Pincoin seems to be one of the newest exit scams in the cryptocurrency space. The Initial Coin Offering was able to gather $660 million dollars from 32,000 different investors. And indeed, Pincoin became one of the most prosperous in the last several months.
The Pincoin Project was forever looking like a Ponzi scheme. It was offering 48% monthly returns that not everyone could refuse. And indeed, it ended up with investors being scammed.
Back on January 12, the cryptocurrency called Pincoin (PIN) entered the market. And at that time, the project seemed legitimate. The project seemed logical since it had a licensed white paper and good explanations about how users were going to be earning 48% per month. Nevertheless, this was the origin point of a scam.