Centra (CTR) On The Run: Have Good Days Arrived?
For the Centra Team and entire Centra community, these might be their darkest days yet. Centra (CTR) has gone through troubled waters since December 2017, after co-founders Soharb Sharma and Robert Farkas were charged by SEC.
Centra (CTR) Class Action Suit Continues
Back in December 2017, Centra was hit with a Class Action suit after a total of $32 million was raised through an ICO. Centra was sued not because the $32 million raised stands as the largest ever raised through an ICO, but because they raised that amount by selling “Unregistered Securities”, as a result, co-founders Soharb Sharma and Robert Farkas were charged by SEC.
SEC Halts On-Going Centra (CTR) ICO
The U.S Securities and Exchange Commissions has halted an ICO startup run by Centra. While Centra claims proceeds from the ICO would be used in developing products backed by Visa and MasterCard. However, SEC has reported that Centra holds no association with either card payment networks.
Co-founders Soharb Sharma and Robert Farkas are being charged by SEC for creating and selling false marketing materials. The duo has been arrested by law enforcement officers and are also charged with listing fictional executives as part of their official team. This is following their charges of a class action lawsuit in December 2017.
Centra (CTR) Price Picks Up Pace
Centra may be facing very rough times at the moment, but the price of CTR is receiving huge boosts. CTR fell by almost 70% after the scam scandal. At the time of this writing, CTR is up by almost 130% pushing the trading value of CTR up to $0.13.
Centra (CTR) has however lost in the market cap department, currently holding a market cap of about $9 million (USD) as compared to the surplus of $15 million (USD) it held as at April 3. As a result of market cap drop, Centra is now ranked 430 on the cryptocurrency ranking.
Centra Drops Easter Update
The Centra team seem to be functioning without co-founders Soharb Sharma and Robert Farkas. Centra Team announced the release of the all-new Beta version for both iOS and Android during the Easter holidays. At the end of Deconomy 2018, which was held in Seoul, South Korea, more announcements were made as to the finalization and imminent release of the full version.
Centra has attracted a lot of negative attention in the past couple of days, all relating to the “SCAM” pulled by the CEO, and the recent charges received by the Centra team from SEC. Most notably among the swarm of warnings is the announcement released by the number one cryptocurrency exchange platform, Binance.
On April 3, Binance saw it important to announce to its users and the entire crypto space of the high risk associated with buying the CTR token, due to controversies surrounding the digital asset, and the fraudulent acts of members of the Centra Team. The current spiking price of the Centra token (CTR) is not enough reason to invest in the asset at the moment. Centra has a red flag above it now.