portal Newmoney.gr recalls. It was conceived both as an investment vehicle and a payment instrument aimed at facilitating digital transactions for the Greek tourism industry and has since been bought by people from around the world.

Vangelis Tsapas, founder of Hellenic Coin. Source: Newmoney.gr

While raising concerns among HNC Coin holders, his disappearance alarmed players and other staff at Ionikos Nikaias B.C. too, as he has been supporting the club financially. Tsapas, who is involved in catering and shipping as well, has also reportedly angered Qatar’s prime minister as his company hired to manage Sheikh Khalid bin Khalifa bin Abdulaziz Al Thani’s superyacht, Al Mirqab, failed to pay its crew their wages.

Despite the HNC Coin clearly starting to lose value after Mr. Tsapas stopped answering his phone, he has recently rejected allegations he has caused the drop by selling his coins. Speaking to the Proto Thema newspaper this week, the “phantom” businessman insisted he had actually given away the Hellenic crypto for free, blamed his close associates for the “noise” and announced he will soon return to his business obligations. Claiming media reports are were responsible for the plummeting price, he insisted his absence didn’t play any role and stated:

It’s falling, right, in which I, of course, have no involvement. Because I have never sold a single cryptocurrency. I do not have any, because I transferred everything last Friday for free, as I have the right, without taking a single euro.

Tsapas added he’s holding talks with a new management team to ensure the viability of the crypto. Meanwhile, HNC Coin’s current leadership has refuted him and informed the public that he is not heading the project anymore. A released statement emphasized that following the recent events, Tsapas is no longer the CEO and is not involved in decision-making regarding the cryptocurrency’s operation and development.

In the interview with Proto Thema, meant to “restore the truth,” Vangelis Tsapas cited “serious health reasons” for his temporary retreat out of Athens and public sight but he also said he took the step on advice from his lawyer. “By the way, I have not been called by a prosecutor for any reason,” Tsapas pointed out. The publication notes that Greek law enforcement authorities have been discreetly monitoring developments in the case.

Tags in this story

businessman, COIN, Crypto, crypto businessman, crypto entrepreneur, Cryptocurrencies, Cryptocurrency, disappearance, drop, Entrepreneur, Greece, Greek, Hellenic Coin, HNC, HNC Coin, Investors, market, Price, Tsapas, Value, Vangelis Tsapas

What do you think will be the fate of Greece’s first cryptocurrency and its creator? Tell us in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Source : Bitcoin.com

Related Articles

Leave a Comment

* By using this form you agree with the storage and handling of your data by this website.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

NEWS7.ASIA :Crypto Businessman Disappears as ‘First Greek Cryptocurrency’ Collapses
https://respectologie.fr   https://footballnfljerseyscheap.com   https://lamaisondurasage.fr   https://footetimes.com   https://foot.biz  
--
Fisher-Price Deluxe Cradle ‘n Swing, amis de la jungle par Fisher-Price *  Leif Nelson pour des Hommes Cardigan LN20225 *  John Xavier Obituary (2021) – Wappingers Falls, NY – Legacy Remembers *  MeaMae Care Rideau Lumineux, Guirlande Lumineuse 300LED 3M*3M, 8 Modes d’Eclairage, Décoration Intérieur et Extérieur… *  Mallalah Brosse Anti Poils Rouleau Ramasse Poils Polyvalent Nettoyant pour Poils Enlève Poils Magique pour Chat Chien Animaux de Compagnie *  * Under Armour Charged Impulse, Chaussure de Course Femme *  sockenkauf24 2 Paires Chaussettes de Ski/Snowboard Homme Femme Respirant Chaussettes au Genou *  https://femmes.fringues.biz   https://parisolympic2024.com   https://echaussures.net   https://36x.biz   https://news168.co.uk   https://www.unmaillotdebain.com/   https://www.mode.co.com   https://well-come-home.com   https://www.lopera.org   https://dasportsnews.com   https://www.chaussureprofile.com   https://www.internet-encyclopedia.info   https://www.megajouet.com   https://www.omyoga.eu   Crypto Businessman Disappears as ‘First Greek Cryptocurrency’ Collapses : news7

news7.asia Crypto Businessman Disappears as ‘First Greek Cryptocurrency’ Collapses