https://www.cnbc.com/2018/03/26/cryptocurrency-litecoin-falls-after-processor-litepay-closes.html
https://coincentral.com/controversy-turns-to-closure-as-litepay-shuts-down/
https://www.coindesk.com/litecoin-foundation-issues-mea-culpa-litepay-pulls-plug/
https://coingape.com/litecoin-litepay-shuts-down/
My favorite comment on REDDIT when the Phantom Founder of LITEPAY had an ask me anything day was
"you had weeks of notice regarding the Visa issue. your lack of communication speaks volumes on your incompetence." NO REPLY....
And evidently one of his class mates found him on REDDIT: brushythekid 5 points 9 days ago
"Ken you are a fraud, a failure, and deserve no future in this space. You sucked in elementary school and you still suck today." AND AGAIN Clearly the CEO/ Founder of Litepay (and only visible employee) is a talent less, big ego, XXXX less, completely oblivious to the world around him fraud. "
Finally the Litecoin Foundation confronted the scammer AKA Kenneth Asare , founder of so-called litepay. Asking him what he did with all the money they set him but only after he asked for more money. Then lo and behold he told them he decided he was going to close litepay and sell the company.
Charlie Lee and the Litecoin Foundation felt so bad for having supported this effort. The problem is there never was an effort Kenneth Asare was almost invisible on the internet like soome Nigerian money scammers. The difference being that those in the know aka the foundation and people like John McAfee, Charlie Lee and others should have known or at least might have known had they at least asked him directly for his plan.
I wonder how much money the foundation actually gave the shyster.
It is a real shame but all the warning signs were there, as the article link above states. The issue is that those of us in the crypto community and believers in a decentralized form of monetary reality are way too dependent and trusting in the icons of this industry.
After looking through the internet and various search engines trying to find a bio on the founder of litepay a few weeks ago I found almost nothing except some scam web pages about his other quote-unquote business ventures.
I went on several forums asking people who had greater ability to research this sort of thing to please try to find information on this man. This whole thing sounded like a scam.
No transparency whatsoever. What I did not know was that the Litecoin Foundation, according to the article above had already given him money I just wonder how much. Thank God they wised up and refused to give him more money it would have only gone down the same hole that the rest went.
I can't believe they actually admitted in the article that they asked him what he had done with the last money ,
At least the adults in the banking industry, when they loan you money ask for collateral and actually asked you ahead of time what you plan on doing with the money. They ask for references. They look at your books. They don't just let you walk in the door open a drawer like Gomez Addams and shovel money into your lap like a foundation must have done.
Then, they asked what he did with the money they gave him............lol,
we all know what he did with the last money,............
Too the Moon....
Oh I forgot the PROOF that he offered as to being REAL: