The abrupt closure of the Solesbot cryptocurrency platform has generated a wave of discontent among its users in Venezuela and has raised serious concerns within the crypto community. Solesbot, which had been promoted as an innovative tool for the trading automated cryptocurrency exchange, announced a significant outage on June 16, citing “operational issues.” However, the lack of details and the prolonged suspension of service have raised suspicions of a possible Ponzi scheme.
Solesbot quickly gained the trust of many Venezuelan investors due to its promises of high returns and its artificial intelligence-based technology. The platform offered the possibility of carrying out complex operations without human intervention, taking advantage of the volatility of the cryptocurrency market to obtain significant profits. On the other hand, this recent interruption has unleashed a storm of criticism and accusations on social networks.
Solesbot closure: Chronicle of a death foretold?
Several users have reported significant losses due to the inability to access their accounts during Solesbot downtime.
Complaints range from a lack of clear communication by the company to more serious suspicions of fraud. “Today we wake up in mourning, gentlemen (solesbot has died),” said Javier Vargas through his account on X (formerly Twitter).
The situation has been exacerbated by allegations that Solesbot could be a Ponzi scheme, where funds from new investors are used to pay older users, creating an appearance of profitability that is not sustainable in the long term.
Some analysts suggest that the closure of Solesbot is a warning sign about a bubble in the cryptocurrency sector in Venezuela, especially in platforms that promise high returns with little transparency. The community reaction has been energetic and varied.
“We are currently undergoing maintenance due to operational issues with our partners. Temporarily, we are unable to continue our regular operations. We appreciate your understanding,” reads the official Solesbot page.
Read more: What is a rug pull and how to avoid this type of scam?
Users have turned to social networks to report and warn about what is currently happening. Messages of criticism and disappointment dominate the trends in Venezuela.
“The Solesbot mega ponzi reported on social networks fell, the CEO deactivated the comments on his Instagram,” denounced Lucianofinanzas.
Alerts against similar situations
The discontent in Venezuela is palpable, with many investors feeling cheated and frustrated by the situation. Social networks are flooded with testimonies and discussions, with users demanding explanations and measures to recover their investments.
“Let this episode serve as a stern reminder: there are no shortcuts to financial success. Diligence, education and hard work are the pillars upon which sustainable wealth is built. What seems easy and effortless almost always turns out to be an ephemeral illusion, a house of cards ready to collapse at the slightest whiff of reality,” said Juan Blanco Bracamonte, CEO of BitData.
Transparency and trust are crucial elements in the world of cryptocurrencies, and The fall of Solesbot has highlighted the risks associated with the lack of these elements.
“Disappointed already with how far behind we are in Latam in terms of financial education (even though we are doing a lot in the crypto industry), greed and ignorance will continue to do their thing,” CriptoLawyer commented energetically.
In summary, The fall of Solesbot has left many Venezuelan investors in a precarious situationquestioning the viability and security of their cryptocurrency investments.
“The server’s web page was deleted or moved. The maintenance message is no longer there. Now this means that the website has already been deleted from the servers. I’m almost sure that the ponzi scam has come to an end. It will no longer come like the phoenix,” said Jesus Castro.
The crypto community should be attentive to future developments and actions taken by the company to resolve this crisis and restore the trust of its users.
Disclaimer
Disclaimer: Following Trust Project guidelines, this article presents opinions and perspectives from industry experts or individuals. BeInCrypto is dedicated to transparency in reporting, but the opinions expressed in this article do not necessarily reflect those of BeInCrypto or its staff. Readers should verify the information independently and consult a professional before making decisions based on this content.
